But, with the help of high-end accounting software, this work can become very easy. In the market, there are many accounting software that helps the company accountants to do their work efficiently. But, through this article, you will come to know about QuickBooks, which is a leading small-business accounting software.
It helps the businesses to keep track of every small thing related to capital like sales, various expenses, etc.
You can use this software for invoicing clients, bill payment, inventing reports for planning, tax filing, etc. Overall, you can say that QuickBooks delivers numerous solutions to the businesses starting from small to mid-size.
Well, QuickBooks offers various types of solutions to the clients but ensure that you choose the right one. It means before you go for the paid version, take 30 days trial. The best part is this trail is fully functional, and you can quickly see all the bells and whistles without any credit.
Now, let's discuss what the benefits of QuickBooks for small to mid-size businesses are: -
1. Quickly and correctly manages sales and daily income
2. Keeps proven track of all bills and expenses
3. Has the capability to gain primary reporting insight for every business
4. Generates profit and loss report
5. Also invents balance sheet report for further documentations
6. Generates statement of cash flow without any errors
7. Smoothly runs payroll, as if you do it manually, lots of mistakes can occur
8. Perfectly tracks every type of inventory
9. Ability to simplify taxes
10. As QuickBooks is an online tool, it can accept payments
11. Has the key to scan receipts
Moreover, QuickBooks are of various types that help the businesses to keep every small record related to capital. There are many types of QuickBooks available in the market from which you can choose as per your requirements. They are: -
• QuickBooks Online
• QuickBooks Desktop
• QuickBooks Self-employed
• QuickBooks Mac
After knowing numerous things about QuickBooks like its features, advantages, etc. Now, you will come to know about how you can use QuickBooks?
Install QuickBooks on the computer or laptop. And don't forget to enter what type of install you want, whether it is custom or network. Apart from this, if you're going to use QuickBooks on one system, then choose, I am using QuickBooks on this computer and, if not, then select other appropriate options. After that, select the specific folder where you want to install the file.
The next step is gathering essential finance-related papers, which is a must to set up the account of QuickBooks. On the other hand, you also need some additional data like the name of the business, address, ID number of taxes, and financial statements.
Once your company's file generates, click on the QuickBooks icon where you have saved it from launching the actual program. When you first time uses it, you will be given the option to stay with EasyStepInterview Wizard so that you can easily understand the whole process of using QuickBooks. In this Wizard, you can see the interactive tutorials so that QuickBooks can be used easily.
After watching tutorials, set up, and generate the vendor accounts. Vendors are the businesses that you hire to support your business. Now, click on the vendor center on the toolbar. Click on the new vendor button to open a vendor account. On the other hand, if you want to add any transaction, click on the original purchase.
However, QuickBooks also delivers upload option in excel or word format if you want to upload vendor data.
Besides this, if you want to set up or manage an employee account, click on the Employee Center. After that, select New Employee to add employee data. Whereas, if you're going to do any transaction, click on the Transaction tab to add something.
QuickBooks also delivers customer account systems in terms of creating and managing. This account also operates as an employee or vendor account. Just click on the Customer center and add new clients or manage clients.
If you want to generate any of the reports, then go to the Report Center. If you use this advanced feature, then you will get a snapshot of all the financial expenses of the business.
So, after reading the above discussion about QuickBooks, you would have known how it works and how it benefits every small scale to mid-size businesses.
It is one of the leading and prominent accounting software that helps the companies to keep all the records for further use. This information was brought to you by QB Techs.