The popularity of QuickBooks grows with each passing year. This easy-to-use software is designed to help businesses manage taxes easily and increase business efficiency. QuickBooks has been constantly evolving and the QuickBooks team adds new safety and convenience features at regular intervals.

QuickBooks Online is a cloud-based accounting software designed to help businesses manage and access their books online on different devices such as laptops, desktops, and smartphones.

Here are some tips to help you get the most out of QuickBooks from a bookkeeper near you.

Keep Track of Your Accounts Payable and Receivable

Business owners have a lot on their plate. Many small business owners have limited resources and juggle multiple tasks. They become so inundated with day-to-day tasks that checking their accounts payable and receivable slips their mind.

Accounts receivable can pile up quickly and poor accounts receivable management could cause a cash flow crisis. Inefficient accounts payable management can negatively impact your business’s reputation.

To view overdue invoices from your customers, click the Sales tab on the left hand side of your screen. Next click on the Customers tab within Sales. Click Overdue to send payment reminders.

To view your outstanding bills, click on the Expenses tab on the left hand side of your screen. Next, click on the Vendors tab. Click Open Bills to pay your outstanding bills.

Reconcile Accounts Periodically

Reconciling your accounts periodically is a great way to prevent balance sheet errors and fraud. To reconcile an account, click on the Gear button, then on Tools and finally Reconcile.

Select the account you want to reconcile from the drop down menu under Accounts. Enter the ending balance and ending date. If you do not remember this information, check your bank statement. Compare the account balance as reported by your bank to your general ledger.

Set Up Automated Emails

QuickBooks Online has a feature that allows you to set up recurring invoices to be automatically emailed to you on a schedule. Your customers can pay online and the associated fees and payments will be automatically recorded.

Create an Ask My Accountant Account

Often, you would come across a transaction that you won’t know how to classify. Such transactions should be moved to the Ask My Accountant account. To create your Ask My Accountant account, click on the Accounting tab.

Your accountant will periodically view all the transactions under your Ask My Accountant account and allocate them to the right accounts.

Looking for a QuickBooks bookkeeper near you that deserves your trust? Look no further than Virtual Jeannie Bookkeeping Services. Over the years, we have set up many small businesses for success. We are committed to helping businesses avoid bookkeeping errors and hassles. To learn more, call (707) 664-1425.