Most businesses need more bookkeeping and accounting knowledge. As a result, their account books become a big mess and fail to provide an accurate record of their business profits, losses, and financial expenses.
QuickBooks comes to the rescue in this situation, helping the owner to track all the transactions, financial statements, and other relevant information related to their business.
What is QuickBooks?
QuickBooks is one of the world’s best-selling accounting software developed by Intuit. It has become an industry standard for small to medium size businesses because it books and manages your finances down to the penny.
The program can store all your financial transactions in one place and simplify many accounting and financial processes, including creating invoices, tracking payments, and managing inventory. In addition, using QuickBooks service provider allows users to create detailed, insightful reports, track their progress over time, and ensure they don’t overspend.
QuickBooks is Not Your Regular Accounting Software
Available in both desktop and cloud versions, QuickBooks is not just accounting software. But it can also be used as a specialized payroll system, inventory management software, and customer relationship management (CRM) solution.
Key Features That Make QuickBooks Stand Out from the Crowd
Payment Tracking
QuickBooks allows users to create invoices they can send out to their clients to be paid for their services. This feature lets them easily track customer payments and record payments from their bank accounts.
Budgeting and Billing Expenses
Users can create budgets based on their expected income and expenses to track how well they are doing financially at any given time.
Inventory Management
QuickBooks allows you to manage inventory effectively by keeping track of all your purchases and sales. You can also create purchase orders and invoices from with this software, making it easier to record what needs to be ordered or sold next time. This feature will also help you avoid losing sales opportunities due to a lack of supplies or inventory.
Simple and User-Friendly Interface
QuickBooks’s user interface is designed so that non-technical users can easily use it without difficulty or confusion. The software is intuitive enough that even new users can easily understand its functionality without any problem.
Reporting & Accounting Tools
Access reports on any aspect of your business performance with ease thanks to QuickBooks’ robust reporting capabilities. You can even create custom reports based on specific criteria, such as income or expenses by department or category (e.g., travel expenses).
Besides these features mentioned above, QuickBooks also offers unique opportunities for integration and add-on payroll features, in addition to effective cash flow management, cloud accounting, and time tracking.
So, Is QuickBooks the Right Accounting Software For Your Business?
QuickBooks is a good fit if you:
- Need simple to moderate advanced reporting features and tools
- Are you looking for just basic bookkeeping
- Want to use an online or desktop-based solution – or both
- Track and manage finances, expenses, and inventory (basic)
- Want an easy-to-use solution without a steep learning curve
- Need accurate reporting
- Have more than one user
Whether you’re a small-to-mid-size business with limited needs or an enterprise-level corporation, QuickBooks has different products and versions to meet your needs.
Virtual Jeannie Bookkeeping Services Inc. has been providing quality and affordable QuickBooks bookkeeping services in Santa Rosa to help businesses manage their financial records and books efficiently for years. To learn more about our services, call (707) 664-1425.