Thinking about the financial side in business is enough to give you a headache. But then that is actually what makes up a big chunk of any industry you want to be involved in, and be good at. Some people make it look so easy and you wonder how they do it. It is actually quite simple. Keep up with the trends, especially when it comes to monitoring your income and expenses.
A small business owner who wants to grow would equip every tool he needs, especially if technology can provide it. We’re talking bookkeeping and having your finances recorded well and organized, so that when filing of taxes comes, you will be well prepared.
What is Quickbooks?
Developed by tech company Intuit, Quickbooks is a line of software used for bookkeeping. It is designed to fit the needs of small and “medium” entrepreneurs, businessmen who are just learning the ropes of the industry while trying not to get caught up in the complexity of their accounting tasks. This software merges different processes and procedures used in your regular accounting tasks. By combining them into one system, you can ditch the spreadsheets that had confused you day in and day out since you had started keeping score.
What’s in it for you?
You can utilize this in many ways, just as long as you are familiar with the many features available. Your office staff may have been used go the old school way of monitoring records. Sometimes, it can be so time consuming and this is when they should start to navigate the software, so as not to be behind its more than 4 million users, majority of whom, by the way, aren’t really accounting and tech pros.
To date, QuickBooks software has more than 80 percent of the overall share in the small-business market. It is also by far, the most widely credited tool for accounting newbies worldwide and those who needs their financial records done easily, without needing a crash-course or a professional to get it done.
For people who want quicker, easy to understand solutions in the bookkeeping process, Quickbooks is the system for you. The thing is, because of the growing demand for a software like this, different versions have been launched by Intuit to cater to the different needs of the small business market. Visit, quickbooks error support to find out more.
Figure It Out
Quickbooks offers almost every product you might need to cover your accounting tasks of sorts.
But which version is right for you? Are you much better with the desktop sync? What about integrations for the on-demand workers and self-employed industry? You name it, Quickbooks has a product for it. You just need to figure out which of their strong features, versions and program suits your financial monitoring needs.
Transaction Memory. This should be on the top of your list, upon starting to take advantage of Quickbooks. Not all company has the same number of transactions, but each of them does this on a regular business. That is why they exist. With Quickbooks, recurring transactions are recorded and memorized real-time. Business expenses, for example are made monthly and the amount made out to contractors you work with, are just about the same. So then, Quickbooks memorizes the same entries and data automatically, made out of these scheduled intervals.
Customizing. Perhaps this is one of the things that makes Quickbooks such a standout from all other accounting software. Premier alone offers twenty generic custom data fields and the Enterprise version allows 50 custom-data fields that are content-specific. The complex keeping score of profit made and money spent will be an easier feat. With this customization in place, the wise accountant can better overcome challenges in a Quickbooks system.
Furthermore, users will be able to filter data entry reports made on those fields, as they see fit. For example, your list of contacts, specifically customers who are paying a monthly service, for example, will be filtered to let you find only those who are still active. To work your way around this tool, go to the Customer Center field, choose a customer and click on the button tagged as “edit customer” then hit “define fields” under Additional Information tab.
There are some things you will not be able to find in the user guide when you purchase this software. You may want to know the allowed data file size before the installation. The good thing is, these versions of Quickbooks can also use some updates, but when it does, there might be a problem with the files that have been already stored. This may result in the delay of running reports real-time.
Both the Pro and Premier versions are not indispensable. One can complicate records that are already there, just as well as the other. With a bigger sized file, since naturally, the business needs will also grow bigger, neither the Premier and Pro or even Enterprise, in worst cases, will be foolproof.
Intuit has made several branded applications that focuses to improve the functionality of the available platforms for Quickbook users. They come as add on apps you can purchase so you can test which one works better for you, and which one you can prioritize, when it comes to your payment tracking needs.
One of them is QuickBooks Payments which accepts online payments and offers the option of emailing invoices. The other one is Quickbooks POS which can be better utilized with an iPhone since it was designed to be cloud-based. Bit handy if you are thinking of check and balance tasks while you are on-the-go. The last one is Quickbooks payroll offering businesses to make their payments to what could be a stream of up to 50 employees, many of whom are the 1099 folks, or the ones who are self-employed.
Even if you upgrade or do some changes with the software, as the job so demands, you will still be able to make and send forms as emails to your clients in three different ways, which all three versions could do. You can use Microsoft Outlook, a web-based e-mail client like gmail, or better yet the QuickBooks e-mail servers. The last one, however, may require additional fees.