Accounting for small businesses is fraught with difficulties. With accounting software (or even a simple accounting platform), it can be easier to keep track of everything from invoices and payroll to year-end taxes. For this purpose, there is QuickBooks.
The cutting-edge QuickBooks bookkeeping services are available in three distinct editions. Two are desktop editions, meaning they must be downloaded and installed before they can access your data, which will then remain on your computer’s hard drive. There’s also an electronic variant available online.
How does QuickBooks work?
Intuit made QuickBooks accounting small business, which is software for keeping track of business finances.
It is the most popular cloud accounting software because it is easy to use and has many features and integrations that let you see what is happening in real-time—no more digging through bank statements to match up expenses and income.
QuickBooks has all the features you’d expect from a popular accounting programme, and its interface is easy to use. This makes it great for people just starting, but it’s also powerful enough for more experienced users.
Because of this, thousands of small businesses in the UK have chosen QuickBooks as their solution.
Access to the Same Data
You’ll like how QuickBooks’ online programme works if you share your business’s accounting tasks with others. Since the programme is in the cloud, you only need a username and password to access it. This means that anyone with a login in the company can use the software; they don’t have to be on your computer.
There are also ways for more people to use it. If you pick one of these upgraded packages, more than one person can simultaneously use different parts of the programme. In this way, it’s beneficial. Your accountant can also access the information to help you keep your books balanced and correct.
But if you’re worried about someone getting your login and password and changing things, keep that information secret and pick a password that is hard to figure out.
Your office computer doesn’t need backups
With older versions of QuickBooks small business accounting, there’s always that nagging worry that you might lose your data. Since it’s saved on your computer first and then backed up on your server and as many USB drives as you can fit, the chance is there. If something goes wrong with the technology in your office, you might lose that important information.
QuickBooks online doesn’t have a problem with this, though. The programme automatically backs everything up, and your business’s financial information is kept on Intuit’s servers.
When you need it, you can get help online
As long as you pay for the user licence, Intuit’s online help desk is easy to reach whenever you need help with QuickBooks Online. Their experts can answer questions about setup, help you get out of a jam, and even help with general problems, like how to upgrade the programme to add a new user. You know where to go if you have any problems with the programme as you use it. You won’t have to pay more for the service either.
Send bills and invoices to clients automatically
QuickBooks Online is an excellent tool if you have to send clients invoices and statements often. Instead of doing things the old-fashioned way by printing out the invoices, attaching the supporting documents, and mailing them, you can have QuickBooks send them for you.
All you need is the email address of the company’s accounting department, and the programme will take care of the rest. You can also have the supporting documents scanned and sent over if you need to.
Some transactions will load into the programme on their own
Some transactions, like purchases and payments, that come from or go into your bank account will automatically upload to QuickBooks online. You only need to go through them to ensure everything is correct. You might also have to move some things around to add the correct codes and information.
All of that, though, is much easier than entering each transaction by hand and then coding it correctly. Yes, this is an excellent way to save time with QuickBooks online. You’ll be glad to go in and double-check this information.
Many new businesses need to take advantage of all the benefits of QuickBooks. Most business owners can get started with a basic setup of QuickBooks, but they often need more experience with the software to use it best for their business finances. With so many things to do, it can be challenging for founders to keep track of and double-check every line item in their QuickBooks account. This can lead to costly accounting mistakes. Working with a finance company like ACCL Global with years of experience with QuickBooks can make all the difference in this situation.