Are you the owner of a small business enterprise, and wish to expand your company in the near future? In order to achieve your dream, you need to ensure the smooth management of all business expenses. Otherwise, losses may prove the main hurdle to your future aspirations.
The efficient management of finances is one of the most important aspect for every small business. Without a proper accounting system to ensure timely payments, small business owners find it hard to keep a track of all their expense accounts. Generally, limited funds and a set source of income make it difficult to manage company expenses. As a result, entrepreneurs and small business owners need an accounting solution that offers them efficient bookkeeping with no hassle. This is where QuickBooks accounting software comes into the picture.
It is premium accounting software designed with the expressed idea of assisting business owners who lack the accounting knowledge and skills to manage their company finances effectively.
Running Your Small Business Better
QuickBooks is the all-in-one solution to efficient business financial management. The software features offer a system that ensures timely payments to vendors while keeping track of all the different company payment transactions. It maintains a much needed record that provides business owners with a clear idea how their business is progressing.
Following are some of the helpful features that can help with the efficient management of all company expenses and income accounts.
Send Invoices Easily
QuickBooks generates customized invoices for your business. As a result, your customers receive invoices created by you. Add your company logo to the design of your choice. Also, include customized fields in the system generated invoices.
Accept Payments through the Software
QuickBooks helps businesses accept payments through online systems as well as by means of a mobile payments system. This makes it possible to ensure the smooth and efficient management of invoices and on-time payments to from the customers for a positive cash flow.
Track Sales and Expense Transactions with Ease
The software generates detailed reports and statements that help business owners keep track of all company expenses and sales. The software generated records are highly accurate and free of any risk of human errors that could affect the records of the company.
With system generated records available for scrutiny, it is easy to skim through documents and entries. More importantly, you get an idea of the different expenses handled by the company. As a result, you can remove or reduce any unnecessary expenses to make the business more profitable. Hence, you avoid the wasteful squandering of your limited resources.
The software maintains an updated view of all the company sales and expenses, and assists the business owners to get a clear idea of their generated profits. This gives a good understanding of the current financial condition of the company, enabling the owner to make guided decisions in the future.
Integrated Payroll Feature
Employee salaries are a major company expense. And, an integrated payroll feature ensures easy management of workforce salaries and record-keeping. QuickBooks also manages your payroll taxes and monthly, quarterly and annual payroll filings.
Linked To Your Online Banking Account
Link QuickBooks to your online bank account for all business related transactions. Doing this, helps you to keep a track of your expenses easily and without any hassles. With the online transactions connected with the software, you can control and monitor all transactions.
QuickBooks automatically uses data from your bank to update your company financial records. Therefore, it removes any chance of error because of manual data entry, and it also saves you valuable time.
The software is so sophisticated. It automatically classifies transactions according to your accounting method by arranging the data and management of your accounts.
Ensure and Enjoy Fast Payments
QuickBooks accepts debit and credit cards for business convenience, as well as ACH payments by customers. Invoices can be sent by email. And, business owners can check the status of their invoices in real time.
Easy VAT Calculation
Intuit equipped QuickBooks with a feature that lets company owners easily view their VAT liability. This helps them complete and file their return each quarter and avoid any legal problems.
The software generates profit and loss statements and balance sheets. These statements give an accurate idea of the current financial condition of the company.
Use the Software on a Variety of Devices
QuickBooks syncs easily to a variety of devices. Therefore, your financial details are available whenever you need it. The software can be accessed through computers. iPhones, iPads and Android devices provide easy access while on the go.
More importantly, password-protected logins and firewall protected servers give you piece of mind. QuickBooks also uses the same encryption technology (128 bit SSL) as the world’s top banks. As a result, your data is secure.
Backup Database Feature for Information Protection
QuickBooks offers a feature for keeping a backup of your daily transactions, so the information is safe and secure. Files are automatically backed up once a day, every day. Business owners can keep their critical financial data in the cloud.
QuickBooks is a complete accounting solution. It is the answer for many small business owners worries. Especially, those who lack the accounting skills and knowledge to manage their company finances will find it efficient and effective.
Finally, for more information on small business accounting, read article Tips for Starting and Growing Your Small Business.