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Automating Sales Tax Returns with Taxify

Preparing and filing sales tax returns can be a time-consuming activity. Filing sales tax returns in a timely manner is essential to avoid paying costly late fees. Although QuickBooks allows businesses to organize and prepare sales tax, it does not help with the filing of these taxes.

Taxify is a comprehensive solution that helps businesses not only prepare but also file sales tax returns. Below is a detailed look at the software and how it works. Overview of Taxify Sales Tax Software.

Small and mid-sized business organizations spend around $63,000 annually on sales tax compliance and filing, according to the  Aberdeen Group research firm. The top challenges for businesses submitting sales tax include excessive labor time, poor accuracy, and delays in filing.

Taxify saves costs on filing sales taxes while complying with legal and state tax laws. By automating tax compliance, Taxify also saves on the time involved in tax preparation. Taxify integrates with QuickBooks to offer automated sales tax filings and features real-time sales tax rates and industry based tax calculation.

<img alt="taxify connected apps">

Although the software is suitable for all types of businesses, it was specially built to cater to online businesses. Using the tax software, online businesses can simplify the tax preparation and filing process. Taxify also integrates with dozens of eCommerce platforms including Magento, Bigcommerce, eBay, Amazon, Shopify, and Woo Commerce. It even integrates with the PayPal payment platform for order and product information transmissions in bulk.

Benefits of Taxify

Most tax apps are either complicated or too expensive for businesses, yet Taxify offers various benefits for businesses. It is a comprehensive solution at an affordable cost. It automatically determines the tax amount relating to a particular jurisdiction and tracks taxes on an order-by-order basis. Last and most importantly, it is easy to implement and use.

Automating Sales Tax Filing

With QuickBooks integration, Taxify literally puts sales tax reporting on cruise control. It saves time and cost of accountants in preparing and filing taxes with its AutoFile capability. You can integrate the software with a few clicks of the mouse.

With the AutoFile service, you can streamline the process of filing sales tax returns. You can file in every state and local area in the US. It will automatically fill out the return by taking information from QuickBooks and other integrated software. Moreover, the software automatically writes a check for the amount due or pay via ACH in the case of returns filed electronically.

Paperless Filing of Taxes

Taxify helps small businesses file taxes electronically. Businesses can file taxes without printing paper, licking stamps, or signing checks. All the tasks occur electronically, so you not only save stationery costs, but you also do your part to minimize your company’s carbon footprint.

File Taxes Accurately in the US

A big challenge for small businesses is -determining the sales tax rate applicable in their jurisdiction. The reason is that tax rates can from county to county within the same state. Taxify maintains the tax rates for thousands of jurisdictions, so you are guaranteed an accurate accounting of what’s due when.. You just have to specify the state and local jurisdictions where you need to file taxes, and the software will automatically calculate the taxes based on the tax rates applicable in that area. You can submit the sales tax returns yourself or use the AutoFile service to file the taxes.

Easy QuickBooks Integration

Taxify integrates with QuickBooks easily. Once you take the steps to connect the accounting software with Taxify,  your QuickBooks orders and products are perfectly synced without the need for manual entry. You can perform a sales tax gap analysis and file accurate sales tax returns using your QuickBooks data.

Avoid Errors in Filing Taxes

The software helps avoid errors and inaccuracies when submitting taxes. Businesses can use Taxify to submit accurate sales tax returns that comply with the sales tax laws. It automates the sales tax compliance using real-time tax rates in state and local jurisdictions.

Moreover, the software prevents human errors and helps generate forms that are ready-to-sign and/or dispatch electronically. This helps you avoid sales tax gaps and late submission of your returns. As a result, you avoid the prospect of paying late fees by relying on Taxify’s easy to use automated tax compliance software.

Easy Auditing of Sales Taxes

The sales tax accounting software allows access to past sale tax reports and transactions. This makes it easy for the auditors to examine the past records of the company. Moreover, it saves costs for the company because you don’t have to spend time making the sales tax data accessible for the auditors.

Excellent Customer Service Support

Businesses benefit from exceptional customer service support when using Taxify. Their team knows sales tax. They want to help you get your sales tax preparation done efficiently and effectively, so you can have peace of mind and devote your time to your other business responsibilities.

Conclusion

Taxify greatly simplifies the task of tracking and calculating sales tax that is due to your local and state agencies. The software has established itself as a leading sales tax compliance software, garnering glowing praises from business owners in a variety of industries. There are different plans available based on your monthly transaction volume. Every price level includes simple setup, automated tax filings, and live phone support. You can also upgrade your package anytime as the sales tax filing needs of your business change.

Quickbooks Software

Create and Memorize Reports in QuickBooks

QuickBooks contains several pre-created reports that display summary information from the company data file. The reports are crucial to small business owners for charting the future trajectory of the company. QuickBooks reports can be customized according to the specific user’s needs. In this article, we will cover basic information about how to create and memorize a report template in QuickBooks Desktop 2015 and later. Here you will learn about how to customize, filter and memorize reports to suit your needs and preferences.

How to Customize Report Template in QuickBooks

QuickBooks Desktop allows you to customize the content of any report.  You can add or remove the columns, customize fields, add or delete the header or footer, and also customize the style and font of the report.

In order to customize a report, you should follow the steps outlined below.

Step 1: Select ‘Reports’ from the Menu bar.

Step 2: Open any report, and then click on ‘Customize Report’.

Step 3: Click on the available tabs to customize the window.

Step 4: Once you have customized the report, you must click OK.

The available tabs in QuickBooks that you can customize include Display, Filters, Header / Footers, and Fonts & Numbers.

In the Display tab, you can change different settings regarding the content displayed in the report. You can select the dates covered by the report, report basis (annual or cash), and columns displayed on the report. You can specify how the columns should be displayed in the report (by day, by total, by item type etc). The sort option allows you to choose how the data is sorted (such as ascending or descending order). Also, you can specify to add sub-columns for the previous period, previous year, year-to-date, and percentages in the report.

The Filters tab contains options that you can use to filter the information contained in the report. You can add or remove filter as per your preferences. You can set filters for date, amount, billing status, aging, and many other elements.

In the Header / Footer tab, you can modify information that should appear at the bottom and the top part of the report. The header text appears at the top of the report while the footer text appears at the bottom. You can select information such as company name, report titles, subtitle, and date prepared in the header section of the report. The footer information that you can select or deselect includes the page number and the extra text that you want to be displayed in the report. You can also specify the alignment of the header and footer.

Finally, the Fonts and Numbers tab allow you to select the appearance and style of the report. You can modify the fonts, font style, and font size of different sections of the report. There are several sections whose font can be modified such as column label, row labels, report data, date, report title and subtitle. In addition, you can opt to have all the numbers divided by 1000 or without cents. Lastly, select whether negative numbers should be displayed in parentheses or with a trailing minus sign.

How to Memorize Reports in QuickBooks

In order to avoid having to go through the process of customizing the report every time you want to print the report, you should have the changes memorized in QuickBooks. In this way, the customized report will be ready for future use.

Here are the steps that you should perform to memorize a report:

Step 1: Click on the Memorize in the report window (figure below).

Memorize Reports

Step 2:  Next, you must type a name for the memorized report. You can select the ‘Save in Memorized Report Group’ option if you want to categorize the report template. Also, place a checkmark next to ‘Share this template with others’ option if you want the customized report to be viewed by others.

Step 3: Click Ok.

When you perform the above steps, QuickBooks will save all the report settings. You can access the customized report in different ways. To access the customized report from the report menu you should perform the following steps.

Step 1: Click on the Memorized Reports in the Reports menu.

Step 2: Select the report, or the report group, from the list

Step 3: Click Ok.

You can also access the memorized report from the report center by following these simple steps.

Step 1: Click on the Report Center in the Reports menu.

Step 2: Next, click on the Memorized tab.

Step 3: Now, you must choose the appropriate group or select uncategorized if you had not assigned the report to any group.

Step 4: Lastly, double click the memorized report from the list.

Note that in some cases an error message may be displayed when you try to save the report settings. This type of error occurs when you try to use too many filters. If you encounter an error message when saving the report settings, you should attempt to reduce the number of filters to resolve the issue. Also, you should try reducing the items selected in each filter to solve the problem.

How to Modify the Memorized Reports

You can easily modify the memorized reports. In order to edit the report settings, you should follow these steps.

Step 1: Open the previously memorized report.

Step 2: Change settings relating to display, filters, header/footer, and font & numbers.

Step 3:  Once you have made all the required changes, you must again save the report. You can choose if you want to create a new customized report or to replace the existing memorized report.

QuickBooks is one of the more versatile accounting software programs available. By following the advice given in this article, you will master the art of creating, memorizing and modifying reports. Keep tuned in for more in-depth advice and tips regarding QuickBooks!

QuickBooks 2017 R4 Update

A Look Inside QuickBooks 2017 R4 Update

Intuit, the maker of QuickBooks accounting software, has recently released the R4 update for the US version of QuickBooks Desktop 2017.  Manually download the update from the QuickBooks support webpage.

The latest update of the popular accounting software includes a number of changes such as improvements in scheduled reports, 1099 tax filing, corrections to bank feeds and much more. Here we will look at some of the most valuable improvements in the latest update of QuickBooks Desktop 2017.

1. Additional Filters
The R4 update allows the users to specify different filters in reports. Also, the user can click on the blue hyperlink text to edit the selected filter. The last page on the printed report displays the filter descriptions.

2. Smart Search Option
Another great improvement in this latest update is the smart search feature. List names can be found quickly once the first few words are typed in the search box. For instance, if you type Family, the search box will display one or more matches to the keyword in the drop down box.

3. Improved Scheduled Reports
The scheduled reports feature is revamped in the latest update of QuickBooks Desktop 2014. You can select schedule reports by selecting them from the memorized report list. Also, you can schedule automatic delivery of the reports to other persons. The attachments are password protected and sent in the PDF format.

4. Credit Card Clear Status
Credit card clear status will be displayed after you apply the R4 update. The Cleared status word with a checkmark will appear whenever a credit payment has been reconciled to the merchant’s statement.

5. Copy and Paste Line Details in Time Sheets
The latest update of QuickBooks Desktop 2017 allows you to copy and paste line details in the weekly time sheet cards. This makes it easier for the accounting personnel to process time-in information of the employees.

The above are some of the new and improved features of the R4 QuickBooks 2017 update. Apart from introducing new features, the latest update also resolves some of the issues with the scheduled reports.

After you apply the R4 update to QuickBooks 2017, you no longer have to select ‘run as administer’ to create scheduled reports. Also, schedule reports even if you have an older version of QuickBooks installed on the PC.

In addition, QuickBooks informs you of any issues that must be resolved before you can run or create a schedule. The information is displayed before you start the scheduling process instead of after scheduling the tasks. Also, you don’t need to turn off the quick startup feature in order to schedule the reports.

The latest update of QuickBooks 2017 also introduced several changes that improved performance and stability of the accounting software. Contact your friendly neighborhood QuickBooks Pro Advisor if you want to learn more about the R4 QuickBooks Desktop update.

QuickBooks small business software

QuickBooks: Small Business Accounting

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.

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https://www.projectorpsa.com/intuit.html

Projector – One of the Best Hosted Solutions Designed for Professional Services Firms

A projector is an online software solution that can be integrated with QuickBooks Online and Desktop to offer enhanced accounting functionality. The software is designed for consulting firms and automates their accounting process. Projector is not a single software, but a total integrated solution for optimizing accounting tasks and activities.

Users can export Account Payable, Account Receivable, and General Ledger transactions to QuickBooks. Moreover, the software also allows import and export of the customer and employee data in QuickBooks, and synchronize the data on a continuous basis. Lastly, the software offers analytical reports and tools that can help when reconciling and auditing accounts during the closing process of an organization.

Here we will explore the powerful functions and features of Projector in enhancing and optimizing the accounting functions of companies.

Projector – An Overview
Projector Overview

The secret of running any professional services firm successfully is to efficiently manage three important resources – human, capital, and time. These three resources are the critical ingredients that when managed properly can allow the business to reach the height of success. Inefficient resource management, on the other hand, leads to increased cost of operations that will make it difficult for the firm to survive over the long term. By integrating QuickBooks with Projector software, you can efficiently manage the company resources that will ultimately lead to an improved bottom-line.

Projector online accounting solution offers tools to better manage the resources. The software contains three key functionalities: Resource Scheduling, Project Accounting, and Enhanced Project Management. The modules are customized for the firms that offer consultancy services. Some of the modules of the online service include:

  • Time and expense entry
  • Creating invoices
  • Billing review
  • Resource scheduling
  • Budgeting and tracking
  • Task planning and tracking
  • People and project management
  • Detailed analytical reporting

The online add-on also contains multi-currency and multi-company sub-ledger that seamlessly connects with QuickBooks accounting software. Whether you want to accurately invoice your client, gain greater control over resources, or manage different projects, Projector online solution offers it all.

Detailed Overview of Projector
Projector software is designed especially for professional service firms. The professional suite comes with powerful features and functionalities that will allow you to control your costs and improve your bottom-line. The efficient intuitive interface of the online enterprise class solution makes it easier for you to reap benefits and streamline your accounting operations. The software is delivered on a cloud-based Software as a Service (SaaS) platform that is ideal for both small startup businesses to big multinational companies.Let’s take a look at each module in detail.

Project Accounting Module
The Projector accounting module allows you to keep track of the time and expenses you have invested in various projects. The module makes it easier to manage the invoicing process. Using the module, you can bill clients with the correct amount in a timely manner. The online software helps ensure that every time and cost invested in the project is billed accurately and sent to the client. The software can act as a sub-ledger of the project in your general ledger, and automatically sync the information with QuickBooks.

Resource Scheduling module
The resource scheduling module allows you to efficiently manage the human and capital resources your company. Using the software you can easily assign staff to projects. The software allows project managers to make the right decisions and ensure that the tasks and activities are completed on time while utilizing minimum resources. Project managers can also describe the type of resources needed based on certifications, skill sets, and physical locations. The software gives greater control to project managers in allocating resources to different projects. Using the resource scheduling software will help with effective utilization of resources and can have a positive impact on operational costs, revenues and overall company profitability.

Project Management Module
Project management module offers more power and control in planning, tracking, and implementing tasks and activities of a project. The module is a simpler and low-cost alternative to Microsoft Project that allows project managers to check the project health in complete detail. Moreover, the software also allows better collaboration and coordination among the team members that goes a long way in ensuring that the project is completed according to exact specification of the client.

Apart from modules, Projector also contains various foundational layers that greatly help in optimizing accounting functions and tasks. The layers allow accounting personnel to have greater control and visibility of the expenses that determine the health of the business.

1. Projector Visibility Layer – This is a powerful feature that allows you to customize the dashboard. You can modify the dashboard to view the information that is essential for making the right business decisions. Moreover, you can use the powerful analytical reporting engine to create reports that can help you perform ad-hoc analysis of accounting data. When combined with the software’s operational dashboard and email alerts, you will have accurate and updated information about the current position of your business.

2. The Control Layer – The control layer allows you to manage user permissions and workflows. It gives you greater control over what information each individual is allowed to access and when. You can conduct full audit trails to see what the employees did on a particular day. With the control layer, you can setup the software in different ways to manage different parts of the project and organization.

3. The Integration Layer – This layer allows you to integrate Projector with other important systems used by the company. Apart from QuickBooks, you can integrate the online software suite with Salesforce.com (a powerful customer relation management tool) and Microsoft Project (Project management software). The fully integrated system will work wonders in improving operational efficiencies and streamlining operations.

Final Remarks!
Overall, Projector is a fine online accounting solution that is specifically tailored for service firms. You can use the software to better manage and utilize your resources, which can lead to an improved bottom line.

QuickBooks® – What Are Items and How Are They Used?

QuickBooks has not only made it easier for organizations to manage their accounting and bookkeeping tasks but with innovative features integrated into the newer versions, businesses can be sure to witness a boost in productivity. A large number of organizations use QuickBooks and for some, it has even replaced the need for an in-house accountant.

Among the many useful tools integrated into QuickBooks, there is another feature called ‘item types.’ QuickBooks refers to items as anything that a company sells, buys, or resells in the course of business transactions. Products, shipping charges, sales tax and discounts are all examples of items. It is easier when items are thought of as something that shows up on an invoice or any other type of sales form.

Different Types of Items
QuickBooks offers around 11 item types that can be presented on a sales form like services and products you sell or the things you buy. You can use items when you create new invoices, create orders for purchase, or you buy new equipment or supplies.

While items provide a convenient way to enter data, much of their role is on the back-end, where all the complex accounting jobs are handled. When you create an item, you are supposed to link it to an account. When the item is used on any type of sales form, it records the entry in the account, i.e. in the account receivable/payable, checking or fixed asset accounts.

Items are really easy to setup, but before you begin, you should decide whether using items is what you want and how you plan to benefit from them. Decide on the nature and amount of details you want on your invoice and other financial statements and be sure to keep these details in mind when you setup each item. For example, if you are a carpenter and you create furniture, you can either charge a flat rate for the entire sofa or break it down into labor and material.

Here are the types of items QuickBooks allows you to setup:
Service: Charged services, like, labors, consulting, and fee.

Inventory Part: Purchases that are tracked as inventory and resold.

Inventory Assembly: Assembled goods, which you purchase, track as inventory and resell.

Non-Inventory Part: Goods you buy but don’t track such as office supplies.

Fixed Asset: An asset, which you don’t plan to convert to cash for at least a year.

Other Charges: Labor, material, service, or, product charges, fees, surcharges, sales tax, handling fee, etc.

Subtotal: Creates a total amount of all the items above it.

Group: Groups offer a great way to associate individual items that appear together on invoices, purchase orders, and other items that can be added to the form at one time.

Discount: Subtracts a percentage or set amount from the total.

Payment: Records the payment received at the time of a sale.

Sales Item Tax: Calculates a single sales tax item at a specific rate that you can pay to a tax agency.

Sales Tax Group: Calculates and keeps records of two or more sales tax items that apply to the same sale.

If you wish to do more with the items option, you may need to look at upgrades for your current version of QuickBooks.

10 Essential Tips & Tricks to Become a QuickBooks Power User

QuickBooks is the most versatile accounting software available. It is ideal for most small and medium businesses. The software can help you monitor business expenses, manage invoices, and organize customers and payroll data. You can set up a chart of accounts for a variety of business organizations with ease. Whether you run a small boutique shop, a financial advisory firm, manufacturing company, or a real estate company, QuickBooks has you covered.

Do you want to know how to accurately record financial data using QuickBooks? Do you want to know how to file tax forms? Do you want to know how to determine your business’s profits or losses? Then, you have to look no further. You will learn this and more so keep reading.

Note: The tips mentioned below relate to QuickBooks 2011 Desktop and above. If you have an older version of QuickBooks, you should upgrade your software since it no longer supported by Intuit. Go to the Products page to purchase your software upgrade.

A. Customize Your QuickBooks Desktop

1. Change the Default View

QB Search

The QuickBooks default screen can be customized according to your preferences. Simply click on Preference and then Desktop View. From this tab, you can opt to change the startup screen, show single or multiple windows on the screen, display home page when opening a company file, or switch to color icons/light background on the top icon bar. You can also customize the display color and fonts displayed on the QuickBooks screen. In addition, if you want to hear specific sounds for actions like minimizing, opening, or closing reports, you can customize this through the sounds tab.

2. Customize the Icon Bar

Customize Icon Bar

The QuickBooks default interface is loaded with icons that you may never need. You may also be missing icons that you may need for easier interface. In order to modify the icon bar, right click on the icon bar and click on Customize Icon Bar from the sub-menu. From this screen you can add and remove icons according to your needs. You can also create new icons by clicking on the Add button. From the Add Icon Bar Item screen, you can select a specific action and write a label and small description of the icon event.

B. Time Saving Tips for QuickBooks

1. Use Keyboard Shortcuts

Similar to other Windows applications, QuickBooks supports a number of different keyboard shortcuts. Using these shortcuts, you can save considerable time in operating the software. Some of the important keyboard shortcuts are listed below:

  • Start QuickBooks without a company file Ctrl (while opening)
  • Create Chart of Accounts Ctrl-A
  • Delete Transaction Ctrl-D
  • Edit transaction selected in register Ctrl-E
  • Find transaction Ctrl-F
  • Go to Other Account Register Ctrl-G
  • Display Transaction History Ctrl-H
  • Create invoice  Ctrl-I
  • Open Customer Center  Ctrl-J
  • Memorize transaction or report Ctrl-M
  • New invoice, bill, check, or list item in context   Ctrl-N
  • Copy Transaction in Register Ctrl-O
  • QuickReport on transaction or list item  Ctrl-Q
  • Open memorized transaction list Ctrl-T
  • Write new check Ctrl-W
  • Display Transaction Journal Ctrl-Y

2. Speed Up QuickBooks Searches

QB Search

You can also customize the QuickBooks searches from the preference screen. The search feature lets you find items in the programs’ help file or in your company file. By default, QuickBooks allows you to choose whether you want to search from the help file or company file every time you make a query in QuickBooks.

If most of your queries pertain to the company file, you can speed up the search by specifying that the software search within that location only.  To do this, click on Preference and then Search. In My Preferences tab, you can specify that the software automatically make a search of the company file without asking you every time you initiate a query.

From the Company tab, you can also specify how often the software updates company file indexes.  Specifying lower duration of indexing will speed up the program. But the searches will not reflect the most recent changes made to the file. In order to update the entries, you can click Update Now button in the window.

3. Automate Form Entry

Automation

Do you have to enter certain transactions regularly? Not in a mood to enter recurring transactions every day? Then, let the amazing memory of QuickBooks works its magic for you. QuickBooks can memorize certain recurring transactions like rent payments, utility bill payments, and depreciation expenses. You can specify that the software make entries for memorized transaction automatically. To access the tool, type Ctrl + M.

4. Record Favorite Reports

Do you work on certain reports regularly that you want to access instantly? QuickBooks lets you do this easily. You can designate certain reports as favorites by clicking on the heart icon underneath the report in the Report Center. You can access your favorite reports from the Favorites Tab in the Report Center.

C. QuickBooks Power Tips

1. Batch Invoicing

Batch Invoicing

QuickBooks 2011 and above has a very useful feature called batch invoicing. Using this feature, you can create multiple invoices for a single transaction. To access this feature, go to Customers Menu, and select Create Batch Invoice.

2. Create Customized Templates

Templates

In QuickBooks, invoices, purchase orders and sales orders are referred to as templates. You can customize these templates in QuickBooks. Just go to Lists Menu, Templates, and right click on a template. From the sub-menu, select Edit Template. You will be taken to the Layout Designer button. You can import your company logo, so it shows on your documents. You can also download additional templates and colorful themes that will enhance all your templates.

3. Paperless Accounting Through QuickBooks

Did you know that you can achieve paperless accounting through QuickBooks? The software allows you to attach an electronic version of the documents to the transactions either locally or in cloud-based storage. With QuickBooks 2012 and above, this feature is absolutely free. To use the tool, click the Attach button with the paper clip icon in any document or template.

4. Enable Remote Access

QuickBook Remote Access is a cloud-based service that allows accountants and other users to log in remotely. The remote access feature is available in two versions: Full desktop access for $7.97 per month or QuickBooks data access only is priced at $3.95 per month. You can purchase this additional service by going to File > Remote Access in QuickBooks.

The above are just a few of the tips that you can use to make QuickBooks more efficient for your business. QuickBooks allows you to save a lot of time, money, and resources when managing your business income and expense data.  The survival of businesses often depends on timely and relevant accounting data, and this goal can be obtained easily using QuickBooks financial software.

QuickBooks small business software

QuickBooks Adapts to Your Business Expansion Needs

The Business Saga

Most business owners have farsighted vision. Even if they start small, they would rarely plan to limit the scope of their business concern. With time and experience, most business enterprises undergo significant growth and advancement in their field. So if you are laying the foundation today, you need to be prepared for what it is likely to become in the years to come.

How the Large Scaled Businesses Came Into Being?
All large and global enterprises began with a single office, understaffed departments and limited resources. Through strategic planning and management and under the leadership of revolutionary innovators, these organizations grew into global corporations. They now safeguard public interest and enjoy worldwide recognition and consumer loyalty!

Most business owners look up to the leaders of these multinational corporations for inspiration. As the wise people say, “You need to start preparing today if you are looking for a bright future tomorrow”. You need to devise a plan of action that helps you incorporate advancements and growth in your business infrastructure with ease. This doesn’t imply you need to have a large office space or that you need to employ more people than what you need; it simply means that your progress goals should be aligned with your resource transformations.

Problem Identification
There are a few business assets like the place, employee strength and ambience that you can change over time. If your business demands more employees, you can always change your location to accommodate the surplus. However, there are a few intricate things more often related to information technology that cannot be changed as easily. Your accounting and finance software is one of them.

Accounting and finance software does not only record your financial standing on a day-to-day basis but also creates several important business records that serve as a guiding light through the years. Migration of this information database from one platform to another is not easy, not to mention that this information is confidential and of an extremely sensitive nature! If not planned for adequately in advance, your software infrastructure has the tendency to become a limiting factor for your business expansion.

The Solution
There is a simple solution to this problem – QuickBooks. It is a revolutionary accounting and finance software that evolves along with your business needs. As your business expands, QuickBooksⓇ adapts accordingly and offers you a competitive edge over other businesses. With your resource management affairs in order, you have the opportunity to focus exclusively on your business expansion needs.

Why QuickBooks?

There are a wide variety of accounting and finance software tools available in the market. Each software promises to deliver a specific set of features and benefits. Why then should you opt for QuickBooks?

It is a One-Stop Solution
The reason is simple; it offers a full, robust set of all the important features you can expect from an accounting and finance software. In fact, QuickBooks specializes in delivering augmented benefits – those that are not being offered by any competitor. This software has truly set higher expectations with business software in the small to mid-sized business category!

Constant Updates
Another important reason why QuickBooks makes an awesome accounting and finance software for your business is this; it has been through series of improvements. QuickBooks is being updated and improved continuously based on emerging business needs. For decades, newer versions of QuickBooks have been introduced to make account management easier for users.

Most of the new features will be released to your current platform through updates. This means you do not need to go out of the way to purchase new software just because your business has developed a need that is not being catered to by the current version. A simple update will automatically be done to the existing software. This makes it easier for you to scale your current software as your businesses needs evolve. These updates are generally happen seamlessly. It also reduces the downtime during which the update is being made.

QuickBooks Categories
QuickBooks can be backed to a cloud network. This puts all your financial information in a secure environment. It is a virtual storage space lent out by QuickBooks to its customers. Backups are created on this server to make sure recovering information is possible.

Besides this, QuickBooks offer several categories of the accounting and finance software. There is a version for basic users, another for those undergoing transition and one for the experts. You can choose to upgrade your features and services through a single click of the mouse. Since there is no informational migration involved, you get to enjoy the peace of mind while your business is being taken care of professionally.

User Friendliness
The QuickBooks platform is extremely user-friendly. This translates into minimal time spent on learning the software while maxing out the utility of the software. The same goes for the updates and advancements in the software. You can be up and running in no time. So regardless of whether it is a small-scale or large-scale business, you will receive the same quality service and dedication your business requires. After all, global corporations initiated their journey as small scale businesses!

Business Expansion and QuickBooks

The initial years will be the most turbulent ones for your business. This is the time when your effort goes into plowing the ground, trying to plant roots and establishing a solid foundation . However, once this phase is over, you will be surprised at the amount of growth your business can generate. If you are reinvesting your business resources back into your business in a strategic manner, you can initiate a self-sustaining fusion reaction that will multiply through the years.

Through thick and thin, your financial records are on of the most important assets your business owns. It not only reflects experience, but it also speaks to how well the business was managed and how much it has progressed over a given time period. It marks your past, present and future. QuickBooks is the only software that allows you to enjoy peace of mind while staying adept with your business expansion concerns. So what are you still waiting for? Test drive QuickBooks today.

9 Ways You Should be Using QuickBooks

QuickBooks is the most popular accounting program on the market, and it is the accounting software of choice for a significant number of entrepreneurs with minimal time to dedicate to trying to maintain their bookkeeping. QuickBooks offers a seamless solution for all the accounting needs of a small business with superb scalability and ease of use; unlike other financial software that have a steep learning curve.

Here are a few ways you should be using QuickBooks for managing your business:

1. Get the Most Out of Existing Reports:

  •   Use the accounts receivable aging to find information on who owes you money, and how much they owe you and since when.
  •   Similarly, use the accounts payable aging to find out whom you owe money to, while you monitor cash flow.
  •   Prepare reports with comparative balances to analyze the trends in your revenue and expense.
  •   Utilize the variety of pre-formatted and custom reports to analyze your business in ways that are of most value to you.

2. Use Budgets:

  •  Budgets present a target or a benchmark. You can compare your plans to your actual results to determine how things are going month to month and year over year. Are your expenses increases? What are the reasons behind these increases? Budgets are an important business tool.

3. Export Information to Microsoft Excel:

  • Using QuickBooks, you can easily export all your data into Excel format. Doing this, will allow you to sort the data and prepare certain graphs and charts that may not be available to you in QuickBooks.

4. Use Classes:

  • By using classes, you will be able to keep track of the income and expenses in a variety of categories, such as by a particular department, location, or any other breakdown that may be useful for your business.

5. Set It Up Correctly:

  •   You should take your time to learn and configure QuickBooks correctly or hire someone to do it for you. By configuring the software properly, you will create a solid foundation to work from.

6. Enter All Data Consistently:

  • Consistency is important if you want accurate reports. For instance, if you enter ‘Albert Co’ at one place and ‘Albert Company on another for the same customer, you will end up with two different customers.

7. Close and Secure Periods with Passwords:

  • When you close periods at the end of the month and secure them with a password, you prevent changes from being made to those specific periods that have been finalized after review.

8. Reconcile Cash at the End of the Month:

  • You should always reconcile your bank accounts at the end of the month to ensure that the cash is accurate. If your reconciliations are accurate, chances are your other business activities will also be the same.

9. Use Adjusting Journal Entries:

  • The journal entries are really useful for entering any transactions or for correcting prior periods. In QuickBooks, journal entries are used to record transactions that do not already have a designated form.

QuickBooks accounting software is very powerful that provides entrepreneurs a perfect platform for bookkeeping. With the proper know-how and practice, you will be able to flawlessly manage all of your incomes and expenses, or at the very least, you will be able to hire the right person to handle it for you.

Getting Started with QuickBooks Online

Small business owners want accounting solutions that are secure and scalable. There are numerous accounting solutions out there, but most of them are far too complex and have a steep-learning curve. QuickBooks Online (QBO) is a favorite of many business owners due to its ease of use and flexibility, as well as the features that makes sharing of data a breeze. This software comes with a mixture of financial tools that simplify the process of account tracking, invoicing, and reconciling bank and credit card statements among many other features.

Here are 8 essential steps that you need to take when getting started with QuickBooks:

1. Find an Accountant
Before you do anything else, you need to talk with an accounting professional (if your business does not have one) about migrating your financial data to QuickBooks Online. You need to confirm the specifics of your business that is needed by QuickBooks, such as the structure of your business, the conventions of tracking expenses and any obligations pertaining to local or state regulators just to name a few.

2. Evaluate QuickBooks Basics
You may already be comfortable with numbers, but it is best that you get acquainted with QuickBooks software. You can find some excellent tutorials on Intuit’s website, which will help you to understand how QuickBooks Online works.

To become a proficient user of the software, you need to know what the terminology that is being used. There is also a number of Quickbooks  ProAdvisors available to train you how to use the software effectively.

3. Set Up a Secure Environment
Whenever your hard-earned money is at stake, security becomes critical. Also, due to the fact that all of the financial information of your business would be in one single place, you must proceed to the ‘Your Account’ section to ‘Change Password’ before you begin entering sensitive information. It is actually good idea to get in the routine of changing your passwords on a monthly or quarterly basis.

4. Input Your Business Vitals

Once you have familiarized yourself with the basics of QuickBooks, and you have set your passwords, you should enter your business’s financial details based on the conversation with your accountant. Among the most important of items are: Business Structure, Reporting Forms, Tax ID Number and Reporting Calendar.

5. Input the Customer Information
The ‘Customer’ tab will let you enter all the details of your clients, including their name, company, contact details and most important of all, the Preferred Payment Method.
You may want to generate a test invoice for them, so they can confirm all the details to be correct.

6. Enter Your Vendor and Employee Information
Under the ‘Vendor’ and ‘Employees’ tabs, you should enter the relevant information regarding your vendor and employees. You can confirm each entry by generating a report using the Report button on the right-hand side of the screen.

7. Start Tracking the Flow of Money
Tracking the flow of money is arguably among the most important of tasks at hand for the business owner. You can access the ‘Banking’ tab to focus on the reporting options and to see what costs your business incurs. You can also connect to other relevant financial accounts like bank accounts and credit cards.

8. Get Familiar with Reports
Accessing reports is quite simple in QuickBooks Online. Click on the Reports tab, and click on Report list. A list of the reports that are available to you will be displayed. Depending on the version of QBO that you are using, you will have access to over 70+ reports including Profit and Loss, Balance Sheet and Statement of Cash Flows. These can all be run for specific date ranges. You will also find Accounts Receivables and Payables reports, and Sales reporting.

QuickBooks Online is a robust software that is available across multiple platforms including desktops, iPad and Android tablets, and smartphones. The 8 items listed barely scratch the surface of benefits of using QBO. Give us a call to setup a 30-day free trial.

Advantages of Using QuickBooks

As an entrepreneur running a small business, you need all the help you can get to streamline your business processes. Accounting and Finance are among the most critical facets of running a business. Your business simply cannot afford to waste or lose any money as it may already be running on a boot-strap budget.

QuickBooks® is among the most powerful accounting software programs that include some of the best features available to help small businesses work as efficiently and smoothly as possible.

As you know, business finance includes many areas that can require your complete attention. It can get quite complicated at times, especially when you have to juggle between managing the finances and running your business. QuickBooks can make this easy for you by offering numerous benefits such as the following:

Precise Money Management: One of the key aspects of business finance is to be fully aware of where your money is going. Recording such transactions is made easy by QuickBooks. You can record all kinds of transactions, set up dates for any recurring bills and do the necessary math required to manage your expenses to the last cent.

Payroll Management: QuickBooks also comes with a built-in payroll feature that lets you manage payroll and its related taxes for any number of employees who may be working at your company.

Sales Tracking: Tracking your product sales and services is important, so you know how much revenue you are generating and which products are generating the most revenue. You can also create invoices for those customers who need invoices for purchasing purposes.

Easy Reporting: You can use the software to generate reports such as Profit and Loss (P&L) statements, balance sheets, cash flow statements, as well as accounts receivable and payable aging. These reports can simplify the process of financial statement analysis.

Easy to Use: Most accounting software has a really steep learning curve. They are cumbersome to learn and initially cause more trouble than they seem to solve. Being a contrarian, QuickBooks is an extremely intuitive program that is easy to understand and extremely powerful.

Integration: QuickBooks has exceptional integration abilities that allow it to integrate with numerous other programs. Once you have input all the data on income and expenses, you can easily export it to tax preparation programs. You can also import data from other applications and use it within QuickBooks.

Customization: There is an abundance of ready-to-use templates that can be used to create invoices, charts, business plans and spreadsheets in QuickBooks. Thanks to the customization features of the software, you can manage the look of each document in order to make them stand out. You can also add your company logo to invoices to give them a personal touch.

Signing Checks: If you have to sign a lot of checks for your business, then QuickBooks can make this job easy for you by allowing you to scan and upload your signature. The scanned signatures can then be used to prepare checks. Automation of this process can save you a great deal of time and effort.

QuickBooks® has a great deal to offer entrepreneurs and small to medium-sized businesses. I’m just beginning to scratch the surface of many features available as a part of QuickBooks. Contact us for more information.

5 Tips to Boost QuickBooks Productivity

Regardless of which QuickBooks® version you use, there are always some techniques that can boost your productivity levels. Every year, Intuit adds some amazing features into its QuickBooks software to help you streamline your work processes.

Read on to find out some great ways to increase your productivity.

1. Use Keyboard Shortcuts
Keyboard shortcuts in QuickBooks are great for speeding up tasks, and they provide power users with a quick way to get things done. Here are some of the most commonly used shortcuts:

  • CTRL + Y – You can view behind-the-scene postings on any of the transactions using this shortcut. For instance, if you have open invoice in front of you, simply press CTRL + Y to reveal an abundance of important information such as cost of item, sales and accounts receivable impact. This information can then be used for any troubleshooting.
  • CTRL + H – Using this shortcut combination, you can view the history and impact on a particular transaction.
  • CTRL + A – Use this shortcut to view the Chart of Accounts list.CTRL + R – You can view the running balance of each transaction by accessing customer accounts and balance sheet accounts.

2. Use the Bank Reconciliation Tools
There are some accounts that are especially suited to reconciliations, such as Checking, Savings, Trust and Escrow accounts. Bank reconciliation tools are a set of wonderful proofing tools that can clear large value and/or volume transactions efficiently. To further simplify things, you can sort the transactions by date, check number or amount.

3. Use Online Banking
If you are not already doing so, you must begin using online banking because you are missing out on a great opportunity to enter and verify multiple transactions quickly. Through the use of online banking, you will be able to reduce the amount of data entry quite significantly. All the recurring monthly charges will also default automatically to the relevant accounts – all you need to do is review and post.

4. Email Invoices
If you’re still printing and putting stamp on invoices, then you’re not only wasting paper, but you are also wasting a lot of time and effort! Go paperless by emailing your invoices to your clients and customers. Send a whole batch with just a few clicks, and you could be saving yourself hours of work depending on your volume.

5. Use the Change Item Prices Tool
Bypass the hassle of changing the prices of each item individually. You can use the Change Item Prices tool to easily change the price of selected items by a certain percentage or amount.

    1. Go to the Customers menu and click Change Item Prices.
    2. Choose the Item Type of the items that need a price adjustment.
    3. In the check column, click the items you want to adjust or click Select All.
    4. In the Adjust price area, enter a number followed by the % sign or manually enter the new prices for the checked items in the New Price column.
    5. Click Adjust.
    6. Click OK.

Simple Tips to Use QuickBooks Successfully

The success or failure of a small business is measured by how effectively it uses resources and time to keep track of its accounts and bookkeeping. As a small business owner, you do not have endless resources or the personnel to track how money goes in and out of the business. You are left handling the accounts all by yourself or at best, when you or someone working with you has a few minutes to dedicate to the recordkeeping. As a result, many small businesses use QuickBooks, which is an accounting software package that helps you operate a business smoothly. If you are running a small business or perform bookkeeping on your own, then these tips can help you successfully track the cash, credit, payroll, and various other transactions with the help of QuickBooks.

Learn the Basics before You Use QuickBooks®
Contrary to what some may say, QuickBooks is quite easy to use. Generally, individuals who have a hard time understanding how the software works do not understand whether sales are debit or credit entry. In order to use QuickBooks effectively, it is helpful to have a basic working knowledge of bookkeeping. When used correctly, QuickBooks is definitely one of the easiest and most effective software tools for a small business to streamline its accounting processes. Many businesses that keep poor accounting records or do not review their work on monthly basis have run into some tough situations because they assumed QuickBooks could handle everything automatically.

Learn QuickBooks by Using the Sample Company File
Never use your live company file to experiment with the various tools and features of QuickBooks. You might end up in a situation where your data is different from what it actually should be, resulting in incorrect numbers on the income statement and balance sheet. If you want to learn QuickBooks, use the sample company file that comes with the software. You can experiment with it all you want without tampering with your live files. Once you get to know how things work in the sample file, you can translate the skills you have learned to your live files.

Install Updates Whenever the Notification Pops Up?
One of the most annoying things about QuickBooks is the notification, “QuickBooks has recently downloaded an update. Would you like to install it now?” It pops up way too frequently to anyone’s liking, but you should still install the updates. These updates help reduce bugs and improve the performance of the software. If you are using QuickBooks desktop versions, then you know it can lag behind sometimes. Therefore, it is important to install these updates because they can improve user experience.

As a general rule, whenever a new update notification pops up, do a Google search on whether the update has any issues or not. If not, go ahead and install it. If there is a problem, you may want to wait a few weeks before installing the update. A new update may be on its tail to correct the issues being experienced from the earlier update.

Though this is not a tip to help you succeed in using QuickBooks per se, the developers of QuickBooks work continuously to improve the software by adding new features, making older features more user friendly, which means it could save you much needed time and energy.

A Couple of QuickBooks Don’ts

One of the most important things for a small business to invest in is an accounting system that can manage its financial activities on a daily basis. Many small business owners may be tight on cash and cannot afford an accounting and finance department that handles its daily transactions and other business activities. As a result, software like Xero and QuickBooks are popular with small businesses.

QuickBooks® helps businesses track sales and costs, run payroll, and follow up on their monthly or quarterly performance. QuickBooks is rated #1, as the best small business accounting software, but not everyone has benefited from it. This situation may be due to a variety of reasons including improper initial setup of the company file, the purchase of an incorrect QuickBooks edition, or the account mapping is wrong. There may also be a lack of basic bookkeeping knowledge, which is helpful when setting up and using most accounting software.

Let’s explore a couple of the don’ts of QuickBooks that may help you avoid a few of the mistakes that other small businesses have made.

Don’t Run Payroll by Yourself
Is it really that hard to create paychecks for employees? Well, to be honest, it’s really not that difficult, and certainly not within QuickBooks, but you still hear stories from other business owners on what a nightmare it can be. So where’s the catch? Well, the biggest challenge is correctly filing the various tax reports on time and in making timely and accurate tax deposits. This can even be a challenge in QuickBooks. Unless you’re an absolute genius in running payroll, you may want to outsource it. Payroll is not a value-added activity for any business. Sometimes, calculating the paychecks involved, making the tax deposits on time, and creating accurate tax filings makes it quite an enormous task for someone who does not have a background in managing payroll functions. Hence, you may not want to risk it and should transfer it to someone who has experience in handling payroll.

There are a number of companies that offer payroll management services. Intuit currently offers the most cost effective service, and they aim for 100% customer satisfaction. They also guarantee the accuracy of their calculations. All you need to do is make sure you correctly report your employees’ hours in a timely manner and ensure the appropriate funds are in the bank. Other than these two factors, everything else will be managed for you. This will allow you to focus on other, value-added activities, for instance marketing, a collection of overdue accounts, and customer service.

Don’t Get Involved in Online Banking Straightaway
Once you create a bank account in your live company file within QuickBooks, you will be asked to connect the bank account with your online account. This may be something you will want to avoid in the beginning. Why you ask? Because without understanding how QuickBooks records credit card and bank transactions, you cannot manage your bank account properly. There’s a high probability that you will end up downloading and entering a lot of data that will amount to trash in your live company file, but it will seem productive since you will be managing your electronic connections much faster.

Remember, garbage in, garbage out.

Learn how banking works in QuickBooks by having someone train you on what to look out for and how it functions or do it manually at first. This will not take you very long since you have a working knowledge of the setup and other activities within QuickBooks. Once you start getting the hang of how QuickBooks handles bank and credit card transactions, you can then connect your live files with online banking.

QuickBooks 2014 Tips to Save Time and Money

QuickBooks has been long been rated as the best accounting software for small businesses. QuickBooks basically allows a business to establish an easy to use accounting system through which a business owner or employee can send invoices, accept payments, scan receipts, track sales and expenses, run payroll, and follow your monthly and quarterly progress. With the 2014 edition of QuickBooks running on your computer, let’s take a look at a few tips that can help you streamline the bookkeeping process.

Hire a Certified QuickBooks ProAdvisor
An Advanced Certified QuickBooks Proadvisor can almost operate QuickBooks with their eyes closed. Well, not really, but these individuals have been thoroughly tested on QuickBooks, and they know the tricks that keep QuickBooks humming. If you’re a small business owner with little to no experience or knowledge of bookkeeping, then it is best that you hire someone else to do it for you, even if you have spent $200 to $400 on accounting package software. Consider hiring a proadvisor who can save you time and effort. This person can update the daily details within the software in an efficient manner, which usually translates money saved.

It’s fair to think, “Why should I spend money on an accountant or proadvisor when I just bought software to handle everything?” But then, not knowing your way around the software will only lead to wrong numbers showing up at the end of the month, which can hinder accurate financial reporting.. At the very least, hire an Advanced Certified QuickBooks Proadvisors to setup your chart of accounts and data file mapping to ensure accurate reporting. Remember, garbage in, garbage out. Hiring a certified QuickBooks ProAdvisor on an hourly, monthly or a per project basis will ensure your entries are correct, and it will certainly be more viable than hiring a dedicated bookkeeper or accountant.

Outsource Payroll
One of the hardest jobs for a small business owner is managing payroll. Think about it. How will you manage to correctly calculate all the paychecks, make the deposits in a timely manner and file the appropriate tax forms on your own? Unless you know your way around running payroll, you should consider outsourcing it. Payroll is a non-value added activity, which is why outsourcing it will not be a bad call. It could cost as little as $900 per year, which is money well invested rather than doing it yourself and not delivering the paychecks or taxes on time. You can make most of the $900 back by avoiding payroll tax penalties.

Online Banking
Using a sample company file, learn how online banking works within QuickBooks. Once you get used to it, link your online banking systems like PayPal to allow automatic download of transaction data into QuickBooks. This provides for more accurate and fast data entry, again saving you time and effort.

Setup Your Whole Accounting System on QuickBooks
There’s a reason why QuickBooks has been reviewed and voted as the best accounting software for small businesses. QuickBooks gives you the opportunity to setup a complete accounting environment on your computer or laptop, which is why you should incorporate every detail of your business within it. This will not only help you easily track your data entry, but will also provide more details when you create your monthly or quarterly income statement and balance sheet reports. The 2014 edition is more intuitive and user friendly than the previous versions. If you have not purchased QuickBooks yet, then do it now to ensure progressive growth through a streamlined accounting system. If you have an earlier version, there is no better time than the present to upgrade to QuickBooks 2014.