3 Best Features of QuickBooks for Small Businesses
Running a business that you love usually doesn't make you feel tiresome, but what pains most business owners are the inventories. Keep in mind that your business’s money transactions will determine if the company is still worth running at all. If your business transactions are disorganized, you will not know if you are still making a profit. However, tracking receipts is indeed a tedious job, which is why many owners dread this task.
Due to newer technologies and applications coming around, there are numerous ways you can transfer money as long as you are connected to the Internet. However, backtracking of all the transactions from one bank to another requires someone whose task is focused on doing that, and small businesses find it hard to keep up.
This is where QuickBooks comes into the picture, which is an application that can help you do this task faster.
What Is QuickBooks?
QuickBooks is a solution for every small business. It is an app designed to make inventories more organized and less complicated. By using this app, you can pull in your entire company’s transactions in one place and customize invoices according to your brand style. With the help of the QB app, you can even increase your company's efficiency in your accounting process. In addition, the QB app will teach everyone in your business to understand your business finances more comprehensively.
Here are the best things you can do with QuickBooks:
On-the-Go Expense Tracking
With this feature, you and your employees can carry the business bookkeeping in your pockets. Your employees can download the QP apps on their smartphones and keep track of every single transaction. Through the QB app, you can connect their credit cards, accounts, and other payment systems.
Every transaction will be recorded right away, and the app will then categorize the trades automatically. With that, you no longer stress about a missing receipt or a mystery transaction that you can’t figure out. Reimbursements are also made easier with QB, and it can match an image with certain bank transactions, and it even notifies you of every verified transaction!
Automatic Expenses Categories
The QB app can be versatile for your business. With this app, you can categorize your employee’s transactions according to available options. For example, you can collate all gas receipts in one place and categorize them under travel expenses. Organizing these transactions can also make your sales tax filing much easier.
Up-to-Date Books
Since the QB app records every transaction right away, you can be confident that your book will always be up to date. Do you need a year-end report of all your expenses? You can easily extract all the information you need from the QB app.
What’s good about this is you can also quickly get the information for a specific client. Just search for the client’s name, and all related financial deals will appear. In fact, you can review any record you need as detailed and as soon as you need it!
Conclusion
Small businesses often compete in the industry with the same difficulties as the bigger corporations. Unfortunately, small businesses do not have enough human resources and resources to deal with every task that the company requires. For example, tracking transactions is one of the most time and energy-consuming tasks, and dealing with inventories can keep you from focusing on what matters the most. Understanding your financial deals is essential in your growing business, which is why you must work hard and smart simultaneously.
If you still have questions about QuickBooks, then talking to a QuickBooks expert in New York will surely help. Our experts at Totally Booked are Certified ProAdvisors and will help increase your bottom line. Get in touch with us today to learn more about our services!