Reasons That QuickBooks Is Best for Small Businesses - What to Know

Bookkeeping and accounting can be excessively complicated processes for the average small business owner. Not only does it require an exorbitant amount of effort to track and maintain, but it also consumes a lot of time on top of everything else you have to do.

Lucky for you, QuickBooks provides a nifty, comprehensive, and user-friendly way to handle all your bookkeeping and accounting needs. Through the use of this simple accounting suite, small business owners can easily manage their business’s books and accounting without as much as a sweat. 

Here are seven great uses where using QuickBooks can benefit your businesses.

It can control and monitor cash flow

One of the greatest and most basic uses for QuickBooks is to monitor cash flow. By keeping your QuickBooks files updated, you can monitor and manage the flow of money in your business. That easily provides you with a way of viewing all the data so that you can identify possible points of improvement for your business.

The use of QuickBooks also allows you to reconcile books better. Frequently reconciling your books allows you to check for errors and irregularities, providing you enough time to remedy the situation before it causes issues.

Makes invoicing quicker

QuickBooks has a function that allows you to make and send invoices directly from inside it. This way, clients are not left waiting on you to give them an invoice for the payments they hand to you. This ultimately decreases accounts receivable and helps increase cash flow.

Provide an avenue for online payments

Having an online payment system set-up will help your cash flow move along quickly—and QuickBooks has a way to help you set it up. For only $0.50 per transaction, you can activate the Intuit payment network services that allow customers to pay for your invoices online. 

Simplifies vendor and supplier payments

Your relationship with your vendors and suppliers always have to be maintained properly for the prosperity of your business. Through the use of QuickBooks, you can manage your accounts payables with them easily. You may pay your bills directly through it, allowing for a more fluid and more efficient transaction.

Provides timekeeping & payroll functions

Your employees’ timesheets can easily be managed and tracked via QuickBooks. Simply log in their timestamps on the employees’ section and move on to tracking their productivity.

It also provides a way to manage your employees’ payroll. You may contract an outsourced payroll service to handle all the nitty-gritty details and track their activities all through QuickBooks.

Boost Efficiency with memorized transactions

By using QuickBooks’ function to memorize transactions, you can make things more efficient instantly. Simply have it memorize highly regular invoices, bills, journal entries, and payments, and simply click on one of the saved transactions when you need it. This way, you can automatically deduct from your checking account highly regular payments, or send invoices to clients with regular fees.

The Bottom Line

The benefits of using QuickBooks are endless, but ultimately, it can make your business processes faster. It’s simple and easy-to-use, making for a completely efficient tool to manage your business’ books and accounting.

Are you looking for a QuickBooks certified bookkeeper and consultant in New York? Get in touch with us, and schedule a consultation with us today!