Why You Need to Set Up QuickBooks Online for Your Small Business

To successfully run your business, you need to keep careful track of all your transactions. Part of that is knowing the costs, especially the prices of each item you sell, and how many products you have left on-hand.

 Tracking your inventory helps you stay on top of what you have in stocks, ensuring that you’ll be able to fulfill all customer orders without much hassle. Pending or upcoming demand will be dealt with accordingly, without any panic in your end due to low inventory levels.

 Proper inventory management also allows you to determine how much money you’re earning, or if you’re losing profit in certain products. By doing that, you’re able to decide if an item is still worth selling or not.

 While a pen and paper may be enough to track your inventory, relying on it won’t be doing much for you, especially for the long term. QuickBooks offers you a place to properly track your progress, inventory, and more.

 You don’t have to be a QuickBooks expert to reap its many benefits. Here’s how:

 1 - Allows you to track costs per item sold

 As previously mentioned, knowing which items are selling and which are collecting dust is crucial to your business success. While manually counting inventory is noble, having QuickBook by your side helps get the job done efficiently.

 You can check your on-hand inventories easily, as well as know which stocks are running low. You can also determine which items need to be replaced and which are selling, allowing you to adjust accordingly.

 2 - Allows you to manage your money properly

 Running a small business is no easy task—apart from worrying about sales, you also need to worry about expenses. QuickBooks comes with features designed to assist you in money management, which can be a lifesaver especially in the first few years of the business venture.

 You can store entire payment information and due dates, which is essential for recurring bills. Once the bills are due, you can print checks directly from QuickBooks. Each transaction is also recorded for your perusal, which is important for future auditing sessions.

 3 - It’s highly customizable

 Perhaps the best thing about QuickBooks is that it's highly customizable. A digital platform performing such complicated tasks can easily end up being confusing to navigate, but Quickbooks’ user-friendly interface is what makes it an extremely popular choice.

 It provides users with templates to use for invoices, charts, business plans, and spreadsheets. You can also customize the documents accordingly, where you can change the entire look and feel of the documents to help them fall seamlessly into your entire brand.

 The customization of invoices is also useful. While integrating your logo is important, detailed information on the sales invoice on each item will help you and your customers pay on time.

 The Bottom Line

 The first few years of your journey as a business owner is never easy. You’ll be bouncing from document to document, invoice to invoice, and inventory to inventory, all in an attempt to keep your business together.

 Relying on the old methods when it comes to your business numbers may be tempting, but it’s best to seek the help of the digital platform to keep things in order. QuickBooks will certainly see to that—and what’s left to do now is get one for your business!

 If you’re looking for a QuickBooks Bookkeeper for your business needs, Totally Booked has you covered. We’ll let you focus on your business, and we’ll do the rest. Reach out to us today!