Quickbooks Premier is the best software for a construction company’s accounting and financial management. It is the easiest software to use on the market for construction companies. The software will enhance company management and lead to long-term financial improvement.
This article is going to cover every aspect of Quickbooks Premier to provide you with the knowledge of why it is perfect for your company.
Let’s start with the application of the software. It would be best if you had a basic understanding of construction and construction accounting. With these basics in construction, you can separate the parts that are performing well and that need improvement. Construction accounting allows you to break the project into nine cost groups that are affiliated with a phase.
A number of simultaneous users
A single user can use one copy of Quickbooks, but it allows up to 5 users to insert data in the same Quickbooks premier file at the same time.
Data file size
Quickbooks Premier is great for SMEs as it works fast and accurately with 150-200 MB reports. This can serve you for at least ten years, so it is a good investment as it can store numerous amounts of invoices and estimates data.
Creating Email Quotes, Sales Orders, Invoices, and Purchase Orders
You are given three options for creating the above documents:
- Microsoft Outlook, the outbound emails are tracked through them
- Web-based emails (Microsoft, Gmail, Yahoo)
- Via the QuickBooks email servers provided by QuickBooks (extra fees apply)
Printing Checks, Paying Bills, and Managing Expenses
With the Quickbooks checks stock, you can print them out. A voucher style and a wallet style are also available.
Manage Payroll, Payroll Taxes, and Direct Deposits
Payroll and their deductions are recorded in the payroll tables. If you need to use an automated service for payroll, you can subscribe to the QuickBooks services for extra charges.
One-Click Business Reports
After entering the complete business data and estimated data of the competitors, QuickBooks Premier enables you to get a complete business report with a single click. Something that is not possible with manual bookkeeping.
Import Data from Previous QuickBooks Premier Version
You can easily import data from a previous version of QuickBooks. With newer upgrades, this step becomes a snap of data.
Import Data from Excel
Quickbooks Premier has a feature called wizard import. This can help import all the data from your Excel sheets (customer list, vendor list, item, or accounts chart) into Quickbooks. This is an easy accounting solution software for companies.
Download Bank and Credit Card Transactions
If your bank account allows information to be downloaded into QuickBooks Premier, then the option exists in the software without any extra cost. You can easily download and save information in the spots fixed in the software. Remember to read the functionality for the efficient use of this feature.
Creating a Budget
You can create a budget on QuickBooks Premier with the budget tool. You can create a single budget for each year of business. This tool also creates a small spreadsheet and permits the copy of prior year numbers and posts them. You can compare actual reports vs. several budgets to observe business performance. For the advanced feature, an add-on program is available for purchase.
Inventory Tracking and Setting Reorder Points/Creating Assemblies/Bills
QuickBooks also provides an awesome bookkeeping feature for tracking inventory using reports like “Stock Status by Item” and “Stock Status by Vendor” reports.
Efficient business reports and the creation of a feedback loop for companies with Quickbooks Premier allow you to identify improvement zones. This results in creating an infinite loop of successes for your business.
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