QuickBooks Software is a software package for accounting. Intuit developed and marketed it for accounting operations. QuickBooks is specially designed for small and medium businesses and offers many accounting applications and versions. Based on “the cloud”, these applications are used for managing payroll, inventory management, sales, billing, and payment management of the business.
Basically, QuickBooks structure includes 5 items which include employees, vendors, company, customers, and banking. From monitoring expenses to managing vendors, customers and employees are accomplished in an excellent way by QuickBooks software solutions. This program is updated each year.
Value of QuickBooks in accounting operations
QuickBooks accurately maintains all kinds of management records of the business dealings, transactions, and cash flow. The first thing most potential investors will see is the business record of that firm. Accurate and proper bookkeeping shows that you are a serious, honest, and transparent businessperson.
Bad bookkeeping practices as well as inaccurate and disorganized records of your business make you suspicious in front of the public, investors, auditors, tax department, and the internal revenue service. All above-mentioned targets can be achieved efficiently and effectively by using QuickBooks. Many problems and issues can be avoided by using QuickBooks.
Easy to use
There are many accounting software available in the market but most accounting programs are very difficult to learn and use. QuickBooks is easy to learn, understand, and use. Entrepreneurs who don’t have financial education and have no knowledge of accounting can also use and learn QuickBooks with ease.
QuickBooks is easily integrated with other programs. This is one of the biggest advantages of QuickBooks and also saves time and energy by making the export of data more comfortable and handy. Data can be exported easily to other software like Microsoft Excel. After getting the input from all business expenses and income from QuickBooks, all data is exported to any tax preparation software for making filing taxes a breeze.
QuickBooks is used in most accounting operations such as making spreadsheets, charts, invoices, and business plans by many business owners. In addition to making accounting operations easy, QuickBooks can be customized according to the specific requirements of the company. The logo of the company can be added to invoices. All required information in details can be put on invoices. On invoices, a detailed description of all items can be mentioned. This information is useful for both businesspersons and customers. It makes reconciliation of invoices easy for customers and they can pay on time.
Check signing can become extremely burdensome if you sign hundreds of checks in a month. Time can be easily saved by using QuickBooks to sign checks. Just scan your signatures and upload onto QuickBooks. All the business checks will be signed by QuickBooks. This is a time-saving, simple, and automated service provided by QuickBooks.
“Human is to err” is a common proverb. Manual bookkeeping can have mistakes in digits and entries. QuickBooks makes accounting near to perfect. Accuracy in digits and entries is minimized. Calculation errors are reduced. Disastrous situations due to any calculating errors in transactions can be best avoided by QuickBooks.
QuickBooks can instantly generate hundreds of reports of accounting processes. These reports are used to see yearly trends in income and expenses. Top customers can also be tracked via QuickBooks.
Alleviation of huge sheets
The use of QuickBooks can rid you of multiple tables, tracking sheets, balance sheets, and spreadsheets. All of these are alleviated with this software, making accounting processes easy.
Functions of QuickBooks in accounting operations
Following are the most important functions of QuickBooks in accounting operations:
- Expenses, income, and outstanding invoices and all business finances are easily accessible for an overview.
- All reports of loss, profit, balance sheets are available in one click.
- Payments of expenses, including taxes are made by using QuickBooks.
- Makes invoicing easy and prompt.
QuickBooks software is highly user-friendly and maintains records of expenses as well as lists of vendors and customers. Efficient bookkeeping is key to attract potential lenders and investors to fund you in your new business ventures.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.