QuickBooks is small business accounting software. It is useful to manage income and expense of business. It has efficient features such as to invoice customers, pay bills, generate reports, and prepare for taxes. This software provides features which are beneficial to small business and also saves time. The software generates financial reports at the end of month and year, also it prepare for quarterly or annual business taxes. Day by day there is growth in small business and hence there in need of something which handles finances of business. So that the time shall be saved otherwise manual calculation and generating payment slips can be a tedious job. QuickBooks make every calculation easy and payment, payroll is managed easily.
These are the best features of QuickBooks
Manage sales and income
Software user can manage sales and income in QuickBooks. It is possible by creating invoices to track sales by customer. This can be done by reviewing your Accounts Receivable Report, which includes the details of both current and past due invoices.
Profit & Loss Report
Profit and loss analysis is very important for any business. If the business owner can easily analyze about the profit or loss they are going to deal with, it will be great advantage. QuickBooks run the profit and loss report is very less time. It will show you how much profit you are going to get by analyzing income minus its expenses. The report shows you the net income (loss) for a specific time, it could be weakly monthly or quarterly.
Balance Sheet Report
Balance sheet is summary of financial balances of particular business. Small business can grow fast if there balance sheet are up to date and managed properly. QuickBooks gives balance sheet report which shows the equity assets and liabilities for business at particular time. It is easy to create a balance sheet report in QuickBooks.
Keeps Track of Bills & Expenses
Small business tends to grow when they are in demand. In such cases if the business is generating large number of bills and doing daily transactions, for them billing and expenses is a part which consumes time. The best feature of QuickBooks is that it automatically keeps track of bills and expenses by connecting your bank and its credit card accounts. Therefore all expenses is differentiated and downloaded. If you need to know the details of particular check or cash transaction, you can record it directly in QuickBooks in just a few minutes. QuickBooks will also help you pay your bills when they’re due.
Payroll is the important part which should be perfect and there shall not be any single mistake. If payroll are managed manually then there is chance of lot of calculation mistakes which can make employees unhappy. This can affect business badly as it can bring down the trust of employees on you. QuickBooks automatically generate and run payroll as the service needed. QuickBooks keep up-to-date payroll hence it is really good for handling finances and paying employees. Using QuickBooks you can directly pay to your employee or you can give them check, taxes are also managed automatically or you can also use e-pay option.
There are many such functions provided by QuickBooks such as they show insights for your business by which you can track your business finances and understand the flow of your business as well as you can manage loans and taxes using this insights. QuickBooks also provided feature of paying and managing taxes, it means you can easily give information to your tax experts by generating username and password. This saves the time as we do not need to spend time in collecting receipts and bills.
QuickBooks helps in accepting online payment as there is option provided to pay online. This is done using credit card or linking your bank account. This is beneficial to attract customers because there are different modes of payment. Another useful function of QuickBooks is that it scans the receipts. There is no need to keep collection of that all slips and receipt’s. You just have to click image of receipts and upload it on QuickBooks. The receipt for particular transaction can be attached to that transaction. QuickBooks is best for all the small business,it is best option to grow your business in less time.