One helpful tool in making small local businesses run more smoothly is a software tool called Quickbooks. So, what exactly is Quickbooks, what are its features, and what does it do?
Quicbkooks is an all-in-one tool that allows for businesses to manage their transactions being processed, their expenses, payroll, and to track their receipts. It can be connected to other services such as Google PayPal, Square, and Shopfiy, and it can also be used from a mobile device or a tablet.
A business can connect Quickbooks to their credit cards and bank accounts in order to categorize, see, and organize their expenses. It can also process and track customer’s credit card purchases in order to allow the business to track and manage its cash flow. Additionally, since Quickbooks is connected to the business’ bank accounts and credit cards, it is capable of processing monthly payments on behalf of the business automatically, so that things like website fees or utilities for the storefront are taken care of.
Quickbooks also allows businesses to create invoices to send to customers. These invoices can be customized and catered to the individual business, in order to look more professional and in line with the brand image. When these emails are sent out with invoices, Quickbooks also can add a “Pay Now” button to make processing credit card transactions easier for the customer.
Another feature of the software is assisting the business with preparing its taxes. A one-click report can be generated, which shows things like profits, expenses, and net profit, as well as other important financial information. Payments being made to contractors are automatically tracked for ease in preparation of 1099 forms, there is paperless receipt tracking that can be utilized, and your Quickbooks can also be linked to the business’ accountant so that he or she can access records at any time in order to prepare tax forms more efficiently.
Quickbooks also aids in inventory and payroll. It is able to manage and track shipment and stock information for inventory, as well as how much each item in the inventory has cost the business, in order to set prices and determine the best way to maximize profit. A business can also file payroll taxes through the software, and it can also issue automatic payments to the employees of the business. This is done by simply entering the hours worked by each employee, and selecting whether or not the payment will be issued by direct deposit or by check.
Finally, the software is convenient and mobile, allowing business owners to manage these features from their smartphones or tablets. A business owner is able to access customer information, send invoices, and utilize the paperless receipt service from their smartphone by downloading the Quickbooks app, which is synchronized to the account which is set up on the software.
Overall, this software is an excellent tool to be utilized by small businesses everywhere, and can save business owners plenty of time and hassle by bringing all of its needs into one convenient software.