For a small business organization, it is very much essential to know the Benefit Of QuickBooks. It is one of the best financial accounting software designed for small businesses.
The Intuit designs QuickBooks for the small organization. Many of the small organizations are using it to manage sales and expenses.
This software is also providing lots of features to manage various accounting tasks. Many of the small organization also use QuickBooks to keep daily transactions.
It is also used for financial reporting, pay bills, tax filing, and invoice customers, etc. Before buying the QuickBooks, use the fully functional free trial of 30-days.
In below the paragraph, 8 Benefit Of QuickBooks is mentioned. Every small organization must know the benefits of QuickBooks.
9 Benefit Of QuickBooks
1. QuickBooks Is Easy To Use
The accounting software of QuickBooks has designed in such a way that it is easy and user-friendly. A new function for the user setup is also added to this software.
The new function for the user is also providing users with a virtual direction practice. Almost all the capabilities of this software are initialized with a single click.
2. Manage Income And Sales
With the help of QuickBooks, you can also manage income and sales. You can also track the sales by the customer only by creating the invoices.
It can also help you balance to know your accounts receivable balance. With the help of it, you can quickly understand what your customers need.
You can also know the accounts receivable balance by studying your Accounts Receivable Aging Report. This report contains detail about your past and current due invoices.
3. Make Financial Report
QuickBooks is also helping to make many financial reports easily. These reports will contain your past and present income, expense, and foreseeing documents.
Hence, every report is export into the layout of the spreadsheet. Then it will be transmitted electronically with the help of an email.
4. Scan Receipts
QuickBooks (QB) is also helping to scan the various receipts. If you are a smartphone operator, then you can quickly and freely download the QB app.
To scan receipts is one of the best Benefit Of QuickBooks that will store your receipt. Only you have to do is to click a photo of the revenue, then upload it to QB.
Now, the loss of receipts will not happen more. Because QB will help you to match the revenue with the banking transactions. It will also enable you to affix a receipt to the complementary banking transaction.
You can also upload many receipts in it and also store these receipts in the cloud with your data. This software is very much useful for companies who chase lots of expenses.
5. Billing Of Expenses
Billing expenses is one of the most critical aspects of the business. Whenever you carry out any business activity, then many costs are making which will be billed later on to the clients.
These expenses are sometimes small such as launch and dinners. But many a time huge expenses can make such as prolonged global travelling.
QB has the ability, which is allowing users to document every expense. Furthermore, all the expenditures will correctly save with the client. This software is also allowing users to change them individually.
6. Accept Online Payments
If you want to improve your cash flow, then you have to accept online payment from your customer. With the help of QB, you can also accept Intuit Payments with a simple click.
You have to send all invoices to the client by email In Intuit Payments that includes the “Pay Now” button. With a simple click, your customers can pay their invoices through their credit cards.
They also have to enter their account information to approve an ACH payment from a bank. No monthly fee is charged to use the Intuit Payments.
Customers can pay their invoices through the various option which are as follows:
- Bank Transfers: it is free of cost.
- Card Swiped: it charges 2.4% and an additional 25 cents.
- Card Invoiced: it charges 2.9% and an additional 25 cents.
- Card Keyed-in: it charges 3.4% and an additional 25 cents.
QB also has functions which will help the small companies to handle their funds. One of the best features of this software is that it allows users to manage money.
With the help of this software, you can quickly pay all expenses on due dates. It will also provide you with detail information about all transactions and recurring invoices.
Sometimes lots of invoices are pending, but with the help of QB, users can quickly know about all invoices. At the time of future audits, every transaction is reported for easy accessibility.
Users of QB can also attach their bank accounts into this software. Hence, this software will manage the money and decrease the workload of a small organization.
8. Track Inventory
You can also track the inventory that you have sold with the help of QB — inventories such as unit costs and on-hand amounts.
This software will automatically track and update the information about the inventory which you have entered as a transaction. There are few reports available to manage the inventory in QB.
To keep track of inventory is very much attainable in the Excel spreadsheet because it is very much time-consuming. The Inventory Valuation Summary Report of QB is a list of all your inventory products.
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9. Track Expenses And Bills
One of the best Benefit Of QuickBooks is that it can automatically keep track of expenses and bills. By connecting your bank accounts, QB can easily download your all expenses and categorize them.
If you want to track any cash transaction, then within a minute, you can easily record it on QB. It can also pay your bills when they due.