What is Quickbooks? Quickbooks is an on-demand accounting software package originally developed and sold by Intuit. Quickbooks products are primarily geared towards small and mid-sized companies and provide on-demand accounting software with various other functions and features such as payroll, track and pay taxes, and manage and pay expenses. However, Quickbooks Pro is a more advanced version of the software which includes additional features. These additional features can be beneficial to small and mid-sized companies in expanding their business.
If you run a home-based business or a small office, you may need Quickbooks. The main reason why Quickbooks is ideal for your business is because it can be accessed from any modern-day computer with an Internet connection. This is ideal especially for people who need Quickbooks software at home to manage their accounting and financial transactions. Now that there are multiple versions of Quickbooks available in the market, you should know the benefits of each one so that you can pick the best.
Although there are many reasons for using Quickbooks, one of its most popular uses is its capability of allowing you to monitor your finances and track your spending as well as its ability to provide you with an up-to-date and comprehensive report about your finances, income and assets. With Quickbooks Pro, you will also get to enjoy new features like expense tracking, invoice validation, employee payroll capabilities, and employee benefit planning and calculation. You can also use Quickbooks Enterprise Solutions, a bundle of modules, which can help you in your business activities.
Using Quickbooks to track your expenses is easy and fast. You just have to enter the details regarding your company’s expenses in the company file and Quickbooks will generate an estimate based on the information entered. With this type of estimate, you can easily see where your company can save money and maximize profits. For example, if you find that you are spending more than 20% of your profits for your monthly overhead costs such as internet and phone bills, then it is time to install Quickbooks in your Quickbooks application so that you can track your company’s internet and phone bills.
Invoicing is probably one of the most basic and common features of Quickbooks. It comes in different forms such as electronic invoicing, manual Invoicing, online invoicing, and so forth. Before you can start using invoicing, you should first install the appropriate modules for invoicing in Quickbooks. Once installed, you can easily create custom invoices for your customers by entering relevant information into the fields provided. If you are a business owner with many branches or locations, then you can select the invoice type, number of copies, and the applicable fees for each copy. Invoices can be created and saved for easy reference.
Quickbooks has powerful features that allow you to manage financial management and make important business decisions based on your financial data. You can import and export data from Quickbooks Pro or other Quickbooks products such as Quicken or Solomon. In addition, you can keep track of payroll, employee expenses, and so forth through a simple user interface that is designed especially for small-business accounting needs. You can perform payroll functions such as deducting, paying, and tracking deposits and payments quickly and easily through the Quickbooks Online Payroll feature, which are also supported by Quickbooks Enterprise Solutions.
Inventory is another important component of small to mid-size business accounting needs. With an efficient inventory tracking system, you can easily keep track of the inventories you own and make necessary adjustments as inventory becomes out of stock or otherwise in need of immediate replenishing. To achieve maximum cost savings and efficiency, you should always keep track of your inventories and their current state using a desktop inventory manager application. The desktop inventory manager software will provide you with a comprehensive overview of your entire inventory, including seasonal trends, end-of-year sales, average order levels, and more.
Quickbooks is easy to learn and use. If you are just beginning to use Quickbooks, it is recommended that you begin with a free version to test the waters and see how it works. Once you feel comfortable with the software, you can upgrade to a full version at a nominal fee. In addition, Quickbooks Home Server can be used to run your business accounting software from a remote location, allowing you to save money on office equipment and postage costs as you don’t have to pay employees to work at your location. If you need an online solution to your payroll needs, Quickbooks can provide you with a complete solution that includes automatic deposits, invoicing, and much more.