Any business owner is perpetually seeking novel and unique ways to grow his company – and, as an owner of a small business, you’re presumably even more zealous about your quest for growth than most. QuickBooks is an ideal accounting system for small business owners because it is well-developed enough to manage most tasks (such as invoicing, payment processing, inventory management, reporting, and so on) and simple enough in its functionality not to overwhelm consumers with extra features. Following are some QuickBooks tips for beginners and ways how it helps small businesses:
QuickBooks tips and tricks you shouldn’t miss!
Easier Inventory and Money Management
The first tip for QuickBooks is to connect all the bank accounts enabling them to see all financial records at the same time. QuickBooks automates your most important accounting tasks. Furthermore, it allows you to track Inventory and monitor Cashflows in real-time. This allows you to consolidate all of your financial data on a single platform and maintain a proper record of all tax deductions.
Invoicing
Invoicing is a time-consuming and error-prone process. Rather than embracing it as the norm and obtaining your funds weeks later, you can use an automatic feature of QuickBooks to send invoices directly to your clients. The second tip for QuickBooks would be to set up automated invoices. Invoices will even include payment buttons, allowing your customers to pay you through a protected portal that links directly to QuickBooks rather than emailing you sensitive information.
Payments management
One of the QuickBooks tips for beginners is to use its feature of payment management. Using QuickBooks for Small Businesses provides flexible payment solutions for both online and physical stores. It supports basic debit and credit card payments for bills. QuickBooks also supports Contactless Payments such as through mobile applications as well as e-Check payments. This eliminates the need to account for the money later.
Capability to support multiple users
Another QuickBooks tip for beginners is to use its multi-user feature to eliminate bottlenecking. You can allow different members of your business to manipulate QuickBooks using QuickBooks’ multiple-user capability – with differing permission levels. This eradicates the requirement for you to continuously approve things because QuickBooks, with its different levels of authorization for each user on your system, can act as your moderator.
Simple and convenient to use user-friendly design
QuickBooks is a very user-friendly accounting software with simple language, an easy-to-navigate interface, a wide range of tutorial videos, and a virtual orientation. The absence of jargon within software helps ensure that small business owners with no or confined accounting experience and knowledge, besides accounting professionals, could reap the benefits mentioned above.
QuickBooks is among the most powerful and user-friendly automated accounting software programs. However, making the most of this software depends on how well you can understand the tips and tricks of using QuickBooks correctly. Meru Accounting is here to provide you with more effective QuickBooks tips and tricks.
