Posts

Rear view of African woman using computer while sitting in cafe
The default QuickBooks online forms do not have a professional feel and also do not have enough space to fit all of the information related to customers or your business. It’s imperative to customize sales receipts as they reflect the identity of your business.  Since sales receipts are sent to your customers, you want them to be specialized and contain detailed info, which your customers expect. When you send an invoice for a sale or an estimate for work that you plan to do for them in the future, it must entail all key information related to that specific customer as well as critical details of your business proceeding that are important for them to know.

QuickBooks online allows you to customize invoices, sales receipts, and estimates according to your preferences, with little effort. Invoices can be customized by clicking on the Sales Tab which will entail a Gear Icon that will eventually take you to Account and Settings.  The sales tab allows you to work on the following aspects of your business.

  • Sales form content
  • Messages
  • Online deliveries
  • Statements
  • Products and services
  • Customize look and feel

We are going to focus on the last step which refers to customizing your look and feel in QuickBooks Online.

The Customization Phase

Within the Account and Settings tab, you have to go to the Sales Tab which further allows you to select Customize Look and Feel. Once you have reached this point, you will have the option to select among Custom Form Styles or opt for a New Style by clicking the icon with the same name. This will bring you to the Customize Form Style page where the actual process of customization will take place. There are a total of 5 areas where QuickBooks Online can help you in creating a sales invoice that reflects the true essence of your business.

  • Appearance
  • Style
  • Activity table
  • Header
  • Footer

Style

This is typically the first step in the customization phase and you are offered five templates to choose from, which are mentioned below.

  • Airy
  • Modern
  • Fresh
  • Friendly
  • Bold

Each of the above-mentioned templates has a different formatting style and, based on your preference, you may choose one. This will be the basic layout of your invoice, so choose an appropriate style for a specific invoice.

Appearance

The appearance section in QuickBooks Online will allow you to customize the following items on your invoices, sales receipts, and estimates.

  • The way your logo appears and setting an appropriate size for it.
  • Once the size is selected, you need to place it in the right spot. Just drag and drop where you want the logo to appear.
  • Selecting a suitable font for your invoice is also done in the appearance section.
  • Setting line spacing according to the length of the invoice is vital, especially in estimates as they happen to be longer than the rest.
  • For non-custom letterheads, you have an option to include page margins.

Activity Table

The Activity Table in QuickBooks online is a very handy tool for very specific situations. All invoices have columns on them and this allows you to customize the appropriate columns on your sales receipts and invoices. There is an option for you to select the quantity in hours if you charge on the bill by hours. You can also change it to weekly or monthly, depending on your choice.

Header

The Header section allows you to make the following changes to your invoices and other documents.

  • The name of the document would appear in the header and any preferred name is selected.
  • Information about your company such as email, phone number, website and other critical details have to be included in the header section.
  • If there are any terms and conditions of the payment, they must also be included in the header so that it is among the first things your customer reads.

Footer

The Footer section can either be ignored or used in a way to send a positive message to your customer. QuickBooks Online allows you to customize your footer with an appreciation message for your customer such as ‘we are proud to do business with you’ or any other such comments.

Print and Preview

Once all steps are completed, you can go to Print and Preview at the bottom and see all of the changes that have been made. If you are satisfied, save it and you are ready to send your invoice to the customer.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

 

 

 

 

 

 

Businesswoman studying business papers on her desk. Woman working in office sitting at her desk.
Small business owners are often searching for cost-effective solutions to manage their business needs in an efficient manner. This is the sole reason why more and more businesses are now shifting towards QuickBooks Online to manage their accounting and bookkeeping needs effectively.

QuickBooks is an accounting software that is easy to setup and has a simple user interface. It keeps all of your data in one place and ensures smooth processing. You can create customized reports and export them onto other applications using the useful features of this bookkeeping software.

Though there are several training courses available online, most do not teach you how to create inventory assemblies – which is an important part of the QuickBooks online application that will help you ensure efficient management of your data. Though the concept is quite simple and the application helps you out in the process, it can still prove to be a complex task at times.

A Guide to Building Assemblies in QuickBooks Online

We have compiled a handy guide that will teach you how to build assemblies in QuickBooks Online. Before you start, make sure that you have formed detailed records of items that will be added to the assemblies. If there are any new items, you can add those later. However, it is best to add all items beforehand in order to ensure smooth processing.

We have listed all of the steps that will help you create a simple assembly. Several issues can arise when creating and selling builds. Therefore, if you plan on doing these frequently, you should consider taking a QuickBooks class to understand it more completely.

1. Click on the ‘Vendors’ menu and open the ‘Inventory Activities > Build Assemblies’. A dialogue box will pop up in front of you.

2. Click on the arrow next to the category labeled ‘Assembly Item’ and click on the option ‘<Add New>’. A ‘New Item’ box will appear displaying ‘Inventory Assembly’ as highlighted. Select ‘New Item’ and enter the ‘Item Name or Number’ in the field.

3. You will not yet be entering anything in the field of ‘Cost’, however, you can enter a description in the ‘Description’ category. Also, you need to make sure that you have chosen the right Cost of Goods account under the ‘COGS Account’ category.

4. Go down to the box below ‘Bill of Materials – BOM’. Click on the space underneath ‘Item’ and access the list of items present in your inventory by clicking the down arrow. Choose the first option in the assembly and fill up the ‘QTY – Quantity’ field. Go down to the next option and continue doing this process until you’ve entered all of the required information.

5. QuickBooks Online continues tallying the costs of the items present in your assembly, which is not the sales price and puts the total beneath the ‘Bills of Materials (BOM)’ box.

6. The ‘Asset Account’ must display the accurate information. You need to enter the number of new builds that need to be ordered in the ‘Build Point’ field. If you know the amount of builds you have in your hand, type that number in on the ‘On hand’ box. QuickBooks then calculates the total value of your current builds and presents the figure in the ‘Total Value’ box.

7. Once you are done with the above steps, you can scroll back up and issue a ‘Sales price’, which will be based on the cost along with the markup. When you are done, click on ‘Ok’. The screen that comes up after that will ask you the number of assemblies you want to build. Type in the number of assemblies you want to build and save the record.


Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.



 

 

Man creating statistics in modern office. He working on digital devices while sitting at table and turning back to camera
QuickBooks accounting software, designed by Intuit, is known for being one of the best accounting software programs on the market. Although it may not be the most important decision for small business owners, it is essential to differentiate between different suites of QuickBooks. Every QuickBooks software program offers different features that suit unique business operations. Rather than spending money on the wrong type, one should wisely compare QuickBooks Pro vs Premier to find out which version is best for their business.

When new to QuickBooks, it is not easy to differentiate between both editions as both have multiple attractive options. This article will help you decide on the best edition for your business. If you are looking for a desktop edition of QuickBooks, you are likely stuck between QuickBooks Pro and QuickBooks Premier for your small to medium scaled business. Before comparing the features of both editions, you must understand what QuickBooks is and how it can help you in your business operations. QuickBooks is known for being the smartest accounting tool for small business owners. Small to medium sized business owners prefer using QuickBooks for managing their accounting and bookkeeping processes such as paying invoices on time, accepting payments from vendors, and tracking inventory expenses in one single platform. However, before purchasing any product of QuickBooks, one should understand the following points:

  1. The features of QuickBooks products can change. Therefore, research the bookkeeping software just before purchasing any product.
  2. The products in a QuickBooks portfolio have nuances as there are very minor differences between each product.
  3. The products of QuickBooks can be discontinued or replaced with a different product by the developers. Therefore, carefully analyze the product before making any purchases.

 QuickBooks Pro

QuickBooks Pro is a product of Intuit’s QuickBooks accounting software that is designed with an aim to simplify the basic accounting tasks of small business management. Being the oldest product of Intuit in the business accounting range, QuickBooks Pro was created in early 2000. However, to date, QuickBooks Pro has evolved with the ever-changing needs of businesses today.

QuickBooks Pro is a complete software package for businesses who are aiming for a less complicated and more user friendly accounting system. The software does not have additional packages, however, this makes QuickBooks Pro more affordable than the Premier edition.

 Main Features of QuickBooks Pro

QuickBooks Pro has many built-in features to assist businesses in their accounting operations: 

  • Multi-Monitor Support: QuickBooks Pro allows licensed customers to take care of their business faster on three monitors. The program will allow three users of your business to operate with one licensed purchase. With this, a business can manage the list of customers on one screen, while tracking invoices and payments coming from the customer on the other two screens.
  • Past Due Stamp: Another attractive feature is that the program will automatically update a “Past Due” stamp over the invoices that have crossed their due dates. This feature will help in tracking debts and accounts receivables.
  • Search Chart of Accounts: This option enables the bookkeepers of a business to easily track any account or sub-account for speedy accounting.
  • Cash/Accrual Toggle: The software makes it easier to filter results with cash or accruals. This way, a business can compare their performance on a cash and accrual basis.
  • Payroll Liability Reminder: Another great feature is that it reminds a business of their upcoming liabilities.

QuickBooks Premier

QuickBooks Premier has almost every feature of QuickBooks Pro with a few additional, attractive features according to the needs of a business. The software has multiple versions that are tailor-made for a business, according to the industry they operate in. Businesses have the option of 6 industries to choose from, such as:

  1. General Business
  2. General Contracting
  3. Non-Profit
  4. Professional Services
  5. Retail
  6. Wholesale & Manufacturing

Additional Features of QuickBooks Premier

  • Multi-Monitor Support: Up to five users.
  • Inventory Reports: Flexible and customized inventory reports.
  • Search Chart of Accounts: Track any account or sub-account of the business.
  • Cash/Accrual Toggle: Compare performance on a cash and accrual basis.
  • With Pro, a business can easily get a snapshot of their customers.
  • The software allows accountants to use the Income Tracker feature which will show all unpaid dues of the company.
  • By using QuickBooks Pro, you can easily extract important data of your customers in an Excel format.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.


 

Closeup view of male hands holding laptop computer.Blurred background, horizontal. Selective focus on hands
We live in a time where technology changes faster than fashion trends. Every other day, we hear about the demise of a certain technology and the birth of another. From email to QuickBooks, people are quick to say that a certain tool or platform doesn’t work or isn’t relevant anymore.

The question is – does technology ever die? Not if it evolves.

QuickBooks is one of those rare tools that has survived the test of time by staying up to date and even ahead of the times. There may be some firms that are now switching to fancy accounting software, but that doesn’t mean QuickBooks is obsolete or in any way less advanced.

The fact of the matter is that QuickBooks is still used by more than 500,000 small businesses across the world. The main reason behind its success is its simplicity and ease of use, two things that have only improved over time. Accountants and bookkeepers, who aren’t up for making their clients pay an excessive fee, actually swear by QuickBooks. They only recommend an upgrade to a more complex system when the businesses have grown beyond a certain size.

5 Good Reasons you Should Stay with QuickBooks

QuickBooks is Scalable Enough for Your Business

QuickBooks is good enough for an enterprise with up to 30 users. Some upgrades allow businesses to keep their accounting expense within their budget while scaling their accounting software per their needs. If your accountant or bookkeeper is telling you to pay for a fancy tool while your business is still in its infancy, the only thing you should consider changing is your accounting service provider. QuickBooks delivers scalability without compromising data integrity.

QuickBooks Can Be Industry Specific

Don’t let anyone fool you into investing in a tool that claims to be more industry specific. You will end up paying for nothing but a generic product with a fancy mask. QuickBooks has come a long way and there is a huge community that supports this tool. There are numerous modules and add ons that can help you enhance the capabilities of QuickBooks without breaking your bank. Some of the most popular modules include retail, manufacturing, contractor, and non-profit.

QuickBooks Can Be Seamlessly Integrated

Integration is crucial to the efficiency and performance of any tool or software. QuickBooks Enterprise can now be integrated with a number of enterprise systems including CRM and inventory management systems. This seamless integration promises better workflow, but a bit of custom development is required. A reputable accounting service provider or bookkeeping service will help you make the most out of QuickBooks.

QuickBooks Helps with Tracking and Reporting

Essentially no tool can be of any real benefit unless it can provide insightful reports. When it comes to accounting, tracking and reporting are extremely important. QuickBooks allows you to generate charts and reports per your firm’s need. The enterprise version even allows creating of consolidated reports from multiple files. There is a complete customization option to meet the reporting requirements of your company.

Last, but not the least, QuickBooks simplifies the whole process of tracking inventory and managing accounts over various locations. There is a whole range of third-party software and systems that are designed to work with QuickBooks in order to enhance it’s capabilities according to your needs.

The Bottom Line

Advanced accounting tools are not only complex, but they are also costly. QuickBooks is a trusted option, however, it all depends on your accounting service provider or bookkeeper. For any business owner who thinks their company has outgrown QuickBooks, the safest bet is to contact professionals who are well aware of the proper utilization of the tool. You will be surprised to know how much more it can offer.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Women using a smartphone in the display and technology advances in stores. Take your screen to put on advertising.
QuickBooks is a solution that integrates and manages payroll, inventory, and sales for various purposes. It is a software solution that caters to most demands created by the financial and management sections of a business. It is specifically designed to effectively handle loads with features like services, tools, products, and supplies along with customized solutions for training. As it is, no two solutions are the same and widely vary according to the nature and industry it’s involved in. Such software solutions are meant to help in various fields like performance, monitoring, and reporting. It even helps with time tracking and inventory management along with employee administration.

QuickBooks saves time, money, and effort which makes it a highly valued part of the system that can enable a business for success. To enhance and further improve it, there are components of the software that are called add-ons that can boost its service and abilities along with third-party software that integrates into the program to better facilitate the solutions. Usually, the most in-demand services are time-related such as payroll and time tracking. There are so many apps out there that can easily integrate to aid in acquiring accurate and critical data that are important for growth and development. Here are some time card apps that can assist a system easily with QuickBooks.

TSheets

This app integrates with QuickBooks. It helps with tracking time of employees through acquiring information from QuickBooks online. By using TSheets, information regarding tracking time and location are recorded and sent to the system. This allows tracking employee time data that is quick and easily attained even from handheld devices like cell phones and tablets. Real-time synchronization of data makes it efficient, precise and, above all, accurate.

Time Tracker by eBillity

This app helps track team hours and expenses through instantaneous synchronization with time sheets for QuickBooks. Time Tracker can connect seamlessly to easily give updates about time and expenses from anywhere and even approve time sheets on the go. It also simplifies billing and payroll along with creating invoices and proves to move quickly in QuickBooks.

BigTime – Time Tracking and Billing

This app is created by a QuickBooks Gold-Certified developer with an intuitive time sheet that is vastly used. The format is easy and simple to follow, making it easy for employees to get in and out of the system in seconds. The best thing is that it can be done from a desktop, iPhone, or Andriod. It is safe, secure, and reliable for acquiring accurate details. Data is easily derived from Excel sheets to pdf files in a single click. It is customizable and calculations are simple to meet any sort of requirement a company might have.

MinuteDock

This app makes tracking time fast and easy, which makes setting targets and budgets simple and straight. It sends out data to QuickBooks to bill clients or run payrolls and is one of the most popular apps out there. It helps place data on the fingertips of users, making it highly efficient and time effective. Switching between tasks and clients is more proficient and smooth. In addition, employees are allowed to spend more time on other important things when they use MinuteDock.

Mavenlink

Mavenlink is an app that helps professionals deliver projects with reliability. It has built in-time tracking, budgeting, and expense features that are accurate for each project. It is an easy billing option for QuickBooks and also accelerates cash collection with its invoicing features. It is a synced and reliable app that helps integrate on a deeper level with QuickBooks which has many benefits that help a business become more efficient.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

QuickBooks


QuickBooks has proven to be a useful invention in the discipline of accounting and bookkeeping, especially for incumbents and small businesses. Despite the market being flooded by many similar accounting software, such as Xero, Wave, FreshBooks etc., QuickBooks has taken the lead by transcending the competition. It has been the most favorable among small business owners. It’s several versions are catering to multiple business needs that other competing software lack to date. Its transcendence in the market for serving small businesses are attributed to the following reasons.

Diversity & Flexibility

QuickBooks is available in different versions allowing for greater diversity in serving small businesses. Small business owners can choose from an array of versions depending on their unique business needs and specifications. For instance, QuickBooks Pro, QuickBooks Online Plus, QuickBooks Mac, QuickBooks Hosting, QuickBooks Premier Hosting and the sort. Each one comes with a unique set of features to enable businesses to choose the one that fits best with their business needs. The various versions may be purchased according to one’s budget as well, allowing for even more flexibility. Hence, QuickBooks leads the competition through flexibility in pricing and features.

User Friendly

Another reason for this market transcendence is the user friendly interface that it comes with, allowing for easy access and use within the business. Employees working on a legacy system are generally more resistant to change. Traditional bookkeeping has been popularly replaced by accounting software which may be a source of intimidation for employees at work. However, QuickBooks helps with the initial phase of using the software step-by-step and also extends the option to seek professional help, if need be.

Compatibility

QuickBooks offers a compatible interface that may be integrated with multiple vertical market applications easily and without much trouble. This superior compatibility helps with aligning and streamlining every single process within the organization and allows for savings in terms of cost, time and effort. Automation sounds like a brilliant idea when it comes to accounting, but automation to this extent is no less than a miracle for small businesses.

Customization

In addition to the above reasons, QuickBooks has been successfully outperforming the competition due to its ability to customize almost everything related to accounting and bookkeeping. One can customize a chart of accounts to their specific business needs, customize invoices, sale receipts, and estimates. You name it and QuickBooks has it covered! It sure is a one-stop solution for all your tedious accounting hustles.

Simplification of Tasks

QuickBooks has been an innovation in the market to help serve small business needs related to complicated and enervating accounting procedures and activities. Not only has it provided a complete and sorted package for A to Z accounting but it has helped with simplifying complex spreadsheets, returns filling, reconciling, invoicing, and financial reporting tasks throughout organizations, especially for small businesses.

Unlimited Features

QuickBooks has also taken over full responsibility for performing all of the accounting tasks with the provision of its various features. It manages cash flows, invoicing, billing, receivables and payables, employee performance, bank transactions, check printing, online banking, emails, payroll as well as financial reporting. Other features include access to its online version from any and all internet-enabled devices. This is particularly useful for small businesses that are operated remotely.

Business Tracking

Another one of the many reasons why QuickBooks has led the market competition is the streamlining and automation that it has facilitated for small businesses. With its use, business owners have been empowered as they can now track each and every business transaction and workflow hassle-free and in a seamless manner. This has enabled a transparent work environment for small business owners.

Conclusion

Therefore, based on the numerous reasons identified above, QuickBooks has remained victorious in establishing a position for itself in the market – a position that transcends that of any competitor serving small businesses.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

 

 

 

 

Business woman with question mark on a blackboard
QuickBooks is a complex accounting software that requires proper knowledge and training. The nature of the application is quite multifarious which can create problems for users with little or no prior training.

Every department of business has multiple software for managing their workload online.  A sales force of a business uses a CRM system (Customer Relationship Management) to manage their customer feedback, connectivity, customer complaints and all other customer-related tasks. Similarly, to manage accounting and bookkeeping related tasks of a company, businesses often use proper systematic software that can help them in managing their finances. QuickBooks is one such amazing accounting tool that is mostly adopted by small to medium scale businesses.

What is QuickBooks Software?

QuickBooks is an accounting software designed by Intuit Inc. The software provides a set of accounting solutions to businesses which help in managing the payroll, inventory, sales volume and multiple other small business functions. The software’s key features are:

  1. Marketing based tools
  2. Products and supplies
  3. Services for the merchant
  4. Training solutions

However, every solution is designed in accordance with the needs of the business and industry they are operating in. The best thing about Intuit’s business solutions is that they have customized products for every contractor. For example, construction contractors get:

  1. A QuickBooks Enterprise solution for contractors
  2. A QuickBooks Premier contractor
  3. A QuickBooks Pro
  4. A simple starter plus pack

All of these products are specifically designed to meet the needs of the contractor to small to medium-sized companies. This makes QuickBooks the most powerful software which cannot be learned by using a trial and error method. Learning this software requires extreme practice and proper training. However, even trained QuickBooks users skip a few essential tips and tricks that can help in making the accounting and bookkeeping processes easy.

4 Things that you Didn’t Know you could do with QuickBooks Data

  1. QuickBooks is a gold data miner with different versions with different prices and features

As you already know, QuickBooks does not only come with one single software to fit every industry. Rather, it provides multiple solutions to its customers according to their needs. The features available in QuickBooks depend on your business type and the growth of your business. The data you will record through QuickBooks will be all yours. Once your data file is created, you have free access to all of the data which can be later used in a business analysis for your customer survey.

  1. Integration with other business applications that can indicate critical information about your business

Most small-scale businesses have multiple desktop or cloud-based software that help them in carrying out their business operations. By integrating this software with QuickBooks, you will be able to utilize your QuickBooks data with other business software. There are many other business applications that are now providing QuickBooks built-in integration.

  1. Utilizing QuickBooks Data

QuickBooks data has all of the major information about a business’s customers, products, employees, productivity level of employees and the volume of business sales. To best use this data:

  • You have to eradicate the data from QuickBooks and place it in the analysis database.
  • Then, you will need the tool for reporting and analysis process which is properly integrated with QuickBooks data. It will then allow you to see any type of data you need.
  • For bookkeeping purposes, you will be required to create a QuickBooks report that will help you in visualizing the data on a regular basis.

  1. It helps in decision making

As you save and monitor the data of QuickBooks in the shape of reporting files, your company will make more accurate decisions. You will be provided a clear picture of your business that will allow you to make wise decisions for your company’s success.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Architect engineer using laptop for working with yellow helmet, laptop and coffee cup on table.
QuickBooks is an accounting program package that is designed to manage the needs of every kind of small to medium-sized business such as managing payrolls, bills, inventory, sales etc. It offers software solutions for both on-premises and cloud based accounting applications. The package develops solutions according to the need for the industry and includes tools for marketing, services, product and supplies for merchants as well as training solutions.

A contractor version of the software is available. It is built to meet the need of every kind of contractor, therefore, the do-it-yourself accounting is not as easy and many users fall prey to a lot of mistakes.

1.  Incorrect Payroll

Managing payroll is a difficult task and any business can benefit from outsourcing this time-consuming process to a payroll firm. As the local, federal and state laws are changing regularly, managing a payroll can become a complicated task and businesses can be negatively affected by errors that result in tax penalties.

2.  Not Reconciling Accounts

It is necessary to reconcile all of your accounts.  You not only need to reconcile your savings and checking accounts, but also taxes, loans, and mortgage escrow accounts. Otherwise, you will not know if the money in the business account register is correct. 

 3.  Using Too Many Accounts & Sub Accounts 

While one advantage that QuickBooks offers is the ability to create further sub-accounts of accounts, this can also complicate the system and be very time-consuming. It is advisable that this be avoided, if possible, especially in the case of small companies where one parent account is adequate. 

4.  Not Backing Up The Company Data

In order to prepare for the unpredictable, it is necessary to back up the Business QuickBooks files every day. This will prove to be immensely helpful in case of a computer crash.

 5.  Not Reviewing

The balance sheet and P&L statements have valuable insights regarding the health of the business. Reviewing these statements can help catch mistakes before they cause any financial repercussions. Thus, they should be reviewed on a regular basis.

6. Not Setting Sales Tax Preferences

You can set up your sales tax preferences if your business makes sales that are subject to sales tax. To do this, go to Edit → Preferences → Sales Tax icon → Company Preferences → Owe Sales Tax and then choose from As of Invoice Date or Upon Receipt of payment.

  7.  Booking Loans Improperly 

It is necessary to keep a record of any loans taken by the business. This means that each payment’s principal and interest breakdown is monitored and reconciled with the monthly loan balance.

8.  Not Creating User Permissions and Passwords

If your QuickBooks file is being accessed by multiple users, it necessary to give each of them separate roles, permissions and logins.  This ensures that everything happening in your books is controlled smoothly.

  9.  Deleting Transactions

In QuickBooks, a lot of transactions are interconnected and deleting one transaction can affect other transactions linked to the deleted transaction. An alternative choice is to void a transaction rather than deleting. But, that too can cause problems in the case that the deleted transaction is for a closed period. Refer to your accountant and get the transaction reversed through the current period.

10.  Paying Payroll Taxes using the Write Checks Window

QuickBooks keeps track and records the amount of payroll tax a business owes as the payroll is managed in the Payroll Liabilities account. Accidentally paying the payroll taxes through the Write Checks window will result in the paid amount not getting properly deducted from the Payroll Liabilities. Therefore, in order to ensure that the payroll liability balance is properly deducted, it is necessary to pay the payroll taxes from the Payroll Liabilities window.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Wooden road sign with text Payroll against blue cloudy sky.
Understanding QuickBooks Payroll can be a bit of a challenge for some. Whether you carry out the work of payroll on a desktop or in the cloud, you confront a lot of options that guide you with managing payroll according to your needs. QuickBooks is a widely used package by bookkeepers, accountants, and customers. However, there are many users who get confused when they see all of the options related to payroll. It is crucial to understand these beneficial options to carry out tasks effectively, without disturbance.

Desktop Payroll

For those who use QuickBooks desktop payroll, it is essential to know that there is no necessity to fill out the payroll tax form and it comes at a low cost. On the other hand, you can do on your own by filing the payroll tax and good job costing. The work related to job costing is easy in the version that is introduced in desktop. It is considered quite convenient for contractors who want to code for functions. The worker’s comp code can easily utilize all of these aspects in QuickBooks desktop payroll. The same feature is not as easy in QuickBooks online.

Full Service Payroll 

In the course of payroll, full service payroll is considered another effective option when clients are looking for some one rather than you. This is because they need someone to take responsibility for their tax payments and filings. In this respect, full service payroll takes the responsibility of federal and state payroll fillings as well as payments from the accounts of the user.  

Online Payroll

It is important to acknowledge that there is a great difference between QuickBooks online payroll within the domain of QuickBooks online. The most important aspect is that one must be sure that tax rates and previous payrolls are managed and recorded properly. It is essential because it is not easy to adjust them. However, this aspect can be easily sorted out through QuickBooks desktop. The other good thing about QuickBooks online is that they identify the names of their products in the format that you are using.

 Benefits of QuickBooks Payroll

QuickBooks, itself, contains a lot of benefits for small business. It is important to have command over QuickBooks payroll which makes the work easier for those who have a hard time managing accounts. This effective component helps a lot in the management of taxes and keeping the accounts clear regarding employee payments and the number of employees that are engaged in the business. The work can be easily managed on desktop and online. QuickBooks is easy for small business owners to keep appropriate records and proficient bookkeeping. The demand of QuickBooks payroll is increasing day by day because it is so easy to manage. The software is full of options that make it possible to carry out financial and tax work accordingly. It is becoming the first choice among small business owners. For those who are not familiar with the procedures, there are websites that can instruct them on how to get through the process. 

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 


QuickBooks Accountant and Tax Reports provides you with financial and tax information in the form of reports that contain adjusted journal entries, trial balances, listings of fixed assets and income tax details. You can save a considerable amount of time and effort through the use of bookkeeping tools such as QuickBooks. If you would rather have an expert opinion on the matter, QuickBooks offers you a way to prepare a copy of your data for your accountant or bookkeeper. You can limit the amount of access you want to offer using the customization tools in the software.

Accountant Only Reports

This kind of report would contain information for your accounting employees. Adjusted trial balances and journal entries are the main features of such reports. Entries that are posted to the general ledger are fully detailed in the report.

Account Activity Reports

All of the transactions and activities that took place related to your account are the highlights of such reports. Some of the major reports to be included are mentioned below.

General Ledger

The General Ledger is basically a list of all of the transactions that are posted to the respective accounts. It is the job of an accountant or bookkeeper to keep track of beginning and ending balances and include them in the general ledger.

Trial Balance

The ending balance for each account is highlighted in this report. These reports give you a clear picture of your current financial position. This information is important in terms of your future strategy for the business.

Journal

A journal report highlights all of your recent transactions in the form of a listing. The listing is always in chronological order.

Audit Trail

All changes that are going to affect your company books after a specific date are shown in the audit trail.

Voided Transactions

This is a report that consists of all null and voided transactions. An accountant gets the report ready in the accounting software, along with its history. The history is a detail of why the specific transaction was canceled or called void.

Listings

QuickBooks is also quite efficient in providing you the detail of all of your accounting lists. The name of every company related account, along with its remaining balance, formulates an account list. The fixed asset listing, which is a detailed description of an organization’s fixed assets along with their date of purchase and cost, helps the accountant make informed decisions.

Income Tax Reports

Filing an income tax return that is error free and on time is imperative for any business. The process must be completed by a professional or someone who has a complete understanding of IRS rules and regulations. QuickBooks allows you to make a variety of income tax reports for multiple purposes.

Income Tax Preparation

You have a chart of accounts and an assigned tax line specific to each account. The preparation reports give you a complete picture of your finances and taxes associated.

Income Tax Summary

The amount that has to be reported on the income tax form, as well as information about how it was determined, forms the essence of an income tax summary. You can either include the detailed description in the summary or form a separate report for that. It is completely at an accountant’s digression.

Some other reports that can help accountants in better decision making are as follows.

Financial Reports

Financial reports include your balance sheet, cash flows, and income statement. These are vital to decision making. Details about your accounts payables and receivables can be gathered from these reports. Knowing what you owe or others owe you is critical in terms of your future strategy.

Sales Reports

Sales made, orders placed, and pending orders are included in the sales reports. The sales team hands over the information to the accountant, which is then converted into readable information that makes sense. Sales are usually raw numbers, therefore, to make sense out of the data, you have to make the report in a way that is easy to comprehend.

Other types of reports include vendor and payable reports, payroll reports, budgets and forecasts. All are vital to the success of any organization.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.