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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.

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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.

 

 

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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.

 

 

 

 

 

 

 

 

 

 

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Regardless of the nature of a business, the most vital requirement in running a business is to handle the various bookkeeping tasks effectively. Improper or incorrect recording of business activities will be disastrous for any business. The first issue in incorrect invoicing is that the business operations will be incorrectly recorded. It could cause delays in getting funds for different projects.

Incorrect or unsystematic business records can also make it challenging to file your taxes or even land you in hot water with the Internal Revenue Service. Using QuickBooks to keep your financial records lets the company evade those possible glitches in management.

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

  • General Business
  • General Contracting
  • Non-Profit Organizations
  • Professional Services
  • Retail industry

Why Does a Company Need QuickBooks?

Easy to Use

The main issue with bookkeeping programs is that many of these programs are hard to use and difficult to maintain. QuickBooks, on the other hand, is intended to be instinctive and easy to comprehend, even for businesses that lack the necessary accounting or financial information about the company for bookkeeping.

Ability to Work with Other Programs

The capacity of the software to incorporate with other programs is a huge benefit of QuickBooks. After using the product to take account of all the expenses and income generated by sales, the senior management of the company can easily export that data for filing taxes effectively. QuickBooks also has the capacity to integrate Microsoft Excel for all of the necessary data from different sources for useful bookkeeping.  

Customization Options

QuickBooks offers different ready-to-use templates for businesses to use for generating invoices, business plans, charts, and spreadsheets. It also makes it easier for the QuickBooks application to customize the feel and theme of the documents for bookkeeping. The customization option gives the users a different approach to change their invoices according to the needs of the business. The ability of QuickBooks can help business owners in organizing their information about business activities and each activity is recorded separately. 

Signing Checks is Easier with QuickBooks

Businesses are required to sign several checks every day for different needs and activities. Using QuickBooks makes it easier for business owners to write checks for various expenses. QuickBooks has an automated process that saves time and generates signature checks by a simple and easy to use method for bookkeeping.

Extensive User Base

QuickBooks has an extensive user base; the product is popular around the world and many experts have frequently tested the software. The extensive user base indicates that QuickBooks is very useful and reliable. QuickBooks has features that makes it cost effective for companies to use this software. The market does not have a similar product that can match the extensiveness of QuickBooks for bookkeeping.

QuickBooks is compatible with other applications that makes it easier to export and import data from QuickBooks. This solution is ideal for small businesses who cannot afford to have multiple applications. They can simply import data from an excel sheet to generate online invoices. The premier edition has features that enables the company to have their own customized software that is according to the specification of an industry. For example, QuickBooks for a hospital will be significantly different from QuickBooks for an engineering company.

Multi-Monitor Support

QuickBooks allows their certified customers to take care of their business activities in a very effective way. It allows three users to use the application by using a single license purchase. Using the multi-monitor support, a business can manage the list of its customers on one screen while it can track the invoice and payments coming from the customer on the other two screens.

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.

 

 

 

 

 

 

 

 



What is QuickBooks?

QuickBooks is an accounting software package that is developed by Intuit. This software is an assisting program that helps you carry out various accounting solutions with ease and organization. The software targets small to medium sized businesses to help with their accounting services and is now also available with cloud-based versions complete with payroll, pay, and manage bills functions.

How is QuickBooks Beneficial for your Business?

If you are a small business or a start-up, QuickBooks is the ultimate accounting tool for you. Some of its unique features and benefits it could bring to your company are as follows.

Money Management

QuickBooks has features that help small and medium sized businesses manage their finances and money. This software allows you to keep track of transactions, pay timely bills, and keep each transaction recorded for audit purposes.

Expense Billing

The accounting software allows you to record and tally each of your expenses, no matter how big or small, allowing you to keep better track of your money.

Sales Invoices

QuickBooks allows you to create and print invoices at the touch of a button. Hence, helping you to keep proper track of your inventories and providing you ease in your business operations.

Why You Can’t Buy A Used Copy Of QuickBooks

Intuit and all partners that are licensed for the sale of the QuickBooks are strictly against buying and using old copies of this software. This is because customers who buy used copies of the program and try using it always face problems and issues leading them to not get the best results from the software. This dissatisfaction causes customers to cease use of the software and a lot of money and resources are put to waste. It is strongly recommended that all customers buy new copies for a better experience and smoother performance.

The most common problems faced by those who buy a used copy of QuickBooks are listed below.

Installation

QuickBooks could be installed using a CD or by buying an online version and downloading it to your system. However, as the installation process progresses, the software asks you to provide a particular license and product number.

If your copy is original and new, the license and product code are provided and this allows you to continue with the installation. However, if your copy is used or comes from an unauthorized dealer, you will not have the correct license and product number. As a result, you will not be able to install the program and, in turn, have lost your money and time to do something that was not productive for your start-up or small business.

If a problem is faced when downloading an original program, the customer help desk is always available to sort out your issues.

Registration

If, by any chance, you have the original license and product code for a used copy of QuickBooks, there is a huge chance that you will have issues registering the software.

In the original software, Intuit verifies if you have a genuine version by asking you to enter your Intuit account details. Further more, you are requested to put in contact numbers and mailing IDs. If a used copy is installed, Intuit will detect the version of the software that you are trying to use and recognizes it as registered under a different name already. In that case, it will deny you access to your program or access only limited features of the software.

Usage

Even if you somehow manage to get through the process of registration and installation, the limited features that Intuit would allow you access will not provide you with the results that a new software would. Hence, wasting valuable resources such as time, money, and a disgruntled customer experience.

It is suggested that buying a used copy of the software is a bad idea and it is better to get a new version of QuickBooks for your small business or start-up.

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.

 

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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.

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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.

 

 

 

 

 

 

 

 

 

Business colleagues working together on a computer in an office.
Innovation, such as QuickBooks, has revolutionized traditional accounting procedures. The greater emphasis on automation of the various processes has enabled a real-time exchange of information, increased mobility via remote accessibility to information, and greater autonomy to business owners who are now less dependent on their financial advisors. This is primarily because automation has made information easier to comprehend. The plain and boring manual bookkeeping is now more interactive and fun following the advent of accounting software like QuickBooks.

Why Not QuickBooks Desktop?

Initially, QuickBooks Desktop was introduced during the 1990’s and was welcomed by many businesses in order to simplify their accounting procedures. Despite its various features allowing for greater customization in terms of tracking expenses, sales as well as generation of budgets and reports, this desktop version has been outdone in terms of performance by QuickBooks Online. The reasons that led to a decline in its popularity and necessary upgrade to a newer version are as follows:

  • The single user mode has been an obstacle for many businesses that require multiple user scenarios within the company. This obstructed the access to the desktop system by a user at all times. Single user mode only allows one individual to log into the system and work on it. Multiple user mode is a necessity for businesses today, owing to their virtual transcendence and the need to have real time access to data remotely.
  • Another issue that was faced by businesses using QuickBooks Desktop was the disruption caused due to the annual upgrade. This not only cost additional money to the business but also led to system disruptions and hanging.
  • In addition to the previous point, any and all disruptions caused by the system upgrade had to be managed through paid support. This version of QuickBooks does not come with free support, rather it must be paid for.
  • Furthermore, the installation of an upfront software onto the server has been boisterous for businesses. The 21st century is marked by cloud-based tools to share resources and information in real time. The use of an installed system seems obsolete in the present era. This is most likely to entice the movement from QuickBooks Desktop to QuickBooks Online.

Why QuickBooks Online?

With the introduction of a newer version, businesses have switched to this online version of the software. The additional benefits derived from this upgraded version are as follows:

  • Allows for a multiple login mode whereby up to 5 users can have access to the interface from any remote location via an internet enabled device – PC, Mac Book or Tablet.
  • Another benefit of switching over to this version has been the increased automation. Invoice scheduling, connecting to online applications, and online hosting phone support have all become available with this newer version.
  • Moreover, QuickBooks Online allows for automatic downloading of all business transactions, a feature that was missing in QuickBooks Desktop.
  • The cloud-based online presence of information and resources has allowed businesses to move over to this version, thereby enabling virtual transcendence across the globe.
  • Any and all software upgrades are provided free of cost, unlike the desktop version of QuickBooks. The latest updates on products and features are also inbuilt into the system, requiring no additional cost.
  • Lastly, another important reason for this upgrade has been the cost savings through the QuickBooks Online version, which demands a monthly subscription, relative to the annual payment that was required for the desktop version. In addition to this, no software installation is required, an internet connection is all that you need to start its 30-day free trial.

As a result of the upgrade in its various features, QuickBooks Online has captivated attention of most businesses that are now switching over to the more flexible and mobile version of QuickBooks.

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.