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5 things you didn’t know about QuickBooks

I was an accountant student in high school, and every time I was in class, I used to tell myself that there must be a software that will help me do all the calculations and do the job even better. I was right, and I came across this fantastic software which is called QuickBooks.

QuickBooks is an accounting software used by small companies to manage their accounting work. In order to have a successful business, you should have the right accounting service. QuickBooks helps you do all sorts of business operations such as invoicing customers, creating business data and reports, and getting you ready to pay your taxes.

To give you a great insight into this accounting software, QuickBooks offers you a free 30-day trial to test by yourself how effective this software is. You will have access to every tool in the software so you can fairly judge it. Currently, QuickBooks is offering a 50% discount if you decide to purchase it. In this article, we will talk about the main uses of QuickBooks and 5 things you absolutely need to know about the software, so keep reading until the end!

 

What are the uses of QuickBooks?

QuickBooks will run various business operations for you, including business reports, making professional customer invoices, paying your bills. You can also use it to track your business performance and calculate your annual business taxes. QuickBooks is easy to use to run it by yourself or hand over this task to a bookkeeper. 

 

  • Managing Sales & Income

To have a successful business, organization is the key. QuickBooks will deliver that for you. Managing your sales and income is necessary to keep everything in order, and this is something that you can do on QuickBooks. It will create customer invoices for you and keep track of past due or current invoices that customers owe you. You don’t have to let your customers remind you of what to pay or not anymore. 

  • Keeping Track of Bills & Expenses

One of every business owner’s struggles is to keep track of their bills and expenses. QuickBooks is here to assist you with that. With QuickBooks, you can connect your bank and credit card accounts to the software and track all of your transactions, which you can check at any time you want. 

There is an option on QuickBooks to help you stay on track with your bills. You can create an Accounts Payable Report, which will remind you of any current and past due bills to pay. 

  • Gaining Key Reporting Insights to Your Business

Reporting is critical in order to run a profitable business. Business reports provide great insights into the financial management of your company. Reporting showcases all of your spending, profits, and growth. With QuickBooks, you can do all of this easily. Every transaction and operation is saved in real-time. You can use these business reports to make future business plans and create market prices forecasts, which will generally improve your overall business management. 

You can also use these reports as documentation proving your business score, which can be used to convince a potential investor or a bank to get a loan.

 

5 things you didn’t know about QuickBooks

QuickBooks was first launched in 1994 by Intuit for small and medium-sized businesses. It used to be very basic, but so many options and updates have been added to the software over the years. If you have been a user of the software for so long, there are some things that you might still learn about it. If you are a new user, here are five things you didn’t know about QuickBooks. 

 

  1. Monitoring your team’s access

With QuickBooks, you can set who sees your files and which files can be seen by the rest of your team. It is important to have some of your business info available only to you as the business owner. Of course, transparency is key to building trust among your team members, but there should always be some boundaries. 

  1. Creating custom menus

QuickBooks is a user-friendly software, and that’s why we believe that you can manage it by yourself without the need of a bookkeeper. QuickBooks gives you the option to customize your menus and icons as well as marking some of the business reports as your favorites by clicking on the little “heart” icon under the report. You can also name your business report to make it easy for you to access them. 

  1. Using the Search function the right way

Searching for specific data, a file, or a transaction can become an irritating inconvenience when running a business. This happens, mostly, with large database companies. If you directly use the search function to look for a specific operation, this might slow down the software. However, we have a little tip for you to avoid the wait. To start with, click on “Preferences” and then go to the “Company Preferences” section. An “Indexing” box will appear on which you can modify the time interval for saving your transactions. Choose a longer interval, more than 30 minutes, to avoid any slowdowns. 

  1. Customizing business reports

As we said before, business reports are extremely important and are a must for every business, whether big or small, to have. Sometimes, these reports may contain useless information, making it difficult for you to find the right lines you want. With QuickBooks, you can customize how you want your reports to be made with the right information that you need. Simply go to “Report” under the “Preferences” tab and click on “Prompt me do Modify Report Options,” where you can make all the changes that you want. 

  1. Tips & Reminders for the new users

Not everyone is familiar with using software tools that are replacing human work. With QuickBooks, you can turn on tips, reminders, and pop up messages for new users in order to help them use the software effectively. To turn on these reminders, go to “General Preferences” and then activate “Bring back all one-time Messages.” 

 

QuickBooks is an excellent tool to manage your business accounting. It’s innovative, user-friendly, and time-saving. These are some of the many advantages which will contribute to the well-being of your business. Did you know about these 5 advantages? Are you familiar with other useful ones? Let us know in the comments!

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