QuickBooks is one of the most popular and comprehensive accounting software options available, so it is no wonder that thousands of businesses across the globe use it every day. Although QuickBooks is easy to use, the software comes with so many excellent features that it can take a lot of time and energy to familiarize yourself with all of QuickBooks’ capabilities. So, to help you get started, here are seven tips you need to know to get the most out of the world’s most popular accounting software. Once you begin incorporating the following tips into your QuickBooks usage, you will be able to streamline many of your business operations.
Use ProAdvisor
If you are still getting to grips with everything QuickBooks has to offer, you can use ProAdvisor, which is part of the QuickBooks Intuit Package. It connects you with a local accountant who can help you get started with the software and all its features. Furthermore, the real-life accountant can advise you on things like your business structure, tax requirements, and offsetting expenses.
Use Software Integrations
You can get more out of QuickBooks by using third-party software that integrates with it. QuickBooks currently integrates with more than 650 popular business apps. For instance, if you have a growing pool service business, you will probably need an operational software tool that helps to connect various elements of the business, such as scheduling and dispatching facilitation, logging service call-history, and tracking inventory. So, choosing a pool service management software that can integrate with QuickBooks is crucial. If the software syncs in real-time with QuickBooks, your business can reap two significant benefits.
Firstly, your accounting is seamlessly connected to your field operations. Secondly, with pool service software for QuickBooks, your accounting data is captured accurately, so any potential errors are caught in advance. So, choose the right software that integrates with QuickBooks for your company’s precise needs.
Input Accurate and Detailed Customer Data
One great feature of QuickBooks is its Customer Tab. You will find it at the top center of your screen. There, you can enter all customer details and customize elements to your preference. For instance, you can input whether a customer pays by cash or card. By setting up your core customers in one handy place, it will be much easier to handle tasks like reconciliation and invoicing.
Print Checks
Printing checks can be both time-consuming and expensive, but you can make your monthly reconciliations easier by printing out your own checks directly with QuickBooks. No longer will you have to outsource and pay check fees to banks. Simply go to the Banking Tab on QuickBooks and choose the Write Checks option. Simple!
Pay Bills
Did you know you can easily pay bills with QuickBooks? All you need to do is go to the software’s Online Bill Payment option. By streamlining the bill-paying process, you can avoid unnecessary and time-consuming steps. Things will also be easier when it comes to reconciling your accounts payable.
Use the 1099 Vendors Feature
If your business uses contractors or freelancers, you can set up QuickBooks’ 1099 Vendors feature. It enables you to sort your payments and sales taxes to your independent contractors and helps to eliminate the end-of-year stress of generating 1099 forms.
Use Memorized Transactions
Your business life will be made easier when you use QuickBooks to automatically make regular transactions. You can simply set up each transaction that you want to be memorized. Click on Lists and go to Memorized Transaction List. Then choose Memorized Transactions and click on New Group.
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