Is Quickbooks accounting software right for the self-employed or your business

Posted On Sat, August 28, 2021, 6:10 PM
Is Quickbooks accounting software right for the self-employed or your business

QuickBooks Online is a cloud-based accounting software that allows you to manage your accounts and track your finance. It’s suitable for small business owners, including one-person businesses, freelancers, contractors, and startups who want to manage their finances quickly and easily. Since its creation in 2002 (when Intuit launched QuickBooks for small businesses in the US), QuickBooks Online is now trusted by 4.5 million users worldwide (over 200,000 UK users).

Essentially Quickbooks is a simple to use, yet detailed bookkeeping tool. You can automatically organise, calculate and prepare your Self-Assessment, VAT and Construction Industry Scheme tax with Quickbooks. Payroll, invoices, bills and expenses – all covered in one simple subscription. You can also connect your bank accounts so that transactions are automatically imported, so you'll never miss out on any data.

QuickBooks Online is a web-based accounting service that enables you to track and manage all your business finances, from anywhere. Create, send and file invoices and follow up on outstanding payments with reminders and late charges. Plus, with the new iPhone app, you can view your financial information wherever, whenever – so you’ll always have up-to-date information on hand.

Features and benefits

Users feel that it is worthwhile creating a paperless office to reduce paper clutter and save money. With Quickbooks, User are able to keep track of all their business transactions in real-time. This makes it easier for user to be more efficient with their time, both at the office and home. It also makes tax season much simpler and less stressful, which isn’t much of a surprise when compared to messy and unorganized receipts.

Once you are on the Dashboard, you can quickly get to your dashboard widgets. A dashboard widget is a 'pod' that displays the most relevant information pertaining to your company. You can choose between Income, Expense, Bank, and Cash Balance widgets.

Sync with bank. You can connect your banks and credit cards to QuickBooks for a complete, real-time view of all your purchases, cash withdrawals and fund transfers – so no more manual entries! You can import up to 2 years of transactions in single click.

It’s no secret that you need to provide your customers with invoices, but it is also a fact many small businesses fail to do so. This could be due to the time it takes to create an invoice and send it or maybe a lack of knowledge on how to create one. Invoicing can be something of a scary prospect for new online businesses and there are thousands of companies who rely on invoicing software to save them time, money and stress. Let’s face it, In QuickBooks there is a feature of creating professional invoice. You can create customised invoices and brand them with your logo, then email, print or post. Choose whether you want to accept payments with PayPal or bank transfer and your customers can settle up instantly by debit or credit card using the ‘pay’ button on your invoice. Your dashboard will also show you any due or overdue invoices, prompting automatic reminders.

Online reports that show a graphical representation of numbers from your business' accounting records. These reports are included in QuickBooks, where you can view profit and loss statements, balance sheets, sales and purchase summaries, and more (depending on the version you have).

These reports give you a good picture of how your business is doing overall. However, it is also good to know the specific performance of each department and how they affect the overall success of your company. This is where QuickBooks gives you detailed reports that include lists of customers by region, departments and sales figures, among others. There are different contury where QuickBooks use widely like QuickBooks in USA, QuickBooks UAE, QuickBooks UK, Canada Switzerland, France and other countries.


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Anant kr
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