When you are running a business, simpler is often better, provided it doesn’t come at the expense of accuracy and efficacy. By simplifying your record keeping, QuickBooks will save you both time and money.
It’s All in Here
An all-in-one solution to your accounting needs, QuickBooks allows you to conveniently keep track of your sales and income while also managing bills and expenses, preparing profit and loss reports, monitoring cash flow, and more.
Keeping tabs on your expenses is vital to remaining profitable, but it can be difficult to effectively deal with piles of invoices while managing regular monthly payments. Knowing at any given time whether a payment has been made, is due, or is past due is important, and QuickBooks makes this easy for you. Rather than spending hours sorting, organizing, and adding up bills, QuickBooks will allow you to create a clear, concise Accounts Payable report in minutes, showing the status of all your bills, and when the time comes to make a payment, simply print a cheque and send it in the mail.
In fact, it is not just Accounts Payable reports that QuickBooks can generate for you, but other important documents as well, all of which come pre-built and do not require more than a few simple clicks, such as:
- Statement of Cash Flow allowing you to monitor all inflow and outflow
- Profit and Loss listing your income minus all expenses giving a net result
- Balance Sheet showing your assets and liabilities at any given point in time
With this information at your fingertips, the fiscal health of your business will always be made clear to you, any time you need.
From Time-Consuming to Time-Saving
Another time-consuming part of running your own business is managing payroll, and it can also lead to issues with your employees in the event of errors in calculation or delays in making payments. QuickBooks can take this worry off your hands with the purchase of a payroll subscription, giving you access to up-to-date payroll tables for the calculation of employer and employee taxes. QuickBooks will calculate federal and state taxes automatically, fill in the tax forms for you, and allow you to pay your employees with either a cheque or direct deposit. Payroll is integrated with QuickBooks, ensuring that your financial statements are always up to date with your most recent pay period.
Offering more than just accounting, QuickBooks also allows you to manage your business’s inventory. Keep track of purchases made from vendors and payments made. Quantities of goods received, as well as all items sold to your customers, provides you with a live inventory at all times, ensuring that optimal stock levels are maintained.
A Solution for All Your Needs
So, what if you would like to monitor your inventory and prepare reports, but don’t need help with payroll? What if you are a self-employed freelancer? What if you want to be able to access all your business information on the go? QuickBooks has you covered with a product line that is sure to meet your specific needs:
- QuickBooks Online allows you to send invoices and estimates on the go, manage and pay bills, access your data online from a PC, tablet, or smartphone, and more.
- QuickBooks Payroll allows you to run payroll, file taxes, and organize employee information, all integrated seamlessly with QuickBooks.
- QuickBooks Desktop covers your everyday tasks and the information you need most.
- QuickBooks Self-Employed is perfect for freelancers and sole-proprietors.
- QuickBooks Enterprise has different editions tailored to your specific industry.
- QuickBooks for Accountants is exclusive to members of the ProAdvisor Program, designed for professionals with multiple accounting clients.
- QuickBooks Mobile App lets you bring your business with you and do your most important QuickBooks tasks.
Save Time, Effort, and Money
No matter what your business needs might be, QuickBooks has a solution to make you faster and more efficient, and that will save you both time and money, letting you focus on what matters most—growing your business.
Sharon Perry and her team are all Certified Pro-Advisors. Contact us today to help decide which version is best for you and your business.
***This blog is for information only and not to be used as tax advice or planning. Information is subject to change without notice.