Benefits of Using QuickBooks Online
One of the greatest benefits of using QuickBooks Online is the ability to bill your customers for their time without having to go through the trouble of creating separate invoices. The program allows you to fill out time sheets using any internet-connected PC and automatically bills your customers based on billable hours and rates. You can also track transactions and results and generate budgets with the help of QuickBooks Online.
Other QuickBooks Online Benefits
Inventory Accounting
Inventory accounting is necessary if you plan to sell your products. QuickBooks Online Plus supports first-in, first-out inventory tracking, which helps manufacturers to determine their profitability. It also allows you to update inventory costs, create purchase orders and send them to vendors. In addition, the program helps you separate taxable items from non-taxable ones, and you can set up alerts if you run out of stock.
Integration
QuickBooks Online allows you to import receipts and sort them into the right tax categories. This will help you avoid extra work during tax time. It also provides you with income and expense forecasts for up to 90 days, helping you plan ahead and inform purchasing decisions. It can help you save time and money by allowing you to sort expenses by category. The software also allows you to send documents and messages to your clients without leaving the flow of your work.
Reports
Another great feature is its ability to generate budgets. With the help of transactional data, you can estimate future revenues and expenses. This can help you identify any weaknesses in your business. QuickBooks Online also has budget templates that are based on past budgets. All you have to do is enter the amount you need for the year and it will calculate the monthly averages for you. There are many ways to use budgets to manage your business.
Save Time & Money
In addition to saving time and money by using QuickBooks online, it will help you to be better prepared come tax time/ With the help of QuickBooks Online, you can easily share information with your accountant. Its user-friendly interface makes it easier for people without financial knowledge to use the software.
Download our QuickBooks Online Conversion cheat sheet to help you decide to move online.
Improved automation drastically reduces the amount of time spent on accounting tasks.
Allows multiple users to access the account simultaneously. Being able to pull your books up on your phone or computer is helpful too.
QuickBooks’ provider, Intuit, has data warehouses that store the data in multiple locations and keeps backups – so you don’t have to. There is no risk of losing your data due to a failed hard drive or lost computer.
The product is always up to date and there’s nothing for you to do.
Provides bank and credit card integrations with expanded financial reporting. Additional Fee
Access may be granted to your accountant/CPA without it counting toward your maximum users.
Plus
No software or local data to manage – no upgrades or release updates
Robust assistance center with online chat
Easier app sync with nightly automatic downloads
You can automatically send invoices, statements, and reports
Bank and credit card transactions download nightly
Track inventory first-in-first-out (FIFO)
iPad and iPhone apps are free with automatic sync
Option to receive payments by credit card and ACH electronic payments
Migrate to QuickBooks Online today and start saving time tomorrow. We’d love to help you to experience its benefits. Give us a call today.