Why Should Companies Use QuickBooks As Their Accounting Tool

QuickBooks is a versatile software program, designed primarily for small and medium sized companies that want to keep track of their finances. It’s come a long way from its humble beginnings back in the fall of 1990.  Companies can choose from multiple versions to fit their specific needs and even choose between traditional “software based” applications or online “cloud hosted” versions. Every company needs reliable way to manage the financials and this is where QuickBooks is a great fit. The tasks are easy to complete and everything is calculated automatically and precisely. Having your accounting automated in this way will allow you to monitor your income and expenses so that you can manage day to day operations as well as properly prepare for end of year tax filing.  By being able to accurately see where you stand, you can forecast your future growth and decide the best places to allocate resources so that you get the best “bang for your buck”.

Easy To Set Up And Use

QuickBooks software is very easy to set up and you don’t have to be a computer genius to install and use it because the built in step-by-step guide does pretty much everything for you. The QuickBooks guide will suggest the steps to take during the installation and as soon as you are done with the setup, you can easily import your files from Excel, Microsoft Office, or any other software that your company uses.

Real Time Insights

If you want your company to operate and run successfully, then there is an imperative for tracking each expenditure and income. All versions of QuickBooks software are fantastic for money management as it calculates data automatically and shows you the results immediately in real time. You can easily enter payment information about your company as well as tasks such as due dates for bills and invoices, printing checks, and linking bank accounts and company credit cards so they can automatically reconcile by using the built in bank feeds option.

Reporting Features

Another huge benefit for many companies are the easy to use template reports.   These include key financial reports, such as cash flow statements, money balance sheets, P&L statements, etc in addition to having the ability to alter data and the layout to create the specific reports that you need. This gives you the ability to quickly analyze your financial situation and health of your company and as a result, make better and more accurate financial decisions. For businesses with employees, management of payroll reporting is done in a snap as QuickBooks tracks and calculates the amounts owed to your employees – and depending on the level of QuickBooks Payroll used – can even provide you with the most current tax tables.

Multiple Options To Fit Your Business

The QuickBooks software comes in a few different versions, made to suit the specific needs of every company. QuickBooks Pro is the entry level program, which is great if you need general accounting program.  There is also a Mac version of the software (QuickBooks for Mac) just in case you aren’t a Windows OS fan!  QuickBooks Premier is the next level up and differentiates itself from QuickBooks Pro by allowing up more concurrent users (up to 5 vs. 3) and adding industry specific reporting.  QuickBooks Online is a hybrid combination of Pro and Premier with “anytime, anywhere” convenience because of its internet based and multi-user accessibility. QuickBooks Enterprise is the flagship product designed specifically for bigger companies that require more powerful software for multiple users.  Depending on the subscription level you choose, the new 2015 version gives you the Advanced Inventory and Advanced Pricing features included, custom report building with Advanced Reporting and and in two for the three versions, and even QuickBooks Enhanced Payroll at no additional monthly or per person charge.

Have More Questions?

With the complexity of many businesses today, an accounting program like QuickBooks should not be considered as a luxury, but more of a necessity. All versions are affordable, so make your pick depending on what suits your company the best.  If you have questions or need help deciding (as most people do!), feel free to give us a call at 866-949-7267 or email us by clicking here.  In just a couple minutes of discussing the needs of your business, we can have you pointed in the right direction.