QuickBooks is by far one of the most popular accounting software applications in the world today. Whether self-employed, the owner of a small business, or the CEO of a larger company, you most likely use QuickBooks, in some capacity. QuickBooks software boasts some unique advantages over its competition. Some of these are in the form of advances in technology, and features that you simply won’t find on other accounting software, currently. Here are some of the latest and greatest advances in the QuickBooks bookkeeping software.
Instant Backups to the Cloud
Cloud storage is quickly becoming the favorite way for people to store their personal data. Many individuals today use cloud applications like Dropbox and Google Drive to organize their files. They no longer need to take up valuable space on their computers and hard drives. Because of the sheer volume of data used by a business, it makes storing data locally an expensive task. Cloud storage is the wiser, better option.
One QuickBooks feature allows you to backup all your accounting data to their secure server and cloud storage system. This way, if a system error occurs, compromising your local files, all your accounting data remains intact. This makes it far easier for your accounting department to balance your books at the end of the year. Moreover, you can easily track all of your expenses, payments, and bills with the cloud storage feature. Best of all, it can be done on the go too, as the cloud allows for synced data across multiple devices.
Manual Transaction Logs are a Thing of the Past
One of the most common places for errors to occur in a company is when transactions are being recorded. Accounting departments have struggled for years to maintain a lack of errors when recording this data. It almost never works out. Transactions in a business happen every day on a very frequent basis. Whether you are accepting payments on your credit card machine or buying a business lunch for some potential investors, each transaction matters, no matter how small.
QuickBooks now possesses the capability to solve the problem of human error when entering transactions manually. It connects to sites like PayPal, as well as bank accounts and credit card accounts. Any transactions made during the day get entered into the system, and without the interference of a human. Any required calculations are made while the data is being entered, which saves time that would otherwise be used computing numbers and carrying out the cleanup of records.
Better Organization of Financial Records
Gain the ability to access reports whenever you want with automated financial records. Imagine the results you get when the system automatically enters transaction information. You can use this report to check out your corporate spending and figure out where you can afford to take measures to cut costs. Cost savings are hard to come by in a business. Even the smallest amount saved is considered a big deal, as you well know.
With QuickBooks, this is a major possibility. Run reports and display them automatically on certain dates or every defined interval. Make your business operate more efficiently with transactions clearly presented to you, and in detail. Another perk of this is that you get to tell who your best customers are. You can also which customers aren’t the greatest, and why.
Tax Deductions are Now Easier
This is one of the biggest perks of using QuickBooks’ latest features and versions. Tax season is the worst season for any business owner. Regardless of the size of your company and the number of earnings you have each year, doing your taxes is annoying. QuickBooks allows you to perform tax calculations and deductions automatically, taking the hassle out of tax season. For example, even if you aren’t in the US, the software helps you calculate your tax deductions in accordance with the tax laws in your region. Find yourself saving thousands of dollars in deductions due to this bookkeeping software.
Automated Email Alerts and Billing
Nothing is worse for bookkeeping than late payments. If your customers are constantly late on their payments it wreaks havoc with your records. This problem is often compounded as tax season draws near. With QuickBooks, you control your cash flow by sending automated alerts to your customers, via email, when their payment due dates draw nearer. The software also allows you to set up automated bill payments to ensure that you’re never late on your own payments either.
These are just a few of the advanced features QuickBooks users get to enjoy, with the key feature being automation. QuickBooks enables automated features, such as billing, email notification, financial record entry, transaction tracking and data backups. These benefits allow you access to more accurate data. Even better, easily access all of these benefits, even when you’re on the go, and across multiple devices in many locations. With QuickBooks, your accounting software turns your small business into a booming franchise, while you enjoy convenience and savings.