• Willjoe
    Businesses deal with numerous customers and handle multiple transactions every day. Now, to keep the business aligned with its main objective, it is important to track the Finances involved in the daily transactions. Enterprises employ separate teams just to manage their Inventory and Accounting needs. However, a small business can not adopt this approach due to its constrained resources. In such a situation, an online tool like QuickBooks for Small Businesses can be of great help.

    QuickBooks is a software tool that can collectively manage all aspects of a company’s finances. It offers features like Accounting, Invoicing, Tax Calculation, and Tracking Tools that can automate an organization’s Financial Tasks. This article will introduce you to QuickBooks and will explain its different versions and advantages. Moreover, it will explain the use cases of QuickBooks for Small Businesses. Read along to get a thorough understanding of QuickBooks!

    1) QuickBooks for Small Businesses; Tracking Bills & ExpensesQuickBooks sync its services with your Credit Card and Bank Accounts. This way it monitors your Bills and Expenses and maintains records automatically. It also lets you edit the records manually in case you need to add or remove a transaction. Another key use of QuickBooks Self Employed is in tracking the upcoming Payments and managing your unpaid Bills. The software will notify you regarding both of these issues regularly.

    2) QuickBooks for Small Businesses: Printing Financial StatementsYour business may require Financial help to expand in terms of size and production. This will require external loans that you can collect after presenting a Financial Statement depicting the Financial Health of your business. QuickBooks can print such Financial Statements in the form of reports by monitoring your Financial Transactions. QuickBooks can print the following 3 types of Financial Reports:

    Profit and Loss Report: The Profit and Loss Report summarizes the difference between your Income and Expenses over a period. The report contains records representing the Loss and Profit over a week, or a month, etc. Balance Sheet Report: The Balance Sheet Report depicts the Assets, Equities, and Liabilities of your business over a certain period. QuickBooks’ Inventory Management feature can provide the necessary data related to this report. Statement of Cash Flows: The Statement of Cash Flows lists the endeavors that affect the Cash Inflows & Outflows for your business. QuickBooks tracks the ongoing transactions of your business regularly to generate this report. Therefore using QuickBooks for Small Businesses ‘ reporting can save a lot of valuable time.

    3) QuickBooks for Small Businesses: Simplifying Tax CalculationQuickBooks plays a major role in managing your Taxes. Businesses face a huge challenge in calculating an accurate Tax Return. Due to variations in their monthly business revenue, it gets difficult to track down the exact Income and Investments. QuickBooks can automate this for you and thus will save your time by compiling your Tax Return. You just need to print your Financial Statement for the past year and that will provide you with the sorted data required for your Tax Return calculations. Moreover, QuickBooks Cloud helps businesses to access their data from any part of the world.

    4) QuickBooks for Small Businesses: Accepting Online PaymentsSmall businesses can enhance their customer experience by offering online payment options. So, for fixed fees, You can use QuickBooks Payments which is an in-built payment tool, to send E-Bills to your customers which they can pay online. QuickBooks for Small Businesses also helps in tracking the Sale, Credit Card Fees, Payments, etc., and provides you with a detailed record of your online transactions.

    To know more about Quickbooks Cloud Accounting visit https://www.apps4rent.com/blog/factors-to-consider-before-quickbooks-cloud-hosting/.
Add a Comment

Welcome to the KeyMander Forum!

Welcome to the KeyMander Forum! We encourage a community of KeyMander enthusiasts to help and support other members. As a member, you can share and download game profiles, share tips and tricks, and get the latest information about the KeyMander.

By submitting information to us, you acknowledge and agree that IOGEAR will collect and process that information about you in a manner consistent with our Privacy Policy