How Accounting Software Can Streamline Your Business

How Accounting Software Can Streamline Your Business

Effective accounting can be a hassle for any business owner but neglecting any aspect of your accounting processes can cost you valuable time and money. A small business must keep track of their expenses, invoices, payroll, and overall budget totals. Luckily, a QuickBooks Accounting Software Package can help you out by automating many of your accounting needs. You will save a ton through automation and can spend that time on your customers or improving products and services instead.


Organization


By using QuickBooks, all of your information is in one location, you can save countless hours of wasted time. You will be able to see your profit and loss, expenses, bank account transactions, sales, invoices, and most other reports needed all in one place. No need to search through stacks of papers to find a single receipt and if you hire a bookkeeper QuickBooks will be even more convenient with a professional to help you go along.

Syncing


A great time-saving feature of QuickBooks is the ability to sync your bank account with it. Connecting your bank account to QuickBooks is easy and by doing so, you can automatically record transactions, eliminating the need to upload the information manually. Another time-saving option is the ability to snap a photo of your business receipts and load them through your QuickBooks Online Mobile application.



Easy Invoicing


Naturally, neglecting your invoicing can result in clients not paying for goods or services. As a business owner, you must notify your clients of what they owe to continue to operate your business. Fortunately, QuickBooks makes creating, sending and tracking invoices to clients easy. Additionally, QuickBooks can identify which accounts are past due. Instead of manually identifying overdue accounts and handwriting overdue notices or payment reminders, automatically send these notices to your clients with the click of a mouse.



Payroll


If you have employees, you must have an payroll process. QuickBooks has a  payroll feature that can help with that. Instead of spending forever calculating each person’s individual pay, leave time, and taxes, you can complete your payroll in minutes. The great thing about integrating your payroll with QuickBooks is the ease of tax preparation. When tax preparation time comes around, you will already be prepared and all the information will be there.



Inventory Tracking


If your business depends on inventory, it is essential that you track, monitor and replenish it constantly. With QuickBooks, you can manage your stock by producing your own skus, which will allow your business to monitor all inventory that passes through each stage of your business from the warehouse through customer purchase. Instead of spending hours counting items on a shelf you will know exactly how many of each product you have on hand.

Totally Booked offers bookkeeping by QuickBooks Certified ProAdvisors based out of NYC. Get in touch today to see how we can help!

Tanya S