If you own your own business, you need to know about Quickbooks Online. This is a wonderful software program, developed and marketed by Intuit, that makes managing the financial aspects of business much more streamlined. It also integrates easily with other Quickbook programs, and recognizes many popular online shopping marketplaces.
How Will it Help?
Quickbooks online offers a variety of ways to track the many various needs of your business. Each business has individual needs which you can easily tend to using the Quickbooks program, be it tracking expenses, sales, hours, or taxes. You can also allow employees, or your accountant, access to the program, while setting clearance levels for each individual user. This limits the amount of information they are allowed to access, allowing your employees to take advantage of the invoicing aspect of the program, without allowing them to access sensitive information.
Estimates and Invoices
You can easily create estimate for clients, accept signatures, and then convert those estimates into invoices using this program. It also allows you to create detailed invoices to instantly bill and accept payment from customers.
Quickbooks lets you collect payment from clients immediately as well. This can be done through a mobile card reader, bank-to-bank transfers, and many online marketplaces such as Amazon and Etsy. These payments are recorded inside the program, allowing you to review them later, or reprint/resend receipts. Another great feature of this is it automatically calculates and applies any federal or state required taxes.
Expense and Tax Tracking
If you have a business, you have business expenses. Quickbooks takes the stress and mess out of tracking these expenses. It allows you to track any and all expenses by either inputting the information yourself, or simply uploading images of receipts. Then, it takes this information, and automatically files it into the proper tax categories in order to maximize your potential deductions at the end of the year.
Quickbooks allows you, or your employees, to track the hours they have worked. It then allows you to calculate payroll to be sent out, while automatically calculating and deducting any federal and state taxes to be withheld. It allows you to make payday even easier with free, 24 hour direct deposit or by creating and printing checks at any time.
Manage Inventory Efortlessly
Quickbooks allows you to track every product in your inventory, making reordering supplies as effortless as possible. Not only does it track inventory, but it also shows you the most popular items people have purchased. Along with these awesome features, it also keeps record of your vendors, allowing you to create purchase orders and send them out in order to keep your business well supllied.
Not only will Quickbooks allow you to track expenses, payments, and employee payroll, but it also makes applying for loans quick and easy. You can apply through Quickbooks, and upon approval, receive the funds directly deposited into your business account. This is a quick deposit process as well, only taking one to two days after approval for funds to be available for your use.
Quickbooks seems like a very useful tool for anyone who owns their own small to medium sized business. The program offers three different levels of subscription to fit your individual needs.
Their first package is titled Simple Start, and offers the most basic coverage for any business, including tax calculations, invoicing and estimate creations. It touches all the bases you’ll need to help take the hassle out of managing your business. This product normally costs a mere $20.00 USD a month, but right now Intuit is offering this package for only $10.00 USD.
The second package is called Essentials, and the subscription to this is currently only $17.00 USD. Normally this package is $30.00 USD, and it offers all the benefits of the Simple Start package, plus a few extra useful features to take even more stress out of owning and operating a business.
The last subscription Intuit offers their Quickbook clients is called Plus, and is their all inclusive package. This program offers the most comprehensive financial management system, and allows you full access to all aspects of the Quickbooks program. This program would normally run you $60.00 USD a month, but can currently be purchased for only $30.00 USD a month.
In addition to these three wonderful programs, Quickbooks also offers add-ons to help manage employee payroll even better. Overall, Quickbooks seems to be an invaluable tool for tracking and managing all financial aspects of running your own business. With their different levels of subscription, you are guaranteed to find something to help you exactly where you need it most.