What is QuickBooks Benefits, and How It Works for Businesses

Bookkeepers and accounting professionals using QuickBooks Accountant can simplify tax preparation through ProConnect, a professional tax management solution. QuickBooks Online allows you to create invoices and either print them or email them to customers. You can create a new invoice from scratch or by converting an existing estimate into an invoice. The program is known for its customizable invoices—making it our overall best invoicing software. You can upload your company logo, select from different templates, change the invoice colors, edit invoice fields, and add personalized messages for customers. Get any-time access to balance sheets, cash flow asset definition and meaning statements, profit and loss statements, tax and VAT/GST information, and other customisable financial reports.

Schedule recurring invoices

The initial release of QuickBooks was the DOS version that was based on the Quicken codebase. The Windows and Mac versions shared a different codebase that was based on In-House Accountant, which Intuit had acquired. The software was popular among small business owners who had no formal accounting training.

QuickBooks Business Checking Review 2024

Those who want to take their accounting on the go will appreciate the mobile app. It brings most of the features of the online platform, plus it enables mileage tracking and receipt capture for quick and convenient recordkeeping. QuickBooks Online is a good option for many small businesses that are looking to make invoicing customers easy and integrate invoicing and payments into the general ledger. Small businesses can customize how they use the platform so that they only use the features they need.

1. It has features required specifically for accounting like income and expense tracking, payroll management, invoicing and inventory management.
2. During tax season, QuickBooks generates reports that make it easy to file your taxes or share the necessary information with your accountant.
3. Snap and save receipts from our mobile app to maximise deductions and stay compliant.
4. If you have a record of bills available, you can track upcoming payments easily to ensure timely payments of bills.

Benefits of accounting software for your small business

QuickBooks Online has four pricing tiers and offers 50% off for the first three months when you purchase. The first tier is the Simple Start Plan at $15 per month for the first three months, then is $30 per month. This plan gives you all the basics needed to run your business accounting, including income and expense monitoring, invoice and payment capability, tax deductions, receipt capture and mileage tracking.

Business

QuickBooks is by far the most popular small business bookkeeping program in the US, whereas Excel is a spreadsheet program that advanced users may use to create their own custom bookkeeping program. While we don’t recommend using Excel as your base bookkeeping program, we do have a guide on how to use Excel for accounting. Our comparison of QuickBooks Online vs Excel will help you better understand the differences between the two programs. By managing all of your cash inflow and outflow activities in QuickBooks, you can print financial statements that provide useful information about how your business is performing. Lenders often require financial statements when you apply for a small business loan or line of credit.

QuickBooks accounting software, developed by Intuit, is designed to help small businesses manage their financial operations efficiently. It provides tools for tracking income and expenses, generating invoices, managing payroll, and preparing taxes. QuickBooks has become the go-to solution for many small business owners due to its ease of use, powerful features, and cloud-based accessibility. Small business accounting software is a tool that helps business owners understand how money flows in and out of their business and allows them to make smarter financial decisions.

Our team of experts are here to support you 24 hours a day, Monday to Friday. Get real time help via live chat where you’ll get an instant reply from our support team. Snap and save receipts from our mobile app to maximise deductions and stay compliant. Intuit reports that 94% of accounting professionals feel QuickBooks Online saves them time and thus saves their clients money. Even for payroll, which has a huge tax liability, taxes are calculated automatically every cycle. Once your QuickBooks is set up, you’ll have access to all of its features, making it easier to manage your finances from day one.