Major Features of QuickBooks That You Must Know

QuickBooks is an accounting software for Microsoft Windows and MacOS. This software is mostly used with small and medium businesses. In most instances it is used in payments of bills and manages sales and expenses in a business. As usual every software has several features that some you may not be aware of.

Hence, this is no different with QuickBooks. With its accounting and technical support it has several features that even some business people don’t know. So, what are these features? Don’t be anxious because I am going to tell you the features of QuickBooks that you should know.

The following are some of the major features of QuickBooks you must know.

• Income & Expenses

This QuickBooks feature enables you to keep records of your business expenditures in an orderly manner. Using this feature, you can link your accounts such as your bank accounts, PayPal, credit cards, or other financial accounts. This will enable you to automatically import your transactions.

If you use this feature you don’t have to keep your receipts for future auditing. However, by taking photos of the receipts you can save them when you will require any auditing. In addition, you can manage your finances easily and even know if your business is performing well or poorly.

• Manage Bills

Do you want to say goodbye to missed bills payment? Then you need to use QuickBooks. It has a feature that helps you to manage your bills. You don’t need to personally pay your bills but only organize your bills and pay them online with no stress.

Furthermore, you will be able to record your bills and print checks from anyplace. Also, you can pay several bills at the same time. So, do you need to manage your bills then you need to get QuickBooks.

• Invoicing & Accepting Payment

Many of you are tired of delayed payments or accepting payments. So, what can you do to prevent this from recurring every moment? I think you need to get QuickBooks. In addition, QuickBooks can be integrated with applications such as Shopify, Etsy, and Amazon with Amazon QuickBooks integration. This feature will help you to create and send smart invoices and get paid more faster than usual for free. Once you receive payments you don’t need to manually transfer them to your bank account.

However, by use of automated clearing house, you can transfer your money to your bank for free. Similarly, you can accept payments made through credit cards.

• Multiple Users

No one like working alone. This is because it is boring and you always get tired faster. Nonetheless, using this QuickBooks feature you can work together with a number of people by assigning everyone different roles and authorizations. In addition, you can enable your employees to access your account for time tracking. This will allow you to know how many hours you are supposed to pay them.

• Manage Contactors

Do you get confused when it comes to paying your contractors? Maybe you do. Then what can you do to solve this challenge? Using this powerful QuickBooks feature you are able to track and manage payments you make to contractors annually. So, before making any payments to your contactor(s), you will need to take the 1099/W-2 quiz to know if you know the agreement rules of paying your contactors.

• Run Reports

Every business must know if his or her business is making a profit or a loss. So, what can you do to know this? You need to have a monthly report which, will help you to run your business effectively. In addition, you need keep tabs on your invoices and customer balances.

This feature is also helpful in helping you budget for your goals. You can create a way of how you will spend and keep your business on the right path. Furthermore, you can plan for the future of your business using this feature.

• Estimates

By the use of this feature you can create estimates and invoices. Also, you can capture your customer’s signature using your mobile. You can convert your estimates to invoices without skipping any. Using this estimates you can create a personalized estimate that shows your business brand.

• Tax Deductions

This feature enables you to put your money in your wallet. When using this feature, you will be able to free yourself from tax stress. Apart from tax management you can organize your finances in a smart manner.

• Inventory

Running out of stock is stressful for any business person. Using this feature, you are able to sort and track goods in your business with ease. Once, your stock is low you are alerted due to automatic updates while working. In addition, you can pre-order items from vendors every time you seem low on a certain product.

Conclusion

If you need to success in your business you need to use QuickBooks for financial management of your business.