One of the most cringe-worthy parts of running a small business in the service industry is the accounting; and that’s why this article will focus on how to get the most out of QuickBooks Online for the service industry.
Here are six essential tips for using QuickBooks Online:
1. Make Customizations
One of the best features of QuickBooks Online is the ability to customize it to fit your needs. Get started by using the software in the Chrome browser, then make changes to the browser to suit your preferences. Some examples include setting up bookmarks or creating unique users.
You can then move on to customizing your reports by deleting or adding columns and deleting rows that include zeroes. Then save these customizations using the custom reports feature so that you don’t have to waste your time in the future. You can also make your data entry go faster by optimizing your services and products list. Make sure your list isn’t either too small or too big. While this level of customization takes some time up front, it will save a lot of time later on.
2. Learn How To Use The App
Another fantastic feature of QuickBooks Online is the ability to access your information via an IOS or Android app. You can get the most out of this feature by taking the time to learn how to use it. Some of the note-worthy features on the app include the ability to take photos of receipts that can be downloaded instead of entered manually, electronically accepting customer signatures on invoices and estimates, and accessing real-time reports and your books at anytime regardless of your location.
3. Use The Intuit Payment System
The third way to get the most out of QuickBooks Online for the service industry is to activate the Intuit payment system. This is a free tool that will automatically sync with QuickBooks. It will even allow you to receive payments automatically through the set up of recurring Sales Receipts. The cost is 2.5 percent plus an additional 25 cents for each transaction. The Intuit Payment system accepts Discover, MasterCard and Visa. It is also ideal because of the lack of commitment and zero set up fees.
4. Become Even More Efficient By Using Other Apps
You can streamline your workflow by taking advantage of the hundreds of apps available in the Android and Apple app stores. You will even find an app tab within QuickBooks Online that will suggest which apps are best suited for your specific industry and client base. For instance, the Jobber app will schedule appointments, which makes it ideal for HVAC and landscaping companies.
5. Keep Communicating
As with anything else, the more you communicate the more smoothly things tend to go. If everyone who has access to QuickBooks in your company (including your accountant) knows the status of files, there will be fewer errors.
6. Work Smarter Rather Than Harder
Cut down on your work time by taking full advantage of the shortcuts available in the QuickBooks Online system. For instance, instead of scrolling through to find the right date, click on the “T” to be moved automatically to the current date. You can then click on the plus and minus signs to move back or forward a day.
This concludes this article on how to get the most out of QuickBooks Online for the service industry. If you need more tips and tricks or have additional questions please talk to your accountant.