Keeping accurate financial records is essential for all small businesses no matter what industry you operate in. Disorganized or inaccurate financial records will not only make you unattractive to potential investors and lenders, but it can also make it difficult for you to file your taxes, and could lead to IRS tax penalties. Using QuickBooks will help you get organized. In fact, we believe QuickBooks is a must for all small businesses, and here’s why:
- QuickBooks Is User Friendly
Many small business owners shy away from using an accounting program out of worry that it will be difficult to use. QuickBooks has a very user-friendly design and can be used comfortably by even those business owners with little to no financial or accounting background.
- Easy Integration
It is also easy to integrate your QuickBooks program with other programs. For example, you can easily export your QuickBooks data into a tax preparation software program to make filing your taxes less complicated. It is also easy to integrate Microsoft Excel and QuickBooks, which makes it simple to import data from Excel into your QuickBooks program.
- Pull Reports
Another of the reasons why QuickBooks is a must for all small businesses is that QuickBooks allows any authorized user to pull up-to-date financial reports to help you make better business decisions. At any time you can look at your cash flow, general ledger, balance sheet, profit and loss statement and more. This information is essential in order to run your business effectively.
QuickBooks also makes it simple to personalize your QuickBooks user experience. You can do everything from customizing your reports to creating custom invoices, charts, spreadsheets and business plans. You cannot only insert your company’s logo, but you can also add detailed information about each line item on your invoices.
- Pay Bills
QuickBooks makes it easy for you to pay your bills electronically and for you to receive payment from your clients electronically. This will not only cut down on paperwork, but will also make it easier for you and your clients to reconcile your invoices and receive payment in a timely fashion.
- Check Signing
The final reason why QuickBooks is a must for all small businesses is that QuickBooks makes it easy for you to sign and issue checks. QuickBooks will allow you to scan and upload your signature to use on your prepared checks. You can also input information and print checks directly from within your QuickBooks software system.