QuickBooks is a software developed for business practices that are financially related. This includes, but is not limited to, tracking expenses, preparations of invoices, entering sales receipts, preparation of financial statements, inventory supervision, and handing out purchase orders. Getting QuickBooks to take care of your finances places you in a better situation, business-wise.
QuickBooks does your calculating according to the criteria you give. It can also apply charges to customer accounts. Here is how to you can use it help you with your finances:
- It is important to study the fundamental Accounting requisites when starting to record your finances. Your general ledger (Chart of Accounts in QuickBooks) is the basic strength of your accounting system. To access this on QuickBooks, click on the “Lists” tab from the main menu. If your business uses account numbers in addition to names, use Company Preferences by selecting “Preferences” from the “Edit” tab located on the main menu. Select “Accounting” which is listed on the left-hand side of the window. Check on the “Use account Numbers” box from the “Company Preferences” tab and click “Ok.”
- Information about Customers and jobs are stored in the “Customer Center” located on the main menu. It is capable of holding as much data as you can supply regarding records of your customers. It also provides a fool-proof system for entering data concerning credit cards, encrypting account numbers, and gives you the authority to choose who is allowed to access this area. To use this feature, select “Company” located on the main menu and click on “Customer Credit Card Protection.” To warn you in case anyone tries to gain access to classified customer data, select “Reports” found on the main menu, “Accountant and Taxes”>”Customer Credit Card Audit Trial.” The “Reports” area holds a great number of integral information that is vital facets of your business, whatever it may be.
- Also located on the main menu is the “Vendor Center” which basically gives comprehensive information with regards to vendors, and saves you valuable time especially when taking care of your taxes and writing out checks. You could also sort out data for each vendor and check out important items including payment terms, payments methods, balances, and the like.
Using QuickBooks in handling your business can be very valuable in keeping track of whether or not it is doing well. Comparing it to other accounting software, it is much easier to understand and you do not have to be an accounting expert to know how it works. All you need to do is click on options to enter your financial information. Its “Easy Interview” feature changes the options according to the information you put in. Additionally, QuickBooks can be used when doing your taxes, which can be a very wearisome task for most people. You may also consult an accountant to advice you on how to make full use of QuickBooks should you encounter any difficulty in understanding how it works.
QuickBooks is an easy solution in organizing all your finances with the least amount of effort on your part. Having your own business is not easy, but with helpful software like QuickBooks, you can expect less pressure from your side.