QuickBooks Introduction

QuickBooks is an Accounting Information System which assists a business in keeping track of the movement of Assets, Liabilities, and Equity of that business. Every business must have some form of accounting information system to properly function, even if it is done with pencil and paper. Quickbooks has gained a lot of popularity due to its high level of user friendliness. Many small and large businesses have been able to utilize QuickBooks to maximize their efforts and save the maximum amount of financial resources.

Easy to use

o Make sales and record the transaction on an invoice with ease

o Record expenses and attach receipts with ease

o Easily categorize income or expenses properly to avoid unnecessary waste of financial resources or non-compliance fees from local authorities.

Produce financial statements easily

o Transactions are recorded in real time as transactions occur.

o Have access to Prof/Loss, Balance Sheet, and many other vital reports instantly.

o Access the real time financial health of your business anytime you desire.

· Many ways to interface

o With QuickBooks Online Access from your computer or laptop no matter where you are

o For some businesses Quickbooks desktop may be a solution

o Use the mobile phone App to access your account and keep track of and record sales and expenses such as business lunches/meeting or mileage when you are on company time.

Every business must have some form of Accounting Information System in order to operate efficiently and maintain local and federal compliance. Why not use a system that is known for its user friendliness and popularity amongst business owners and accounting professionals.

QuickBooks Introduction

Every business must have some form of accounting system to properly function, even if it is done with pencil and paper. Quickbooks has gained a lot of popularity due to its incredible user friendliness. Many small and large businesses have been able to utilize QuickBooks to maximize their efforts and save the maximum amount of financial resources.

One of the best things about Quickbooks is that it is very easy to use. Many things that are usually difficult and complex have been greatly simplified (sometimes too much so, but that’s for us to worry about). Two of the most common uses that companies will utilize are the Invoice and Expense functions. These two functions will allow your accounts payable/receivable, bill pay, and sales entries to be created in seconds. It is also very easy to upload records such as receipts or any record that is saved on an electronic file. Categorizing each invoice or expense makes creating financial statements a much easier task. As many know, mis-categorizing income or expenses can become costly to fix after documents have been filed.

Creating financial statements can be done with incredible ease. As long as you maintain your sales and expenses in the system, pulling the information into a beautifully designed financial statement is always ready and available. The financial statements that are most commonly used by the leaders of a company include Profit & Loss reports (also known as the Income Statement), the Balance Sheet, Aging Accounts Receivable and many others. These are already programmed and ready for the user to pull and analyze. Custom reports can also be created to show desired data sets such as weekly sales reports and many other areas that demand attention. The same reports can be made for cash and accrual accounting basis simultaneously. Many of these reports are displayed on the dashboard in pie chart or column form and they are always in real time if the company has the online version.

There are many ways that users may interface with the Quickbooks accounting system. This can be done on the go and in the office. For some users, Quickbooks desktop offers increased functionality, but the online version is preferred by most business owners. The online version gives its users real time updates as they occur, while the desktop version does not. Usually the right fit depends on the size and complexity of the business, as well as its particular accounting needs.

There are also many exterior applications that integrate with the QuickBooks Online system to increase its capability and automatically sync data from multiple sources. Here at Sonder Accounting, we often integrate QBO with T-sheets, Gusto, Square, Webgility, & Fathom. Each of these applications has its own set of useful features that are often essential to a business’ successful operations.

Every business must have some form of Accounting Information System in order to operate efficiently and maintain local and federal compliance. Why not use a system that is known for its user friendliness and popularity amongst business owners and accounting professionals. Here at Sonder Accounting, we are Certified QuickBooks ProAdvisors trained to help you get the most out of your experience. We customize every element of your QuickBooks setup along the lines of your industry, operations, and profit strategy. Reach out to us if you need help getting your accounting in order.