Despite the popularity of the program, there are still businesses that have resisted using QuickBooks. In most cases, the resistance to the program steam from concern about the amount of time and money it will take to train the accounting firm to use the QuickBooks program. Instead of worrying about the amount of turmoil the accounting department will experience when converting to the new program, business managers should focus on how companies solve their biggest problems with QuickBooks.
Small businesses, in particular, will find the program especially beneficial in the following ways:
Immediate Bill Paying
One of the biggest programs small businesses often deal with is a delay in bill paying. Even the smallest delays can make vendors nervous, and the more frequent delays, the greater the odds become that the vendor will stop supplying the small business or they’ll increase the amount they charge for their services. QuickBooks can be used to handle invoices immediately. These invoices can than be submitted via email or the postal service.
In addition to making sure the business pays their bills right away, the accounting firm will also be able to use QuickBooks to track what bills have been paid and how long it takes for clients to balance their accounts. Many small businesses have benefited greatly from a feather that was added to the QuickBooks program back in 2011, which makes it possible for them to quickly set up a repetitive bill for monthly payments that never change; such as insurance, rent and Internet.
Quickly and Easily Track All Expenses
Keeping track of what money is coming in and what money is going out can often be difficult for small businesses which have limited resources. QuickBooks makes this easier. Once the program has been set up, it is easy to see all debits and credits and make sure that everything is perfectly balanced. Having an accurate accounting of financial records at all times makes it easy to catch bookkeeping mistakes. It also decreases the odds of the small business taking financial risks that it is not equipped to absorb in the scenario that things go wrong.
Not only do small business managers and owners like the fact that they have an accurate accounting from their financial status in real time, but they also benefit from the fact that QuickBooks reports are easy to understand. The program is designed with multiple report options so business managers can quickly create the type of reports they need to track expenses and money received.
In addition to text reports, QuickBooks also provides clear graphs.
Set the Program to Automatic
One of the features that makes QuickBooks truly unique is that it can be set up to handle the businesses finances automatically. Not only does this reduce the workload for the accounting department, and most likely makes it possible for the size of the department to be decreases, but it also eliminates human error.
Automate Processes & Lower Your Workload
Are any of your financial processes being handled in Excel now? Or are they being handled by pen and paper? If so, you can probably incorporate that process into QuickBooks and save a ton of time. Since all the information is entered into the program, handling preparing for taxes and applying for loans is considerably less stressful than it was prior to QuickBooks.