For the financial data of your business, accounting software is what you need. Right from the basic billing and invoicing up to project management and tax calculations, account software takes care of all. QuickBooks Desktop has become a very popular accounting software that enables you to simplify your accounting work.
The QuickBooks Desktop Premier 2022 is a 1-user license software allowing you to check performances, arrange finances, and in exporting financial info. This article will discuss everything that you need to know about this software:
Features:
Some of the popular features of QuickBooks Desktop Premier 2022 (1 user) are as follows:
Data level permissions: It is a feature that offers restricted access to the users. Therefore, record-level access permissions can be created by the admin for the vendors and customers.
Customer groups: Customer communications can be enhanced with the customer groups based on the fields such as customer balance or status, customer type, and location.
Enhanced Bank feeds: The bank feeds can be imported quicker through batch-editing or consequent categorizing of the transactions of the bank by classes, accounts, and payees. Besides, data integrity can be improved with lower manual entry and improved matching.
Forecasting: QuickBooks Premier comes with powerful forecasting potential and allows the users to make forecasts right from scratch. Also, class, job, or customers can create forecasts.
Wholesale and marketing: Tracking profitability by a product is possible, and the reader points can be tracked as well.
Professional services: Expenses and time can be tracked and besides, and it supports different billing rates.
Retail: Sales, non-taxable sales, taxable sales, and sales tax can be tracked at ease with QuickBooks Desktop Premier 2022.
Reversing journal entry: QuickBooks Premier comes with a reversing journal entry option. It includes over 150 industry-specific reports.
Customized receipts: Payment receipts can be given an expert look. All you need to do is opt for custom arranging and add logos.
Automatic sending of statements: Payments are made faster because the statements are automatically sent to the clients, and also, the statements are customized as per the requirements of the clients.
Advantages:
The array of advantages that QuickBooks Desktop Premier 2022 (1 user) offers are given below:
Managing bills and accounts payable: Everything is available under a single roof. The bills can be tracked, and the orders can be purchased in one place. Fast cash flow can be maintained, and taking action on unpaid bills becomes easy. Also, paid discounts can be taken early automatically. You can view unpaid bills from the vendors and manage the payments.
Tracking sales tax: Easily, you may characterize which items and which clients are taxable. Tax on the sakes can be tracked all through the month. You will know exactly about the things that you owe for running the liability reports for sales tax.
Tracking stock and inventory: If shrinkage, loss, or theft takes place, the inventory can be changed to account. In case the stock proves to be low, goods’ costs and items can be tracked, and you will get notifications as well. The purchase order record can be created to keep track of the order.
Tracking expense and income: The QuickBooks Enhanced Payroll allows you to connect your credit card and bank automatically for downloading and categorizing transactions. With the customers, employees, centers, and vendors, the business can be organized. Also, you are allowed to import the previous finance info from application programs like Excel.
Invoicing: Almost everything can be created, right from the estimates, covering the invoices, up to the payment receipts. Invoices can be generated for the services, goods, and for billable expenses and time. The QuickBooks Payments allows you to accept the payments from invoices and then send reminders automatically on the outstanding payments.
Benefits:
QuickBooks Desktop Premier 2022 (1 user) comes with a plethora of benefits. They are as follows:
General contractor: By making use of the vendor report, jobs can be created. Job costs can be organized by vendors, and you can see which vendors can be paid actually. Change orders can be tracked, and job estimates can be created. This allows you to get the progressions tracked along with their impact on the bottom line. Reports of job costs can be customized in detail to examine the profitability of the job.
Professional services:
QuickBooks Desktop Premier offers you a range of professional services under one roof. All the customers having unbilled costs and time by venture, employee, service, or customer on the same screen can be tracked. Also, receipts can be sent in just a few clicks. By service and client, employee, you may get paid or pay the right amount by setting distinct billing rates. Profit can be analyzed by several reports such as job completion cost, job costs by vendor, and job. This keeps you on the top.
Retail services: The sales result can be tracked by making use of the summary form of sales. You need to enter all of the payments and non-taxable or taxable sales for one week, one day, or whatever period that you want to select. Over the costs and the stocks, you can keep steady. Stock can be easily tracked, and reorder points can be set. The best thing is that you can easily compare the profit of one month against the loss. This helps you to keep up with your profit and loss report.
Assembling/manufacturing or wholesale: Wholesale and manufacturing can be tracked in QuickBooks Desktop Premier. Stock can be tracked, and perfect stock levels can be set. Also, a report can be run that shows things required to be reordered. The greatest money producers can be tracked. This will let you know the items that you need to promote and put in stock and what are the ones that you need to drop from the line. All the open orders can be seen. This lets you focus on these orders the way you require. You can instantly see which orders can be shipped and what cannot be shipped.
General business: The inventory things can be managed. By making use of the QuickBooks inventory center, things can be located quickly, and tasks associated with inventory can be completed all over the board. Make use of the built-in process for doing things right. The balance sheet can be tracked by class, and the report can be accessed independently following financial data by profit center, department, or location. Bill customers can be tracked by material and time, job phase, percentage completion, or whatever turns out to be best for you.
Non-profitable services: Donation statements can be made. You will easily be able to see the biggest donors and then track all their commitments. A functional expenses statement can be made, or you can also make a form 990. This lets you detect the costs and then present them to the board, the IRS, and significant contributors. Each of the donors’ contributions can be tracked based on your situation.
Conclusion:
QuickBooks Desktop Premier 2022 (1 user) proves to be a powerful software. It helps you to organize the finances right from the beginning. However, if you are not familiar with the new features, seek expert assistance, or else you may end up losing your data.
