Why is QuickBooks best for small business?
QuickBooks software is available in versions for freelancers, small companies, and large corporations. The software is available in both web and desktop versions. QuickBooks Online is less costly than the desktop editions in the beginning.
There are no contracts, and the subscription price includes automatic software updates. It’s also compatible with mobile devices, making it available from anywhere. It’s typically better to start with a lower tier of QuickBooks and then upgrade as required.
We expected a wide range of responses when we asked small business owners what accounting software they use. Instead, QuickBooks was the only accounting software listed in the hundreds of responses we got. Regardless, various entrepreneurs have strong opinions about which QuickBooks edition is the best.
It can be challenging to compare different versions of QuickBooks, mainly if you’ve never used accounting software before. As a result, we dug deep into the specifics of each QuickBooks edition to build this guide.
Top 3 reason why QuickBooks is best for small business
Small businesses that want to be more environmentally conscious while still managing receipts can take advantage of the following QuickBooks features:
- Automatic receipt and invoice generation through the internet
- Accepting debit and credit card payments
- Tests are deposited into the software
Small companies can use the QuickBooks Pro version to generate receipts and invoices instantly with the click of a button. These receipts can then be emailed to clients individually or in groups. This role is ideal for small businesses since they often bill several customers for the same service or product.
Users may often collect credit or debit charges and scan and deposit checks directly into QuickBooks (depending on the type of subscription). This eliminates the need for several paper receipts or the need to enter large volumes of data manually. QuickBooks is user-friendly accounting software that includes the following features:
- Simple to understand language
- A user-friendly guide
- Virtual orientation and many tutorial videos
The lack of jargon in the software means that small business owners with little or minimal accounting experience and accounting professionals will benefit from its features.
Any of these instructional videos can be found here. The informative tutorial videos teach users how to perform basic tasks such as making sales receipts. The majority of small business tasks can be completed with a single click of a button.
These videos are relevant and appealing to small business owners because they are brief and to the point, saving them the time and effort of reading lengthy manuals or troubleshooting.
Flexibility in QuickBooks
An ERP (Enterprise Resource Planning) solution will incorporate all aspects of your company’s operation and provide more power, knowledge, and visibility into your business’s success when your business has outgrown QuickBooks Pro or Premier. You’re looking for accounting solutions that will meet your new needs.
Naturally, an ERP solution would cost more because it is a complete business management system. However, for two reasons, switching to a more efficient accounting system could be less expensive than you think.
- Any accounting software is less expensive than others.
- Using a sophisticated accounting system will help you boost your sales.
More accessible money and inventory management in QuickBooks
- Look at the amounts you have on hand: Your inventory amounts are automatically changed as you buy and sell items, making it simple to see what’s selling and what needs to be reordered.
- Find out how much your inventory is worth right now: When you go about your day, your inventory values are automatically updated in your balance sheet.
- Keep track of sales orders: Keep track of the orders you’ve placed with and vendor. To make reordering easier, gather contact details for several vendors in one location.
Quickly generate financial reports and invoice templates in QuickBooks
- Organize your items using photographs, categories, and prices to help you find what you’re looking for.
- Using first in, first out, measure the cost of each commodity sold automatically (FIFO)
- Make data on the most popular products, overall revenue, and total taxes.
View your current inventory quantities: When you purchase and sell items, your inventory quantities are automatically updated, making it simple to see what’s selling and what needs to be reordered.
Real-time inventory valuation: When you go about your day, your inventory prices are automatically changed in your balance sheet.
Keep track of purchase orders: Keep track of the orders you’ve placed with and vendor. To make reordering easier, gather contact details for several vendors in one location.
In conclusion, QuickBooks Desktop software helps you manage the accounting of a particular organisation. The software is filled with so many extraordinary features that make this software so good. I hope that this blog helps you understand the advantages of the software for small businesses.