You may know QuickBooks as a cloud-based accounting software. To be fair QuickBooks has an online and desktop version. The software has gained immense popularity among small business owners, bookkeepers and accountants. We’re going to go over 11 of the top benefits of using QuickBooks as a small business owner or accountant.
Accessible Anywhere! (If You Have QuickBooks Online)
QuickBooks Online is cloud-based, which means that you can access your financial data from anywhere and at any time. Whether you are at the office, on the go or at home, you can log in to your QuickBooks account and access your financial data.
This not only applies for the client but also the accountant. A client can keep up to date on their books from anywhere in real time and accountants can work remotely on the data from anywhere. QuickBooks desktop is a whole different story and isn’t as flexible when it comes to accessibility.
Beginner Friendly for Business Owners
QuickBooks Online is designed to be user-friendly and easy to navigate. Even if you have little or no accounting experience, you can quickly learn how to use QuickBooks Online.
For a sole proprietor, it’s easy to learn the software, track income and expenses. As a business grows, you can continue to expand with QuickBooks functionalities or hire an accountant. QuickBooks is very intuitive for accountants who likely have a better accounting background than small business owners.
Customizable For Your Small Business
Another beautiful thing about QuickBooks Online is the way it allows you to customize your account to meet your specific business needs. You can choose from a variety of templates, add your logo, and create customized invoices, sales receipts, and estimates.
Imagine sending a professional-looking invoice with your company details, all just by a few clicks of a button.
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Automation that is Time-Saving
One feature accountants love in QuickBooks is the automation. With QuickBooks Online, you can automate time-consuming accounting tasks such as data entry, bank reconciliation, and bill payments. This allows you to focus on growing your business and serving your customers.
If you set up good automation then transactions become a review process and less time-consuming. It is one of the key features that allow small business owners to manage their finances.
Collaboration With Quickbooks Data (Data in the Cloud)
QuickBooks Online allows multiple users to access the same financial data simultaneously. This makes it easy to collaborate with your CPA or bookkeeper. You can also share financial reports with other members of your team.
The beauty of QuickBooks Online is being able to access it from any computer or any mobile device. You can access your data on the go and so can your accountant. If you have been a user of QuickBooks desktop or any desktop accounting software, the time to switch is now. Move to the cloud and you’ll be thanking yourself you did.
As a new entrepreneur or small business owner, take our advice and start on the cloud with QuickBooks Online.
Integration With Apps for All Purposes
Don’t feel like QuickBooks Online is reaching it’s full potential? Extend it with endless apps that specialize in areas like expenses, time management, inventory and analysis. Adding on a timesheet add-on can help you directly pull in employee time tracking.
You could use Expensify to have employees directly scan in photos of business receipts. While most self-employed QuickBooks Online users won’t need to add in a bunch of apps, having them there for extended capabilities adds some peace of mind.
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Excellent Security for Your Financial Data
With QuickBooks Online you can sleep easy knowing your financial data is in good hands. The company uses state-of-the-art security measures to protect your financial data.
One of the things you don’t often think about when paying your monthly subscription is that your data is encrypted and backed up daily, ensuring that your information is safe and secure. It’s often something you don’t even think about until a data breach hits the news. Thankfully, QuickBooks has a team that works on giving the best security to your data within their platform.
Cost-Effective and Affordable
Online bookkeeping software doesn’t come much cheaper than QuickBooks Online. With different levels such as simple start, essentials and plus, you’ll never overpay for more than you need.
The low monthly fees are an affordable alternative to traditional accounting software. Just compare it to other options like Freshbooks and Xero. You’ll see that a benefit of using QuickBooks Online is how affordable it is. Pay annually and you can save even more than paying monthly! That’s what we recommend to new QuickBooks users. Plus, you usually won’t switch too often once you get your books into an accounting software and one that your accountant supports.
It is just one of the many reasons that QuickBooks online is one of the most popular bookkeeping choices; affordability and it is supported by so many accountants!
Mobile App for Quick Check-Ins
Maybe you were spending too much time on Youtube, Instagram and Facebook on your phone. Now you’ll be checking your business to see if you made more sales. Tap the QuickBooks mobile app on your iPhone and you can manage your finances on the go. You can create and send invoices, track expenses, and view financial reports from your smartphone or tablet.
It doesn’t matter if you are sitting in an Uber, laying in bed or at your office, working on your books, has never been easier or more within reach. Send out that invoice and get paid!
Super Fast Customer Support
QuickBooks customer support is always just one click or phone call away. QuickBooks offers live chat, phone support, and an extensive knowledge base.
If you are a business owner or accountant with questions, QuickBooks has you covered. You all probably know the feeling of not being able to reach human or real support. With QuickBooks, you don’t need to worry about that. As long as it’s during their business hours, you can get ahold of someone. We’ve personally used their live chat and spoken to them on the phone multiple times. The wait times weren’t bad and we always received the help we needed.
Scalability Made Easy (Different Subscription Levels)
We touched a little bit on it but it is worth highlighting. Since QuickBooks Online is scalable, you won’t need to pay for a plan bigger than you need. QuickBooks Online can scale as your business goes.
You can add on more users and upgrade your plan as needed. Whether you are just starting out or managing a very large team, QuickBooks Online can accommodate your business. While simple start may be good for first-time entrepreneurs, QuickBooks Plus has everything you need for a large business.
What Are the Benefits of Using QuickBooks Online? Final Thoughts
We’ve covered 11 of the benefits of using QuickBooks Online but there is actually a lot more. We recommend getting hands-on with the software. Try out QuickBooks, payroll and all of their options. You won’t be disappointed with Intuit’s suite of products for soloprenuers, small businesses and even large businesses.
