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Efficiency Starts with QuickBooks

December 3, 2013

A small business will start out on a pocketful of dreams which gradually become a reality. The business owner has every right to be very proud of success as sales come in and profit margins become more stable. However, with success comes challenges and bookkeeping is one of them. The owner can no longer keep the figures in his or her head or in notebooks. Records have to be kept for tax purposes and other business needs. It is at this point where accounting software can help and the best on the market is QuickBooks.

Created For the Small Business

Intuit expressly developed QuickBooks Pro for the smaller establishments. The intent was to create accounting software which was both highly efficient and easy to understand. This software has uses that can be put to work almost immediately after it has been downloaded to the company PC:

  • Documentation Made Easy.

The software will produce documents such as invoices and reports with the templates that are part of the software. These templates can also be modified to fit business needs. The software will populate accounting data onto the templates for standard format documentation;

  • Better administration of Payroll and taxes

QuickBooks Pro will help a business better manage payroll, allowing for direct deposits and the calculation of payroll taxes. Sales taxes can also be tracked more efficiently with the use of this software;

  • Income and Expenses

This is where the true value of QuickBooks comes into play. QuickBooks can be integrated with point-of-sale (POS) transactions and include sales tax. It can be done at the moment of transaction so that the data is captured by QuickBooks software. The expenditures can also be automated and tracked. Additionally, QuickBooks has the means to track inventory and also manage payroll. The software has everything necessary to run an efficient accounting process as if there was a separate department.

Growing with the Business

QuickBooks helps a small business position itself in a competitive market by creating accounting efficiencies. Reports are both timely and accurate, and the connection with POS assures that transactions are recorded immediately with less human error than before. Greater efficiency leads to success and more profits. For a business owner wishing to expand, the concern may be that the accounting software may not be able to take on added business.
Intuit has anticipated this and QuickBooks Premier is a logical upgrade for small business beginning to expand. This version of QuickBooks has all the features of QuickBooks Pro, but can also generate email sales orders and generate forecasts of sales expenses. The Premier version can also generate industry-specific reports and help with inventory by creating inventory assemblies and bills of material.
The QuickBooks Enterprise Solutions is available for a company that has gone from small to middle size. What is distinctly unique about Enterprise Solutions is that it is cloud-based, and allows protected access to all QuickBooks data the business already has accumulated. Enterprise Solutions also allows expanding small company to handle larger numbers of transactions, operate in more than one location, and be able to track data that is unique to the business. Multiple locations can include warehouses and Enterprise Solutions is able to track inventory in the separate locations. Best of all, it is QuickBooks Pro and Premier can both be upgraded to Enterprise Solutions.

Innovations to Come

The competition is always out there and Intuit is making improvements to its QuickBooks products. Improvements are featured on the 2014 version of QuickBooks products include:

  • The recommended memory alert to be displayed when the available system memory is less than 2 GB;


  • Improved performance opening the Bank Feeds Center;


  • For emails, a statement sent via email can be stored in a Sent Email History tab;


  • In the Enterprise Advance Pricing area, amounts on transactions will reflect new prices set in the Quantity Discounts window. Price Rules will now calculate on estimates.

These are just a few of the changes being made to make QuickBooks that much easier to work with.
The product line for QuickBooks has always had the small business owner in mind, and improvements combined with add-ons will allow an entrepreneur to grow the business while still using QuickBooks technology. Historical data that was stored in QuickBooks can easily be transferred to more sophisticated versions, and the report capability simply gets better as a person advances from QuickBooks Pro to QuickBooks Premier and finally to Enterprise Solutions. This all means that efficiency can be maintained and improved all within one product line of software, which is constantly being improved to better fit business needs.




2015-06-01 05:40:53

Well, Thanks for your valuable response. Yeah, these ideas are really very important to have from business point of view.

Prince Walsh

2015-05-29 10:33:35

Thanks for enlightening my knowledge. This article is really excellent as I found lots of new info from it. Businessmen and entrepreneurs must have possessed these ideas. Glad to go through your article and gather some valuable info from it. Keep sharing more articles.


2015-04-08 05:55:06

Thanks Nick for your feedback. Yes, Book-keeping is a vital function whenever we talk about any business and the accounts need to be well maintained also.

Nick Johnson

2015-04-07 07:09:34

Before starting a new business, several things need to be considered and Book-keeping is one of them. Just growing with the business is not enough, it’s essential to keep good track record of the accounts. Here QuickBooks is very good software to maintain the books easily. Thanks for providing a detailed description of QuickBooks software; it would be definitely useful for entrepreneurs.


2015-02-28 09:49:09

Well said. Quickbooks software is very important for bookkeeping and a good bookkeeper knows how to handle the financial transaction of a company as well increase company’s fame and position.

Kevin Robert

2015-02-27 11:40:10

Bookkeeping is the glue that keeps a track of business transactions considering successful business. If a company’s records aren't in good shape, their business could fall apart. A healthy business is monitored through its records on a regular basis so you can find problems and correct them before it’s too late. Remember: If you cannot measure it, you cannot manage it. Each and every thing cannot be recorded directly on main or final accounts/balance sheet so one should have bookkeeping software to record daily transaction rather than maintaining journal in record book.


2015-01-15 14:26:19

Thanks Evelyn for posting a good reply. It is really important for business to check whether the accounts department is going well or not. Because, the most important part for the growth of a business is its account section. It has to be error free for a successful business transaction.

Evelyn Dixon

2015-01-14 07:29:25

First thing for a business owner to understand the profit margin and that of course he will get from the balanced book of accounts. If the books of account not maintained properly then surely he/she will face problems by resolving the account’s profit and loss. That’s why maintaining a proper book of account is very necessary to understand the matter of profit from money in and money out strategy in business. It’s totally your responsibility to maintain the business account through quick book that will help you to resolve your problem in future.


2014-12-11 07:52:07

Thanks for your feedback Dorothy. I appreciate your visit. Do visit again.


2014-12-11 07:30:35

Yes Geogie, it is important to make proper accounting for a stable business. Good and error free accounts always help to keep a good understanding regarding the business transaction. Thanks for your response.

Geogie Prior

2014-12-11 07:28:46

Well, in my view, for all entrepreneurs, it is important to maximize the profit with the proper maintenance of account books in concern department. Whether it’s a small enterprise or big, it is necessary to handle the accounts in a proper way with technically efficient accounting software, so that it will be error free and won’t affect the business or profit in long run.

Dorothy Arzner

2014-11-20 12:20:50

According to me the user interface of QuickBooks is very simple, clean and professional. If every institution gets this software then it will be easy for them to handle the accounts with better control over unexpected expenses and losses. For these functions it will work fine and affordable to all kinds of small scale businesses.

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