When it comes to financial business management software, Intuit is a highly regarded name in the industry. QuickBooks Online is an accounting solution especially designed for small businesses and home business entrepreneurs. It’s simple system and user-friendly interface makes it an ideal tool even for entrepreneurs who do not have a background in business accounting.
When you open your QuickBooks Online account, you will be guided accordingly with a series of questions about your company and the system will configure itself to match the specific needs of your business. Ready-to-use modules can be selected and arranged according to your preference.
The QuickBooks Online Plus application is organized into five main categories: Company, Customer, Vendor, Employees, Banking, and Reports. Each section contains information and tools needed for that particular area of business. For instance, you can find information about your company along with the main user account and preferences under the Company section.
The Customer section obviously contains all the features you need in managing sales such as invoices, receipts, refunds, etc. Business owners who want to accept credit card payments can easily do so through the Customer section. However, you must first register with Intuit Merchant Account Servicesin order to use the credit card processing features. (Read How to Get Started with credit card processing.)
In the Vendor category, an entrepreneur can keep track of all business-to-business transactions. Here is where you can manage a list of your suppliers, payment due dates, etc. You may choose to send your payment to a vendor straight from this tab simply by providing your bank account information.
The Employees category can prove to be very useful for business owners who hire workers. Here is where you can monitor employee information, time sheets, and payroll. This section can be integrated with Intuit Online Payroll (at a cost of $19.95 per month) for easy payroll management.
The Banking category can be integrated with QuickBooks Online Banking Center so you can manage all your banking activities (for participating banks) quickly and conveniently online. Last but not least, you can manage your financial reports and accounting documents under the Reports section.
Do you use Quickbooks Online? Would you recommend it? Please feel free to share your views by leaving a comment.
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About the Author:
Melanie James has spent the last 14 years working with businesses to implement quick, effective and inexpensive changes to their businesses to increase productivity and their bottom line.