Accounting Services Online

Accounting Services Online

Accounting Services Online

Posted on: January 25, 2012 - 8:11 pm
by Admin

Small businesses wishing to do their own accounting can easily implement Quickbooks for their double-entry accounting needs. While it is advisable to have an accounting on staff or have an outsourced accountant to periodically review numbers, having this software allows small businesses the opportunity to minimize this expense in the startup phase. Using accounting software allows businesses to organize all of its finances in one place, saving both time and money in the long run. Specifically with Quickbooks Pro 2010, it allows users to:

  • Manage customer, vendor and employee data.
  • Print checks, pay bills and track expenses.
  • View snapshots of the business with advanced reports.
  • Go paperless with online banking.
  • Allow up to 3 users to work in Quickbooks at the same time.
  • Keep track of receivables.
  • Download bank and credit card transactions directly into Quickbooks.
  • Track inventory, set reorder points and create purchase orders.
  • Easily locate any account, report or invoice by keyword searches.
  • Manage your bills.
  • Track sales, sales taxes and customer payments.
  • Manage payroll and payroll taxes.
  • Send invoices and estimates.
  • Accept credit and debit cards right into the software.
  • Track time, mileage and expenses to bill clients.

Why Use Quickbooks for Small Business Accounting

Not only is keeping track of all income and expenses helpful for when it comes time to pay taxes, but by entering all this information into a program such as Quickbooks, business owners can see how its company stands in a variety of areas. For instance, with a click of a button, the business can see its current assets and liabilities, cost of goods sold, current inventory, view all transactions per vendor or client and if they have any outstanding bills that must be paid.

Quickbooks is very simple to set up and maintain. After installation, the business owner must go through an advanced wizard that will set up the software depending on the type of business and its specific needs, as well as takes the owner step-by-step on adding its bank account information and product or service details.