Why I love QuickBooks Online!
As an accounting professional, I know my numbers and I get pleasure from being super organized, but not everyone is this way. We each have our own area of expertise and tasks that bring us pleasure and tasks that make us cringe. For many small business owners and freelancers, they cringe at the thought of maintaining accounting records and doing bookkeeping. For some of my clients, accounting records once consisted of a shoe box full of receipts or frantic printing of bank statements come April. My dear friends, you are not alone many people are doing the same thing, but if you only knew there was an EASY solution.
QuickBooks Online and QuickBooks Self-Employed, make it so simple for you to manage your accounting and bookkeeping needs. You can do it yourself, but as your business grows I would recommend getting advice or outsourcing your accounting functions to a trusted CPA, see my article Outsourcing Accounting Benefits.
Personally, I love how accessible and easy QuickBooks Online is. For those that know me, know I am constantly on the go, so the ability to send invoices, categorize expenses or record my billable time and miles while waiting in line for my morning coffee or at the grocery store is life changing. I love that I don’t need to be sitting in front of my computer to complete my business accounting functions. Plus, I am a Mac user, so this is a win-win for me.
If you are a small business owner or freelancer, always on the go and prefer to be able to work seamlessly between multiple devices (laptop, smartphone, tablet) in real time, then QuickBooks Online accounting software may be the perfect solution for your business.
Is QuickBooks Online the right software for my small business?
We recommend QuickBooks Online for clients who are the following:
-Always on the go
-Run a service-based business
-Are comfortable working online, all you need is a computer and internet connection.
-Zero maintenance software
-Need a product that will grow with them
What are the benefits?
Financial Benefits
-Expedite invoice collections through the online payments by credit card and ACH electronic payments (one of my personal favorites…who doesn’t love getting paid faster)
-Identify potential tax savings
-Free mobile apps to tailor to your unique business needs
-Free cloud storage
-Free and automatic upgrades
-Free and automatic data-encrypted backups
-Free QuickBooks Online support
-Additional users - QuickBooks Online lets users sign up as many as five users as opposed to only one user on QuickBooks Desktop
Operational Benefits
-Hands-free data entry – QuickBooks Online automatically downloads and categorizes bank and credit card transactions
-Less paper work – attach photos of receipts to transactions with the mobile app while on the go
-Automatically export year-end financial records to TurboTax or a tax file for your Tax Accountant
-Automatically schedule and send invoices and statements
-Automatically send re-occurring reports
-Track inventory first-in-first-out (FIFO)
-Mileage tracking for year-end tax purposes
-Light inventory capabilities and expenses tracked by job
-Full or partial payroll service functions
Software Benefits
-Share your books with your accountant - Your accountant can access your books remotely to answer questions, fix problems, and do anything needed (okay this is one of my favorites too)
-On-demand access in real time – take your QuickBooks with you wherever you go
-Access on PC, Mac, smartphone or tablet – Finally, something Mac and PC people can agree on
-Set limited access with employees
-Tailor your subscription and adjust to scale with changing business demands
The Bottom Line
It’s never too late to get your business finances organized, with only 3 months left in the calendar year, it’s time! I promise this will reduce your stress come tax time and potentially find you tax savings.
These are just some of the many benefits of using QuickBooks Online, if you need more information schedule a consultation with a QuickBooks Certified ProAdvisor in your area. We have QuickBooks Certified ProAdvisor’s available at One Mode Consulting just go to the contact page for your free consultation.
QuickBooks Online is a robust accounting solution, however if your business requires extensive inventory tracking capabilities, integration with QuickBooks Point of Sale products, QuickBooks Bill Pay function and progress invoicing or the ability to receive partial PO’s then QuickBooks Desktop might be the right solution for your business. Each business is unique so please be sure to consult a QuickBooks Certified ProAdvisor’s.
