Every big or small business requires a financial record system to note the expenses and revenue generated in a month. Keeping the record of all the spending will help draw out the plans and make an informed decision about the daily operations.
Intuit QuickBooks is one such accounting system that helps you manage your expenses and keep track of all financial transactions in one place. In this article, we’ll be reviewing the software and will share our honest thoughts about it. So, without further ado, let’s discuss whether this software is worth your money or not.
What is QuickBooks?
Intuit QuickBooks is accounting software for SMBs that lets you make financial entries, keep track of your spending, and manage your financial record all in one place. The company behind QuickBooks, Intuit, came into existence in 1983 with an idea to keep the accounting process easier, simpler, and better.
QuickBooks is one of the world’s most-used cloud-based accounting software, reaching more than 5 million users worldwide. It has become the go-to choice for most small and medium businesses when it comes to managing their accounts and expenses digitally.
The accounting software offers plenty of useful features. These are customizable invoices, inventory management, reporting, and more than 600 integrations built with it. Further, if you want to outsource your bookkeeping-related operations, you can find an online accounting expert in a snap. Through QuickBooks Capital, a dedicated lending platform, you can keep your capital all in one place.
How to use QuickBooks?
Using QuickBooks is extremely easy, thanks to intuitive UI and interface. However, in some places, it isn’t easy to find all options and settings. Overall, it can be used by most laymen users. But how do we use this accounting software? What are the basic steps to get started? Well, let’s discuss that in this section.
When you open the QuickBooks Online software, you get a detailed yet easy to understand overview of your business’ financial status. It shows you interactive charts for expenses, bank accounts, invoices, sales, and profit and loss. From here, you can see almost the financial details of your business and jump to the particular section for more detailed info.
To find more advanced features and shortcuts of QuickBooks Online, click on the ‘gear’ button on the window’s top-right corner. Using the ‘See all activity’ option at the bottom, you can jump to see the complete details of the software’s audit log and history of recent activity.
The QuickBooks Online allows you to import invoice templates from Microsoft Word file. By default, you will get six different invoice templates to make your payments easier. Manage and adjust the logo, font style, size, header, columns, and more as per your choice. Further, you can easily add discounts, shipping charges, and other key details in just a few clicks.
Depending on your plan, you will get different features and usability of the software. In the advanced plan, you get to do batch invoicing, estimates of batch bills, etc. Also, you get the auto-schedule invoice feature aboard the QuickBooks Online accounting software. You can view all these options in six different languages; Portuguese, French, English, Spanish, Chinese, and Italian.
With QuickBooks Online, managing your contact is easier than ever. You can add details to your customers’ and vendors’ contact list. Add a display name, shipping address, preferred payment option, billing address, attachments, and more through the contact management tool. You can also send batch emails to your contacts as and when required. The QuickBooks Online allows you to rename your customers as per your choice, such as donors, guests, members, clients, etc.
As per your subscription plan, you can add or remove items in your inventory. However, it’s only with the Advanced and Plus plans you get to track these inventory items. If you want to add items to your existing inventory, you can save the original sales price, purchase price, images, and add descriptions to these articles.
Track Your Expenses
Expense tracking doesn’t have to be time-consuming. And QuickBooks Online proves this very well. With the software, you get to add separate expenses, turn on the live bank feeds, and manually import bank account statements. Now you can easily categorize these expenses, attach dedicated receipts, or build customized bank rules and regulations using the software. Unlike the previous QuickBooks Online software, the newer version offers a much secure, and faster bank connector for live bank feeds.
QuickBooks Online vs. Desktop
Okay, you got it. QuickBooks can be your one-stop solution for managing your accounts and financial expenses. But should you use the web-based version or the dedicated desktop software? Which one is better? Let’s try to find that in this section:
As compared to the QuickBooks Online, with the desktop version, you only need to pay once for the program. When you use QuickBooks online, you’ll need to pay for the plan monthly. Also, with QuickBooks Online, you get five different plans, Simple Start, Plus, Essentials, Advanced, and Self-Employed. However, with desktop software, you get three different options for plans. These are QuickBooks Desktop Pro 2020, Premier 2020, and Enterprise 2020.
Both QuickBooks Online and QuickBooks desktop offer similar features. However, if you want overall better and faster experience, you can download the software on your laptop and manage your finance without the internet. So, it all boils down to your personal preference.
Best Laptops for QuickBooks
Here’s the list of Best Laptops for Quickbooks 2020:
- Asus Zenbook 13 (Ultra Slim)
- Acer Aspire 5
- Microsoft Surface 2
- Acer Swift 3
- Asus Zenbook 14
- Google PixelBook
- Dell Inspiron 15
If you’re planning to purchase these laptop, you can find reviews of these laptop on LaptopUnderBox.
When looking for a comprehensive accounting software tool, QuickBooks Online stands out from the crowd due to its versatility and useful features. With this useful tool, you can easily manage all your financial tasks; keep track of invoices, customers, sales, and much more on the go. If you haven’t got your business on QuickBooks Online yet, you’re missing out on something crucial- time and money.