QuickBooks is an easy-to-use, small-business accounting software for professionals familiar with basic accounting concepts and practices. The users can use its online or desktop version (accessible without the internet). Small businesses not familiar with accounting software functionality often find the installation and use of the software complex. They need help with installation, day-to-day use, and the generation of periodic statements. O’Hara & Company offers complete assistance and training with QuickBooks accounting services in New York to get them acquainted with the software. Our certified QuickBooks ProAdvisor’s are well-versed in installing and using this accounting software. They offer assistance at any time for any issue and solve queries immediately.
Benefits of QuickBooks
QuickBooks helps record various business transactions as and when they arise, infer financial results at the end of the period, and track financial standing at a point in time. It automates tasks related to bookkeeping, invoicing, sale tax, inventory, bank reconciliation, and others. Its usage streamlines the whole accounting process for small businesses. Many users presume that the use of QuickBooks saves them time. However, it is possible for users who know how to use the software at its best with multiple functions. Our QuickBooks accounting services in New York help them record different transactions and derive, analyze, and correctly interpret financial data.
Major Functionalities in QuickBooks
QuickBooks makes business more organized and the effects of the transactions more visible, which in turn helps users manage their income, expenses, and cash flows by collecting dues from customers and other debtors, paying utility bills and suppliers, and remitting taxes as per schedule. QuickBooks software categorizes transactions of similar nature under a particular heading, e.g., vendors, customers, employees, Company, and banking, to enter the details quickly and know the position instantly. Following is a brief description of each,
Vendors: Vendor is the first tab displayed on the top left corner of the screen when a user opens it. It automates the account payables. The user can enter the bills and use the pay bill function to make online payments to the given vendor. The detailed information regarding aggregate dues and dues to each vendor allows users to place orders as the condition permits and schedule supplier payments.
Customers: This function allows users to create, raise, and print invoices and forward them to customers. The businesses can track each customer’s aggregate and individual outstanding balance at any point. They can also know the average collection period and overdue invoices. It helps manage the bills and receivables in the business.
Employees: The software maintains close employee details with a timesheet and ensures timely salary to employees. It acts like an automated payroll system.
Company: This function gives the user a chart of accounts that summarizes financial details and helps them stay on top of their finances at every month’s end.
Banking: The user can track all the bank transactions through this function and integrate them with the due payments. The banking function helps users pay a bill with the print check function, credit card swaps, or bank transfers with a few clicks.
The Bottom Line
The developer of QuickBooks, Intuit, promotes this accounting software as ready-to-use. However, its effective and efficient use ultimately depends on the end-user’s knowledge and skills. Our accountants are pros at using this software and help clients learn its application in regular business. The basic accounting knowledge and our QuickBooks accounting services in New York are sufficient for daily bookkeeping and periodic reviews. We also offer a customized package to clients for learning software usage.