Accounting Advice

Quickbooks Online: Our Five Favorite Features

At Accountfully, we help business owners implement the tools they need to successfully grow their business. We empower them to leverage smart software solutions that will give them the power to control and monitor their own finances in real-time—a crucial part of business ownership.

While there are many accounting solutions out there, not all are created equally. Our latest look into the Accountfully toolbox highlights one of our favorite accounting software solutions: QuickBooks Online.  Here is your rundown on the software's key benefits and five of our favorite features.

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But First, A Reminder of the Harsh Reality of Entrepreneurship

QuickBooks Online is incredibly powerful, versatile, and easy to use, which is why we recommend it to many of our clients.  It is also a great first step into "official" business management for growing companies.

The reality is that small business owners are mostly driven by managing the daily challenges in front of them. They are more involved in the meeting they’re scheduling next week, landing that new client, and ensuring that the day-to-day is working. When money is coming in and bills are getting paid, everyone ends the day happy.  All too often, proactive business planning gets brushed aside as business leaders go a bit too long coasting on entrepreneurial vibes, full calendars and good moods rather than taking a practical approach to financial health and growth. This is where smart tools like Quickbooks Online come in to bridge the gap between good vibes and smart planning.

So what's so great about this App, and how does it help so many clients?  We won't keep you waiting.

1.  QuickBooks Online Is Cloud-Based: One of the most common requests we get from business owners is that they want real-time access to their most current financials. As business owners, you should have updated financials and all-the-time access to your information. QuickBooks Online is a cloud-based solution that gives you maximum access to your financials whether you’re at your desk or at a client’s office.

2.  QuickBooks Online Has An Open API Feature: Business owner appreciate efficiencies that them focus on their business rather than their books. QuickBooks Online lets third-party applications synch data between systems. This simplifies the data entry and cuts down the amount of work your accountants are doing—something that ultimately saves you money.

3.  QuickBooks Online Gets You Paid Faster: Business owners understand the importance of managing cash flow and getting paid on time. With QuickBooks Online, gone are the days of lost checks in the mail. Quickbooks Online has the ability to receive payments from customers via bank transfer, ACH or credit cards. This process expedites the payment process helps both the customer and the business owner.

4.  QuickBooks Online Is Mobile-Friendly: Today’s business owner needs to be able to run their business away from their desk. QuickBooks Online has a robust mobile app that has all the functionality needed to keep your financials up to date and accept payments on the go.  

5.  QuickBooks Online Simplifies Taxes: What business owner doesn’t want to simplify their tax season? Whether you’re just starting out or you’ve been in business for 12 years, QuickBooks Online streamlines the tax process by integrating with Turbo Tax. This allows the auto-importation of financial data into a tax return. Talk about a time saver!

Final Thoughts and Takeaways

With the constant expansion and updates to software features to adapt across changing business needs, these make up for a very high level list of why Quickbooks such a great tool for your business.  At the end of the day, tools that are accessed from anywhere, sync across other apps, and provide a launch pad for the non-accountant business owner to manage, grow, and adapt with, are the ones to get behind.

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If you would rather let Accountfully take the lead on implementing the right tools for your business, that works great too.  Outsourcing your company's accounting comes with some pretty sweet perks.  Outside of the obvious (more time for you to run your biz, up to date books, etc.), we bring our time tested systems and tools that will help maximize your efficiency, boost productivity and streamline operations.  To get started on a plan that works best for you, start by telling us a bit about your business.  We will chat through how Accountfully can help, and customize a plan best for you.

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