Question

Benefits of QuickBooks Now that you have just about completed the course what overall benefits do you see QuickBooks can provide to a business. What types/sizes of businesses will benefit from using QuickBooks? Explain as if you were presenting to a business owner encouraging them to purchase and use QuickBooks. Explain in depth

Answer 1

Benefits of QuickBooks Now that you have just about completed the course what overall benefits do you see QuickBooks can provide to a business. What types/sizes of businesses will benefit from using QuickBooks? Explain as if you were presenting to a business owner encouraging them to purchase and use QuickBooks. Explain in depth

Benefits of QuickBooks

Money Management

QuickBooks Pro comes with features designed to assist small businesses in managing their money. One aspect of the program allows users to enter the due dates and payment information for all recurring bills. As bills are due, users may print checks directly from QuickBooks. In addition, each transaction is recorded for easy access during future audits. QuickBooks Pro users can also link their bank accounts to the program. In addition to affording them the convenience of viewing all financial records on a single screen, this feature also gives them the benefit of eliminating the need for paper bank statements.

Expense Billing

When conducting business, professionals often rack up a variety of expenses that are later billed to clients. These may be small purchases, such as mileage and meals, or large expenditures, such as extended international travel. Regardless of the size or type of expense, QuickBooks Pro maintains a feature that allows users to record each one. In addition, expenses may be saved according to client or job, giving users the benefit of not having to reconcile them manually.

Sales Invoicing

QuickBooks Pro provides the timesaving benefit of tracking sales and automatically creating receipts and invoices at the touch of a button. Invoices can then be electronically sent to customers via email. The program also allows customers to be billed individually or in large batches. The latter function may come in particular handy when billing multiple clients for the same service. Users that subscribe to Intuit QuickBooks Merchant Services have the added benefit of being able to accept credit and debit card charges through QuickBooks Pro. In addition, users that subscribe to Intuit Check Solution for QuickBooks gain the ability to scan and deposit checks into the program, eliminating the need to manually enter the data.

Reporting

Users of QuickBooks Pro are able to create a variety of financial reports. These include year-over-year income, expense, trends and forecasting documents. Furthermore, each report can be exported into Microsoft Excel spreadsheet format and sent electronically via email.

User Friendly

The makers of QuickBooks Pro designed the software to be user friendly. A new user setup feature provides users with a virtual orientation process. In addition, most of the program’s features can be activated at the click of a button.

types/sizes of businesses will benefit

QuickBooks is the small business accounting software of choice today. So, in itself that ought to tell you something about why you should use QuickBooks Over the years I've worked with or installed many different accounting software products in use by our clients. These software products have ranged from low end to mid-range software costing many thousands of dollars. During this time, I have witnessed the evolution and expansion of the QuickBooks suite of products. In my professional opinion, I consider the following key factors to be the most significant reasons for choosing QuickBooks if you have a small business:

1. QuickBooks is extremely adaptable to most small businesses. All documents and reports can be customized to the business needs. Reports can be readily exported to other applications.

Encourage use of quick book

While Intuit still supports the Desktop version of QuickBooks, they are actively encouraging users to make the switch to their cloud-based online accounting software called QuickBooks Online (QBO). Indeed, QBO offers many selling features for its users, the most notable of which is the ability to access accounting data in real-time from any device. This allows business owners to automate workflows and make more informed decisions to drive growth.

At the same time, the software isn’t without its limitations. And Intuit knows it. That’s why they are continually rolling out QBO upgrades to better meet the changing demands of today’s business landscape. Many of these features have been long awaited by business owners who wish to further streamline their small business accounting needs without the hassle of installing third-party applications.

1. Security. Online payments are sent through a secure Internet connection and SSL encryption technology plus the use of a PIN is required for all transactions.
2. Streamlined Routines. Accounts payable processes can be automated with the scheduling of automatic or recurring payments.
3. Convenient Access. Bills are accessible from anywhere an internet connection is available. This means you can pay bills in real-time even if you are out of town at a business conference.
4. Cost Savings. With QuickBooks Bill Pay, you will no longer need to rely on snail mail to send paper check payments or incur hefty fees to wire funds. You can pay your invoices a lot sooner and take advantage of vendor early payment discounts.
5. Financial Management. Overall, this tool helps you to reduce manual error and provides you with more control over your cash flow.