And why QuickBooks is your best choice
If you’re not using accounting software for your small business, you’re not alone. It’s estimated that roughly half of the small businesses in the U.S. don’t.
You may be using a combination of paper and Excel. Maybe a simple invoice program and Word. Or maybe you’re calculating everything manually and sending invoices, purchase orders and other documents through the U.S. Mail.
There are many reasons why small businesses haven’t moved their financial operations to accounting software. They may think that it’s:
- Too expensive
- Too difficult to use, or
- Prone to errors.
None of that is true of QuickBooks. In fact, once you’ve made the additional investment in the product and taken some QuickBooks classes, you’ll find that the software:
Saves time. There are numerous ways that QuickBooks does this. Because all of your financial information is stored in neatly-organized electronic records and files, you don’t have to waste time hunting for a check or bill or invoice. Data entry is faster and more efficient. All calculations are done for you automatically. And you’ll be able to create reports by just clicking a few buttons.
Saves money. You might be able to re-capture the cost of the software by just avoiding one tax penalty. Accurate QuickBooks transactions and reports translate into more accurate income tax and sales tax fillings. Conscientious, orderly record-keeping might even result in you finding more deductions to claim. A smooth-running accounts receivable process, along with the use of electronic invoicing and payments, can improve your cash flow.
Not only can you dispatch invoices electronically in QuickBooks, but your customers can pay them online, too.
Minimizes duplicate data entry. Once you enter a piece of information that will be used over and over, you never have to enter it again. QuickBooks stores every bit of data that comes from you, so you will be able to either select from a list or start typing and watch the name, item, etc. automatically fill in.
Reduces errors. How many times have you forgotten to include everything on an invoice? Pay a bill? Order needed inventory items? Are mistakes made when you have to copy information from one form to another? And when you make a mistake on a manually-produced invoice and have to redo it, how much time does that waste? QuickBooks helps you avoid these and many other errors.
Makes your data-sharing with tax agencies, banks and other financial institutions, your accountant, etc. easier and more accurate. If you’re doing your bookkeeping manually, you probably absolutely detest having to prepare reports, tax returns — any forms or documents that require digging through drawers and file folders and over-stuffed shelves to find all of the data you need. QuickBooks has it all, and it’s easy to find what you need and assemble it in a professional manner.
You can easily create and customize reports like this one using QuickBooks.
There are other benefits. You’ll learn more about the accounting process, supplemented by QuickBooks training courses. Your office will be neater. You’ll have less paper floating around. You’ll probably work fewer hours on your accounting, and your customers will be impressed with your efficiency and your professionally-produced paperwork. Using QuickBooks will be a win for you in many ways.