Is your bookkeeping a total mess?Do you feel like you need a different way of tracking your business activity? If you need an accurate, consistent, and affordable bookkeeping solution, QuickBooks® is your go-to software. Follow these QuickBooks tips to make your bookkeeping process easier.
Keep your Receipts and Reconcile your Accounts
When tax time rolls around each year, you want to have all your ducks in a row. That means each transaction you put into QuickBooks should be categorized appropriately as well as have corresponding receipts and other support attached. This will make the tax return preparation process much easier on you and your CPA. Be sure you keep even the most seemingly insignificant receipts, too. Those business lunches and random supplies for the office are just as important as your electric bill. You can choose to store all your receipts in one space, like a file folder, or you can use a great QuickBooks feature, Receipt Capture, to digitize receipts. Also, remember to separate personal activity from business.
Utilize Automatic Backups
You can rely on QuickBooks to do automatic backups for you to ensure you are always looking at real-time data. When you connect all your accounts, you can have your expenses and income automatically downloaded.
If you need to understand how your business is performing, run a report in QuickBooks to instantaneously check your performance with Profit & Loss and Balance Sheet reports. Track cash flow, keep track of how well your items are selling, and even how much money you still need to receive..
Send Invoices and Accept Payments
QuickBooks makes it easy to send invoices from your preferred device. You can split amounts into multiple invoices, too, which increases the likelihood you’ll be paid for your work sooner. The best part? Customers can pay straight from the invoice! Money Matters can even connect you to Intuit’s lower-than-advertised processing rates or, if you want to avoid incurring credit card processing fees as much as possible, we can recommend other options.
Is there anything QuickBooks can’t do? Okay, the software might not be able to make you coffee, but it can help you see how much you spend on coffee…and use the money you save taking advantage of wholesale pricing through Money Matters, to treat yourself to that new blend you’ve been thinking about…maybe even your own espresso machine! For any other question you may have, the experts here at Money Matters are available to help.