QuickBooks Online (QBO) is one of, if not the, most popular accounting software packages available. Unfortunately, it is being underutilized by many companies. Improved efficiency and accuracy of accounting comes from knowing its features well and thoroughly navigating the necessary setup functions.
Here is just a sample of the many accounting tools available:
- For users with payroll, QBO now gives customers the flexibility to pay employees by direct deposit with one-day processing. Users can submit a payroll request the day before payday instead of having to prepare and submit 3 to 4 days in advance.
- The new “Pay Now” feature allows customers to pay by credit card, Apple Pay or free bank transfer right in their online invoices. The easier you make it for customers to pay, the more likely they will pay on time. Additionally, you receive instant alerts when customers view and pay invoices. The funds go directly to your bank. Payments and invoices are automatically matched – and you have more time to focus on your business.
- With the auto-calculated sales tax feature now available, you can be confident that the right sales tax is correctly calculated and added to your invoices. Location, product and customer details are all considered in the calculation. Users can also e-file and pay those sales taxes through QuickBooks.
The new components are certainly valuable, but the software must be accurately setup on the front end to take advantage of all it has to offer. The training Price CPAs has and our experience with many clients who use QBO allows us to provide professional guidance on initial setup to maximize value. Furthermore, we know how to get the right reports and interpret the results so management level choices and decisions are grounded in real data.
QBO is an excellent resource with much to offer small businesses as they address their accounting needs. Price CPAs has hundreds of hours of experience with QuickBooks (and other accounting software) and can help you be confident that your business is running as efficiently as possible. To schedule a conversation, contact us through our website (www.pricecpas.com) or at (615) 385-0686.