As technology continues to improve, the new normal is not just working remotely, it’s also an improvement in the way we work.
Among many of the advantages technology has provided for small businesses, companies have started to use or already have converted to QuickBooks Online as it has provided small business owners with an efficient and convenient remote access option for their bookkeeping, record keeping and reporting.
Although QuickBooks Desktop has been a long-time favorite among traditional QuickBooks programs, there’s always an underlying fear about losing your data. QuickBooks Online has demonstrated that it is easy to use and has all of the timesaving automation features that Desktop provides.
One of the features many QBO users find useful is the mobile app which also helps monitor data remotely. Another feature that is attractive to small business owners at year end is QuickBooks 1099 feature. This helps generate transaction reports that ultimately will help the tax accountants produce the 1099 IRS forms for the eligible vendors. In addition, QuickBooks Online not only helps reduce the time entering the data manually, but it also helps custom build reports and offers the option of memorizing reports for future use.
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Ten timesaving features offered by QuickBooks Online include:
- It helps customize and sort the reports by the vendor, customer, period, compare with previous periods by percentage change and dollar change.
- It offers weekly, monthly, quarterly, and annual reports.
- It offers electronic invoicing, which helps small businesses get paid more quickly. Emails can be used to send invoices directly to customers.
- There is a feature that also helps to create recurring tasks and invoices based on a pre-determined
- It has auto-data backup, so the data is not lost and easily accessible in the Intuit cloud.
- The bank feeds features helps to directly connect with banks and download the transactions. This feature helps to save time for transactions that are usually entered manually.
- It also offers a large selection of bridge programs that can connect to QuickBooks easily, such as Bill.com which sync directly with QuickBooks Online updating transactions.
- It can processes payroll as well as payroll reports.
- It has the advantage of managing large inventories and calculating job costing.
- Budgets and cash projections can be entered and managed per fiscal year.
From automation, to user-friendliness, to shared data access, to no need for backups, QuickBooks Online can fulfill the majority of most small business’ remote accounting software needs. QuickBooks Online’s affordable cost and remote access makes it a very capable software solution for small businesses.
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