Top 5 Advantages of Using Quickbooks Online Pro Advisor

In the business world, the most complicated task is handled by the financial experts – the accountants. Intuit is a United States company that develops and sells financial, accounting and tax preparation software and related services for small to medium-sized businesses. Initially, they released Quicken and it was successful. However, professionals were not satisfied due to poor security controls, no audit trail, and no double-entry functions.

In bridging the gap, the company developed Quickbooks – the better version with more accounting features and options. Quickbooks is an accounting software which can make business accounting easy by providing windows that will be used to record common business transactions. Later, they developed a cloud-based service called Quickbooks Online (QBO), which can provide some business forms such as checks and invoices. It also accepts electronic payment of bills, business payments, online banking and payroll functions. They also introduced Quickbooks Point of Sale is a software that tracks business inventories, sales, customer information and will manage and provide reports and real-time data.

This software was purposely made to provide the skeleton of your business – Vendors, Customers, Employees, Company and Banking. These are vital to company’s existence. They developed the idea of incorporating (Vendors, Customers, Employees, Company and Banking) in the system itself and represents functional buttons. This is to utilize every aspect and will help organize your cash flow statements, balance sheets and profits and losses.

Why Quickbooks?

Quickbooks is an ideal software that offers advantages, as follows:

• Ease of Use. Historically, Quickbooks is one of the easiest software programs to use. The whole just enter-transaction information into windows that resembles the usually-used-form, making data entry a breeze. It also has internal control mechanisms which make your financial data more secure, but they also make accounting software more complicated to use.
• Time Saver. Business transactions will produce many documents, through this bookkeeping and paper works will be handled easily and automatically. In recording, filling up blanks shown on screen with information such as the name of the client, invoice amount, and date. It saves time compared to a traditional system that piles up a lot of papers and receipts on your desk.

• Report Generation. When workers or accountants religiously update business transactions, the software will provide real-time business information. You can collect information needed to prepare the reports that summarize your profits or losses and your financial situation.

• Affordability. Quickbooks is so affordable that business owners can save money. It can be used to run a $5M to $25M business for a few hundred bucks. Pretty inexpensive with excellent accounting software solution and is truly a great investment. QBO is a monthly subscription service which users can pay a monthly subscription fee rather than an upfront fee.

• Transmitting data. Sending your personal business file across the internet is safe with Quickbooks Online as it employs the same methods that banking companies use online. It has high-level encryption that protects the data and ensures that unauthorized persons will not be able to access it. You can even share the data with Microsoft Excel, Word, and Outlook.

• Data Storage. Two copies of business data are stored and updated each day automatically. It is stored on servers that ensure data retrieval in case hardware crashes or computer is infected with the virus. This will give business owners peace of mind when it comes to their files. Quickbooks is a stable, reliable and proven product.

• Organized in one place. The program was designed for individuals with no prior accounting experience could successfully navigate. It provides tutorials as well as guidelines for quick and easy learning.

• Keep track of invoices and expenses. Users can keep better records and create invoices that can accept debit or credit cards. It notifies the user if payments are made. The software can record bills, purchases or expenses that are necessary. It can produce expense reports along with profit and loss reporting as well.

If you plan to start a business, Quickbooks is a powerful and useful tool that simplifies and streamlines the process of managing finances. For years it has been proven and tested by thousands of business owners that cater businesses of different types and sizes. Finally, Quickbooks is an excellent assistant to business owners in making more knowledgeable business decisions.