How QuickBooks helps you run your business smoothly?
Author : Bank Loan Depot | Published On : 27 Apr 2021
Creating and tracking invoices
You can easily make invoices and either email or print them to your clients with Qb online. QuickBooks automatically records the income as well as tracks how much your clients owe you. You will be able to run an accounts receivable aging report and view your outstanding invoice amount, known as A/R (accounts receivable), and the period they are overdue.
Bills and expenses
QuickBooks automatically connects your bank account and credit card accounts to download as well as categorize all of your expenses, keeping track of your bills and expenses. If you want to manually track cash or check transactions, you can directly record it in QuickBooks within a few minutes.
When you receive your bills, you can enter them into QuickBooks so that you can easily track your upcoming payments or accounts payable. You can create an Accounts Payable report to make sure that you pay the bills on time. With this report, you get the details of your recent as well as past-due bills.
Printing financial statements
QuickBooks helps you manage your cash inflow and outflow activities. You can even print the financial statements that will provide important information about how your company is performing. Lenders often ask for financial statements if you apply for a line of credit or small business loan. The financial statements you can produce in QuickBooks with just a few clicks including balance sheet report, profit, and loss report, and statement of cash flows.
Employee hours and payroll
You don't want to skimp on payroll by doing it manually. Errors in paycheck calculations can lead to steep penalties as well as an unhappy workforce. QuickBooks comes with its payroll function that is responsible for calculating and running payroll automatically as often as you need.
QuickBooks is also capable of tracking employee hours. The tracked hours then flow to both the invoices of your customers and your payroll. It assures that each hour you pay your workforce is reviewed regarding billing to your customers. To know more about Qbo login, conduct thorough online research.
QuickBooks payroll allows you to pay your staff with direct deposit or a check. You will be able to calculate state and federal payroll taxes. You can also electronically pay your payroll taxes from QuickBooks. You need to purchase a QuickBooks payroll subscription to run your payroll, and you can choose from several levels of service to fit your specific requirements.
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