QuickBooks gives SMBs (small and medium-sized businesses – https://quickbooks.intuit.com/medium-sized-business/) the ability to use a centralized application to manage their business finances. In addition to consolidating financial information to one main area, QuickBooks offers several other advantages. Continue reading to learn about five ways that SMBs can use QuickBooks to manage their business finances.
#1: Ditch the dreaded spreadsheets
Many SMBs are on budgets when it comes to implementing new technology, so they learned to make do with what they have. As a result, many of these types of organizations use multiple spreadsheets to manage their financial data.
This can be a very manual, time-consuming process. Spreadsheets do not have a natural system of checks and balances, making it easy for SMBs to miss transposed numbers and other financial errors.
QuickBooks helps SMBs transition their financial processes easily by putting information spread across multiple spreadsheets into one place.
#2: Prepare for tax time on the go
One of the most stressful times for SMBs is tax time. It can be a pain to go through all the receipts, expenses, and deduction information for the business. Businesses using QuickBooks Online can enjoy the benefits of using the QuickBooks mobile app, making it easy for them to prepare for tax time.
The QuickBooks mobile app allows bookkeepers to save and track tax information day-to-day instead of wasting time sifting through records. The app allows them to take photos of important receipts and store them in the cloud. Additionally, they can track other important info, like mileage, which helps maximize their deductions.
#3: Connect to bank accounts
SMBs can save massive amounts of time by connecting QuickBooks to their bank accounts. This allows them to quickly and easily organize the money going in and out of their business.
SMBs can also take account connectivity a step further by using Salesforce. Using an integration partner gives them extra features and tools that enable these applications to be in sync. Breadwinner for QuickBooks, for example, allows businesses to create QuickBooks invoices from within Salesforce.
#4: Address and product sync between QuickBooks and Salesforce
When SMBs use both QuickBooks and Salesforce, it can be challenging to match address and product information between both systems. However, Salesforce AppExchange integration apps allow SMBs using these products to have the best of both worlds.
One of their key features is the ability to sync address and product information across both products. Additionally, this integration solution works with QuickBooks Desktop, QuickBooks Enterprise, and QuickBooks Online.
#5: Secure back-up and restore
Working with financial data using cloud-based systems can be a low cost, reliable solution for SMBs. QuickBooks offers cloud-based solutions that give them the ability to back up their financial data online. This secure storage solution also allows them to restore important data whenever they need to.