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QuickBooks Online features and reviews of 2020

QuickBooks Online accounting software is a small business tool for managing expenses, organizing books, sending invoices, and tracking inventory for companies.

Overview

Businesses and brands use QuickBooks to organize their finances in a single platform. This software provides accounting solutions for small businesses that may not be able to hire an in-house accountant. QuickBooks simplifies financial management for startups, independent accounting firms, freelance bookkeepers, and more. It reduces the time spent on manual accounting tasks so that users can focus on other pressing business responsibilities of the user.

QuickBooks provides real-time finance monitoring and generates custom reports based on the user’s preferred data visualization settings. The feature allows the user to gain crucial insights into their business’s expenditures, sales performance, and other vital financial data. The software collects data automatically to make sure every business’s financial information is updated immediately.

Users can manage their data while out of the office with both desktop and mobile devices. The software’s auto-syncing options eliminate inconsistencies in reports and financial records, making sure every member of the team gets up-to-date information with each campaign. And since QuickBooks is web-based, business managers aren’t confined to their office space while using the tool. They can manage their operations and data whenever the need arises.

QuickBooks helps accountants and sales teams to back up their data online for record-keeping purposes. It allows them to export the data into spreadsheets when necessary.  The software also works with both native and third-party applications – integrating everything into one platform.

Product Details

QuickBooks Online accounting software helps businesses control their labor costs by tracking their revenues and expenses. The tool helps users discover the projects that are making money for their companies, and the ones that are not. Accountants use QuickBooks Online to figure out if their income exceeds their expenditure. The software provides profitability insights with automatic updates that allow users to see the trends in profits and make smart business decisions.

QuickBooks Online accounting software uses real-time updates and reports to track a company’s inventory. Salespeople use this tool to monitor every product they buy and sell. QuickBooks automatically updates the product quantities while they work to prevent unexpected shortages. The platform notifies users whenever they are low on stocks so that they can reorder more goods and services. The accounting software works with other online sales apps like Amazon, Shopify, and Etsy to improve the user’s business prospects and gain instant insights.

QuickBooks Online accounting software manages and organizes bills for organizations and businesses. Finance officers and accountants use the tool to track their credits and pay bills on time. QuickBooks displays each user’s due dates and allows them to set up recurring bills to avoid paying late fees. The platform also records direct deposits and payments made. Once companies connect their bank accounts to QuickBooks, the software automatically imports every single transaction they have made. Accountants can pay bills online and schedule purchase orders.

QuickBooks Online accounting software helps users track their business expenses on one platform. The tool runs reports and categorizes expenses to see how every single dollar is spent on a project or campaign. QuickBooks helps companies and firms avoid missing tax deductions. Once every expenditure is placed into different categories, the software stores them all in one place. It provides users with the data they need to predict and manage their business’ cash flow.

QuickBooks Online accounting software manages payments to independent contractors. Businesses can monitor every transaction they make to contractors. QuickBooks prepares 1099 tax forms and makes them available whenever the accountants need it.

QuickBooks Online accounting software uses GPS tracking to detect mileage. Organizations use this software to get tax deductions while making deliveries or driving to corporate events. It categorizes trips as either business or personal to pile up potential tax deductions. QuickBooks allows users to view the breakdown of the miles and how much they save in the process. They can also share the reports when the need arises.

QuickBooks Online accounting software helps companies track thousands of tax laws automatically. Once accountants add sales tax to an invoice, QuickBooks handles the calculations based on product type, date, location, and customer. The software helps users apply the correct rate to every one of their transactions.  The software allows finance officers to view their sales tax information and stay updated on their incomes and expenditures.

QuickBooks Online accounting software helps users to write and send professional invoices to their customers. Businesses can customize QuickBooks’ invoice templates and tailor them to suit a particular client’s needs. The software also sets up recurring invoices for regular customers to reduce the need for creating new ones each time. Users can also add billable hours to each invoice with Google Calendar or TSheets. QuickBooks also provides instant notifications for every payment made.

QuickBooks Online accounting software helps businesses gain additional tax savings. Professionals use QuickBooks to stay up-to-date on their sales tax. The software provides reports that break down both taxable and non-taxable sales for the users.

QuickBooks Online accounting software helps companies create professional estimates to make the right impression on their clients. These customized estimates help users to reflect their values on their business. They also use the platform to turn accepted estimates into invoices.

QuickBooks Online accounting software helps users run business reports lets them to know their standing. Managers and finance officers monitor business performance and cash flow with QuickBooks’ reporting tools. The software tracks current trends and helps users make informed decisions that help with loan approvals. These reports allow businesses to keep tabs on customer balances, open invoices, and due amounts.

QuickBooks Online accounting software allows managers and CEOs to run their businesses from their mobile devices. The software’s mobile app enables users to gain instant access to all their data. They can send reports or invoices, record expenses, or make business transactions from anywhere in the world. QuickBooks backs up users’ data and stores them in the cloud.

Recap

QuickBooks Online accounting software combines all the essential accounting and management tools in a single platform. Businesses use the tool to track their finances and improve sales performance and profits.