What makes QuickBooks so great? Why should I choose QuickBooks over the other accounting software? These are just a couple of questions business owners ask when they are searching for the most fitting accounting software.
Undoubtedly, if you’ve been looking for answers to those questions, you’ve seen a lot of varying information about the pros and cons of every accounting software on the market. You’ll also notice the majority of professionals (the accountants and bookkeepers) still recommend the software.
Here are a few reasons why industry professionals who have been keeping books for decades think QuickBooks would be the best choice for your company.
1. It’s customizable, and someone else already took the time to customize it for you.
QuickBooks is customizable to fit your companies needs. But you don’t have to reinvent the wheel because someone else already did. And they made the wheel shaped and sized to fit your industry. For industry-specific accounting needs—those needs specific to industries such as retailer, nonprofit organization, contractor work, and healthcare services—the makers of the software have already anticipated your needs.
The great thing about QuickBooks being so widely used is that other professionals in your industry took the time to work with the software to set up the perfect accounting system. This means you won’t have to spend so much time in the setup process.
But these predesigned systems aren’t limiting. Knowing that two businesses in the same industry won’t be identical, QuickBooks still allows for customization within the industry-specific accounting packages.
2. You can link your accounts and bill-pay.
One of the handiest features of QuickBooks is its online capabilities. Tracking income and expenses is easier than ever when you can link your bank account and credit card accounts with a few clicks. You can pay your bills and vendors with the check writing feature which then pays the bill with your coordinating bank account. Set up your bank feed and reconcile your bank accounts each month without a headache.
3. QuickBooks comes with an online payment portal too.
You can accept credit card payments easily online, and you won’t have to worry about importing the information related to the payment because it will already be there. How does that work?
It starts with the invoice, which you can create in the software.
4. Invoice customers directly from QuickBooks.
QuickBooks Merchant Account Service doesn’t require additional software. And your customers can pay via MasterCard, Visa or American Express. No more waiting for customers to send payments.
How does it work? You email invoices and statements to customers directly from QuickBooks with the feature for them to pay online. They click and pay. Very simple.
5. Easily keep track of where you are in meeting financial goals.
You can see how your company is doing by generating reports. Each report is customizable to view the specific information you want to see. QuickBooks has a great memorization tool which allows QuickBooks to remember the transactions and reports you want to see again and again.
And last but not least…
6. QuickBooks is the way to go because it’s what accountants and CPAs prefer.
QuickBooks is the most preferred financial software by accountants and CPAs for small to mid-sized companies. Aside from all the reasons I have already listed, the biggest reason for this preference is that financial records are organized and prepared for easier tax preparation. Easier tax preparation means less headache and more accurate records.
Your taxes are only as accurate as the numbers from which your accountant can work. And what better way is there to keep track of those numbers than a software as reliable as QuickBooks?
While QuickBooks and every other software program compatible to it sells themselves on being easy to use, if you are not familiar with basic accounting and banking practices, some learning will be required. QuickBooks has support staff, training courses, and online webinars available for everyone to access. However, most business owners don’t have the luxury of learning how to use new computer programs. They need to be focused on the core business tasks and consider trusting reputable bookkeepers with their daily recordkeeping needs.
It is important for business owners to understand the appealing components of QuickBooks, and to understand that it’s equally important to hire a professional to utilize these appealing features.
Again, your recordkeeping is the foundation to tax preparation and submission. Your taxes will only be as accurate as your records. So work with a professional bookkeeper to track your information. It will save you time and money in the long run.