Are you looking for an online accounting software for your business?
But not sure which one will be the best choice for you. Right?
Well, being confused while choosing the best accounting software is obvious. There are thousands of accounting software available in the market. Checking out the features, pros and cons of each and every tool is time consuming.
That is why we are here to help. We are going to introduce the best accounting software 2020 for you. That is none other than Quickbooks.
Here, we are going to discuss Quickbooks in detail. It is the most amazing accounting software we have ever used.
So, let’s jump into it.
What is Quickbooks?
Quickbooks is designed for small and medium-sized businesses. It is a cloud-based accounting tool that will help you to make payments, receive payments, bills, payroll, and so on.
There are more than seven million customers worldwide who are using Quickbooks. Besides, Quickbooks has mobile apps for android and iOS. It will help you to access your business accounts no matter where you are.
Why should you choose Quickbooks?
Hiring an accountant in the United States might cost you around $79,000 USD per year. Whereas using an accounting software like Quickbooks is cheaper. You can manage your business accounts alone with Quickbooks without any prior knowledge.
Quickbooks has come up with numerous features. As we have said earlier that this tool has been specially designed for small and medium-sized businesses, and all of its features are designed based on that.
It is not possible to discuss all of its features because it might make the content boring. However, we will discuss the main features that will help you to think about this accounting software.
- Inventory Management
If you are selling products you need to have proper knowledge about your inventory. In most of the large businesses, they hire someone to take care of it.
However, you don’t need to do it. Quickbooks has its own inventory tracking tool that will help you to track your sales, purchase, and payments which is related to your goods, raw materials, and finished products.
Moreover, Quickbooks track your inventory in real-time. That means you will be aware when you need to reorder your products.
It also generates a report which will help you to look through the inventory at a glance.
- Manage Bills
While doing business you need to pay bills, and receive payments. It is a daily task. If you pay after the due date you might need to spend a late fee. It is a waste of money. Right?
From now on, no more late fees. Quickbooks will keep the records of your payment due dates and notify you when you need to pay.
Besides, Quickbooks keeps records of all your received and paid bills. After signing up to Quickbooks, you need to connect your bank account or PayPal with it. As soon as you are done, it will start to keep the transaction records and generate a report for you.
This amazing tool is also known as the ultimate bill organizer.
- Track your Expenses
The reason why most businesses fail because they don’t know how to cut off their expenses. If they do but it is not possible all the time. Most of the businesses use spreadsheets to manage their accounts.
As a human being we make mistakes. That causes increasing our costs. While using quickbooks, it will track down your expenses. It has a default tool that will help you to do that.
As your bank account is associated with it, so it will track down all of your expenses and income. It will help you to monitor the financial condition of your business.
- Job Cost
As a business owner, you need to be aware of your labor cost, material cost, and other project costing. When you start your business it is not possible to hire people for every task.
Quickbooks will also help you to calculate your job costing as well. When you start using this accounting tool, you will see a clean dashboard where you can see all of your projects, costs, etc. in detail.
It will help you to keep a bird’s eye view on your business.
- Generate accounting reports
If you want to grow your business, you should have a clear view on the financial condition of your business. You can generate reports on cash flow, profit and loss statements, etc. on Quickbooks online.
It generates reports in real-time. So, you will get to know what is going on in your business.
Besides, as a startup or as a small business, it is obvious that you need to look for investors or bank loans. The reports that Quickbooks generates are so professional that you don’t need any designers to design a financial report for your business.
Pros and Cons
There is nothing on this beautiful planet which does not have disadvantages. Quickbooks has some cons too. But they are definitely fewer than the advantages of Quickbooks online.
- User-friendly and Professional interface
- Saves a lot of time
- Cost efficient
- Can integrate third-party apps
- Cannot add larger files
As we have said it earlier, Quickbooks online is a lot cheaper than hiring an accountant for your business. Quickbooks Online has different pricing plans for the United States residents and the global residents.
As a global citizen you can choose between three pricing plans that start from $7.50/month to $15.50/month.
Investing on Quickbooks online would be a great idea. Yes, we know that you might be thinking that there are hundreds, even thousands of online accounting tools available and why we are recommending this to you.
Well, we just want to use the best accounting software for your business that will make your work easier, save time, and obviously cost efficient.
If you use Quickbooks online, you will get an all-in-one package at the cost of $186/year. Whereas you need to pay $79,0000 USD/year if you hire an accountant. So, you can see how much money you are saving.
As a businessperson, you need to be smarter. Think like a smart person. If you are still not sure, you can try a one-month free trial of Quickbooks. If you love it, you can use it for your business.
It is a cloud-based accounting tool. That means you can access it no matter wherever you are.
So, why are you waiting? Try it for your business now.