QuickBooks are for small and medium-sized accounting businesses which help them to maintain basic accounting transactions. It offers on-premises as well as cloud-based accounting application system which records business payments, pay bills, and payroll systems. If you are a beginner, here are a few tips on how to use QuickBooks.
1. Backup your Files Regularly
QuickBooks deals with your financial files, reports, and customer information. It is of utmost importance that you always save your work like you would do for any other application such as Word Documents. Backing up your files regularly will help you retain crucial data in case you delete or lose your files due to some reason.
2. Customize Navigational Panel
One of the most difficult tasks of learning a new software is to get used to some regular functions. QuickBooks includes a navigational panel which can be customized as per your liking. Ensure that you set this up early so that you do not have to keep looking for certain function repeatedly.
3. Use QuickBooks Memorized Transactions
QuickBooks’ memorized transactions is a great tool. Entering any bill, cheque payment, invoice or a journal entry that is occurring regularly can be a time-consuming task. Your transactions can be auto-recorded by QuickBooks’ memorized transactions. Memorized transactions help you to handle your cash flow better as it will record the transaction details which are going to occur in the future. Also, this feature prevents you from missing out on any payment or collection.
4. Print Checks and Pay Bills
Printing checks from QuickBooks will increase efficiency by reducing unnecessary data entry. It also helps make your monthly reconciliations smoother.
Efficient management of entering and paying bills is made possible with QuickBooks. When making a payment, either use online bill payment linked to QuickBooks or print your checks.
5. Set Up Invoices For Online Payment
Online payment options can be set up to allow your clients to pay online via ACH bank transfer or PayPal. You will be charged a small fee but it’s worth considering the amount of time you will save in making the payments.
6. Use QuickBooks Find Feature
This feature can come in very handy when you need to find a transaction that you need to check again or need more information. With the help of the find feature, you can search inside QuickBooks itself and quickly get your desired information.
QuickBooks is a great way to help your business in recording accounting transactions. It makes your life easier. However, if you want to know how to use QuickBooks extensively, it is recommended that you consult a professional firm that will provide training for QuickBooks.