How Does QuickBooks Work for Beginners?

A beginner thinks starting a business is easy, but it is difficult for beginners to manage accounting tasks on their own. So they are looking for accounting software that can manage their accounting tasks effectively. Here comes QuickBooks, which can manage all these tasks easily. There are many accounting software in the market, but most businesses prefer QuickBooks as it is the best accounting software version of this generation. QuickBooks provides business-related information so that owners can understand their business. In this article, we’ll guide you on how to does QuickBooks works for beginners and provide the major benefits of QuickBooks.

What is QuickBooks?

QuickBooks is an automated software that can provide a solution for business-related problems. Business owners can use QuickBooks to automate processes such as tax, finance, invoicing, and more. It is useful for businesses working with international clients and suppliers. QuickBboks provide multiple user acces form different locations and keeps data view in real time. It helps compile all the financial data automatically, with no need for manual entry and speed sheet management. QuickBooks Online help for business to manage their accounting, bookkeeping, and financial reports, such as tracking sales, profit, and expenses, handling payroll, overseeing inventory, filing taxes, creating and send invoice, manage account receivable and payable.

Why Beginners Choose QuickBooks for Their Business?  

Sometimes beginners make mistake their accounting tasks and facing in business related issues. If you are purchasing QuickBooks, that fixes all the issues. It manages your accounting tasks and financial reports, calculates sales tax reports, and tracks income or expenses for analysis to provide accurate information to owners. It is helping your business provide time-saving benefits of pursuing sales and automatically creating an invoice at the touch of a button. So, QuickBooks is important for beginners. 

1. Track of Financial Transactions with QuickBooks

You need to know how much money you earn and spend. QuickBooks tracks your financial transactions to help you manage them.

1. Create an Invoice and Manage Billing in QuickBooks

If you want a business product bill sent to the customer, you require an invoice. QuickBooks helps you create an invoice fast. You just change your logo and send it to the customer by email or print it.

1. Handle Payroll with QuickBooks 

Payroll is the act of managing employee payment. It is managed manually, which is very complicated for the business. QuickBooks helps manage payroll. This software tracks work hours, calculates wages and handles tax reports.

1. Generating Financial Reports in QuickBooks 

QuickBooks software makes financial reports. It creates an income and expenses statement, profit and loss balance sheet and cash flow report. You can view these reports know your business health. 

1. Manage Inventory with QuickBooks 

If you need to track your inventory when you sell your business products. QuickBooks helps you manage stock and it shows how much you have, which products sell best, and when to restock. It automatically updates your inventory when your products sell or when you receive new stock.

Types of QuickBooks 

QuickBooks has two types of versions:

• QuickBooks Desktop

QuickBooks Desktop allows multiple-user access, but only on a local network. It comes with extra costs or requires maintenance. 

• QuickBooks Online

QuickBooks Online is the new version of QuickBooks that runs over the internet. It allows multiple user access from different locations. It offers affordable pricing plans for small businesses operating on a limited budget.

How Much Does QuickBooks Cost for Payroll?

QuickBooks provides six QuickBooks Payroll plans. Three plans include payroll software, and the other three plans also include QBO accounting software. QuickBooks Payroll range form 50$ per month for payroll software and 203$ per month for QBO accounting software. Each plan you get full service, but if you choose a larger plan get more features and access to customer support. Your budget and the work you want to put into payroll can help you decide which QBO accounting software payroll plans are best for you. 

Conclusion

This article will guide how to work with QuickBooks**** for beginners. Accounting or bookkeeping tasks and managing financial reports will not be difficult when you choose the right software. Therefore, it is very important to choose the best software for business that will meet all your needs. If you are facing any software problems, you can connect with our QuickBooks ProAdvisor.