Some of the prime areas where QuickBooks help it users include:
To precisely enter your customer, vendor and item details, QuickBooks help you to create details reports. Also, you can customize the report to separate out the details by any particular customer, vendor, item, and transaction date. The report also displays previous due payments and other essential information and details. Users can mark a report as favorite in the report list, resulting easy access in the future. In this regard, the profit and loss report are considered the most commonly used report by business owners.
Managing Contacts & Inventory
To manage your contacts and inventory, QuickBooks provide different platforms including the Customer, Vendor, Inventory, etc. The platforms like Customer and Vendor Centers are for maintaining lists of transactions that are cognate to a customer or vendor. On the other hand, Inventory platform offers easy and efficient management of users inventory items (like products that you sale & keep ) and non-inventory items (like services). In all the platforms, users have options to sort transactions by customer, vendor or item type.
Payroll is one of the important functionality of QuickBooks as it help manage paychecks, pay liabilities and set annual limits on appropriate payments. Payroll is also useful when it comes to managing employees’ compensation, tax-exempt, tax forms and much more. Users also have an option to send direct deposit and email receipts of payments to the interests. It also allows business owners to add extra allowances, tips and other details about employees.
Billing and Invoices statements
Billing and Invoices are two major statements offered by QuickBooks accounting software. Billing statements comes into existence when you to charge customer and make invoice. On the other hand, invoice statements comes into power to list the items purchased and paid for in an individual transaction. Also, invoice statements don’t compile over the period of time.