Improving Workplace Efficiency with QuickBooks Software

Business 26Soon after Scott Cook and Tom Proulx established software company, Intuit, in 1983, they introduced a personal finance management tool called Quicken. Eventually, though, they thought of developing a version of Quicken that was simpler and easier for owners of smaller businesses and people with less experience in accounting to use. Thus QuickBooks was introduced, and today it is the most popular Intuit product in existence. QuickBooks is available for purchase at the Intuit website, as well as from authorized retailers or resellers. A major part of the appeal of QuickBooks is its ability to improve the efficiency of business operations with the options and features the software provides.

Products

QuickBooks is actually available in several forms, thus accommodating a wide range of customers. The core versions of the software are the base QuickBooks Pro edition, the mid-level QuickBooks Premier, and top-tier QuickBooks Enterprise. QuickBooks Pro enables users to create invoices and track sales, enter and pay bills from vendors, and analyze or download transaction data. The Premier edition more specifically targets industries such as non-profit organizations and manufacturing. Thus, it has certain functions that are not available in the Pro edition, such as tracking inventory and creating end-of-year donation statements. Added on the Enterprise edition are features such as online data backup and protection, remote access, and the ability to create customized financial reports with Intuit Statement Writer. In addition to the aforementioned editions, there’s a cloud-based solution called QuickBooks Online; and QuickBooks Self-Employed, which is geared towards freelancers, contractors, and home-based entrepreneurs.

Interaction With Customers

With the QuickBooks Payments feature, businesses can accept credit cards from customers. The software accepts Visa, MasterCard, Discover or American Express, as well as ACH bank transfers. Also, users can create custom invoices that are tailored to their businesses. The software allows uses to add company logos, choose fonts and colors, add contact information, apply discounts and offers, flesh out the information on the purchased items, and include a Pay Now link. QuickBooks displays payments that have been received, as well as new outstanding balances; payments are usually deposited in two to three days. Following up with unpaid invoices is enabled by an emailing statement reminder option. Also significant is QuickBooks Point of Sale, which transforms desktop PCs and iPads into cash registers, thus helping business owners avoid more expensive transaction solutions.

Interaction With Employees

With QuickBooks Payroll, users can pay their employees via paper checks or direct deposit. All the employer does is enter the hours (among other vital information), and the software does the calculations. The feature also enables users to calculate taxes or grab an expert to handle any tax liabilities. Employers can go with the Enhanced Payroll or the higher-tiered Full Service Payroll. With the latter, businesses get their payroll taxes completed and filed for them, have the option of bringing previous payroll data to QuickBooks, and are assured that there will be no tax penalties.

Add-Ons

The aforementioned features and products like QuickBooks Payments, Payroll, Online, and Point of Sale are considered add-ons for enhancement of the QuickBooks experience. However, through its Solutions Marketplace, Intuit provides third-party software that seamlessly integrates with QuickBooks.

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