Accounting software is solutions record bookkeeping exchanges inside utilitarian modules, including debt claims, creditor liabilities, preliminary parity, and finance. These solutions operate as bookkeeping data frameworks. Accounting software is also used to monitor exchanges and incomes, perform estimations, and generate reports. Accounting software helps boost productivity and proficiency and decreases costs. To keep end of year accounting on track, users need to reconcile their books, including credit cards, bank statements, and other accounts related to their business. Accounting software basic features contains – sales tracking, automated invoicing, timekeeping, financial reporting, and accounts payable, accounts receivable functions, tracking company inventory and purchase orders, receipt capture via document and analytics for budgeting and revenue tracking.
QuickBooks Online is a cloud-based accounting solution that enables small businesses, large enterprises, startups, freelance bookkeepers, and independent accounting firms to manage expenses, projects, invoices and many more. QuickBooks Online is a universally accessible and light solution that offers quick downloads of banking transactions. This solution features connectivity with various credit cards and banking portals. QuickBooks accounting software Online can be integrated with native and third-party applications such as Revenue Books, Syft Analytics, Freedom Merchants and more.
QuickBooks pricing plan has several web-based features such as remote access capabilities, remote payroll assistance and outsourcing, electronic payment functions , online banking and reconciliation, mapping features through integration with Google Maps, marketing options through Google, and improved e-mail functionality through Microsoft Outlook and Outlook Express.
Benefits of QuickBooks Online
- QuickBooks centralized dashboard allows the user to derive insights about business trends, organizational performance using key performance indicators (KPIs), sales performance, expenditures, and other crucial financial data.
- The platform enables the administrators to assign tasks to sales representatives, grant access to specific users and collaborate on projects with team members.
- QuickBooks combines all of the essential accounting tools in a single platform that offers solutions for expense tracking, profit and loss reporting, invoice customization, bill payments, tax calculation, invoice management, and sales monitoring in order to simplify small business accounting and financial management.
- QuickBooks Online can perform real-time finance monitoring and generate reports based on the users’ preferred data visualizations. It automates the data collection process to ensure that financial information is updated instantly.
- QuickBooks Online web-based solution offers a simplified data synchronization option that keeps your accountant posted about your financial data details for earnings and expenditures.
- QuickBooks Online offers intuitive security options to safeguard the confidential data of your accounting system. The user can take back up of their data to the cloud for record-keeping, exporting them into spreadsheets only when needed.