QuickBooks® software is how many small and midsize organizations complete their day-to-day bookkeeping. But QuickBooks doesn’t stop there. It also provides tools to help improve efficiency and strengthen financial oversight. For growing organizations, QuickBooks has expanded its automation, reporting, and integration capabilities in recent years making it even more useful.
You can get more value from the system you already use by tapping into these tools and abilities. Take a look at some of the most useful features you can utilize:
Mobile access. Download the QuickBooks app for smartphones and tablets to access your financial data anywhere, anytime. This lets you track finances in real-time and stay responsive.
Automated reminders and notifications. Set up automatic reminders for recurring bills and alerts to notify you when cash balances fall below specific thresholds or when inventory levels approach the reorder point. QuickBooks also provides enhanced automation tools, including rules-based transaction categorization and workflow approvals, to help reduce manual data entry and speed up routine processes.
Profitability insights. The software can help you determine profitability by tracking project-related time, expenses, and revenue. This makes it easier to bill customers quickly and accurately. In addition, custom fields and enhanced reporting tools can break down performance by location, product line, customer type, or other categories relevant to your business.
Customer and vendor management. This capability allows you to store customer and vendor information, including contact information, transaction and payment history, and notes. QuickBooks even offers features for managing contractor information, such as streamlined 1099 tracking and W-9 collection.
Branded invoices and payment options. Custom invoices can be created with your logo. The software can also facilitate customer payments with credit cards, the Automated Clearing House (ACH) network and online payment platforms, such as PayPal or Venmo. Expanded integrations support many e-commerce and point-of-sale platforms, helping businesses consolidate sales data into a single system.
Order tracking and inventory tools. Built-in purchase and sales order management systems allow you to track incoming orders and outgoing shipments more effectively. Depending on your subscription level, QuickBooks may also provide more robust inventory tracking and reporting capabilities.
Customized bank and credit card feeds. Import transactions from bank accounts and credit cards, then classify each transaction within your accounting records. In addition, the platform’s auto-categorization tools can suggest matches based on prior activity, helping streamline reconciliations and improve accuracy.
Integrated payroll processing. Users can manage payroll data in QuickBooks, making it easier to handle payroll on a single platform and comply with tax laws. Integrated tax tables and automated filings help reduce compliance risks and administrative burden.
Third-party app integrations. Many third-party applications — including payment processors, payroll systems, and e-commerce platforms, such as Amazon Business, PayPal, Square, and Shopify — work with QuickBooks. These integrations allow you to connect systems for sales, time tracking, inventory management, and customer relationship management, reducing duplicate data entry.
Get More From Your Platform
QuickBooks can do far more than record transactions. When configured properly, it can streamline routine tasks, strengthen internal controls, and offer timely insight into your financial performance. It can also enhance collaboration with your accountant by providing secure, real-time access to your books and shared documentation.
If you haven’t reviewed your QuickBooks setup recently, you may be overlooking features that could improve efficiency and visibility. Contact us for guidance on optimizing your configuration or evaluating other software options.
