Read Out The Complete Use of Quickbooks in Daily Life
Software company “Quickbooks”, developed and marketed by the parent company ‘Intuit’ by Scott Cook and Tom Proulx was launched in 1983 in California, USA. The first software launched by the company was “Quicken” that became instrumental in helping the individuals to manage their advances with much ease. Quickbooks, software that our article deals in, was launched in May 2002 for the medium-sized businesses. From then on the company has been modifying the software according to the changing needs of its users.QuickBooks, a business accounting software helps to effectively manage sales, expenses and keeps track of daily transactions. The software is also widely used to invoice customers, bill payments, generating reports leading to effective planning, tax filing, and much more. “Intuit” the parent software company has designed varied Quickbooks products namely “Quickbooks online”, ”Quickbook desktop”, ”Quickbooks self-employed” and ”Quickbooks Mac” to choose from.
Knowing the many benefits the software offers to medium and small-sized business organizations, it is imperative to use it to its fullest potential to gain the best out of it. We have prepared this writeup exactly for this purpose. Read the efficient ways to use the software properly and to your maximum advantage!
[A] Firstly, work on the underlying construction!:
The first and foremost thing to be taken into consideration is the basic structure and design of your file.To begin with, it is better recommended to start with a working copy of your accounts and lists to provide a clear direction for your software to act.A spreadsheet also comes to good use to sort, organize and group various elements.
[B] Your company preferences reflect the way your business work. Make sure to set it appropriately!:
Set or modify your company preferences on the software. The company preferences are a reflection of how your business works. Make appropriate changes in the structure of data, reports, and features that you would use.
[C] Get acquainted with the Quickbooks’ list feature to make the most of the software !: Quickbooks’ list feature allows the user to assimilate the information and reduce the data entry chores. Through this feature, you can also customize reports and gain the information required to make management and pricing decisions.
[D] Stay cost informed with the “Chart of Accounts” feature: Every successful business requires you to stay cost informed. Any carelessness about the costs can land you in much of a business mess. Make use of the reliable “Chart of Accounts” feature to get instant information on costs and make your decision making much more effective.
[E] Make the most of the “Customer :Job” feature: Through the Customer: Job feature you can perform varied functions such as :
- Easily track all financial transactions applied to a specific customer.
- Effectively assign payments, bills, employment time, estimated cost, purchase orders,, etc to each and every job in the organization.
- Arrange names in various ways to provide useful analysis and summaries.
[F] Create easy and unique nicknames for the vendors to easily recall later :An enterprise deals with varied business organizations. Remembering the name of each vendor becomes much of a task. You can make it easier by creating a nickname for the vendors you deal with to auto recall the cost assignment while keeping their formal name for payment.
[G] Customize the company’s reports to meet the individual needs: Quickbooks also enables the user to customize the organizations’ reports for company owners, individual departments and accountants. Make good use of the customization feature to meet the varying company needs.
[H] Highlight the information important to your company and monitor it well: Through the help of the software, you can keep a proper account of the information important to you. You can establish accounts and items and report on the data important to you. For instance, you can add the “Overtime” account which you can quickly see and monitor its costs.
[I] Get acquainted with the Quickbooks “Help” features: For the best use of the software, get well acquainted with the onscreen “Help” features. They are as mentioned below:
- Press F1 for getting help with the window.
- Through the “Help Index” click on the relevant word to see definitions, explanations, examples and related topics.
- Through the “How Do I?” option found in the activity window get the relevant answers to your queries.
Hope our endeavor to help you with the proper use of QuickBooks will come to your advantage. Assimilate hard work with some smart work with the Quickbooks software and soar high in your field. For further information regarding the optimum use of the software, contact the Intuit Quickbooks support phone number displayed on their official website.
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