Managing daily bookkeeping and tracking financials can place a lot of demand on a small business—especially if you’re an owner that’s used to wearing many hats. Fortunately, with QuickBooks® software, you can streamline the processes and enjoy accurate, rapid reporting. If your company needs simplified accounting, here are five specific ways that QuickBooks helps growing businesses.

5 Ways QuickBooks Helps Small Businesses

1. Keeps Accounts in One Place 

Companies will often use various accounts to keep designated funds—such as those reserved for liability or expenses—separate. With QuickBooks, you can compile all of these financial accounts into a single platform.

By consolidating your accounts, you can access up-to-date data quickly. You can even use online services to see this information remotely, so long as you have the right credentials.

2. Cuts Checks Quickly 

Whether they’re paying vendors, insurance providers, or employee salaries, small business owners will often find themselves writing numerous checks a month.

QuickBooks, however, can capture and store your signature to print usable checks in a matter of minutes and simultaneously keep a record of these payments.   

3. Organizes Tax-Related Information 

Without QuickBooks, you or your accounting team will have to sift through numerous financial documents to estimate owed taxes, claim deductions, and submit a return to the IRS. With QuickBooks, you can skip this time-consuming process.

Instead, the program can instantly transfer this data to your preferred tax planning program so you or your accountant will be able to produce a return efficiently and error-free.

4. Tracks Expenses in Less Time 

If you perform work that involves reimbursable expenses, or your employees do, you’ll want to have QuickBooks on hand. Equipped with receipt scanning and other intuitive features, this accounting software can quickly record and classify expense data. You can use these records to verify expense reports, as well as produce invoices when you’re billing clients for reimbursements.

5. Produces Insightful Reports 

Although QuickBooks is prized for providing real-time financial updates, it can also help you plan for your small business’s future needs. Equipped with numerous reporting features, this software will quickly compile and produce easy-to-understand reports that can help you, investors, and clients anticipate future financial opportunities—such as when you’ll be cash solvent enough to open a new location or hire more employees.

If you’re not quite sure where to start with QuickBooks, Grayson Accounting will help you transition with ease. Recognized as a QuickBooks ProAdvisor, this Saint Charles, MO, accounting firm knows how to set this software up for small businesses and provide comprehensive bookkeeping support along the way. They can also utilize your digital reports to help with other financial matters—such as bank reconciliation and payroll services. Visit this firm online to learn more about their services. To request QuickBooks help, call (636) 233-7875.