Looking to navigate QuickBooks more efficiently?

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1. Integrate your digital tools with QuickBooks

Do you use other apps and wish you could just use one?

QuickBooks allows integration with a variety of digital tools, so you can have your transactions seemingly flow through. For example, linking your bank accounts will automatically bring in any expenses & payments, so you do not have to manually enter them. This includes auto importing previous or current invoices, receiving payments, bills, etc.

2. Use class and location tracking to organize your transactions

Properly recording your class as you categorize your transactions will help you better track where you’re spending your money. This is highly efficient for businesses that have multiple locations. 

3. Attach source documents to your records

When you record invoices, deposits, checks, it can be very helpful in the long run to attach the appropriate document with it. This way in the future you will have proper documentation to support your payments and expenses.

4. Set Up Recurring Transactions

When you set up recurring transactions, they will automatically categorize themselves. This saves so much time and keeps you from having to frequently search for what you categorize it as last time. 

5. Pay bills directly from QB

Instead of having multiple software’s to switch between, you can pay your bills without having to leave QuickBooks. You can also schedule these bill payments in real time.

6. Use the cash flow planner

In times when you need to track your predicted income or expenses, the QuickBooks planner can track this for you to stay on task.  For example, if you wanted to create a budget for yourself and implement “what if” scenarios, the planner allows you to do that. You can increase and decrease your debt, savings, investments, etc. to estimate your future progress.

7. Save your favorite reports

QuickBooks has a variety of reports you can filter and adjust to exactly what you’re looking for. These reports will automatically update themselves based on the date you’ve chosen.

8. Setting up chart of accounts

Keeping your chart of accounts updated & cleaned up will be efficient for your balance sheet and profit & loss reports. This will allow you to evaluate your active accounts and see where your income is going.

Using QuickBooks can be very beneficial to your company!

If you’re looking for more tips, schedule a free consultation today!