Top 5 Features of Intuit QuickBooks Accounting Software

One of the accounting tools that has gained massive recognition and usage is the Intuit´s QuickBooks Software across the entire planet. Whether he/she is a freelancer or accountant, QuickBooks is a factor in the efficiency, simplicity, and power of a business no matter the size. QuickBooks is constructed not only to control funds but also to fulfill the entire accounting system, which is a boon for those who quiver at the thought of spreadsheets, taxes, and infinite paperwork.

QuickBooks provides solutions for different types of requirements between startups, growing companies, and established companies. You’ll be able to manage your finances in accordance with your individual business plans such as through QuickBooks’s tools that enhance professionalism by enabling transparency and uniformity, and thus reducing errors to the barest minimum.

In this article, we will probe the top five QuikBooks features of Intuit Accounting Software that won it the appeal of every size of business. We also will cover some pressing issues with the help of a fascinating FAQ section and compare QuickBooks with its competitors in two tables.

1. Automated Bookkeeping: Making Accounting Effortless

The majority of such entrepreneurs may find bookkeeping somewhat cumbersome. The endless running of expenses and the assurance that everything is cleared up at the end of the month can appear as a never-ending commitment. Automatic bookkeeping in QuickBooks acts as a substitute for that situation.

Just think about this: There will be no longer every single transaction input, nor will be having sweaty palms because of credit card statements not being in order. QuickBooks takes the weight off you by automatically hooking up with your bank accounts and credit cards to keep your records straight, up-to-date, and without you having to intervene at all. It is the equivalent of having the best accountant at your disposal 24/7 but without paying him/her.

This is the reason the automated bookkeeping service offered by QuickBooks is so important:

Bank Account Integration: QuickBooks integrates with over a thousand banks and financial institutions thereby making your job of uploading and categorizing the transactions more effortless. This level of automation provides countless hours that could have been spent entering the data manually.

Smart Categorization: It is not all that is available from downloading transactions. QuickBooks automatically classifies them, thus eliminating the probability of human error. The only thing left to you is to review and confirm.

Effortless Reconciliation: The process of reconciliation has never been simpler before. QuickBooks uses complex transactions-matching-downloaded-to-your-records algorithms to spot any inconsistencies so you can resolve them in no time at all.

Instant Access to Real-Time Data: QuickBooks is a cloud-based system meaning your data is always on the up-to-date end, and it delivers the insights in real-time making it possible to make instantaneous decisions.

Therefore, QuickBooks does exactly that: it automates such troublesome and laborious little things, which by default are very time-consuming and prone to errors, thus it gives you the security that you never went wrong by being specific and up-to-date.

2. Advanced Reporting and Insights: Know Your Financial Pulse

Business people must be aware of their financial health. Becoming a successful enterprise does not matter without evidence of financial literacy. However, this could be hard for small business owners to achieve because they lack the right tools. QuickBooks officers the best way to advanced reporting which traditionally has just the basics as the main content. It not only gives a report but also gives directions and hints on how this company can be in the future.

The power of QuickBooks lies in the depth and flexibility of its reporting system:

Customizable Reports for Every Need: You need only basic balance sheets, profit and loss statements, and cash flow reports and QuickBooks determines the same with functionality that can be built into the system in accordance with the specific needs of your business. You can also select the date range, include or exclude data points and produce reports that give you a clear view of your financial performance.

Real-Time Dashboards: At your fingertips, QuickBooks offers you on-the-go access to your business performance graph anytime. Impression Revenue, Claim Expense details, Profit Margin analysis, you have all this on just one click, well, actually just a glance at the two features that display these. Reports at the end of the month are no longer necessary, do you want to read your dashboards and see the status of your real-time decisions?

Project Profitability Tracking: Do you care how much money you are actually making from your customers on a certain project? QuickBooks delivers that to you. It further measures the profitability of your account on a project-by-project basis, thereby enabling your discovery of productive areas in your office and those that maybe need some extra help.

Automated Financial Reporting: You not only have the on-demand generation of reports, but QuickBooks can also mechanize the process. Reports can be sent along with a time-table to you on a weekly, monthly, or quarterly basis. Maintaining awareness of funding does not need to be cumbersome when Daily, Weekly, or Monthly Report is set up appropriately.

For business people, these things are not just numbers – they depend on them in the project of success.