QuickBooks Online has become a globally recognised name in accounting
We are advocates of QuickBooks online as we have seen just how much our clients have benefited from it. It has a range of features including some unique functions that some of its competitors lack. QuickBooks online won’t be suited to everyone but it certainly meets the needs of many.
Easy to store and track income and expenses on the cloud
The software has an app that allows you to take a photo of a receipt and then it cleverly extracts most of the data for you. This reduces the amount of data entry involved. You can easily see from the dashboard how much you have spent on expenses and what percentage you have spent on each category. i.e. 33% of monthly spending is on client meetings.
You can also see what invoices are overdue and which are soon to be due. You can click into a series of different tabs that enable you to view sales so you can see where your income lies.
Connect to your bank and run reports
By connecting it to your bank, the information in your accounts will be even more accurate and up to date than before. You can connect it to multiple bank accounts which saves you the work of having to login into your online bank accounts constantly.
You can then take that information plus other data that has been entered and create accurate reports to help you with cashflow forecasting, business projects and anything else you might need figures for.
Create invoices and estimates
You can create estimates which then can be converted into invoices at a later date, either in part or in full. You can even print delivery notes. On your invoice one of the options you can choose is to allow them to pay by card. This allows quick and easy payments from your client.
You can add a series of different services ahead of time so that you can easily add them to invoices i.e. call out fee at a rate of £60.
If you have invoiced the client previously then QBO stores this information and when you select the client next time it populates the address and email for you. You can also choose to send it to multiple email addresses.
You can also add attachments to the invoice.
A quick overview of features
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- Support – telephone, email and chat
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- Bank Feeds – connect directly to your bank
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- Purchase Orders – tracks goods received and goods still to come; link to bills
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- Multiple analysis – unlimited tracking of locations, departments, projects, people etc
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- Customisable reports – easy to use and adapt to your business
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- Cashflow forecasting – plan ahead based on trends within your software as well as manually entered variables
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- Budgeting – budgets based on nominal codes, locations, departments, project, people etc
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- Payroll – simple to use with a whole range of features, from auto-submissions to pension providers and HMRC, to timesheets
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- Stock control – Quickbooks can calculate the profit made on each item sold. Figures are instantly reflected in your P&L.
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- Mobile app – one app for everything from invoicing to photographing receipts
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- Email to QBO – forward bills to QBO and let the system extract most of the information for you
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- Multi-currency – handles multiple bank accounts in different currencies as well as customers paying you in different currencies
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- Mileage tracker – use your phone app to track miles
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- Paypal – embed Paypal into your sales invoices to provide an even faster way to get paid
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- CIS deductions – verifies the subcontract and calculates the CIS deduction from their invoices
Book in a meeting to help get you started
At COS we can help you delve into the features you need and really get to grips with your software so that you can meet deadlines, plan for your future and run a successful business. If you’d like to learn more about QuickBooks online and whether it could be right for your business, contact us for a free software consultation.
Book an appointment below.
For information on our tiered support pricing click here.
