Finance

QuickBooks Tips For Beginners

June 5, 2020

Quickbooks is business accounting software. If you are using it for the first time then it can quite confusing and difficult to use. It cannot be as easy as using normal software, you need to understand and learn everything properly. This software is beneficial to all the emerging businesses,  you just need to understand to use it. If you are using QuickBooks for the first time you cannot just open it and start using. Practicing it using general files and analyzing it is best option.

These are the tips for all the beginners using QuickBooks

Setting up QuickBooks

Start with setting up key areas of QuickBooks that is bank and credit card accounts, products and services, and the chart of accounts invoice templates. Add the information about your customers and employees and their position. Learn to customize invoices, sales receipt and estimates. Learn to handle your product and services using QuickBooks import bank and credit card transactions.

Use QuickBooks everyday

QuickBooks is best software for your business. If you what to become efficient in using it you need to practice using QuickBooks daily. Take out some time from your day and try using it and understand various features present in it. Understand how transaction takes place and how you can save the time by using QuickBooks for your business.

Reconciling QuickBooks Accounts 

This is one of the most important work that every beginner should do while using QuickBooks. Reconciling your accounts records all the information about your transaction. It is important to reconcile your accounts, not only bank accounts, but any account for which a statement is received by you for which has a beginning and ending balance should be reconciled.  This includes all the bank accounts, credit cards and loans.

Working with sample files

Working with QuickBooks has a great option where you can add sample files. You can practice using sample files without using your original files and losing your data. Practicing how the records and transaction are filled will help you to understand the working. Try running few reports time to time so that you become efficient is using QuickBooks.

 Do not import all your data at a time

As you may have large amount of data of your customers, you do need to add all the data at a time in QuickBooks. Start adding data of some customers you connect with most. In this way you will be able to learn and understand how to work with your data. Slowly you can add more files and data and work with them.

Backing up data

Once you learned adding files and other data in QuickBooks you can now start backing up your data. When you deal with number of files of different customers it is important that no data should be lost. This can be financial loss or may be some important work could stop. So once you started using QuickBooks for business back up all the files. QuickBooks offers both online and offline back up tools. The critical information of your customers need to pe safe so this is best option.

Setting up invoices for online payment

QuickBooks provide options so that client can pay bills online. It saves your time as well as it will be easy for your customers to pay bills as they have both offline and online mode payment options.

Print checks using QuickBooks

Printing checks using QuickBooks will increase the efficiency of your work and reduce the time of entering unwanted data. It will make your monthly check transaction easy and fast.

Linking e-mail to QuickBooks

Linking your email to QuickBooks will help you to back up your all important data. It will help in emailing invoices and reports in simple and efficient way. You can link various mail programs to QuickBooks. 

Properly Record Outsourced Payroll 

Since QuickBooks can manage payroll you should learn to record outsourced payroll in QuickBooks If you are not handling your payroll transactions correctly, it can hamper your expenses and income. Learn to manage your payroll list properly so that your employees are getting paid properly.

Start using QuickBooks Find Feature 

 QuickBooks have a find feature which is one of the most used function. This feature helps you to easily find transactions about which you do not have enough information. Find feature will search your desired transaction quickly and it will be easy for you to understand the details.

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