10 Reasons Why QuickBooks Is the Best Accounting Software for Small Businesses

By April 30, 2021 Business Advice
quickbooks

When you run a small business, you rarely have extra time on your hands. You’re always looking for ways to increase efficiency, while still being cost-effective. It’s important to choose the right tools and products to achieve those goals.

One critical factor of running a business is having the means to manage, track, and report your accounting functions. Invoicing, payroll, inventory, and reporting are all part of an accounting system that must be managed. That’s why having a robust, easy-to-use accounting software package is a must.

Benefits of Using QuickBooks

Many accounting software programs are available to small businesses, but none compare to the simplicity and ease of use that comes with QuickBooks. With a simple accounting program like Quickbooks, you can easily handle all your financial needs in one place.

QuickBooks is the best accounting software for small businesses because it provides a full range of financial management and reporting features.

There are many reasons why this software stands head and shoulders above its competition when it comes to accounting software packages designed specifically for smaller companies. Here are 10 ways QuickBooks is the best accounting software for small businesses.

1. Cost

QuickBooks is the most cost-effective accounting software for small businesses. It's a fraction of the price of other programs, and its ease of use makes it worth every penny. You can even get a free 30-day trial to test it out first.

2. Easy to Use

It’s easy to set up and use QuickBooks for your accounting functions. You can create invoices in QuickBooks without a lot of preparation beforehand. All your information will be organized in one place so you can easily find what you need. The toolbar features provide helpful links to facilitate finding and tracking data. It can also be set up to integrate with other accounting applications and payroll services.

QuickBooks’s online dashboard is simple to set up and use. The tool has excellent tutorials and help features that provide additional support when you need it.

3. Customizable

QuickBooks comes with ready-to-use templates business owners can use to create invoices, spreadsheets, charts, and business plans. The software also makes it easy to customize the look and feel of those documents, so you can tailor them for your use.

4. Streamlined Processes

The software allows you to track your finances and streamlines accounting processes.  For example, QuickBooks allows you to keep track of inventory as well as everything from payroll and customer reimbursements to payments made on behalf of your company. It also has an easy importing feature so that data can be easily transferred in or out based on what needs are at hand.

5. Complete 

You can manage all aspects of your accounting processes with QuickBooks. This includes cash management, vendor tracking, inventory control, invoice generation, and more. You can generate over 50 reports from the app that are comprehensive and customizable for your specific business needs.

From tracking everyday expenses to getting ready for tax time, you’ll have what you need. You can even sign checks electronically by scanning and uploading your signature into the app.

6. Secure

You need to know that your finances are protected from those who should not have access. QuickBooks is as secure as any online accounting software can be. Data stored in the app are continuously monitored under 24/7 surveillance to ensure the security of your assets. Furthermore, they leverage reliable security features like multi-factor authentication and password-protected login.

7. Portable

QuickBooks is a cloud-based application that you can access from any device at any time. All you need is an internet connection. There’s even a smartphone app for it!

8. Paperless

Everything can be done electronically in QuickBooks. Store receipts, receive invoice payments, maintain reports--nothing needs to be printed to process your accounting functions. Save lots of trees and get rid of those old file cabinets!

9. Works for any Industry

It doesn’t matter whether the type of your business is construction, restaurant, retail, non-profit, services, or any other focus, QuickBooks can handle your accounting. Whether your business is small, medium, or large, the software can meet your needs. That means if you start out small and grow exponentially (YAY!), QuickBooks will grow with you.

10. Innovative

There are lots of improvements inside the software that can always prove to be helpful for running your business. New features are added regularly, so all your financial areas can easily be covered.

Need Help with QuickBooks?

Although QuickBooks is user-friendly, there are many features that you may not even realize are available to you. The staff at Orcutt & Company are experts in getting the most out of QuickBooks. We can help your business use it to its full potential.

Contact us today for more information.