6 Tips for Efficient Use of QuickBooks

Small business owners with vision for the future embrace every possible tool to help them accomplish their goals in a more streamlined fashion. Well-organized small business bookkeeping utilizes reliable systems and tools to account for income and expenses, create reports, generate invoices, run payroll, manage budgets, pay bills, and prepare taxes effectively.
A popular accounting tool widely used by companies both large and small is QuickBooks by Intuit.

The beauty of QuickBooks lies in the fact that small businesses can literally purchase the Simple Start Package and add additional features when they are needed. With new added features in the subsequent packages—Essentials, Plus, and Desktop Pro—QuickBooks draws growing businesses and delivers quality help for busy owners.

Business owners and their staff become proficient and enjoy taking advantage of the QuickBooks features suited for small businesses, then add features as needed. Some added features found in the most popular plan named Plus include the ability to:

  • Create and send purchase orders
  • Track inventory
  • Prepare and print 1099s
  • Categorize income and expenses
  • Location-based sales tracking
  • Manage budgets
  • Manage 1099 contractors

QuickBooks provides amazing opportunities for good stewardship of business finances. But to utilize the tools it contains to their fullest, someone employed by the business must learn how to use the various aspects of the software.

Because today’s businesses want to be not only accurate but also efficient in their accounting, it helps to learn QuickBooks shortcuts and maximize the features that suit your business. Here are some QuickBooks tips that will help your small business use this helpful software proficiently:

1. Start with the features you need.

Review the various options within the QuickBooks framework and choose the option that includes everything your business needs without extra bells and whistles. Why pay for features you don’t need when you can add them later when you do need them?

2. Take the shortcuts provided.

Quickbooks created keyboard shortcuts to save you time and increase the speed at which you work. These brilliant shortcuts omit the use of your mouse or trackpad, so your accounting can get done quicker each day. The shortcuts are designed for both Mac and Windows users, so everyone can get in on the streamlining of their work—making it quick to do the daily accounting tasks necessary for the success of your business.

3. Use the right-click menu.

The right-click menus display the most common commands related to each particular task within the software. If you right-click a transaction, you can seamlessly create a QuickReport.

4. Take advantage of the QuickMath calculator.

A convenient feature allows you to click inside a field on an invoice, select it, and press the equal (=) key, which allows you to use the calculator in the very field you are in, and compute the number you need to enter into that field.

5. Customize your icon bar.

Every business needs specific aspects of the software, so customize your icon bar to match your unique needs. Simply add, edit, or delete icon bar content. You can also pick the shortcuts you desire to see, and customize them for quick use. You can see up-to-date account balances in your cash account, accounts receivable, and accounts payable—and therefore gather information you need quickly to answer pending questions or make informed decisions.

6. Backup your QuickBooks data regularly.

What gives you peace of mind and saves time in the long run, should your computer crash? Regular backups. Your software is only as good as your latest backup. Perform backups regularly, and check up on them systematically to assure they are working. Also, become familiar with how to restore your software from a backed up file. Where is your latest backup? If it’s in the cloud, learn how to retrieve and restore the file.

Grow your business, save time, and stay accurate with your business finances by utilizing the professional bookkeeping services of Shockley Bookkeeping.

QuickBooks Management for Small Businesses

Shockley Bookkeeping uses QuickBooks, an industry-standard software, to keep your business finances in order. That means you will have powerful tracking and analytic capabilities at your fingertips.

Shockley Bookkeeping helps Broken Arrow small businesses stay in control of their books. We keep your books accurate so you can focus on what you do best—build your business. Now is the time to get back in control of your business finances. Take the sting out of bookkeeping by contacting Shockley Bookkeeping today at 918-615-8380 for a free quote and consultation.