What is Quickbooks and how does it work?
Quickbooks is an online accounting platform catering to the needs of small or medium sized enterprises. It also delivers their services for the benefit of individual accountants and the personal finances of users. The software enables businesses to record invoices, track sales receipts and refunds. Track expenses, cheques and bills, purchase orders and more.
Quickbooks makes it easier for businesses to to conduct bank transfers and deposits and keep employees on their payroll. A comprehensive accounting platform helps keep businesses financially independent and sound.
How to create Invoices on Quickbooks
Here are a few tips on how to fill out an invoice:
The ‘Quick Create Button’ on the upper right corner of the page shows you a menu of transactions from customers, vendors, employees and others. Under the customer column you will find the option for creating an invoice.
- Select the name of the Customer for whom you are filing the invoice
- Select the date of transaction
- List down the billing address
- List down the product sold or the service rendered
- Fill in the details such as the description, quantity, rate, amount and then finally click save.
Tracking expenses follow the same format, the user will have to fill in the details like the name, address, date of purchase, description of the item purchased and bill amount. The system will automatically fill in the date on when the bill is due.
Quickbooks Accounting Software: For GST
The software enables users to create and track transactions without the hassle of additional steps. GST Identification number (GSTIN) will help users to create invoices with GST tax rates, track GST returns and help customers follow how much GST they owe as well as create GST return reports when filing taxes. The business owners can share their financial data with their accountant readily. Easier access to financial reports, cash flows, balance sheets and other analytical tools helps experts provide sound financial advice.
Quickbooks allows other platforms such as PayPal, American Express and so on to import data directly to an account which helps users track all their transactions in one place.
‘BACKING YOU’ Campaign
In 2017 Quickbooks launched a campaign in alignment with their commitment to support small businesses.
“As a trusted partner of small businesses, QuickBooks is committed to helping small businesses achieve success every day by helping them navigate the complexity that sometimes faces them on their journeys,” -Dan McCarthy, Senior Vice President, Intuit Quickbooks.
“BACKING YOU started as a way for us to demonstrate our commitment to our customers and continues today with ‘Journey to Success,’ which spotlights the ways QuickBooks’ connected business tools can help businesses achieve success, simplify operations and drive financial prosperity.”
Businesses today have the freedom and tools within their reach to achieve financial independence. Alternative accounting software’s include Xero, Sage, Freshbooks, Wave accounting and so on.
