A Beginner’s Guide to QuickBooks: What It Is and What It Does
Whether you’re just starting out in business or your company has been around for decades, managing your finances can be one of the most important tasks you have to do on a regular basis. Luckily, there are plenty of different software options that can help you stay on top of all the numbers, including QuickBooks. This guide will give you an overview of what QuickBooks is and why it’s such a useful tool to have at your fingertips. By the time you’re done reading, you’ll be ready to start using QuickBooks on your own.
What is Quickbooks?
Quickbooks is an accounting software created by Intuit. The software allows you to keep track of your finances including inventory, receivables, expenses, payroll, taxes, loans, and banks. In order to keep track of the money coming in and out of the business you should sign up for a merchant account so that people can pay for goods and services with their credit card instead of cash.
Why Should You Use It?
QuickBooks is a bookkeeping software that lets you organize your business finances. The program offers some basic features, but most business owners purchase a more robust version because they need the advanced features it provides.
How Much Does it Cost?
The cost of QuickBooks varies depending on the version. The most basic, Quicken Starter Edition, is free. The next level up, Quicken Deluxe 2018 for Windows or Mac costs $59.99. Quicken Premier for Windows or Mac costs $119.99 and does more than just accounting; it helps with payroll too.
Desktop Versus Online Versions
There are two ways to use this software program, a desktop version that you can install on your computer as well as an online version. The main difference between the two is that the desktop version is only available for Windows users, whereas the online versions are for both Mac and Windows users. As for what each does, it’s best if you take a look at this chart.
The Desktop Version
Where Can I Get it?
You can get a free trial of the basic version of QuickBooks on the Intuit website. To upgrade, you can subscribe for $12.99 per month with a one-year commitment or pay-as-you-go for $24.99 per month. If you’re just testing out Quickbooks to see if it will work for your needs, then go with the free trial first!
How do you register for it?
QuickBooks is a software program that can be used for managing your company finances. You can use it for payroll, invoicing, tracking business expenses, calculating taxes, and much more. The free version is intended for small businesses with annual revenues of less than $500,000 per year.
Setup Section
-Lets you track income, expenses, and other data.
-Helps you make better budgeting decisions.
-Eliminates repetitive entry of data with automatic functions.
QBO Section
One of the best features of QBO is the capability to work on mobile. That means you can sign in, make changes, and file your receipts from anywhere. Plus, there are iPhone, iPad, or Android apps available for QBO that allow you to work from your mobile devices.
The Basics of the Interface
The user interface of the application is quite simple. A navigation bar appears at the top of the page with options for Dashboard, Company, Accounting Entries, Banking Entries, Reports, Lists, Invoices, and Customers.
The Major Sections in QBO (some have sub-sections). Most have some sort of help file associated with them, accessed by clicking on the question mark icon. There is also a Getting Started tab near the top that gives some good info on using QBO.
The company dashboard is where you see all your business information at one glance. From the Dashboard, you can do things like manage sales and customer relationships, create quotes or estimates, and pay bills.
You can take a bird’s-eye view of your business from the Home page by clicking on one of the four tabs at the top left of the page: Company Info, Invoices & Sales, Pay Bills, and Reports.
