The maker of QuickBooks, Intuit, publishes a new version of this accounting software each year that includes updated and new functionality and some patches for flaws that have already been found. For "patches," these upgrades are sometimes referred to as maintenance releases. The updates improve QuickBooks' performance and automatically address a number of issues. All of these updates are cost-free for the introduction of new products. You can download these upgrades to increase efficiency at your business. Additionally, keeping your software up to date and preventing any problems that can limit its efficient operation are both benefits of regular software upgrades.
However, a lot of accountants were not really happy with this software, therefore several changes were made to it. Later, further features were added, including batch transactions, bill tracking, continuous feed label printer support, batch delete/void transactions, etc. It began to have a lot more features added to it over time. Because it is so simple to use and comprehend, the QuickBooks software application has proven to be incredibly helpful for business owners and individuals without accounting experience.
The accounting software QuickBooks includes a lot of features. The following are some of them:-
Create and track invoices with QuickBooks. The user may then print and email the invoices to his clients.
Keep track of bills and expenses: By connecting your bank account and credit cards with QuickBooks, you can simply calculate and classify your expenses. This allows QuickBooks to keep track of bills and expenses.
Print the following financial statements for your company: The management of inflow and outflow activities is aided by QuickBooks. Financial statements that detail firm performance is available for printing. In QuickBooks, the three financial statements are:
• Loss and profit statements
• Report on the balance sheet
• Cash flow statement
Maintain a close eye on staff time and costs.
Payroll: By using QuickBooks to manage your payroll, you may perform the following tasks:-
• Employer is paid via direct deposit or check.
• payroll taxes at the federal and state levels automatically
Monitor inventory: Your inventory's cost and quantity can be tracked in QuickBooks. You can receive automatic reminders from QuickBooks to place inventory orders.
Simplify taxes: QuickBooks' most crucial task is to make tax season easier for small businesses. It helps much while drafting tax returns.
