Finding the right accounting solution for your small business is a must. That’s why many business owners look to QuickBooks® to address their financial accounting needs. This software makes essential tasks like bookkeeping easy, provided the user has the proper knowledge to get the most out of it. If you’re new to this software, here’s what you need to know. 

What Is QuickBooks?

In the simplest terms, QuickBooks is a virtual accountant. It helps owners keep track of recurring expenses so they can devise a budget. It also tracks money owed by customers and clients, so unpaid invoices don’t go unnoticed. It also helps business owners organize their tax filings and create reports so they can drill down into financial data. 

How Is It Used by Small Businesses?

QuickBooks can be used for a variety of purposes. Along with tracking incoming and outgoing payments, it’s also be used to create profit and loss reports. These reports can be broken down into separate periods of time, such as weekly or monthly profits. The software can also provide payroll services, keep track of your inventory, and provide access to online invoicing.

What Benefits Does It Offer?

Many business owners attempt to do bookkeeping on their own. Not only does this increase your risk of making expensive mistakes, but it also consumes a lot of time and energy. This time can be better spent elsewhere, such as bringing in new customers. QuickBooks provides an efficient way to perform accounting tasks, with processes in place to prevent mistakes from occurring. Mistakes regarding taxes can be quite expensive to remedy, so investing in the software can save you money. 

If you want to get more out of QuickBooks, Roy E. Carter, CPA, PC is here to help. Based in Augusta County, VA, this certified public accountant has extensive knowledge of QuickBooks. He will help you with bookkeeping, payroll, and invoicing and will even be available to help you troubleshoot problems as they arise. Schedule an appointment today by calling (540) 886-6251. Learn more about their bookkeeping services by visiting the website.