Busy entrepreneurs juggle a long list of tasks every day. As such, any accounting systems that can make their duties more streamlined and convenient to manage will help take some of the load off. QuickBooks®, a small business software program, is a viable solution. It offers a host of functions to help keep your company’s financial records on track. Here are just a few ways that QuickBooks services provide much-needed support. 

4 Ways a Business Can Benefit From QuickBooks

1. Manage Vendor Payments

You want to ensure your professional relationships with vendors are strong, which means making sure they’re paid on time. QuickBooks services allow you to submit third-party bills with payment due dates so that you don’t miss deadlines. You can also use the software program to print checks or make online payments for faster turnarounds.

2. Create Cash Flow Statements

Knowing how much money is coming in and out of the business protects your company’s bottom line. With QuickBooks services, you can create customized cash flow statements with categories for net income, adjustments, and financing activities. There are also additional features that produce statements based on weekly, monthly and quarterly intervals for targeted tracking. 

3. Keep Track of Payroll

Staying on top of payroll is one of the top priorities for any business. QuickBooks services provide a payroll processing function that will automatically calculate wages and salaries. The program also factors in federal and state payroll taxes and auto-fills tax forms for quicker completion. Additional features include arranging direct deposit or paychecks for employees. 

4. Archive Business Receipts

Impeccable financial records are a must for businesses, especially when it’s time to file income tax returns. This includes keeping a running file of receipts. QuickBooks has a mobile app that allows you to immediately take pictures of receipts to upload in your system. Keep track of all your business expenses with functions that link the receipt to the transaction on your bank statement. 

These are just a few of the ways QuickBooks services can help your business thrive. For more than 20 years, Balanced Bookkeeping & Tax Services in Nebraska has provided the Lincoln Metro area with expert support to small businesses using this comprehensive accounting software. From setup and training to ongoing assistance, you can count on their team of experienced CPAs and IRS enrolled agents to help manage your firm’s financials. To learn more about QuickBooks, call (402) 466-4272 to schedule a consultation. Visit the website for information on the accounting program.