After you set up expense and revenue categories, the software can assign each transaction to the desired accounts. Statement downloads: The online software can download your bank and credit card statements automatically.Data ProcessingĪs I mentioned above, you need tools to increase productivity so that you can grow your business, and QuickBooks is a great tool to work efficiently.

If, for example, you want to flexibility of the online version and you must account for inventory, you may be able to find an app to address that need. Keep in mind that, if the online version does not offer some of the features you need, you can add hundreds of apps to the online software to meet you accounting requirements. If you’re in a business that requires you to provide job estimates to customers, for example, you need a job cost accounting process.Ī service-based business, such as a doctor, lawyer, therapist, or consultant, can use the online version and the superior capabilities.

Desktop also offers some additional features related to job costing. If you’re a retailer and carry inventory, the desktop version offers more features related to inventory, bill of materials, and cost of sales reporting. While a majority of QuickBooks users are migrating on the online version, there are a few reasons to use the desktop software. Grow your business and control your time. Invest the time and effort to move your payroll processing- and all of your accounting- into a software package. If you’re using Excel documents and spending two full days to process payroll for 40 employees, how can you grow to 200 employees? Finally, you may lose files due to a system crash, or by not saving data often enough as you work. If you make an input error, or you don’t link spreadsheet tabs correctly, your payroll calculations will be incorrect. Excel documents can get misfiled, and you may end up using the wrong version. To explain the point, I wrote this article for QuickBooks on why no business should use Excel to account for payroll.

Now, that a pretty strong statement, but the more I read about and write on business topics, the more I believe this statement. No business can grow profitably without using accounting software.

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