If you’re an entrepreneur or small business owner, you’ve likely heard of Quickbooks. Like me, you might even be using it in your business already. But given the number of features Quickbooks offers, there are probably many more elements in your business that could be improved by using QuickBooks.

Personal productivity in the workplace affects every aspect of business, from new clients gained to sales generated. Unique productivity strategies range from reducing distractions to increasing motivation and self-discipline.

The QuickBooks program helps business owners save time by allowing them to organize their income and expenses in one place. Both the desktop and online versions of QuickBooks offer a variety of features for a monthly or yearly subscription fee.

In this article, we’ll explore the different features of QuickBooks and how they can help you save time and increase efficiency in your business.

Getting Started

QuickBooks is one of the most popular accounting software packages for small and mid-sized businesses. Its ease of use and affordability make it a top choice among business owners. It can handle all aspects of business accounting, including banking and credit card transactions, payroll, financial reporting, taxes, inventory management, and more.

Various QuickBooks training for beginners are available to help you learn how to operate this powerful accounting software package. The Complete QuickBooks Training program provides basic features of QuickBooks. It teaches how to set up and manage a QuickBooks data file, prepare well-organized data for entry of transactions, pay bills and reconcile bank accounts, manage manual entries in the register, download payments, work with PayPal, and more.

Quickbooks Payroll

One of the most time-consuming tasks is paying your employees. It requires meticulous attention to detail, as any error could result in unhappy workers and hefty penalties from taxing authorities. With QuickBooks payroll, you can streamline the process to save time and money. Getting started is simple whether you’re an existing QuickBooks customer or looking to try the program.

There are three levels of QuickBooks Payroll, including basic payroll processing and full-service options for worker’s comp, health insurance, and more. The program is easy to use and has an extensive tutorial, knowledge base, and phone support.

To set up your payroll, log into the QuickBooks website and click “Payroll.” Choose the plan that best meets your needs. Then, add your employee information, including the amount they will be paid and any deductions. You can also add a pay policy (like maternity or vacation leave) if applicable. In addition, you can link your QuickBooks account to a bank account for each paycheck.

Quickbooks Inventory

For small or newer businesses with minimal SKUs and uncomplicated product portfolios, QuickBooks’ native inventory tools may suffice. In the Enter Bills window, for example, you can record a receipt by selecting an expense account (like an inventory item), identify the vendor job and class (if applicable), and record the new physical count for that item. QuickBooks will then add the item to your Item List and make it official. Alternatively, you can create a bill of materials (also known as a product recipe) for each product you sell that contains the components and assembly process your products undergo to become final goods. Then, you can use the inventory reports in QuickBooks to track what’s selling, where you’re losing stock, and more.

Quickbooks Time Tracking

The QuickBooks Time app is one of the most popular employee time-tracking tools. It offers multiple ways for employees to clock in and out using devices they already have, such as smartphones, computer monitors, or a time-clock kiosk. It also features GPS location tracking for increased accountability and offers several payroll reporting options.

TSheets integrates with QuickBooks to sync time data, which makes it easy for managers to edit and approve employee time sheets. The system also provides visibility layers to ensure that workers do what they’re supposed to, such as a list of project-specific tasks or a chart comparing budgeted hours to actual work.

TSheets allow managers to view team members’ schedules and see real-time shift changes. Its drag-and-drop scheduling tool is useful for creating weekly programs and making last-minute changes. Its mobile app allows teams to track time for projects and customers and access their timesheets anytime.

Quickbooks Credit Card Processing

Managing, tracking, and paying bills is an essential part of running a small business. QuickBooks helps simplify the process by automatically importing and categorizing transactions from linked bank accounts and credit cards into the company’s Chart of Accounts. This is especially helpful for tracking monthly re-occurring payments such as a cell phone plan or an annual subscription to a software tool.

However, if you are not using a payment processor compatible with QuickBooks, it can take time to manually enter each transaction into the system and then code it correctly. This can be avoided with a payment processing integration. They connect you with a wide range of processors that offer a QuickBooks plugin or compatible gateway and can help you find the best rates to reduce your QuickBooks credit card processing fees.

Now that you know the many different ways that QuickBooks can support your business operations, why not give it a try if you haven’t already? You’ll be thankful you did.