5 Tips for Using QuickBooks for Your Online Business
QuickBooks is a powerful tool that can help you manage your finances and save time on bookkeeping. It’s what I use with all of my 1-on-1 bookkeeping clients and recommend it to most business owners who are looking for a way to manage their business finances better.
But like any tool, it takes a little bit of practice to get the most out of it. In this blog post, we'll share some tips and tricks for getting the most out of QuickBooks.
1. Get organized before you get started.
Gather all of your financial documents—bills, invoices, bank statements, etc.—and create a system for organizing them. This will make it much easier to input data into QuickBooks and will save you time in the long run.
2. Input data regularly.
The more up-to-date your QuickBooks data is, the more accurate your financial reports will be. Set aside some time each week to input data into QuickBooks, or hire a bookkeeper to do it for you.
3. Use shortcuts whenever possible.
QuickBooks has many built-in shortcuts that can save you time when entering data. For example, if you're entering an invoice from a regular customer, you can create a template for that customer so that all you have to do is input the relevant information (invoice number, date, amount due, etc.). To access shortcuts in QuickBooks Online, just click on the "?" icon in the upper-right corner of the screen.
4. Utilize reports.
Reports are one of the most powerful features of QuickBooks—they can help you track your progress, spot trends, and make better decisions for your business. I love comparing trends month-to-month and year-to-year with my clients so we can see the progress we’re making.
Take some time to explore the different types of reports available in QuickBooks, and customize them to meet your specific needs.
5. Keep learning.
QuickBooks is constantly adding new features and functionality. To make sure you're taking advantage of everything QuickBooks has to offer, sign up for a webinar or take an online course on using QuickBooks effectively.
QuickBooks is a powerful tool that can save you time and money—but only if you use it correctly! By following these tips and tricks, you'll be well on your way to getting the most out of QuickBooks for your business.
Not quite ready to take the leap into hiring a bookkeeper for your business, but you don’t know how to do it all yourself? Become your own CFO with the Confident CFO membership!