Now is the time when you should move your accounting from spreadsheets to QuickBooks because it is completely viable and much easier with QuickBooks updates in place. This will not only give your business health a quick boost but, will make your accounts organized and clean too. For extreme business needs, excel is not a comprehensive accounting platform, we know that. Accounting processes like bookkeeping, payroll and taxation etc. can easily and effectively be managed on QuickBooks.
In QuickBooks, you can make multiple logins with restricted permissions to various professionals who are assigned a particular task. Each person can log in through a user id and can have access to limited files that they need to work upon. Rest of the data remains confidential if it needs to be. QuickBooks updates 2018 even allow importing the data from other sources.
Auto debits on one account and balancing the entry on the associated account by auto crediting is a regular feature on QuickBooks online. The business owners can create item fields to track the sale of products or services they are dealing in. Every item field can be connected to a chart of accounts where you can keep track of money. Whenever a transaction is booked, both the books; the one to maintain the transactions and the one to maintain the monetary accounts are updated automatically. Thus, each business activity can be very well tracked in the accounts books easily. That’s the benefit of QuickBooks updates 2018.
Similarly, all the payables, be it contractor fee, payment to the vendors or salaries, can be maintained and managed thoroughly, to every single payout. All this is so much faster in QBO than manually feeding numbers in spreadsheets. Business owners can even customize reports and save them for associates to see and act upon. There is absolutely no need to share Google sheets anymore.
An added feature on QuickBooks update 2018 is that QBO now lends the complete support if you wish to connect your checking account and credit card fee to your account files. This facilitates a huge reduction in data entry and automation of payment feeds. The transactions are automatically added to the register too. It is just that you have to create the rules to auto-categorize the payments and other transactions. Once you make the setting in the register to auto-accept the rules, every data entry becomes an auto data entry. Now, this is something you can never expect from spreadsheets.
So basically, all side of the business can be maintained on QuickBooks, owing to the latest updates and unlocked features. Be it personal accounts, payments and transactions or sales, orders, vendor payments, and profit measures. Sale receipts and invoices are a general feature which you can use all the time. Item-based transactions, products and service activities, quantity on hand, sales; nothing is unaccounted and in bad books.
This is how QuickBooks updates add a lot of value to your business and contribute to the constant growth of the enterprise.