To access QuickBooks on your system, there are two ways: QuickBooks Online, which is easy to access from anywhere by browser through the internet and QuickBooks Desktop, which requires an application on your system. Those two software are enough to manage Small to large-sized businesses. We know that two software programs are the best accounting software designed by Intuit, but now AI has been added to QuickBooks to make business accounting easier.
So in this blog, we will trying to know how to use QuickBooks AI for managing your business accounting in detail.
What is QuickBooks?
QuickBooks is a powerful accounting software used to manage all financial work in small and large companies to manage their work properly without any problem. Its cloud-based tools automate their respective tasks, such as expense tracking, automate invoicing and managing payroll. If you think of switching from manual accounting to automated accounting then QuickBooks is the best option for you.
QuickBooks Online
It is used for small to medium-sized Companies. You can run it on any device with an internet connection through the browser. It gives the accessibility of managing your finances remotely. Its auto update and cloud backup features give more benefits to the users.
QuickBooks Desktop
It is a business accounting software that you need to install on your system through an internet connection to access. It is especially developed for mid to large-sized businesses. QuickBooks Desktop is highly customizable with advanced features that offer its three versions, such as.
What Does QuickBooks AI Do?
QuickBooks is a Software designed by Intuit. QuickBooks AI is a new feature of QuickBooks, so as a new generation, you need to know what QuickBooks AI do for your business accounting.
- Automated Data Entry & Categorization
- Smart Bank Reconciliation
- Predictive Financial Insights
- Tax Calculation & Filing Support
- Personalized Financial Reports
- Invoice & Payment Automation
- Customer Support via Chatbots
- Client Communication & Automation
How to use QuickBooks AI?
QuickBooks is a Software designed by Intuit, where QB AI is an addable feature that is used to make financial work easy through the intelligence of the AI. Now the question is, how to use QuickBooks AI features in our daily work? which is mentioned below.
Enable QuickBooks AI Option
To access AI features in QuickBooks, you need to log in QuickBooks Account and turn on the AI features that are shown in the Dashboard. Now you need to enter your basic information about your business for the AI analysis. After that, AI creates customized dashboards by analyzing your business data, in which insights and best advice will be shown on the QuickBooks Online dashboard.
Connect Bank Account with QuickBooks Online
Now, you need to connect your bank account. The QuickBooks AI integrates your bank accounts with other third-party services for dual transactions. Also categorizes your transactions by collecting and analyzing them automatically. Also, you can edit the category manually in case if you find any wrong category selection.
What are the Features of QuickBooks AI?
QuickBooks AI has an addable feature that is used to make financial work easy through the intelligence of the QB AI. There are many features used to simplify business account management. Let’s discuss its features.
Auto Invoicing
QuickBooks AI also automatically sends invoices on time. For that, you just have to enter the customer data and AI suggests some invoice templates and recommends the due dates and payment options. AI also automatically sends the reminder in case the invoice is overdue.
Auto-Categorized
You can manage your business expenses with the help of QuickBooks AI. It auto-categorizes features, properly manages your expenses by scanning your receipts and bills.
Payroll Automation
If you are talking about payroll then yes, QuickBooks AI also helps you with Payroll automation. Payroll is a time-consuming and complex process and the AI made it easy. It automatically calculates Workers’ working hours, taxes, deductions or bonuses and generates a salary slip.
Automatic Report Creation
AI also generates the business profit and loss report by analyzing the business cash flow and provides the forecasting data of sales and demand. By that process, a business owner understands where they invest money and where they manage their business expenses.
Fund Detection
In QuickBooks AI, there was a fund detection feature. It detects suspicious transactions and unexpected transfers and sends a security alert. After that, QB AI encrypts the data for security reasons and ensures that your financial information is safe.
Key Benefits of Using QuickBooks AI
There are many benefits are occur if someone uses AI. It means they need help from AI to make their work easier by using AI features. Like that, QB AI has many features that a business owner needs to use for their benefit. Let’s discuss the benefits get by using QuickBooks AI features.
- Time-Saving
- Error Reduction
- Quick Payments
- Better Understanding
- Scalability
Conclusion
Now, you can understand how to use QuickBooks AI, its features and its benefits. AI is a modern technology that is easily available in intuit QuickBooks to make accounting easy and automate your repetitive tasks. AI only provides its suggestions, but you can control all your accounting manually as per your decision. If you want to manage your business accounting in an organized way, then the QB AI is the perfect solution for you. If you have any issues using QB AI then contact the QuickBooks experts for an instant solution.