Many small and large marketing firms have a staff of accountants working with applications such as Excel for documenting and managing finances. This always creates the risk of unexpected errors, not to mention that working in Excel to complete accounting tasks is often a real challenge! QuickBooks is software designed to make bookkeeping easier and more efficient in managing your organization’s finances.
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What does QuickBooks have to offer?
With the help of this service, marketing companies can organize work with accounts and cost management, optimize accounting and payroll for employees. Accountants and managers can work with the company’s finances in the web version of the service or in the mobile application.
Most of the functions for business operation are available to users: invoicing, cost control and reporting. In online accounting, companies can create custom invoices, send them to customers, remind them of payment, and set up automatic invoice generation. The expenses and income of any company are formed based on paid invoices, you can connect a bank account to QuickBooks to track transactions and receive detailed reports. It also allows you to automatically pay taxes. In addition, if you are making a presentation to provide financial information about your organization, all the necessary data about your company will always be at hand in one place.
Who is QuickBooks for?
As mentioned earlier, QuickBooks is loaded with essential features that help marketing organizations succeed in their day-to-day financial tasks, including those related to keeping records of marketing expenses. These features are powerful and can work well for both small and medium businesses. Thus, there are no limits on the size of your organization when it comes to using this software. In fact, even people running their own small businesses can benefit greatly from using this service.
Manage revenue, sales, and marketing spends
Organization and management are the primary goals achieved when creating the QuickBooks software. This is because any business depends on the income, sales, and marketing it needs to survive. For this reason, the management of revenue, sales and marketing spends must be as optimal as possible.
To achieve this task allows the wide functionality of this service. By creating invoices, the user can view a report on the status of their receivables. This gives the user the ability to view the balance of their receivables, making the whole process more efficient.
Tracks your bills and expenses
If you want to keep track of bills and expenses in your business, with this software you can easily control the leakage of finances from your business by connecting bank accounts and credit cards.
As a result, it becomes easier not only to keep track of your expenses, but also to categorize and download all the composite data. With this capability, you will be able to keep track of your cash as well as verify your transactions.
Customer, partner, and employee management
QuickBooks pretty much provides all the features to help you streamline your accounting tasks. You will be able to add detailed information about all your customers, including payment information to create invoices. In addition, you can add financial information for your partners.
Support for many financial accounting applications
If you’re already using accounting software, chances are you’ll be able to connect and sync your data using QuickBooks Online. The list of supported applications includes PayPal, Float, Salesforce, Gusto, ConvergeHub, GetMyTime, iBE.net, SellerActive, eFile4Biz, BizSlate, AmericanExpress, bilSync, Red Team, LivePlan, Fundera and many more.
Cash flow management
This service will help you manage the cash flows that come in and out of your business. In addition, QuickBooks allows you to access any financial business reports for reference. With such detailed information, it is easy to develop a strategy for the best cash flow management.
In addition, it is easier to run cash flow statements in this software, which are also updated in real-time. As a bonus, QuickBooks also allows you to create three different reports that you can use to determine the position of your business:
With this information, you can develop a more effective strategy for scaling your marketing business. And knowing the scale of your business, you will know what you can bet on to increase profits.
Payment statement
The payroll function included with the software will help you manage your various accounts efficiently. With this feature, owners of marketing firms that have employees can easily manage their accounts properly when calculating payroll.
The payroll feature helps the business owner manage your employees’ taxes as well as keep their accounts up to date. In addition, you can also use this function to calculate the following aspects:
- Wage
- Bonuses
- Any taxes withheld
Inventory Tracking
Like cash flow, keeping track of inventory is another important part of running your business. The inventory tracking feature is efficient and accurate enough to help you manage all your marketing revenue. This feature will also help you understand whether you are making money or losing money on each of your organization’s services.
QuickBooks Online
QuickBooks Online is efficient cloud-based accounting software that you can use for all your marketing organization’s accounting needs. It has unique web interface features such as remote access, remote control, payroll assistance, electronic payments, and other online banking functions, as well as the ability to connect to a wide range of accounting applications.
Online payment options
The world is becoming more digitized every day, people are no longer dependent on conventional payments, and this is what has made e-commerce a multi-billion-dollar industry.
QuickBooks takes the same concept and offers users the ability to set up online payment options for their business. As a user, you can add Intuit payment features to your business for secure digital transactions. If customers can buy and pay for their products from anywhere, it can increase your conversions and revenue. This feature saves you time and reduces the likelihood that you will have to deal with any documents.
Conclusion
In conclusion, QuickBooks is a proven financial management software that can take your marketing business to the next level. It has a huge number of useful features to simplify and facilitate the accounting work of any marketing organization. In addition, this software replaces many other services, which also significantly saves your time, simplifies, and shortens the process of staff training, and reduces the number of errors at each stage of financial accounting. Even though this service is not free, it allows you to greatly optimize your company’s finances and increase profits, which compensates for the cost of acquiring it.