5 ways QuickBooks Online can make life as an entrepreneur less stressful
Still running your books from a spreadsheet? It’s probably time to invest in some accounting software for your small business. Switching to a new system can seem overwhelming, but we can help!
Keep reading for information on our next QuickBooks Online Bootcamp for Business, and consider how working in a real time accounting system could make a world of difference for your business (and your stress levels).
What can QuickBooks do for your small business?
Collect from customers faster.
Accounting software like QuickBooks allows you to track exactly what customers owe you in real time. In easy-to-read dashboards, you can see which invoices are outstanding and how long they’ve been due. QuickBooks also keeps contact information for your customers handy, so you can call or e-mail them to check the status of any open receivable.
Stay on top of your bills (and avoid late fees).
With QuickBooks Online, you can easily enter bills as you get them. You can also enter the due date and be reminded to send payment before late fees are assessed.
Make tax time less stressful.
Preparing taxes for your business does not have to be a time-consuming struggle every year. By setting up your chart of accounts appropriately and recording transactions in real time, you can simply run a report with the click of a mouse to see all the information needed to fill out your business tax return.
Make better decisions using your financials
Is it time to hire someone? What product or service needs some attention? Running a business without financial data can feel like flying an airplane blindfolded. With QuickBooks Online you have the gauges at your fingertips so you know when adjustments are needed. Having all your financial information helps you build a reliable roadmap to get you where you want to go, and compare your actual results to goals so you know if you’re still on the path toward success. Need more examples? Here is a helpful article with 6 situations where knowing your numbers can make a big business decision easier.
Apply for a loan with confidence.
When the time comes to expand the business, you’ll probably need some outside capital to fund the growth. With QuickBooks Online you can run all the standard financial reports needed to apply for a loan, and you can be confident asking for the correct amount based on projections. Impress your lender with your knowledge of the business and your clear vision for growth.
Want to learn how to use QuickBooks Online for your business?
Pathway WBC offers regular QuickBooks Online Bootcamps. This two-hour workshop is a crash course on entering and paying bills, entering and managing loans, reconciling bank and credit card statements, entering data from merchant service payment processors, and how to utilize basic reporting features.
Your next chance to take QuickBooks Bootcamp for Business is Wednesday, September 5 at Pathway WBC:
Registration closes on Friday, August 31, so register today! This workshop is FREE for Pathway Lending loan clients and WBC members, and is available in-person or virtually.