The current era marks the advent of the normalization of digital tools in the process channels. Now, you have “n” numbers of tools and frameworks to simplify your operation complexities. And if we discuss the accounting world, we have Intuit-sponsored QuickBooks online. QB is one of the finest software that you can look into for your accounting requirements.
Meanwhile, you must know that the accounting tool comes in two versions. These involve:
- QuickBooks Desktop
- QuickBooks Online
Both of them have their respective characteristics. So, it will help if you can acquaint yourself with the details of these versions. Doing so will help you decide on the accounting tool. For this purpose, we are discussing the basics of the QB cloud version. Thus, you can read through the guide to experience something new.
What Is The Significance Of Intuit’s QuickBooks Online Version?
As we covered in the introductory section, the present era is all about the growth of digital technologies. And Intuit introduced the concept of online accounting to facilitate this growth. QB Online is good for taking care of your process channels to the online media. See, a large section of accounting operations rely on digital connectivity. And Intuit contributes to digital growth by doing so.
The digital version of the QB can help you in:
- Generating customers’ invoices
- Paying bills
- Generating reports
- And preparing tax statements
In essence, you can say that QuickBooks online can address your accounting requirements to a great degree. The best part about it is its free-trial facility that you can use for one month.
Facilities Of Intuit’s QuickBooks Online Accountant
Here is the facilities list of the QB online accounting tool.
Creation, Transfer And Tracking Of Invoices
By subscribing to a QB plan, you can create invoices. Moreover, it lets you share them digitally. Thus, you can record and trace payment deficits in your company books.
Furthermore, it supports multi-color and multi-font formats.
Tracking Of Bills And Expenses
The accounting tool allows you to track bills and expenses. It does so by connecting your bank and card accounts to QB. Hence, you can download and categorize the monthly expenditure properly.
Moreover, it automatically adds the recovered paychecks to the company books. This way, you can access updated records on the company books. Besides, it lets you clear your debts in a time-bound manner.
Online Payment Facility
In this era, online billing and digital payments are among the most loved features. It is because these facilities save your resources to a great extent. And you can access these facilities with the all-new QB online version. This version lets you handle multi-bill transactions via a direct transfer from the bank account.
You can pay bills via this facility in the following ways:
- First, submit your bank account information
- Afterwards, opt for a payment method
- Then, select the way your vendor wants the payment
- Now, the software will save this information
- Subsequently, it will process the payment
- Lastly, the software will separate paid bills from the list of outstanding bills
Additional Features You Can Get With QuickBooks Accountant Desktop
The online and the desktop version of QB can help you to use the following features:
Printing Of Financial Statements For Your Business
Managing the cash flow activities in QB can help you in printing filtered financial statements. These let you analyze your business performance to a great degree. Moreover, you can use these reports to seek loans or investments for your business expansion.
In general, the online version of the tool permits you to generate the following report categories:
- Profit and loss reports
- Balance sheet reports
- And Cash flow reports
Payroll Management
Payroll management is a vulnerable section for any organization. This is an area upon which the employee-employer relationship relies. Errors in employee payroll can cost your organization in significant terms. Hence, it is infeasible for you to go with errors in the payroll segment. Thus, you can go with QB Online as it offers a dedicated payroll feature to all. This can help you pay employee payrolls promptly.
Moreover, it maintains a balance between cash inflows and outflows. Thus, you need not worry about errors in the company books. In general, the payroll feature allows you to:
- Pay employees via cheque or direct deposit
- Automatically calculate state and federal payroll taxes
- Auto-generate filled payroll tax forms for your purpose
- Pay payroll taxes directly from the software itself
Summing Up The Context
Intuit’s QuickBooks Online is an amazing facility that you can choose to fulfil your accounting needs. The details of which you may have learnt very well with the guide discussed so far. Thus, we recommend you switch to this tool for all your accounting needs. Furthermore, you can seek our QB advisory to troubleshoot glitches arising within the software. For this, you only need to dial the toll-free number 1-844-734-9204
A mere conversation with our QB Pro Advisors can help you troubleshoot the issues. Moreover, it can enhance your experience with the accounting tool. Therefore, you must connect with our QB experts for software-related issues.
Frequently Asked Questions
What Is The Application Of QuickBooks Accountant Desktop?
The deployment of the QB accounting tool helps you in the following ways:
- Creation and transfer of invoices
- Management and tracking of unpaid bills
- Inventory management
- Tracking of project profitability
- Generation of financial reports, etc.
What Is The Difference Between QB Online And Desktop Version?
QB Online is a cloud-based software that you can access from anywhere. On the other hand, QB Desktop is an on-premise software. Thus, you can say that the online version supports the mobility of the accounting tool. And it finds its application comparatively higher than the desktop version.
Is There A Free Version Of QuickBooks?
No, QB has no free version. However, you can use this tool for free on a trial basis for 30 days.
How Do QuickBooks Differ From MS Excel?
QuickBooks differs from MS Excel because of its features. While MS Excel finds its significance as a spreadsheet program, QuickBooks is a bookkeeping management software.
Is It Difficult To Use QuickBooks For My Accounting Requirements?
No, QuickBooks is not a tricky software. Instead, it has an enriching user interface. It enhances the operational aspect of the accounting tool.
