Run QuickBooks For Small Business & Simplify Your Finances

QuickBooks for small business is one of the most popular cloud-based accounting solutions designed for entrepreneurs and growing companies. With QuickBooks Online for small business, you can manage income, expenses, payroll, and inventory from any device, anytime.

This powerful QuickBooks accounting software for small business allows teams to collaborate in real-time, and connect with third-party apps. Also, it helps to generate financial reports that support smarter business decisions.

In this guide covers everything regarding the benefits and pricing of Intuit QuickBooks accounting software and QuickBooks payroll for small businesses.

Want to get stepwise instructions to use QuickBooks for small business and need immediate help? +1-866-408-0544 and talk to our QB professionals for better assistance.

Features You Can Access With QuickBooks Online For Small Business

You can use the following features by accessing QuickBooks for small businesses.

1. Auto-Track Business Income & Expenses

Intuit QuickBooks software for small business automatically categorizes transactions and syncs bank feeds. This reduces manual bookkeeping and improves accuracy.

2. Manage Inventory in real-time

QuickBooks software for small businesses automates inventory management tasks so that you can easily track your inventory. Also, it gives low stock alerts in real-time to ensure that you restock the goods in a timely manner. You can also integrate your QuickBooks account with eCommerce platforms like Shopify, eBay, BigCommerce, etc., to stay updated with small business orders.

3. Connect with your business apps

Every business has its own requirements. Considering this, QuickBooks Online lets you integrate with other eCommerce platforms, time tracking, inventory management, and payment processing. Connecting with these apps will help enhance your accounting experience with the QBO software.

4. Get Live Expert Assisted

The Live Expert Assisted in QuickBooks Online lets you connect with highly certified QuickBooks bookkeepers. Once you get in touch with them, they will offer you proper guidance and answer questions. Also, you will get proper step-by-step instructions to run QuickBooks and accomplish your daily business tasks.

5. Use the Payroll Services

QuickBooks for small businesses with payroll software streamlines the complex payroll tasks of the company. It also helps in tracking employees’ time, managing HR tasks, and providing team benefits. Moreover, it reduces the manual entry tasks, which enhances the accuracy and helps manage timesheets easily.

How Does QuickBooks Work For Small Businesses?

QuickBooks Small Business is a cloud-based software that uses high-grade security features to keep your financial data safe. You can get anytime access to the financial statements anywhere, anytime, to make the right business decisions. The great thing is that it’s a user-friendly software that automates complex financial tasks like invoicing, bookkeeping, and inventory tracking, and reduces manual data entry errors.

Above all, this accounting software can be accessed through different devices, including smartphones, tablets, laptops, etc. Moreover, it’s easy to set up Intuit QuickBooks Online accounting software by simply logging in and then continuing your ongoing business tasks.

How to use QuickBooks for small business?

To use QuickBooks for a small business, you are required to perform the following steps.

1. Set up your company profile

To set up your company file, move to Settings and click the Account and Settings tab. Then, you can add details regarding your business and enable the features beneficial for your business. Also, you can adjust company details, billing details, product language, and sales forms.

2. Link Your Bank or Credit Card Account

Next, connect your bank or credit card account to QBO, and you can easily download the latest bank transactions. Perform these steps to link the account.

• Use this link to complete the steps in product.
• Click the Link Account, and if connecting for the first time, choose the Connect Account.
• Now, pick your bank name and log in to your account.

3. Import your data

You can import the previous lists from another QuickBooks company or software into your QuickBooks Online file. Also, you can add new customers, suppliers, products, and services.

4. Set Up Sales Tax

The next step is to add sales tax to your invoices and receipts to track how much you owe. Here are the steps to set up sales tax.

• Use this link to complete the steps in the product.
• Go to Set up Sales tax and choose a province/territory.
• Tap on Save > Start of tax period and select the Filing frequency.
• Pick the suitable Reporting method and provide the registration number or GST/HST number.
• Now, click Next and use the prompts to complete the setup.

5. Enable & Receive Payments

QuickBooks Payments is an optional subscription feature through which customers can pay online via trusted payment methods. Also, you can turn on payments from the QuickBooks Online dashboard, the Sales Overview page, or while generating an invoice.

6. Turn on payroll & Add Employee

To turn on payroll, move to the Settings > Subscriptions and Billings. Then, pick the subscription level that is suitable for you and complete the necessary details to run the first payroll.

You can also add employee data in QBO,

• Use this link to complete the steps in the product.
• Choose the Add an employee and fill in the form.
• Tap on the Save option and repeat the steps until you have added all your employees.

7. Customize and Send Invoices

To customize your invoice template,

• For customizing the look of your invoice, click the ” Manage icon.
• Now, hit the Design drop-down arrow and choose to edit an existing template or create one.

8. Add & Manage Users

In QuickBooks Online, you can add different user types, including primary admin, company admin, standard all access, track time only, and view company reports.

9. Run & Customize Reports

QuickBooks enables you to access the financial reports, which help you get clear insight into the company’s finances. By using the Reports tab, you can run financial reports or use filters to customize reports and concentrate on specific details.

QuickBooks payroll for small business: An Overview

The QuickBooks Payroll helps small businesses in automating payroll, tax filing, saving time, and minimizing manual errors. Moreover, the payroll feature is also beneficial for small businesses in numerous ways, including:

1. Automates Complex Tasks-

The QuickBooks Online Payroll automates paychecks, payroll tax calculations, and filings. Moreover, it also eliminates the effort of manually handling admin tasks.

2. Time Tracking Integration-

Moreover, it also lets you connect with QuickBooks Time to track employee hours, cut payroll costs, and enhance accuracy.

3. Tax Compliance & Protection-

QuickBooks for small businesses with payroll allows you to file federal and state taxes automatically. Moreover, it also protects you from paying heavy tax penalties for wrong or late filing of taxes.

4. Employee Self-Service-

This payroll software also offers employees online access to pay stubs and W-2s through the Workforce app.

5. Enhanced Features-

Above all, it also provides its users with the direct deposit feature, including same-day pay. Also, it comprises HR support for hiring and compliance.

How much does QuickBooks cost for a small business?

You must check out the table to learn more about the QuickBooks cost/pricing for small businesses.

Note: The QuickBooks Support and App Integration feature is included in all the features of QuickBooks software for the small business.

Final Thoughts

QuickBooks for small business not only simplifies complex finances but also helps in inventory tracking, processing payroll, and in reducing tax burden. Moreover, it also give clear insight regarding company’s financial wealth to take informed business decision.

If you are still struggling while using this software, then connect with our QBookassist professionals for help.

Frequently Asked Questions (FAQ’s):-

Question 1: How do I manage multiple businesses with one login?

Ans. You can manage multiple businesses with one login using QuickBooks multi-files feature. Then, you can run multiple accounts using one login password and at an affordable rate.

Question 2: What types of businesses use QuickBooks Payroll?

Ans. The QuickBooks Online Payroll software is best fit for the small to mid-size businesses. Also, it is the best choice for accountants and financial experts to the hospitality companies, construction companies and truckers.

Question 3: Is QuickBooks worth it for a very small business?

Ans. The QuickBooks Online is the perfect choice for the small businesses, especially for the businesses who are growing and want to monitor expenses or require accountant ready financial reports. But, it isn’t great choice for the very low-volume soloprenuers.

Question 4: Is there a free version of QuickBooks?

Ans. Yes, QuickBooks provides 30 days of a free trial to all its new users. However, to generate a new trial, you must generate a QuickBooks account via pricing page.

Question 5: Is time tracking included with QuickBooks Payroll?

Ans. Yes, the time tracking feature is included with QuickBooks Online Payroll Premium and Elite versions.

Question 6: Do Accountants get QuickBooks for free?

Ans. Yes, the QuickBooks Online Accountant version is absolutely free for accounting experts to handle their practice and clients.