Learning to use QuickBooks by:Cirila A. Diaz

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Learning to use QuickBooks Why QuickBooks is an excellent Accounting software for small Businesses

? by: Cirila A. Diaz

With the right training on how to use QuickBooks, you can customize the program to work for your company just the way you need it to. QuickBooks is a program that can be customized to perform complicated tasks like sales tax for example: a) if some of your customers are taxable while others are not, b) if your customers have different sales tax rates depending on where they live, c) if some of your items for sales are taxable while others are not, and d) if your sales tax is paid to different agencies, QuickBooks would handle everything for you. Once the sales tax codes are set up and assigned to the items and the sales tax codes, sales tax items or sales tax groups are set up and assigned to the customers, the program would work automatically for you. All you would have to do at the end of the sales tax period, when taxes are due, is to print the correct report that provides you with the exact information needed to fill out the forms and make the correct payments to the respective agencies.

QuickBooks has different levels editions to accommodate your business needs. QuickBooks price is next to nothing compared to other accounting software considering the capability that the program has for small businesses. Of course, you need to have the right training in order to be able to set it up correctly.

Any companys CEO, manager or any one who is serious about using QuickBooks for their business or perhaps finding a job that requires QuickBooks knowledge, needs to acquire the right training or have someone with all the training and knowledge to set up QuickBooks properly. With the right determination and with enough patience you would be on your way of putting behind all of your frustrations and regrets.

QuickBooks Financial offers features that provide you with fast access to all kind of information about your customers, vendors, and employees. QuickBooks provides you with any kind of report about your customer current status that you can think of. If it is not already pre-set you can modify any report to make it to be as you want and then memorize it so you can have access to it anytime you need to. A memorized report is updated with the current information every time you select it. It is not like saving it so it would stay the same.

QuickBooks allows you to keep track of your employees or subcontractors time spent on each job. This allows you to pay employees, subcontractors, and invoice customers. Therefore, you can also have access to the most current information on how time was spent on any job.

The following are the different levels in QuickBooks.

1. QuickBooks Simple Start Offers the simplest way for small businesses to manage sales, expenses, and customers.

2. QuickBooks Pro and Premier Is for users who have fewer than 20 employees, and annual sales of less the $1 million.

3. QuickBooks Enterprise Solutions Offers the most comprehensive set of features of any QuickBooks Financial Software product. It contains all the features of QuickBooks Pro and Premier Editions plus it includes the features such as Fixed Asset manager and Financial Statement Designer. It is for users with greater number of employees (20-250) and higher revenues (greater than $1 million).

4. QuickBooks Online Offers the access of companys data from multiple locations, up to 20 simultaneous users allowing time entry from the field. However; it doesnt create purchase orders or sales orders, or track perpetual inventory or job types and it doesnt maintain a multi-user network or integrate data with Microsoft Word.

Each Edition in QuickBooks includes the same basic features and all share a common look. So if you decide to move to a higher level, you dont have to relearn the program.

Five reasons why learning to use QuickBooks and learning about all the great benefits that the program can provide for your business is so important:

1. Knowing how to create the right type of Item and knowing the different kinds of Items in QuickBooks is very important because Items handle the accounting for sales (including services) and purchases behind the scenes allowing you to track inventory quantities purchased and sold. There are also other kinds of items like Payroll Items, Fixed Assets Items, etc. that are very important and need to be set up correctly in order to work for you.

2. Knowing how to set up and work with your chart of accounts would

Provide you with the correct Financial Statement Reports at the end of each accounting period.

3. Knowing how to set up and enter payroll and employees information.

4. Learning how to work with different QuickBooks lists, how to move around QuickBooks, and knowing how to modify reports.

5. Knowing how to customize QuickBooks in order to perform the different accounting difficult tasks that the program can do for you in order for you to run your business in the right direction and be able to focus on the other part of your business.

QuickBooks Financial comes together with other services such as Payroll, Accepting Credit cards, supplies sales such as checks, W-2s, 1099s, etc.

There are 4 different levels of Payroll in QuickBooks:

1. Standard Payroll Very basic/Do it yourself. QuickBooks provides Federal Tax tables and payroll forms with annual subscription.

2. Enhanced Payroll - More involved/Do it yourself. QuickBooks provides Federal and State Tax tables and forms, and the ability for Workers compensation needs, job costing, and net-to-gross bonuses calculations with annual subscription.

3. Assisted Payroll QuickBooks does all the processing for you including the Federal and States quarterly filling. Support the need for Workers compensation, job costing, and net-to-gross bonuses calculations. All for a monthly fee plus a set up fee based on how many employees and how many reports to file. It also posts all the payroll information to your companys data.

4. Complete Payroll QuickBooks does it all for you including paychecks printed and delivered. It is the only service that does not required using QuickBooks software. All for a monthly fee plus a set up fee based on how many employees and how many reports to file.

QuickBooks also provides Accepting Credit Cards for a monthly fee. It provides the Merchant account and any equipment necessary to process payments. The program is also setup for Online Banking.

In my experience and in my own opinion, QuickBooks is a great accounting program. Using QuickBooks for your business can alleviate a lot of frustrations and give you the peace of mind that you have been looking for so you can concentrate on the other parts of your business.

For more information on Learning to use QuickBooks, please take a look at our Website

http://www.learningtousequickbooks.com

About the author

Cirila Diaz - Professional Bookkeeper and very fond of QuickBooks. Visit us at http://www.learningtousequickbooks.com and find out more information on Learning to use QuickBooks!

2008 - 2009 Copyright Cirila A Diaz

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