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QuickBooks Online – Best Accounting Software for Small Business

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Intuit the developer of QuickBooks, also offers the cloud service called QuickBooks Online (QBO). In which the user pays a monthly subscription fee rather than an upfront fee and can access the software exclusively through the secure login via a Web browser. Intuit provides patches and regularly upgrades the software automatically. As of May 2014, QuickBooks Online has the most subscribers for online accounting platform, with 6,24,000 subscribers compared to Xero which reported 2,84,000 customers as of July 2014. The cloud version is a separate product from the desktop version of QuickBooks, and also has many features that work differently than they do in desktop versions.

QuickBooks Online
QuickBooks Online

QuickBooks Online enables the third parties to create small business applications and gives the customers the ability to customize the online version of QuickBooks. QuickBooks Online is supported on Firefox, Chrome, Internet Explorer 10, Safari 6.1, and also accessible through Chrome on Android and Safari on iOS 7. One may also access QuickBooks Online through iPhone, Android web app, and BlackBerry. 

In 2011, Intuit has introduced the UK-specific version of QuickBooks Online to address a specific VAT and European tax system. There are also versions customized for the Indian, Canadian, and Australian markets, and also a global version that can be customized by the user.

QuickBooks Online App also provides an integration with other third-party software and financial services, including payroll companies, banks, and expense management software.

Related: What is QuickBooks?

Features of QuickBooks Online

Track income & expenses

QuickBooks Online
QuickBooks Online

You can easily track where your money is going, Securely import transactions from your bank, PayPal, credit cards, Square and more. Automatically sort transactions into tax categories. You can even snap photos of your receipts and link them to the expenses right from your smartphone.

Capture & organize receipts

QuickBooks Online
QuickBooks Online

You can use your phone to snap and save the photos of receipts and then easily sort and link expense receipts to transactions. Stay organized and ready for tax season with everything in one place.

Related: QuickBooks Tutorial

Maximize tax deductions

QuickBooks Online
QuickBooks Online

You can share your books with your accountant or export important documents come tax time. Easily organize income and expenses into tax categories automatically sort business expenses into the right dedication categories, so that you can keep more of what you can earn. You can find an average of up to $7,393 in potential mileage deductions per year by using your phone’s GPS to automatically track miles.

Related: What is QuickBooks?

Invoice & accept payments

QuickBooks online accountant increases the reception of payment by providing professional options. It accepts all credit cards and free bank transfers, right in the invoice. You can Track invoice status, match payments to invoices, and send payment reminders, automatically. You can create professional custom invoices with your logo that you can send from any device.

QuickBooks Online
QuickBooks Online

You can accept payment right on the online invoice. It lets the customers pay by credit card, free ACH bank transfer, Apple Pay, or over the phone. You can send smart invoices that customers can pay anywhere, anytime, plus track and manage multiple currencies.

Run advanced reports

QuickBooks Online
QuickBooks Online

QuickBooks online login UK allows you to run more powerful and customizable reporting. You can get all the functionality of QuickBooks basic reporting. You can run specific budgeting inventory, and class reports. You can create customized reports to get important insights specific to your business. with this, you can easily understand how business is doing through your dashboard, profit and loss, and balance sheet. It also accepts mobile signatures and enables you to see the estimate status instantly. You can take photos of receipts, contracts, and other important information you want to be attached to a job.

Track sales & sales tax

QuickBooks Online
QuickBooks Online

You can keep sales in sync no matter how you get paid. QuickBooks Software accepts credit cards anywhere with your mobile card reader or sync with popular applications. You can connect to the e-commerce tools you want including Shopify. QuickBooks Online calculate taxes on your invoices automatically. You can accept credit cards anywhere with your mobile card reader and 1 Plus, record cash and check payments. You can personalize receipts by adding your logo, social media links and messaging.

Manage bills

QuickBooks Online
QuickBooks Online

QuickBooks Online allows you to track the status of your bills, record payments and create recurring payments, You can Pay multiple vendors and bills at the same time. You can create checks from anywhere and print when ready. Easily record and track bills you have paid by check or direct deposit.

Multiple users (5+)

QuickBooks Online
QuickBooks Online

It lets you invite your accountant to access your books, which provides you with seamless collaboration. It gives employees specific access to features and reduces errors with auto-syncing. You can also protect sensitive data with the user-access levels and share reports without sharing a log-in. You can do this by creating custom access to QuickBooks Software for sales reps, office managers and other types of employees and partners.

Related: Quickbooks Login

Track time

QuickBooks Online
QuickBooks Online

It lets you track billable hours by client or employee and automatically add them to invoices. You can enter hours yourself or give employees protected access to enter their own time. You can track and submit a time from any location, using any device, all in real time. You can eliminate manual entry and can track billable time for faster invoicing and payroll.

Track projects

QuickBooks Online
QuickBooks Online

You can track projects and see how much you are making on every individual project. Track all time expenses on your projects and view outstanding payments and unbilled work. Manage your work by keeping all the project-related information in a single place. You can connect expenses, invoices, and transaction to each specific project. It lets you manage your workload by view all open projects to easily understand where you are spending your time.

Related: QuickBooks Tutorial

Track inventory

QuickBooks Online
QuickBooks Online

QuickBooks Online lets you track the cost of goods, products, and receive notifications when inventory is low. You can see what is popular, create purchase orders, and manage vendors. You can import from Excel or even synch with Amazon, Etsy, Shopify, and more. The inventory quantity is adjusted automatically as you work so that you can always know when to reorder.

Manage 1099 contractors

QuickBooks Online
QuickBooks Online

Read more about How to Sign in QuickBooks?

Assign vendor payments to 1099 categories, You can see who you have paid, When and what you have paid. You can prepare and file 1099s right from QuickBooks Software. When you pay the contractor or vendor for equipment rental, you can track it as a separate expense.

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