Invoicing is one of the most crucial functions for many businesses, especially those that provide services or rely on freelancers. QuickBooks makes it easy to create invoices either from scratch or from an earlier estimate. You can even set up an invoice for recurring payments.
You can then share the invoice with clients through the mail or take a printout and send a hard copy. It allows you to run and view reports easily like the number of outstanding invoices, total amount due from clients and details of each invoice (paid or due).
Bills & Expenses Tracking
While setting up QuickBooks, you can connect your bank as well as credit card accounts to the software. Once done, QuickBooks tracks your bills and expenses automatically.
However, automatic bill tracking does not mean you cannot do that manually. You can directly record a manual transaction easily, whether in cash or check.
Again, QuickBooks has many reports available to analyze your bills and expenses. If you have a record of bills available, you can track upcoming payments easily to ensure timely payments of bills.
Employee Time and Expense Tracking
With QuickBooks, it is very simple to track time as well as billable expenses incurred by employees or subcontractors. They can either enter it themselves using the QuickBooks mobile app or submit it manually and a bookkeeper on your end can enter the details in the app.
As a business owner, you know how important it is to manage a regular positive cash flow. QuickBooks Payments makes it easier for you to accept online payments when you send invoices from within the app.
If you operate in multiple international locations QuickBooks allows you to accept payment in local currencies. Of course, it is safer to first check if QuickBooks accepts payment in the currency you deal with. All transactions are recorded automatically as they occur.
Payroll processing is an important function for any business. The payroll add-on calculates payroll automatically as often as you want. Three plans give your business the scalability to grow over time and add features as necessary. The Core plan offers everything a small to midsized business would need to get started, while Premium and Elite plans enable options such as same-day direct deposit and expert assistance with setup.