What is QuickBooks
Bookkeeping?
QuickBooks from Intuit is a small business accounting solution that allows you keep track of your business finances. It is the most popular Bookkeeping and accounting software that has been around since 1998 and offers a lot of benefits for small business Bookkeeping. Over the years, it has become a standard for Bookkeeping software. It has been developed and marketed by Intuit. Currently, QuickBooks has a market share of 55.72% with more than 21738 companies using this software. QuickBooks supports the various Bookkeeping tasks including bank reconciliations, accounts payable, accounts receivable, inventory management, payroll processing and financial reporting. QuickBooks is available as Desktop software that you can download and install on your computer. Or, as an online service where you access QuickBooks Online (QBO) as a website.
What QuickBooks Bookkeeping Services do we provide?
Financial Reporting
You have entered and reconciled all the data in QuickBooks. But, how do you report on all that data? How well is your business doing? Using QuickBooks, we can generate detailed reports in Excel or PDF format. Reports may include profit and loss, balance sheet, bank reconciliations, AP aging, AR aging, unpaid vendor bills, etc. What if that’s not enough? We can work with you to build custom reports you may need. We can send you these reports as often as you need them — on a monthly, weekly or daily basis.
Payroll Processing
How would your employees feel if they were not paid on time? We can manage payroll using QuickBooks and/or an external third party providers like ADP. Employees and contractors send us their timesheets via email or, we download them from a website. Using this data, we enter their time into QuickBooks. When it is time to run payroll, we can generate paychecks and send them to you for approval. Once you approve, we will process the paychecks by creating checks and/or direct deposits. We will email paystubs to employees. We will also deposit the payroll taxes to the appropriate state and federal agencies.
Accounts Payable or Billing Management
How do you keep track of bills you receive from vendors? Who pays them? When do you pay them? We can enter all the bills you receive from vendors into QuickBooks. We can also receive bills directly from vendors via email or fax, or login into vendor websites to download the bills. On a weekly basis, we will send you a report of all vendor bills that have to be paid. This report will list all outstanding vendor bills, amounts due, dates due and how long they have been outstanding. You mark the ones to pay and we use online bill-pay to pay the bills. Or, you can pay the bills yourself. If you do write a check or make a credit card payment to a vendor, we will be able to see those payments from your bank and/or credit card websites. We can easily make the appropriate entries against the appropriate vendor bill without your involvement.
Bank Reconciliations
Do you hate keeping bank and credit card records? We can enter all transactions from your bank and credit card statements. We can also reconcile bank, credit-card and merchant-service accounts for you. This will ensure that your QuickBooks balances match your actual bank account balances. You just email and/or fax the statements to us. You can also authorize us to log-in to your bank account in a “read-only” mode and retrieve statements. Our Quickbooks Bookkeeper will enter & reconcile the information into QuickBooks and send you all the reports you need. We can reconcile the accounts as often as you need — on a daily basis, weekly basis or monthly basis.
Accounts Payable or Billing Management
How do you keep track of bills you receive from vendors? Who pays them? When do you pay them? We can enter all the bills you receive from vendors into QuickBooks. We can also receive bills directly from vendors via email or fax, or login into vendor websites to download the bills. On a weekly basis, we will send you a report of all vendor bills that have to be paid. This report will list all outstanding vendor bills, amounts due, dates due and how long they have been outstanding. You mark the ones to pay and we use online bill-pay to pay the bills. Or, you can pay the bills yourself. If you do write a check or make a credit card payment to a vendor, we will be able to see those payments from your bank and/or credit card websites. We can easily make the appropriate entries against the appropriate vendor bill without your involvement.
Sales Tax Filings and Payments
Many states have requirements to file and pay sales taxes on a periodic basis. Since we keep track of all your invoices within QuickBooks, we can easily calculate the sales tax liabilities. We can use this information to file and pay sales taxes on a periodic basis with the appropriate sales tax agencies.
Why is everyone moving to QuickBooks?
Are you still using spreadsheets to keep track of your books? Think again! QuickBooks software has the lion’s share of the marker for small businesses. Even larger companies have started moving to QuickBooks. Why is everyone moving to QuickBooks? What are some QuickBooks Bookkeeping benefits? Below are some of the tasks that you can accomplish very easily with QuickBooks. Know how much you make Know how much you are worth Generate bills for your vendors and track how much you owe each vendor Generate invoices for your customers and track how much each customer owes you Import banking and credit card transactions directly from the bank or credit card company, and categorize them automatically Manually enter transactions and categorize them Reconcile your balances against the bank and credit card statements Produce tax reports for your CPA’s Use the ‘Company Snapshot’ function to get a real time view of your business activities Look up employee, customer, and vendor contact details Produce numerous reports to give you insight into your business Customize and print professional looking reports Track employee or contractor time Produce paychecks and process payroll Automatically deposit paychecks into employee bank accounts Deposit payroll taxes to federal and state tax agencies File payroll reports with federal and state tax agencies Print checks for vendors and employees Track your inventory Generate purchase orders Track shipments of various items in purchase orders Create bills for vendors based on items received in purchase orders Produce job costing and profitability reports
Every company is different in its own way and has its own unique processes for Bookkeeping! However, there are a good number of common Bookkeeping tasks across the various industries. We have learnt to isolate these common tasks over our sixteen years of experience. We have leveraged these common tasks to drive Bookkeeping standards and best practices across all industries. That’s why we are the best bookkeeping service in the USA. Below are some of the Bookkeeping tasks common to all industries. QuickBooks itself is built on these common tasks. However, bear in mind we can customize QuickBooks to meet the unique business needs for any industry.