Why QuickBooks Should be Part of Your Business
You know about QuickBooks, so many businesses are using it and yet you’re unsure. Here are reasons you should make the transition.
Your competition is using it. If your accounting system consists of a spreadsheet or a check register you are at a competitive disadvantage. You might be doing okay using Word or Excel to run your business but many of your rivals manage their financial data using a cloud or desktop accounting solution and any efficiency translates to either more time or more money. They’re also presenting a more modern image to their customers.
Now is the time to update your accounting system, and although it’s the middle of the year, there are efficiencies that can be used to import year-to-date data. Here’s what your competition has learned and what you too, can experience.
Transition will cut into your productivity! Paragon has the ability to accelerate the process by helping you make the conversion and train you (and any employees) in best practices with QuickBooks. Because of our Advanced Pro-Advisor Certification along with many years of experience we are able to support this process very effectively.
Once you see some of the capabilities of QuickBooks you’ll realize what you’ve been missing:
Search capability. QuickBooks has search and find features that makes all data stored in the file searchable, not just numbers. This navigation tool alone will save you time.
Minimized errors. Once you’ve entered data in QuickBooks, whether it’s customer information, product/service information or vendor information, the software stores it. Not only does this improve accuracy it will catch duplicate data entry. QuickBooks (both desktop and online) has a robust bank feed feature that imports data directly from bank and credit card websites, once again minimizing time spent in data entry and errors. As with any part of software setup, knowing the system and how it works enables us to get you up and running with minimal frustration.
Real-time reporting. Using the software regularly to update bank and credit card information, invoice your customers and pay your bills gives you accurate profit and loss reporting at any time.
Job Costing and Time Tracking. If you and your employees provide services that are billed to customers you can create time sheets with customer/job information linked to hours worked, allowing you to track job profit.
Revenue Stream Tracking. If you need to track profitability for different product lines, departments or locations, turning on class tracking is the start of profitability reporting. You will need to be diligent about using the correct class for each transaction recorded but the result is detailed profit and loss reporting for each class.
If you’re convinced that QuickBooks would be a good investment or if you’ve already installed it but aren’t using its features, contact contact us.
Our clients come to us for help in implementation. We assess where you are and devise a plan to bring you to where you want to be. Other clients come to us after they’ve been frustrated with using QuickBooks on their own. We review your file, clean it up if necessary, and provide training for future use. Call or email to set up a consultation.