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Maximizing QuickBooks

by Karen Stern

QuickBooks Online accounting software is one tool small businesses can use to maintain their tax and accounting records, but there are countless aspects of the software that are often underused. Here are some features you should be aware of to get the most out of your software:

Attachments

Attachments can be added to bills, checks, invoices and other transactions within QuickBooks Online. The attachment can be any type of file, and this eliminates the need to retain paper receipts. Attachments can also be added directly to the “Attachments” list without attaching them to any specific transaction, so you can go back and link the attachments to particular transactions later.

QuickBooks Labs

A new feature of QuickBooks Online is the QuickBooks Labs, where you can find experimental plug-ins. Some of the “experiments” may turn into real features of QuickBooks and others may not. QuickBooks is relying on users to give it feedback about these plug-ins; however, there is no support provided.

QuickBooks Apps

This is an area that you should check frequently to see what new apps that sync with QuickBooks and might benefit your account are available. These apps are listed by “Newest,” “Top Rated,” “Featured” and “All Apps.”

QuickBooks Apps

Using QuickBooks Online, you can connect your bank accounts or credit cards to automatically download transactions daily as long as you are using a participating bank. When you connect your account for the first time, you can download up to 90 days of transactions.

QuickBooks and other accounting software can streamline your small-business tax and accounting needs. For help in selecting the software that is right for your small business or if you have questions on how to better use your current software, contact your adviser.

Karen Stern (314-983-1204 or kstern@bswllc.com) is partner in charge of BSW Small Business Services, which provides small business tax
and accounting services




Submitted 8 years 209 days ago
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