QuickBooks bookkeeping services all over the place? What bookkeepers miss, Desktop Pro or Online? What to use QuickBooks for, what not to, how to get more from QuickBooks.
Use QuickBooks for More Than Basic Bookkeeping
QuickBooks can support much more than recording income and expenses when it is set up around the way a business actually operates. Depending on the QuickBooks product and subscription, businesses may be able to organize customer and vendor information, attach supporting documents, track products and services, monitor receivables, review financial reports, and create workflows that reduce repetitive bookkeeping work.
BSC helps Columbus-area businesses organize their QuickBooks bookkeeping so the software supports day-to-day operations as well as accurate financial records. The goal is not to use every available feature, but to identify the features and processes that actually make the business easier to manage.
Organize Supporting Documents with Your Bookkeeping
One useful way to improve a QuickBooks workflow is to keep supporting documents connected with the related accounting activity whenever the software and subscription allow it. Bills, invoices, vendor information, receipts, and other documentation are easier to review when accounting staff do not have to search through separate email accounts and folders to understand a transaction.
For example, BSC worked with a contractor that received a vendor bill for work performed on a customer job. The business owner had previously emailed information explaining that another contractor had been hired to correct part of the original work. By attaching the supporting communication to the related bookkeeping record, staff could understand why the vendor bill had been adjusted without repeatedly searching through old emails.
Keeping documentation close to the relevant transaction can improve continuity when several people work on the books and can provide useful context later when a transaction needs to be reviewed.
For QuickBooks Bookkeeping Services Columbus we believe good communication and efficient organization of data is vital when profitability and or growth are business goals.
There is a lot you can do within QuickBooks Desktop Pro to manage a small business’s inventory. Columbus QuickBooks Bookkeepers.
Use the Right Product and Inventory Setup
QuickBooks can also help businesses organize the products, materials, and services they buy and sell. The appropriate setup depends on whether the business actually maintains inventory or simply purchases materials for individual jobs.
A contractor that buys materials specifically for one project may need a different bookkeeping setup from a retailer or distributor that keeps products in stock for future sales. Choosing the right item type affects how purchases, costs, quantities, and financial reports are recorded.
Use the Right Product and Inventory Setup
QuickBooks can also help businesses organize the products, materials, and services they buy and sell. The appropriate setup depends on whether the business actually maintains inventory or simply purchases materials for individual jobs.
A contractor that buys materials specifically for one project may need a different bookkeeping setup from a retailer or distributor that keeps products in stock for future sales. Choosing the right item type affects how purchases, costs, quantities, and financial reports are recorded.
Inventory Items vs. Non-Inventory Items
QuickBooks distinguishes between products that need quantity-on-hand tracking and products or materials that do not.
Inventory items are generally appropriate when a business needs to track quantities held for sale. Non-inventory items may be useful for products or materials that the business buys or sells but does not track as inventory on hand.
For example, BSC has worked with contractors that purchase materials specifically for individual jobs rather than maintaining a warehouse of stocked products. In that situation, organizing those materials as non-inventory items may provide a simpler way to track what was purchased for a job without treating every item as warehouse inventory.
The correct setup depends on the company’s accounting method, workflow, and reporting requirements, so inventory configuration should be reviewed carefully before changing how items are recorded.
Columbus QuickBooks Bookkeeping Services have learned that making use of these features can enhance the business’s efficiency and keep track of items both for specific jobs and assets for later use.
Need help to get your inventory under control? Call QuickBooks Bookkeeping Services Columbus at (614) 205-5676 and ask for Linda.
Organize Products and Services for Better Reporting
A good QuickBooks setup should make information easier to find and report on. Depending on the product and subscription, businesses may be able to organize products and services using categories, item information, custom fields, or other classifications that reflect how the company operates.
The purpose is not to create extra complexity. These tools should make it easier to answer practical questions such as which products or services are being sold, what materials relate to particular jobs, and whether the bookkeeping records contain the information needed for invoicing and reporting.
Choose the QuickBooks Product That Fits the Business
QuickBooks features vary by product, subscription, and business requirements. A small service business may need a different setup from a contractor with job costing or a company that manages significant inventory.
BSC focuses first on the workflow the business needs—billing, expenses, reporting, inventory, projects, payroll-related records, or other bookkeeping activity—and then works within the QuickBooks environment available to the client.
Businesses considering a new QuickBooks setup should also verify current product availability and features directly with Intuit, because QuickBooks products and subscription options change over time.
Connect QuickBooks Features to a Repeatable Bookkeeping Process
Software features provide the most value when they are part of a consistent process. Attaching documents does not help if transactions are entered inconsistently. Inventory tracking does not help if purchases and quantities are not maintained accurately. Financial reports are less useful when accounts have not been reconciled.
The strongest QuickBooks setup combines appropriate software features with repeatable bookkeeping procedures so information stays organized, accurate, and easier to review.
For many BSC clients, getting more from QuickBooks means simplifying the workflow rather than adding more complexity.
Connect QuickBooks Features to a Repeatable Bookkeeping Process
Software features provide the most value when they are part of a consistent process. Attaching documents does not help if transactions are entered inconsistently. Inventory tracking does not help if purchases and quantities are not maintained accurately. Financial reports are less useful when accounts have not been reconciled.
The strongest QuickBooks setup combines appropriate software features with repeatable bookkeeping procedures so information stays organized, accurate, and easier to review.
For many BSC clients, getting more from QuickBooks means simplifying the workflow rather than adding more complexity.
Explore More QuickBooks Bookkeeping Resources
We have found that small business owners often do a poor job of leveraging QuickBooks financial reports. The right kind of financial reports can be critical for determining a company’s financial health and to make informed business decisions. Generating the right kind of financial data and interpreting that data correctly can make or break a small business.
Learn more:
QuickBooks Services – Managing Your Financial Reports in QuickBooks
QuickBooks Services – Customizing Your Invoices
QuickBooks Bookkeeping Services – Get Help
