QuickBooks

Accounting, inventory, payroll, tax preparation, invoicing, bank account tracking and balancing, cost management, budgeting, payment processing, and management of accounts receivable and payable are all included in the full-featured QuickBooks business and financial management suite. For someone who is familiar with accounting principles and how the accounting software functions, learning to use QuickBooks is simple, but it might be challenging for someone who lacks technical expertise or has no prior experience in bookkeeping.

Features of QuickBooks:

Track invoices

Invoices are simple to make and may be sent to clients via email or printing. QuickBooks will automatically record the income and keep track of how much each client owes you. You may check the number of your overdue bills as your accounts receivable (A/R)—as well as how many days they're overdue.

Maintain Bills and Expenses Records

QuickBooks connects to your bank and credit card accounts so that all of your spendings are downloaded and sorted, keeping track of your bills and expenditures automatically. If you need to manually track a check or cash transaction, you may quickly record it in QuickBooks. In order to track upcoming payments or A/P, you can enter bills into QuickBooks as soon as you receive them. Making an A/P report will help you make sure you pay your invoices on time.

Report on Profit and Loss

The income less the expenses summarized in the profit and loss report will indicate how profitable your company is. The report displays your overall net income (loss) for the week, the month, or the quarter.

Payroll

You should really not try to save corners by attempting to do payroll manually. Paycheck calculation errors can lead to harsh fines and unhappy workers. As frequently as you need, QuickBooks' own payroll function can automatically generate and run payroll. As was mentioned previously, when you enter employee time, the hours flow not just to your invoices but also to the payroll module. You may be sure that every hour you pay your employee is taken into account when billing a customer in this way.