A powerful tool for your business, QuickBooks Online (QBO) software makes collaboration with your accounting team seamless. Learning the ins and outs can save you time and boost your productivity. Use these five time-saving tips to transform your process:
1. Use Intuit’s full-service payroll system
Make payroll fast and simple. This online system lets you manage your payroll from anywhere with an Internet connection. Intuit carries the responsibility for tax filings and tax payments. When you integrate this system with QBO, it adds payroll entries to your business accounting software for you, so there’s no need to make a journal entry or use an outside payroll product. Plus, businesses can use this system even if they don’t have QuickBooks.
2. Get paid faster with Intuit Payments
This is a feature we recommend for all of our QuickBooks clients, whether they use online or desktop. Designed for businesses of any size, this feature will save you time and money. With Intuit payments, your customers can pay invoices online with a debit card, credit card, bank transfer or even Apple Pay. Payments will automatically post to the invoice or sales receipt and deposit directly into your bank account, saving you time with bank reconciliations. It also allows you to set up recurring payments for your customers. For in-person payments, users receive a free card reader to swipe cards.
3. Set up 1099 vendors
When your business brings on a new freelancer, contractor or other vendor, we recommend setting up a 1099, before cutting that vendor their first check. Ask your vendor to complete a W-9 form and collect all the information you need. This avoids headaches for your team at the end of the year, when it’s time to issue 1099s.
4. Connect your bank account
Account integration is seamless with QBO. When you connect your bank account to QBO, your bank transaction history flows right into your software. It will match transactions that you’ve already entered and allow you to associate your transactions to the proper category. This feature also keeps your dashboard up-to-date, so you get a clear picture of what you’re making and what you’re spending each month.
5. Send documents securely
Keep your information private with QBO. This feature allows you to attach sensitive files, like bank statements and bills, and share them with your accounting team over a secure network, rather than using email.
QuickBooks offers a vast number of features to help your workplace save time and stay organized. The Certified ProAdvisors at 415 Group can help you get started. Whether you’re new to the software or a long-time user, we can help you unlock the best features for your business.
If your business received a PPP loan, you may be eligible to have that loan forgiven. Our team can help you ensure that your loan forgiveness application is filed correctly and timely. Complete our five-question form, and we can provide a quote for your application by the next business day.Request a Quote