In 2020, there were over 30 million small businesses open in the United States. If you’re one of those millions of shops trying to remain open, you know that accounting is a crucial part of that process.
In that case, you might’ve looked at QuickBooks to organize your business’s finances. But is QuickBooks any good? Should you even consider using it for your business?
That’s what we’re here to look at today. Read on to find out more about whether QuickBooks is right for your business.
What Is Quickbooks?
QuickBooks is one of the most popular business accounting software out there. Small businesses often use it to manage expenses and income as well as their overall financial well-being.
It’s a versatile program that’s used by anyone from one-person startups to businesses with over a hundred employees. QuickBooks can be used to invoice customers, generate reports, prepare taxes, and more.
But how can small businesses use QuickBooks? Why is it commonly sought after by that sector specifically?
What Is QuickBooks Used For?
Like we mentioned earlier, QuickBooks helps businesses create and track invoices for their customers. They’re often generated by the software and sent out electronically to clients.
The software also consolidates bills and taxes into a single platform. Users can connect their bank accounts or credit cards to QuickBooks as well.
Reporting is another key function of QuickBooks, as generating financial statement reports or balance sheet reports is made easy through the platform. Cash flow statements are also available.
Pros and Cons of QuickBooks for Businesses
That’s not even close to all the functions that QuickBooks provides. With so many features, you might be wondering why anyone would ever consider anything else for their small business.
Not so fast though. It’s no secret that QuickBooks offers a good value for its price. However, it does have a few limitations that warrant mentioning along with its pros.
Obviously, QuickBooks offers lots of useful functions and is surprisingly easy to learn for business owners. It also has plenty of third-party integrations, making it easy to plug into your existing system and go.
However, it also doesn’t have many industry or business-specific features. This means it probably doesn’t have tools that are specific to your business’s niche.
QuickBooks also doesn’t have many reporting capabilities outside of basic accounting functions. It’s also prone to crashing and doesn’t have much in the way of on-demand support.
Why Orcutt & Company Is the Best Option
At the end of the day, a real-life accountant can be extremely beneficial in addition to QuickBooks. Orcutt & Company offers those services and then some.
We offer QuickBooks support to help you figure out any kinks in the system. If you need personalized training, we’ve got you. Using QuickBooks doesn’t have to be a headache with our help.
Whether it’s bookkeeping and accounting or simple payroll services, we’re here to offer you excellent support for small businesses. If you’re looking for tax help or just general business advice, we’ve got that as well.
Choosing Best Accounting Options for You
It can be hard to tell whether QuickBooks is the right choice for your small business. Use this article to help you decide whether QuickBooks is the way to go for your small business and take control of your finances today!
For reliable small business financial services, or for reliable QuickBooks support, contact us today and we’ll provide a solution for you right away!