The establishment of software solutions in the cloud is taking the leap that is benefitting businesses in many ways. And bookkeeping resources and accounting applications are no exception. Back in 2000, when QuickBooks Online was launched by Intuit the control over it seemed far off. But, the QBO functionality and support has dramatically improved and this is making small businesses to adopt QBO as a viable option.
Cloud accounting product such as QuickBooks Cloud and QuickBooks online will form the wave of future. From reduced IT costs to ease of use, cloud-based accounting solution offers a variety of benefits to businesses. A unique feature of QuickBooks Online – automatic sync of business finance profile to one single dashboard enables many users to view in-depth accounts and reports. Compatible, mobile and print friendly QBO platform helps to create profit and loss, trade sheets. Just see what you want to see. Users can create their own custom reports and feeds from with the dashboard.
Much beyond portability, accessibility, QuickBooks online offers great benefits that make it the most probable fit for your businesses. Let’s open up the cart of benefits enclosed in QuickBooks Online version –
1. Better Collaboration & Easy Access to Data
Collaboration between users is simplified. Secured online working with your team and accountant anywhere and anytime makes it a must-have for any business. In real time, files get synced and you can use them simultaneously with other cloud solutions. Remote access option enables you, your accountant and bookkeeper to log in to QuickBooks account from any web browser.
2. Need for Back-ups Eliminated
No need to save files and data to an external device. Multiple company files can be protected against accidental data loss and can be restored for a specific data range.
3. Automated Report Generation
QuickBooks Online allows you to send statements, estimates, invoices, and reports automatically. For better cash flow customers can send invoice promptly. Make the most out of this feature by recording payments, creating invoices, managing invoices, customizing invoices with preferred fonts and company’s logo.
4. Connecting Apps and Easy Expense Tracking
Managing accounts will be hassle-free and will allow syncing, importing and linking data from apps already in use such as American Express, Square, and PayPal. Automatic categorization of transactions, so, earnings and spending can be easily tracked. Besides, this you can easily access latest features and updates.
5. Figure-Out the Resources Easily
Business financial health can be maintained by identifying the resources essential for the sustenance of business. This comprises raw materials, equipment funding and also, the time spent by different employees on collecting payments, expenses, etc. Lingering up of the process can easily be avoided.
6. Real-time Collaboration:
Multiple resources can work simultaneously on QuickBooks Online. Automatic download, reconciliation of transactions and simplified tracking of the expenses help to manage the cash flow easily. Customization of invoices and sending dozens of reports in just one click simplifies the data management process.
QuickBooks online version offers complete control over data. Data backup process can be automated and ensures secure access to financial data. Besides this, QuickBooks online enables set-up of detailed tracking and robust reporting system.