Question: I just recently started doing the books for my husbands tucking company and I am having a hard time figuring out how to correctly use QuickBooks premier 2021.
QuickBooks is the best accounting solution currently available in the market. Due to its cost, however, many users want to make sure that they get the maximum out of it. To maximize your return on this software, you need to know about its most important features that will not only help you in recording accounting data, but also in making decisions and cutting costs.
Here are the top features available in QuickBooks:
In QuickBooks, you can easily record all the transactions related to your business. Further, you can issue refunds for any out of pocket expenses that you made for your business. The transactions can be stored in the form of invoices and bills. All of the transactions are automatically recorded into the journal and ledger.
Once you’ve recorded your accounting data, you can use it to create reports. These reports offer detailed analysis and breakups of your expenses, revenue, assets, and liabilities. On the basis of these reports, business leaders can gather important insights and make good data backed decisions.
Once you get the payroll subscription, you can enable it in QuickBooks desktop. Once you’ve done so, you can pay your employees directly through your accounting software. Moreover, you can file all of the payroll taxes and fill in the forms automatically through the data stories in the employee database of QuickBooks.
All of your accounting data is secured through high level encryption. Intuit makes sure that the company file cannot be accessed without the proper admin credentials. You can also create separate user accounts with different levels of access. The software will also prompt you to change the password of your user accounts every 90 days to make sure that no ex-employee has access to the data.
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