Five Ways to Use QuickBooks for Your Small Business That You Haven't Thought of Before

Kandace Heller

January 21, 2014

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QuickBooks is an extremely versatile system that has a lot of uses that most business owners don't realize. If you're already using QuickBooks for your accounting, you may be able to do even more in it. There are many modules that can be added to QuickBooks, and some functions that can be added through your Quickbooks program.

1. Printing All of Your Tax Forms

If you've been keeping comprehensive records of your payments, you can print your end of year tax forms such as 1099s and W2s directly from QuickBooks Setup. Otherwise, you'll often have to type them up manually, and this can be an incredible chore. 1099s and W2s need to be sent out every year. The general ledger from QuickBooks can also be tremendously useful for accountants.

2. Payroll Checks

You can print payroll checks directly in QuickBooks with an additional payroll module. Payroll checks can be difficult to calculate, and a single mistake will often mean that you need to pay taxes out of pocket. When printing payroll checks, you do need to remember that your payroll state needs to be set properly so that the proper taxes and adjustments can be made.

3. Inventory Tracking

QuickBooks has an extremely comprehensive inventory tracking module, but it needs to be turned on in the settings. QuickBooks is so advanced at inventory tracking that it can actually track the individual components needed to build certain items. QuickBooks does need to be set up properly to do inventory, and inventory items need to be added in. Once this is done, QuickBooks will track your inventory costs and profits, and even your profit margins. All of this can be extremely useful for businesses that move large amounts of goods. The inventory tracking mechanism will even alert you when you're running low on some items.

4. Making Payments

QuickBooks now comes directly integrated with payment processing. Companies can use a swipe card mechanism to record and collect payments immediately, thereby easily streamlining payment collection. This is a great feature to add if you're already using Quickbooks accounting to keep track of spending. This way you can have all records of money coming in and out in one place.

5. Direct E-Commerce Integration

Company owners that are interested in creating an e-commerce site may be excited to find out that QuickBooks can be used to directly integrate into e-commerce sites. QuickBooks can also automatically download transactions from banks such as credit card statements and bank statements. This makes the entire process of accounting and bank reconciliation far easier. You don't have to worry about checking each site individually, as the program can help do that for you.

Quickbooks accounting software is some of the most advanced and versatile in the world. You can schedule an appointment with a QuickBooks Adviser to find out more about the functions available through the QuickBooks. If you already have the program and haven't tried all these functions, you aren't taking advantage of everything you can use it for!