Small businesses face many challenges when it comes to accounting. It can be challenging to manage every aspect of your business without accounting software (or even a basic accounting platform), including invoicing, payroll, and end-of-year taxes. In this, QuickBooks online can be useful. While using QuickBooks you may be trouble with QuickBooks error 404, 12000 series code for QuickBooks desktop to maintain your account you have to learn to remove these errors.
Three variations of QuickBooks’ state-of-the-art accounting software are available. Two of them are desktop versions, where all of your data is kept locally on your hard drive when the program is downloaded to your computer. The other is an online variation.
The online version requires using the software in the cloud and storing your data on secure servers maintained by the program’s creator, Intuit.
Although the operation of each QuickBooks version is the same, many users favor the online version. Small businesses have received help from CMP in utilizing QuickBooks’ many advantages. These advantages are detailed below.
1. Shared Data Access
You’ll value QuickBooks’ online application if you outsource your company’s accounting duties. All you need to access the application are a login and password because it is hosted in the cloud. This means that the software can be accessed and used by anyone in the firm who has a login; they don’t need to be using your particular computer.
Additionally, there are more user choices. You can have multiple users using various features of the program simultaneously if you choose one of these upgraded packages. It’s very helpful in this way. The software can be used by your accountant to assist you in maintaining accurate and balanced books.
2. No Need for Backups on Your Office Computer
The continual, underlying worry of losing your data is a problem with traditional QuickBooks solutions. It must be backed up onto your personal server because it is initially saved on your PC (and whatever USB drives you can fit it on). Your office technology could malfunction, causing you to lose that important data.
Fortunately, QuickBooks online doesn’t have a problem with this. The software automatically creates backups for you, and Intuit’s servers are where all of your company’s financial data is kept.
3. Online Help is Available When You Need it
As long as you have paid for the user license, you have quick access to Intuit’s online help desk if you ever need help using QuickBooks online. Their professionals can assist you with setup queries, bail you out of a pickle, and even with more general problems like how to upgrade the program to add a new user. You know where to go if you experience any problems while using the program. Additionally, there won’t be any extra fees for the service.
4. Automatically Send Invoices and Statements to Clients
QuickBooks Online is quite helpful if you need to send invoices and statements to customers on a regular basis. You can just have QuickBooks send the invoices on your behalf rather than printing, affixing, and sending them yourself.
The program will take care of the rest; all you need is the company’s accounting department’s email address, to which you are sending the invoices and statements. The supporting documents can be scanned in and sent to you via email if necessary.
5. Certain Transactions Will Automatically Load into the Program
The automatic uploading of certain bank account transactions, like purchases and payments, into QuickBooks online. This indicates that you merely need to review them to make sure everything is in order. To include the correct codes and information, you might also need to slightly rearrange the items.
But all of this is much simpler than manually entering each transaction and then properly coding it. You will undoubtedly save time using QuickBooks Online in this situation. You’ll see how much easier it is to simply check this information again.
6. Can Receive Electronic Payments Directly
Payments made electronically will make life much simpler. You won’t need to write checks, handle payments manually, or go to the bank. It will be much simpler to process electronic payments like bank transfers, ACHs, credit card payments, and debit card payments.
When your client receives their invoices, they simply click on the link to pay them using QuickBooks Online, which simplifies the process for you. The system will immediately record the payment.
7. Useful iPhone and iPad Apps
The QuickBooks apps for the Apple iPad and iPhone are the best option if you actually need to update your financial information from anywhere. Both of these are reachable using your user license for QuickBooks Online.
Even better, both apps have direct access to cloud-based software. Accordingly, any modifications you make to one version will also be reflected in the other. It greatly improves how adaptable the program is. Even though you probably won’t want to, it’s still good to know that you can work on your company’s books while you’re away.
8. Run Reports from Everywhere
There are numerous reports available in the QuickBooks online version. The quantity you receive is determined by your overall user license. Contact customer care if you want to run any other reports other than those that are already there.
We are trying to make the point that you can view these reports from almost anywhere. You can access the program from wherever you have your laptop because it is in the cloud. You can quickly access it on your iPhone and send it over if your boss asks for a report while you’re in the middle of your morning commute. This connectivity only makes things simpler.
Read Also: How to Set Up an Aging Report in QuickBooks
