The Functions Of Quickbooks

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QuickBooks is a software used by many small businesses and is designed to help manage payroll, inventory, sales and other needs of a small business. The new accounting software is more cost-effective than other existing ones and deters the need for a personal accountant. It’s simpler to use and will be of value for the business and the salesmen behind it. QuickBooks helps with everyday organization like keeping up and managing cash flow, invoicing, reports, taxes and payroll through your computer or phone screen. The software's main purpose is to alleviate the use of multiple tables and graphs, spreadsheets, and tracking sheets that are necessary to document and maintain accounting tasks for a business. You don’t necessarily need a…show more content…
On the top of the sales transactions page, QuickBooks will show different colored tabs. Those tabs are labeled as follows: estimates, unbilled activity, overdue invoices, open invoices, and paid invoices in the last 30 days. This is where you would create a new invoice to record a new sale and you can also import all sales into a hard drive or USB.
The expenses tab displays a whole list of expenses your business has made through checks and/or credit cards. This could include payments to customers, bills, USPS, Fed-Ex, the IRS and more. Paying your bills through QuickBooks online or printing checks will reduce unnecessary data entry and increase productivity. The next tab is the employees tab which display the names, phone numbers and email addresses of the employees. It helps manage employee time using a weekly timesheet. Tracking employee work time in QuickBooks can help measure productivity and can prove to be valuable for job costing purposes. The next tab is the sales tax center and records your sales tax payments. The box will display the name of the business, the gross sales, taxable sales, tax amount, adjustments, payments and the balance of the business after sales tax is payed. You can record your tax payments and view reports of past expenses.
When speaking about assets, liabilities and equity, QuickBooks controls all putting
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