QuickBooks

Products and services

In this section we are going to highlight some of the features available in QuickBooks that enable you to get things done in your business. For more details about the current features and prices, visit QuickBooks.

Short video guides (COMING SOON)

Here are some short videos to help you see how easy it is to use the software, and also act as a reminder in case you haven’t used the features in a while.

• Create a customer
• Create an estimate for a customer
• Create an invoice for a customer
• Create a recurring invoice for a customer
• Create an invoice for a customer with CIS and Reverse Charge
• Send a customer statement
• Send a customer a reminder to pay

Sales

This is where most business owners spend their time. It’s where estimates are drafted and sent to their potential customers. It’s where time is tracked so not a second of work is forgotten about, and it’s where those estimates are flipped into sales invoices once their customers accept the offer and the work is completed.

Other features in this area are creating customers so that you are able to keep tabs on customer activity, and outstanding invoices from them. It’s also where you to setup recurring invoices so that repetitive processes can be automated, minimising risk of errors or omissions for work that comes in regularly from certain customers and clients.

Banking

This is the area where you will categorise all the bank transactions that are automatically imported from your bank account via a bank feed or from a bank statement you downloaded from your internet banking.

Bank rules can also be set up to enable QuickBooks to automatically categorise transactions that you deem appropriate. For example, if you have your telephone with Vodafone then you tell teach QuickBooks to automatically categorise Vodafone transactions as Telephone, and claim 20% VAT back.

It’s not just bank accounts that can be connected in this section. Accounts like PayPal, credit cards, payment processors and loan accounts can all be paired to ensure we don’t miss a penny.

Taxes

Taxes that QuickBooks can estimate and show in real time to you in this area are:

• Self Assessment
• CIS
• VAT

If you purchase the payroll module from QuickBooks, then it will calculate PAYE & NI for you too.

Reports

This section contains everything a business would need to get a better financial understanding of their business. It contains the following reports.

• Profit & Loss to show how much profit the business has made, or loss if times get difficult
• Balance Sheet to show all the assets and liabilities the business has at any one point in time
• Trial Balance to show the balance of each category for a chosen date
• General Ledger to show all the transactions that make up the balance of a category
• Aged Receivables to see who owes the business money
• Aged Payables to see who the business owes money to
• Sales by Customer Detail to identify the biggest customers in the business so you can potentially focus more on them

There are over 80 reports straight out of the box, with the ability to customise them and add others if needed.

Add-ons & Connections

There are a plethora of connections that QuickBooks can handle which will make automation of your business processes more streamlined. Some of the main providers that we see used on a daily basis are:

• Dext (formerly Receipt Bank)
• Auto Entry
• Stripe
• GoCardless
• Shopify

The list is constantly growing, so to see the latest integrations check out QuickBooks’s dedicated page.