QuickBooks has become a major bookkeeping resource for most businesses. This program allows companies to keep accounts of their receivables, to time track as well as account for both vendor and client databases. The program despite being revolutionary has one major problem; it doesn’t take into consideration the native importation of other systems data.
Many businesses are still green on the working mechanisms behind QuickBooks. Most of them do not know that with the support of a programming company, they can import anything into QuickBooks.
With the ability to integrate different systems with QuickBooks, businesses can expand their profitability and run all the more efficiently by wiping out redundant data entry.
How SMEs benefit from QuickBooks
SMEs enjoy a lot of advantages from utilizing QuickBooks. One, using QuickBooks to handle accounting needs tends to save a lot of time and is more efficient. Small and medium enterprise companies can attest to this. Here is how, the program only requires you to enter data once, and do nothing more. This means that once you enter data into an order entry system for the first time, it also records into QuickBooks in real time thus saving you time and enhancing efficiency.
Secondly, every data entry errors are often recorded when QuickBooks integration is utilized as less manpower is used thus reducing the chances of making mistakes typical of human beings.
Thirdly, SMEs tend to appreciate expanded money streams when they use QuickBooks for bookkeeping. This expansion is a direct result of the speedy work process the program permits.
How accounting firms benefit from QuickBooks
The majority, accounting firms enjoy fees paid to them for facilitating accounting tools to their clients. By providing advanced accounting solutions, i.e., QuickBooks to their customers, accounting firms gain the trust and confidence of their customers (because their firm’s solutions helped broaden their areas of business). When this happens, the customers will recommend the firm to other potential customers.
Also, like with SMEs, QuickBooks allows for accounting firms to work faster and more profitably as fewer errors are recorded in QuickBooks files. Moreover, they will realize that clients can now submit their files on time allowing them more time to handle busy tax sessions with ease.
The biggest advantage of facilitating QuickBooks to clients is that accounting firms begin to enjoy a higher rate of work. This is because as businesses spend less money on bookkeeping services, they will have large budgets or higher rates of accounting work- an added advantage to accounting firms.
How do firms facilitate QuickBooks to business?
They do this in two. Through batch imports or backend integration. The former requires a company to create an export file, view the file contents and then import it into QuickBooks. Backend integration, on the other hand, involves the two systems communicating together directly to complete tasks simultaneously.
QuickBooks benefit a decent number of businesses; these include SMEs and accounting firms as seen above, retailers who need to integrate their merchant credit card processing and staffing agencies utilizing time tracking systems to pay their employees among others.