You may remember some of our previous posts about QuickBooks Online (QBO) and noticed how they primarily focused on our QBO Integration. We’ve worked hard to make sure our integration works well for you, but QBO is also pretty cool all on it’s own. We all know that it keeps track of your finances and saves you a lot of time, but today I’m going to let you in on some of the lesser known benefits of QuickBooks Online so you can save more time and money— and be ready at tax time. Your accountant will thank you!
1. Throw away your receipt box
Take the receipts out, first! QBO allows you to take a picture of your receipts with your smartphone and store them securely within QBO. No more lost receipts, missed deductions, or shoe boxes full of receipts. They’ll also sort your receipts to pair with expenses that already exist!
2. Import all of your transactions
By now you know that your invoices from Goodshuffle Pro seamlessly import over to QBO, but did you know you can import your bank card transactions, PayPal, and other too? This will give you a more complete view of where you stand financially.
3. Automate your expense trackingQuickBooks Online can automatically sort your various business expenses (included any of the ones you imported) into the correct tax categories so you always have a clear, up to date understanding of your income and expenses for taxes. This also means less work for you at tax time!
4. Forecast your future income and expenses
QBO offers income and expense forecasting for 30 and 90 day periods, so you can better plan ahead. No more making blind guesses at what the future holds when making purchasing decisions! All your choices can be informed by facts and trends that QBO has detected.
5. Set aside funds for known expenses
If you have expenses you know regularly need to be paid, like insurance, you can easily set aside those funds within a QuickBooks Cash Account so you always know they’ll be covered. This way, you won’t have to make mental calculations on how much money is actually available in your checking account, because it’s already set aside.
Plus the well known QuickBooks Online perks
...like invoicing, the ability to share your books with your accountant, customized reports, its security features, and all the other reasons we know and love QBO. Plus, accountants know it and love using it.
QuickBooks has been the industry standard in business accounting for many years. With so many benefits of QuickBooks Online, you can access your finances on the go, making it an even more sound choice for managing your financials. Plus, it's owned by Intuit (the same company who makes TurboTax) so you know you're in safe hands. At Goodshuffle Pro, we believe there are many benefits of QuickBooks Online, so built an integration for it before introducing our software to the public! This accounting software is the backbone of so many small, medium, and large businesses. How could we not start out with such a crucial integration?