Rajesh Pathak Jan 25, 2024
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What is QuickBooks? How Does It Work?

QuickBooks is one of the most popular accounting software applications in the world. It’s used by both small- and medium-sized businesses, as well as large corporations. There are many reasons to get certified in QuickBooks, especially if you work in bookkeeping or accounting. 

Certified ProAdvisors can help clients learn how to use QuickBooks; they have access to technical support and other support services from Intuit; they have a listing in the Find-A-ProAdvisor database, which lets potential clients find them more efficiently, and they can attend the QuickBooks Connect conference at a discounted rate.

Also Check Out: Tips to Learn QuickBooks Software

What is QuickBooks?

QuickBooks is an accounting program created by Intuit whose products offer desktop, internet, and cloud-based accounting programs that can process invoices and business payments. Most QuickBooks’ customers are medium-sized and small enterprises. QuickBooks is well-liked by these consumers due to its simplicity and monitoring capabilities. Numerous features from the Web have been incorporated by Intuit into QuickBooks, including;

  • Functions of electronic payments
  • remotely accessible features
  • Map capabilities
  • outsourcing and guidance with remote payroll
  • reconciliation and online banking
  • enhanced mail capabilities with Microsoft Outlook

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QuickBooks as an Accounting Management Application

QuickBooks functions as an accounting management application. It can manage payroll, accounts payable, accounts receivable and inventory. The software also allows you to track sales tax transactions and prepare financial statements with the help of built-in reports.

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QuickBooks is a popular choice among small businesses because it’s easy to use and requires little QuickBooks training or support from your accountant to work effectively for your business and its users’ needs. QuickBooks has two main categories of users based on their industry.

  • Small businesses: This is the typical user of QuickBooks who employs a single person and does not have more than $100,000 in revenue per year. A small business may be an independent contractor or an LLC (limited liability company).
  • Accountants and bookkeepers: These users are usually more prominent companies that use QuickBooks for accounting purposes. They do not need to take care of all aspects of running the business, but instead focus on ensuring it runs smoothly from day-to-day operations. 

Also read, Why is QuickBooks Certification Important to your Accounting Career?

How Does QuickBooks Work?

QuickBooks is a popular accounting software that allows users to track their finances and manage their businesses. The software is designed to be user-friendly and can be used to do various tasks, including invoicing customers, tracking expenses, and preparing tax returns. QuickBooks can be used on both PCs and Macs. QuickBooks also has other benefits that make it an invaluable tool for businesses of all sizes. Now let us take a look at how QuickBooks works;

  • QuickBooks services are available in various ways. You don’t have to sign up for them all at once. You can begin with accounting or payroll software and then afterwards add others as your business expands.
  • After you sign up for the QuickBooks accounting software, you can add QuickBooks Live to help fully customise your setup. 
  • You can sign up for QuickBooks Payroll to streamline monthly payments and QuickBooks Time to keep track of billable hours.
  • Despite its many features, QuickBooks is relatively easy to use. The software is designed to guide users through each step of the accounting process and includes several helpful tutorials. 
  • QuickBooks offers phone and email support for users who need assistance. Overall, QuickBooks is an effective and user-friendly accounting solution for businesses of all sizes.

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How QuickBooks Can Benefit Your Business?

QuickBooks is a comprehensive accounting software solution that can save businesses time and money. QuickBooks is an affordable and easy-to-use solution that can significantly benefit businesses of all sizes. It can help your business in many ways, including

  • It helps track all financial transactions, including sales, purchases, payments, and receipts. 
  • Produces reports that can help businesses keep track of their financial performance. 
  • Help prepare tax returns, making the tax-filing process more efficient. QuickBooks is an affordable and easy-to-use solution that can significantly benefit businesses of all sizes.
  • Access all financial statements (balance sheet, profit-and-loss statement, and more).
  • It makes inventory management more accessible. It helps in tracking inventories.
  • QuickBooks makes it easier to calculate your income and expenses automatically as they happen.
  • QuickBooks Online is available as a desktop application and an online SaaS model at an affordable price.

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QuickBooks is a great accounting software tool for small businesses to self-employed individuals. It provides several features that make the task of bookkeeping easier and less tiring. QuickBooks can save you time and money and help you to avoid mistakes that could cost your businesses dearly. QuickBooks software helps manage your finance with precision. If you’re not already using QuickBooks, now is the time to give it a try. You may be surprised at how much easier it makes your life. 

Also Check Out: Top Finance Certifications To Enhance Your Expertise

Accounting & Finance Certification Courses Offered by Edoxi in the Middle East

Explore the  Accounting & Finance Certification Courses Offered By Edoxi Training Institute in various countries and locations in the Middle East.

Country UAE Qatar
Course Location Dubai Doha

IT Trainer

Rajesh is a Microsoft certified trainer with more than five years of experience. He plays a vital role in streamlining our enterprise software training programs. As a continuous learner with an unrelenting drive to refresh his IT skills, Rajesh always keeps an eye on the latest software releases.

His adaptable approach to learning navigates the efforts of his students in the right direction, leveraging maximum results with efficiency. Moreover, he is enthusiastic about nurturing the students' skills in a collaborative learning environment. 

He has helped hundreds of professionals hone their skills in Microsoft Office Suite, Tally, Advanced Excel Formulas, VBA, Busy Accounting Suite, Quickbooks, Power B I, and Zoho Books. In addition, he has the expertise in training individuals from global institutions like Parul University, Techno India University, GD Goenka University and Sharda University.