With the accelerating growth of an accounting firm, the requirements and demands also increase. QuickBooks is a software that sits fit through all these phases of growth. QuickBooks hosting on the cloud caters to all the accounting needs. However complex or easy the accounting process be, QuickBooks is the right answer to all of it.
When an application or a software is hosted to the cloud, it’s horizons expand and so does it’s functionality. This is where the add-ons come into play. Add-ons are third-party applications, which when integrated with QuickBooks, help in accomplishing an array of tasks like cash and inventory management.
Let’s know how integrating Add-ons with QuickBooks would help in ameliorating your accounting experience:
1. Payment Methods
Its only fair to say that we live in the age of partial payments and attractive EMIs, no one really wants to pay full price upfront or is willing to commit to one single plan for a long duration. Periodic payments are preferred by clients as it helps them budget better and strategize their plans. If you have such clients, then QuickBooks add-ons such as Bill & Pay is the perfect fit for you, it gives you an automated payment feature. It helps in regulating the frequency, fees of the payments being made and also helps out by updating the balance of the invoice in QuickBooks.
2. Stock Management
When we say that QuickBooks is a meticulous software known for its business relativity, we stand by it. But what we also identify is the fact that a little help in the area of inventory management would complement QuickBooks even better. QuickBooks add-ons like Fishbowl Inventory prove to be a game-changer when it comes to inventory management. It provides useful features such as stock tracking by using the serial number, providing worldwide inventory support, along with the pricing history of specific items.
3. Paperless Documentation
As every business in the world is quickly moving towards paperless and electronic methods to save the environment and go green, QuickBooks add-ons act as a catalyst, a pro-support in this entire process while increasing work efficiency. It becomes very easy to store the files and documents when using QuickBooks add-ons. A number of these add-on applications let you complete your task by just having to scan and attach the data with invoices, bills. Going the electronic way of documentation with these QuickBooks add-ons, lets you store all the data in one place, thus making auditing and examining files, an easy task.
4. Employee Management
The team, the employees form the base of any organization. They are the molding pillars for the success of a business. With QuickBooks add-ons, you get the facility of managing the employees with efficient time tracking. From assigning tasks to managing work schedules all of this can be done in a jiffy with add-on apps like Count Me, which makes it very easy to clock the time of the employees. It comes with the added benefit of tracking time even without an internet connection and provides the updates when the system regains connectivity and is online again.
5. Cashflow Forecasting
Having QuickBooks add-ons lets you keep the company’s finances in order. It enables CPAs to be on top of their number and finance game, letting them spear ahead. These add-on apps allow streamlining all the invoices and bills generated from QuickBooks. Integrating add-ons with the QuickBooks, eliminates vestigial hand-operated tasks such as data entry, which in turn increases accuracy in lesser time.
To Sum it Up
QuickBooks is undoubtedly the most exceptional and useful software when it comes to Small and medium businesses. It is brimmed with features and helps in easing out a number of accounting chores. But with sporadic growth of a business, new needs and a lot of changes arise, to accomplice all this, getting Add-ons almost becomes a mandate. QuickBooks Add-ons make an already excellent software, even better. Features like easy expense management, stock tracking, and paperless documentation are features that this rapid pace industry is bound to appreciate.