Personal Finances Made Easy: A Simple Beginner’s Guide to QuickBooks
Everyone knows QuickBooks as a finance application for businesses. But did you know you can also use this program to keep track of your own income, expenses, and other personal finances?
Don’t worry if you have little to no knowledge about this application. Our team at Tostrud & Temp, S.C. is here to give you an overview of QuickBooks, as well as its functions and benefits.
What Is QuickBooks?
QuickBooks or QB is an all-in-one finance software created by Intuit for small businesses. The program is designed to streamline accounting, bookkeeping, inventory management, payroll, and other financial processes using automation. It also has various ready-made templates for reports, allowing you to create charts and graphs, financial statements, and invoices with just a few taps on your own device.
There are many functions that come with this program, which can be accessed through its easy-to-use UI (user interface). Since it is also a cloud-based application, it allows its users to access their accounts anytime and anywhere — provided that they have a stable internet connection.
What Are the Key Functions of QuickBooks?
QuickBooks offers a wide range of efficient features for individuals who are looking to manage their personal finance matters. The software allows users to accomplish tasks such as:
- Accepting online payments from clients
- Automating bills payments and savings deposits
- Budgeting or financial planning
- Managing cash flow
- Estimating taxes
- Reconciliation of financial accounts
If you wish to learn more about these functions, you can read QB manuals and tutorials online. You may also consult with our accountants at Tostrud & Temp, S.C. so we can explain things in detail.
Why Use QuickBooks for My Small Business?
Automation is the key benefit of QuickBooks. Since everything is pre-programmed, you are less likely to make mistakes compared to when you are doing everything manually. For example, you can connect your financial accounts to the biller to make sure you do not miss the due dates of your utility bills. You can also automate savings deposits so you won’t accidentally spend your money on things that are out of your budget.
QuickBooks can also help you generate reports, which can be useful when you are managing your cash flow. These reports can be your guide when you reconcile your financial statements with your income, expenses, taxes, and savings.
With QuickBooks, you can gain a better understanding of your personal money matters, adjust things according to your needs, and have better control of your money. This way, you won’t need to worry about debts or not having adequate funds for your bills and savings.
How Do I Operate QuickBooks?
If you need more than a beginner’s guide to QuickBooks, our team at Tostrud & Temp, S.C. in La Crosse, WI is here for you. We can walk you through QuickBooks so you can better manage your personal finances. Contact us today to speak with our experienced and knowledgeable accountants.