If you’ve been using QuickBooks Desktop for a while, you know how versatile and intuitive the program is, and how effective it is for helping you streamline your business accounting. However, as more and more business owners are transitioning to QuickBooks Online, you may be wondering if it’s time for you to make the leap.
While both programs are exceptional at what they do, there is much to be gained from taking your accounting online. Check out the list below to see how QuickBooks Online can bring your business accounting fully into the digital age.
The most obvious benefit is that your information will be available from any platform with browser capabilities. Whether you rely on a traveling laptop or have your smartphone glued to your palm, your data will be where you want it when you need it.
Accurate Data Sharing
With QuickBooks Online, sharing data becomes instantaneous. Anyone you give permission to will be able to access your data, allowing them to work from up-to-date information in real time. With this, you no longer have to be concerned about making sure everyone has the latest spreadsheets, or that someone’s project has been held up because they don’t have the numbers they need.
Smartphones today have become a business staple, and QuickBooks Online takes full advantage of this latest technological evolution. With the suite of smartphone apps created for QuickBooks Online, users can now track mileage, handle payroll, and send invoices all from their phone. You can even upload purchase data with a simple snapshot of the receipt.
Another advantage to QuickBooks Online is cloud storage. Since your data is stored in business servers that are professionally backed up, you won’t have to stress about your data being lost or corrupted.
Make a Smooth Transition with Professional Assistance
Ready to make the jump to QuickBooks Online? You can make the transition easiest on yourself and your employees if you have the help of an experienced professional. BookScrubbers, Inc. helps Austin businesses with transitioning and training in QuickBooks Online. For more information, contact our Austin office today.
Small business owners have a lot on their plate. With all of their responsibilities, it isn’t surprising to learn that many never make a budget for their business, either because they consider it a waste of time, or aren’t sure how to begin and feel too overwhelmed to learn.
What they don’t realize is how important a budget’s role is to business growth and success. Beyond simply saying “spend here, don’t spend there”, a well-crafted budget can have considerable influence over the direction your company takes and its growth potential. Chances are when you know what a budget is worth to your business, you’ll be more enthusiastic about it when it comes time to create one.
A Budget Controls Spending
The most obvious reason for a budget is to limit how much you spend and where. It can be easy in the moment to say, “My business needs this, so I’m going to buy it,” without stopping to consider how that will affect your overall financial situation. Sure, you have the thing you need, but when the next big purchase comes along – something you might need even more – you may find yourself stuck.
Worse, if you allow for too much unmitigated spending, it can put you at risk of debt, even bankruptcy, should an unexpected expense arise. Having a budget lets you keep track of what capital you have to work with, so your books stay in the black.
Budgets Help You and Your Company Prioritize
Allocating fixed resources for specific purposes communicates to you and anyone working for you what is most important to your business. You won’t have to worry about someone sinking money into upgrading equipment that’s still working when you know there are broken tools elsewhere in need of replacement, or letting money leak into advertising costs that isn’t showing a favorable return. Furthermore, a fixed budget ensures that you won’t have multiple departments suddenly reaching into the pot for funding, since they’ll know beforehand exactly what they have to work with.
Budgets Help You Build Strategies and Foster Growth
Some business owners mistakenly believe that budgets stunt the growth of the business by denying them what they need. In fact, the opposite is true – without a budget, your business is likely to flail around ineffectually with no visible growth.
Part of the reason a budget take time to build is that it involves more than doing basic division. A great deal of planning goes into developing a basic structure that will define the budget. This structure will give your business direction, allowing you to make the right purchase and the right improvements at the best timing for your business. It also directs your focus forward, so you become as determined to meet future needs as you are present ones. Having this kind of target ensures that your business is actively working toward tangible goals, and it makes it that much easier to get back on track when something unexpected happens.
Get Expert Budgeting Advice
BookScrubbers, Inc. works with small and mid-sized businesses throughout Austin, providing expert professional CPA services, including budgeting and more. Give your business the financial guidance it needs – contact our firm today.
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