7 best Quickbooks accounting features for small businesses, start-ups and SME’s

QuickBooks is an accounting software which is very popular among small businesses, startups, and SME’s. Quickbooks provides tools for daily accounting, income and expenses tracking, invoicing and billing, and financial reporting etc. Here are 7 best Quickbooks accounting features Quickbooks provides for small businesses, startups, and SME’s:

1. Chart of Accounts: Quickbooks provides chart of account feature to manage the available/created accounts ledger. It is very useful for editing and modifying different account information. It shows the debit or credit balance of all the accounts. It lists ledger accounts available of business like bank account, expense account, income account, fixed assets account, current assets account, current liability account, long term liability account, user equity account, etc. with proper classification and balances of account.
2. Bank Feeds: Quickbooks provides banking feature to manage all bank accounts. Anybody can track their income and expenses using this feature of Quickbooks. User can manually add bank account as well. Quickbooks provides a feature called "Bank Feeding" which means if a user adds his account then Quickbooks import user's every transaction feed from the bank so that user don't have to enter/record any transaction manually, the user just have to review every transaction. Feeding features also work on credit cards. Users can write checks by using this banking feature.
3. Invoicing: Quickbooks provides invoicing feature for the sale made by a business to a specific customer. The user has to manually record this invoices for the customers. By this feature, the user can track his total sales in a specific period of time as per requirement. For bulk transaction entry user can use "Batch Enter Transactions" feature.
4. Billing: Quickbooks provides billing feature for the purchase made in business from a specific vendor. User has to manually record these bills from vendors. By this feature, the user can track his total purchase of raw material or cost of goods sold (COGS) in a specific period of time as per requirement.
5. Financial Reporting: Quickbooks provide financial reporting feature to know the current financial position of the business. It shows that your business is getting a profit or not. It also shows the current balances of all assets and liabilities at a specific date.                                                                                                                                                    Balance Sheet: It shows all balances of all assets and all liabilities like fixed assets, current assets, current liabilities, long term liability, etc.                                                                                                                                                    Income Statement: It shows the profit and loss of the business. It includes all income incurred by the business and all expenses made by the business.
6. Payroll Management: Quickbooks provides payroll management feature for the payment of the payroll for the employees. Payroll processing is a very complex process but with Quickbooks, payroll processing becomes easy. It helps to maintain all payroll related data like basic pay, allowance, attendance, etc and make payroll processing simple.
7. Customers and Vendors Management: Quickbooks provides the feature to manage all business customers and vendors. By this, it becomes easy to track all bills and invoices for different customers and vendors. By using this feature you can edit and modify customers and vendors information.

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