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Nobody enjoys spending more time keeping books and records of their business than they have to. It’s tedious and often time-consuming. However, thanks to the wonders of modern technology, small businesses can now use QuickBooks to automate much of their bookkeeping.
However, if you’re just getting started with QuickBooks to organize your bookkeeping, getting up to speed can be difficult. Even if you’re an expert with QuickBooks, you could miss out on crucial tips and tactics that could save you hours each month balancing the books and dealing with typical issues.
Let’s look at the top 5 time-saving tips when it comes to QuickBooks Online that can help you organize your finances more easily so that you can save a lot of your time and spend it with your family and friends.
1. Phone-Receipt Capture Feature
You can upload receipts or bills in a few different ways, but the most time-saving and easy way to use it is by using your phone. You can capture and upload receipts and bills from your mobile device using the QuickBooks Online mobile app, and this feature saves a lot of your time and effort.
As QuickBooks Online is cloud-based, this will be a game-changer in many ways for the organization of your books for your company. This not only gives you access to your files and information anywhere and anytime, but it also comes with other features like doing remote work without sending files, automated frequent cloud backups, increased security, rapid vendor IT support, compatibility across all devices, and platforms, and much more. By using this feature, you can do your work easily from home, which will help you spend most of the time with your family or even while you are on vacation!!!!
3. Online Bank Transactions
One of QuickBooks Online’s most useful and time-saving services is Online Banking, often known as Bank Feeds. QuickBooks automatically uploads and organizes bank and credit card transactions when you connect an account. You don’t have to manually enter transactions; it feeds in the information itself. All you have to do is to make sure the categorization is correct, approve the transaction and it will complete your transaction in seconds rather than waste your time doing manual entries. The fewer steps, the fewer chances of error so by eliminating manual entries you have decreased the chances of errors by 50%.
4. Get Paid Faster
There are different ways to get paid faster using QuickBooks online. You can apply to accept credit cards, but the fastest and most reliable way is Automated Clearing House (ACH). ACH payments allow you to send money from one financial institution to another without using wire transfers, paper checks, cash, or credit/debit cards.
The advantage of using ACH is that ACH payments can take anywhere from 1 to 5 business days to complete, depending on which banks are involved in the transaction. Customers that are new to QuickBooks Payments and have an active account are eligible for next-day ACH deposits but you have to be eligible. By using this feature instead of waiting for 30 days to get paid, you can easily get money deposited into your account within 1 to 3 days!
5. Send documents through QuickBooks Online
You can attach documents to a variety of transactions in QuickBooks Online including general journal entries, credit memos, bills, and credit card charges. The advantage of sending documents through QuickBooks is that if you are on a vacation and you need to send information to your bookkeeper or accountant, you can easily and safely email with an attachment of this document through QuickBooks online whenever you want; wherever in the world you are, just as long as you have a secure wifi connection.
QuickBooks is a software program that can help you manage books for your company much easier. However, learning all the ins and outs takes time. These top 5 time-saving tips when it comes to QuickBooks Online can hopefully help you get started, enhance your knowledge, and save time on important activities so that you can balance your work life and spend most of your time with friends and family. But if you still have any questions regarding this topic, you can contact us on our Facebook page Nave Bookkeeping, LLC Nave Bookkeeping, LLC, or visit our website website. We would be happy to help in any way we can.