Managing finances can be the most challenging part of running a business. For large corporations, teams of accountants and number crunchers handle all those things. As small and medium-sized businesses, those responsibilities fall on business owners and employees who may not have enough time to handle all financial tasks or engage in debt collection of overdue invoices.
Regularly review your AR Aging Reports to keep track of outstanding invoices. Go to the “Reports” menu, select “Customers & Receivables,” and then select “A/R Aging Summary” or “A/R Aging Detail.” This report shows how long invoices have been outstanding.
| Already using Quickbooks? Have unpaid bills? Need to transfer your unpaid accounts to a debt collection agency? Contact us We will show you how easily you can submit accounts for collections using a simple online form.
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QuickBooks allows you to send payment reminders to your customers. You can automate sending the invoice reminders process or do it manually by going to the “Customers” menu and selecting “Payment Reminders.QuickBooks online and desktop versions are great products. QuickBooks offers options for online invoicing and payments. Enabling these options can make paying easier for your customers and may result in faster payment.
Here is everything you need to know about this product.
Like Hiring an Accountant
QuickBooks helps businesses manage their finances in an easy yet comprehensive way. It has incredible features to help you create a profitable business day-to-day while keeping an eye on tax time.
QuickBooks offers almost every feature your business could need, including managing bills, income, expenses, cash flow, invoices and payments, paying employees, tracking time, inventory, or project profitability while maximizing your tax deductions. Working with QuickBooks online is truly like hiring an on-staff accountant.
Versions for Different Businesses
QuickBooks knows that different types of businesses have different needs. That is why they offer different packages for different types of businesses. They have packages for businesses that fall into four different buckets. They offer a simple start-up package to get new businesses up and running efficiently as well as a package designed specifically for non-profit organizations so that they can meet their unique accounting challenges.
QuickBooks also differentiates professional and field-services businesses from ones that sell tangible goods. For retail-type businesses, the software focuses on sales and inventory. For the services businesses, it is concentrated on project profitability and job costing. These important distinctions help QuickBooks online be the best solution for your accounting needs.
Making Life Easier
Unlike some all-in-one software solutions, getting QuickBooks online up and running and using it is quite easy. There are different levels of plans so you can get as many or as few features as you need and you can get QuickBooks up and running in a matter of minutes. It is compatible with many common business platforms like PayPal, Shopify, Square, and more. Also, if you are currently running a software version of the QuickBooks, the tech support staff will help you seamlessly transition.
QuickBooks online also gives you free access to a mobile app so you can have the entire backend of your business in your pocket 24/7. The app allows you to check your finances from the field, create estimates, and run reports in real-time. You and employees can even snap pictures of receipts to track expenses right from the app. It is no wonder that QuickBooks advertises the fact that 98% of their users say this product makes running their businesses easier.
Conclusion
To paraphrase the title of an old Elvis Pressley album, millions of QuickBooks users can’t be wrong! There is a reason that this is the #1 small and medium-sized business accounting software platform in the world. QuickBooks does everything your business will need to succeed.