QuickBooks accounting software is now considered the world’s largest self-employed and small business ecosystem. It connects more than 7 million self-employed individuals, half a million accountants, and roughly 5,000 app developers. QuickBooks is leveraging the power of this network of customers, partners, and developers to create a smarter business for small business owners. Let’s take a look.
Managing Cash Flow
For small businesses owners, money is simply the only way to survive. With that said, cash flow is the most important aspect and often the biggest struggle for small businesses. Whether its getting paid on time, facing difficulties obtaining a loan, or struggling with payroll, three innovations developed by QuickBooks can help with money management.
Roughly 70 percent of new businesses need funding in the first five years of operation, and only 23 percent are able to obtain it. With QuickBooks Capital, the lending process has become smoother. Developers have created a breakthrough credit model built on 26 billion QuickBooks data records, which will assist small businesses in accessing loans easier.
Intuit has also designed Quickbooks Payments so that small businesses can get paid two times faster. By creating a “payments-enabled” invoice in under a minute, expenses and mileage is populated automatically. Customers then have the flexibility to pay online by credit card or free bank transfers. In addition, PayPal and Apple Pay will also be options of payment in Quickbooks as well as a new integration with Google to send invoices from within Gmail!
QuickBooks Full Service Payroll now offers 24-hour Direct Deposit, which enables small businesses to hold onto their cash longer, and still have their employees get paid before the weekend.
Collaboration and Connection
The QuickBooks network is connecting self-employed individuals and small businesses to customers, employees, and partners needed to succeed. Awareness, access, and control is constantly being improved and flourishing.
Let’s face it – the secret sauce behind a smarter business and its success is the accountant who works behind the scenes. Intuit has reimagined the ‘Find-A-ProAdvisor’ platform so that it connects around 1,000 small businesses to accountants every day worldwide. With QuickBooks Online Accountant, clients can be managed in one place. The Practice Management workflow solution gives them one place to grow and manage all their clients and run their practice, tackling books, tax, payroll, payments, and third-party apps.
Speaking of applications, most small business owners use more than 15 different apps to run their business. With Intuit’s App Store providing more then 500 apps that integrate seamlessly with QuickBooks, its even easier for accountants to integrate information into their clients’ QBO books.
Create a smarter business with QuickBooks, and we can help you get started. We are Advanced Certified QuickBooks Proadvisors and will assist your business with cash flow management, app integration and provide a seamless transition to a better organized system. Contact us for help!