How to Use QuickBooks for Your Small Business


Financial tracking might be the most important component of running a business. Without proper bookkeeping, you won’t know how much money you’re bringing in, how much you’re spending, who you need to pay, who needs to pay you, and what you owe in taxes. 

As an entrepreneur, you might be wondering how to go about tracking everything. Luckily, accounting software is widely available. So, what’s the best bookkeeping software for startups? When it comes to financial organization for small businesses, QuickBooks is at the top of the list. Here’s what you should know before buying the software.

What is QuickBooks?

So, what is QuickBooks, exactly? The accounting software provider caters to entrepreneurs by providing programs and tools for managing day-to-day transactions, accounts payable, and accounts receivable.

Businesses can also use QuickBooks to:

  • Create invoices
  • Pay bills
  • Accept credit card payments and bank transfers
  • Track billable hours
  • Run payroll
  • Generate financial reports
  • File taxes

The services from QuickBooks are geared mostly toward small- to mid-size businesses and solopreneurs. However, some large enterprises use the platform as well.

Product Features

Tax prep and filing • Prepare and file quarterly and yearly taxes for your small business.
Accounting software for small businesses • Manage accounts payable, accounts receivable, payroll, and billable hours.
Financial reporting • Generate monthly and annual financial reports for your startup.

User Benefits

Affordable accounting solutions • You can start a subscription for as low as $25 per month.
Automatic expense tracking • Download and categorize each transaction.
Organized bookeeping Tools • Easily manage all financial components in one place.

Start a FREE 30-day QuickBooks trial today!

Is QuickBooks easy to learn?

At this point, you might be wondering, Is QuickBooks easy to learn? Believe it or not, the accounting software is not just for accountants and CFOs. The interface and dashboards are straightforward, and learning the program doesn’t require a finance degree or any special training.

Skillshare and other online learning platforms offer streamable video courses on how to learn QuickBooks. You can also find several easy-to-follow setup guides, helpful articles, step-by-step tutorials, and QuickBooks training directly on the company’s website. Overall, the software is user-friendly and easy to pick up. While some startups outsource a bookkeeper or have one on staff, many small business owners manage QuickBooks themselves.

QuickBooks for small business

As mentioned above, the most common tasks small business owners use QuickBooks for include invoice management, bill pay, and income tracking. On top of that, you can generate monthly and annual financial reports and prepare to file your quarterly and annual taxes. 

The smart bookkeeping software from QuickBooks goes far beyond your typical spreadsheet. In addition to efficiently managing cash flow and expenses, every aspect of your finances will be organized and accessible.

You also have the option to process payroll yourself or have a QuickBooks expert handle it for you. Additionally, instead of tracking billable hours through manual entry, time can be entered and managed on any mobile device. 

QuickBooks Self-Employed

The bookkeeping platform isn’t just for small businesses –– it’s also an essential tool for solopreneurs (AKA self-employed individuals). If you’re a freelancer or otherwise independently employed, QuickBooks Self-Employed is an excellent accounting resource.

With QuickBooks Self-Employed, you can:

  • Send invoices
  • Pay bills
  • Track your mileage
  • Organize your receipts and expenses
  • Estimate, prepare, and file your taxes

The software automatically tracks your business expenses by linking to your credit card or bank accounts. You can download and categorize each transaction to stay organized and ready for tax season.

Is QuickBooks worth it?

How much is QuickBooks Online, and is it worth it for small businesses? The accounting software company offers four different subscription plans, each with varying tools and features. For each plan, businesses make monthly payments without any annual contracts.

Quickbooks Simple Start plan is $25 a month, and it can accommodate three users. The Essentials plan supports five users and costs $40 per month. Priced at $70 a month, QuickBooks Online Plus allows seven accounts and comes with a wide range of features. The Online Advanced plan is $150 a month. It supports ten or more users and is the most sophisticated membership option.

What users are saying…

Customer service is great, ease of use is great, accessibility is great. Overall, very few complaints. Caitlyn, Software Advice
This software is easy to use and easier to understand. I use it regularly during my work week and it’s absolutely magnificent! Omikka, Software Advice

QuickBooks Online is ideal for small businesses in need of strong accounting, ample features, and mobility. Chelsea Krause, Merchant Maverick

QuickBooks Online is still the best online accounting application for small businesses, thanks to its depth, flexibility, and extensibility. Kathy Yakal, PC Mag

Start a FREE 30-day QuickBooks trial today!

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