5 Perks of Having QuickBooks Pro for Your Business

Published on: 06 November 2017 Last Updated on: 06 November 2024

QuickBooks main function is to simplify accounting in various aspects of a business. Intuit has released various versions of QuickBooks, so that different enterprise can select different versions of QuickBooks for their needs and requirements. QuickBooks Pro is one of the versions of QuickBooks software about which we are going to talk about today. This QuickBooks version is specifically designed for small companies. The features provided by QuickBooks can handle all the accounting functions including accounts receivable, accounts payable, credit card management, and financial reporting. The software is available for $219.95 in the US, this is great because earlier it used to cost $299.95 and now it is even more value for money.

Cash Management–

The software perfectly manages the cash flow and budget for small businesses. You can input the due dates for different kind of payments and the billing information can be added along with that. You can get printed checks directly through your QuickBooks software. For future audits you don’t have to manually record any transaction because all transactions are recorded automatically, this eliminates the need for paperwork.

Expense Billing–

In any type of business there various miscellaneous expenses like small purchases, meals, business travels, etc. These expenses may or may not be included in the client’s total bill, but because of their small amounts, they are disregarded and in the end, it is billed to the client only. In QuickBooks, you can maintain such record of all the expense and later go to them at the time of the billing. This will save some of the expenses for the clients and they won’t be any quarrel and even if there is, you would have a complete record which you show them. You can directly manage payrolls and taxes from the software itself.

Invoices–

Wouldn’t it be great, if the software does work and saves up a whole lot of labor and that too without any error that may happen in the case of human involvement? Well, QuickBooks does exactly that, it automatically tracks the sales and creates receipts and invoices any time you want, like if you have to send an invoice to the customer. The type of feature is very helpful if someone is buying the QuickBooks for retail business. You can even subscribe to QuickBooks checkbook solution, this provides with the ability to scan and deposit the checks into the program without manually entering the data.

Reporting–

Through QuickBooks, you can create various types of financial reports. These include yearly incomes, trends, expenses, and other documents. You can even create an excel sheet, in case you have to send the data to the client.

Simple user interface–

This one is obvious, the QuickBooks software makes every accounting activities very easy to complete and even does some of the work for you. There are various tutorials also on YouTube and on Intuit’s website, with their help you can explore all the useful set of features that QuickBooks provide.

Planning- QuickBooks is advance planning too also for adding accounting data and also for planning your sales data, bills and other long term operations which your company performs. QuickBooks Pro can even produce tailored reports for your clients, managers, etc. which can provide you an informed view for your future planning decisions.

Business Positions- with the QuickBooks Pro, you can generate a complete report of your company’s profit and loss with the profit and loss statement. You can also find out your top customer list at the end of the financial year and even after 6 months.

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6 Ways To Make Sure Your Finances Are Seamless

In case you find yourself in a place where you don’t have any financial goals, for neither the short term nor long term, it can lead you to a rough patch. It is essential to have proper financial plans if you want your finances to be seamless. When you don’t have a goal, you end up spending more than you should. In the long run, this leads to serious financial setbacks. To ensure a smooth financial situation, you need to utilize relevant tools to better manage your finances. Any financial emergency can emerge anytime, like a health scare, an accident, inflation, losing your job, a large purchase, urgently fixing something, etc., and you must prepare yourself to manage your finances in such unexpected situations. Here Are six Prime Tips That Will Ensure Your Finances Are Always Seamless: 1. Increase Your Knowledge Your finances are not something you have to deal with once or twice. It’s a part of your daily routine. Instead of focusing on shortcuts and quick solutions for financial stability, take steps that will help you in the long term. The best way to ensure seamless finances is to learn about them in the first place. Increase your knowledge about financing, budgeting, saving, investing, getting out of debt, etc. There are a lot of finance books written by experts that you can read to deeply understand all the concepts and tools related to finance. Another option is to take online classes and earn certifications. You can find several online options to prepare for any certification. For example, Wiley CFA exam prep will help you find all the relevant course material, online lectures, quizzes, etc., that will help you prepare. This way, you will understand things at a deeper level, and not only will you benefit yourself, but you will be giving financial advice to others soon. 2. Make a Budget Making a budget is the primary step to reaching your financial targets. Not only do you need to make a comprehensive budget, but you also have to stick to it. Make it a habit to check in with your budget. Make a monthly budget and thoroughly go through what you make and what you spend. It is clear what you make every month, but how much you spend is a bit complicated as there are many hidden expenditures, too. Write down all your expenses in detail, like fixed costs such as phone bills and rents, etc., savings, expenses on groceries and food, expenses on hobbies and entertainment, etc. Set a target of which extra expenses you want to reduce, which positive spending habits you want to continue in the future, how much you need to put aside for paying bills or saving purposes, etc. 3. Set Realistic Goals This advice is applicable for attaining both short-term and long-term goals. Never make unrealistic plans that you cannot keep up with for a longer time. The reason is that when you fail to achieve such unrealistic objectives, you give up completely and stop trying. First, decide what your goal is, and then make a list of practical ways to achieve it. Whether you want to buy a house or a car, pay off a student loan, reach a saving target, etc. Whatever the goal is, make it realistically achievable. For example, it is unrealistic to set an objective of paying $40,000 of debt within a year when you earn $30,000 annually. If you do want to pay off your debt, set a realistic and achievable timeline and take practical steps for it. You cannot vow to never eat out again because you want to save money for a big purchase if you currently eat out five times a week. 4. Assess Your Expenditures You probably don’t remember the multiple subscriptions you made for different mobile applications or streaming services. And you don’t remember them because you don’t use those services. However, a sizable amount gets deducted from your bank account in the name of such subscriptions. This is just one example of how important it is to deeply analyze your spending habits. If you are no longer using a service, cancel its subscription. If you do not watch TV much often, cut the cable. Assess if you pay your bills on time each month, or do you neglect them until it’s too late and you have to pay extra late fees? Are you eating out way too frequently? Do you buy things in bulk just because they are on sale, and you don’t even use them later? It’s crucial to objectively analyze your expenditures, where you are overspending, or where you do not need to spend anything at all. 5. Create An Emergency Fund You need to set up an emergency fund for any uncertain incidents. Initially, start with saving up to $500 to $1000 for your emergency fund. When you successfully meet this target, gradually keep increasing the amount that you put aside in an emergency fund. Financial experts suggest saving an amount equal to at least three months’ worth of expenses. And with time, increase this amount to six months’ worth of expenses. This way, you will have enough money to cover necessities and any financial shock. Find out something in your expenses you can give up to increase your savings, or sell unused or old things on eBay or a yard sale, etc. Add money in emergency funds by doing some part-time jobs, freelancing, etc. 6. Invest Your Money Be strategic and invest your money to earn a return on it. This way, you will be able to achieve financial stability. When you invest, you are making money while sleeping. You can invest in financial instruments like bonds, stocks, real estate, mutual funds, etc. The annual rate of return on investment in stocks on average is 6%, 7%, or even 10%, depending on inflation. This way, investing your money in the stock market can give you a good passive income and financial security. You can ask the experts or friends and family for investing advice. While there are risk factors present, you can avert them by spreading your investments into different financial assets. If you are searching for ways to have seamless finances, you need to develop some long-term habits that will positively influence your financial situation. Here are six things you can do to achieve your financial goals smoothly. Read Also: Choosing The Right Financial AdvisorHow to Start Your Career as a Financial Advisor?The Importance Of Saving: The Bedrock of a Bright Financial Future

What Will A Financial Retirement Plan Including Gold Look Like?

Planning doesn’t stop once you retire. In fact, you need to increase your efforts when the day arrives to maintain security. Security can look different for each retiree and their investment portfolio, but one commonality that many agree on is ensuring that the assets are diverse. Gold and other precious metals keep a retirement portfolio diverse, meaning the assets are not all tied up in one class, nor do they all correlate with the market similarly. A gold firm, check metal-res.com website for details, will set an investor up with physical gold or a gold IRA to meet plan diversity needs. A financial counselor or advisor can further assist investors by helping strategize for security up to the age when they decide to retire and after. Let’s examine what that strategy might look like. What Will A Financial Retirement Plan Including Gold Look Like The objective when planning for retirement is achieving security. Even after retiring, retirees must continue strategizing to ensure they don’t lose it. When building an investment strategy, a primary method for establishing a secure portfolio is through diversity. Many investors accomplish this by adding a physical commodity like precious metals or gold, boasting as an excellent long-term investment. That would make it ideal for a retiree. Adequate planning for an investment portfolio would include reassessing each year until reaching retirement and after since goals and circumstances change. One consideration is determining an appropriate age to retire. A problem for some is becoming harried about retiring, tending to jump ship a little too soon without considering the consequences. These retirees are often unprepared, with a few finding themselves heading back to work. The priority after the fact is following the guidance of a professional financial counselor for the best way out of the pitfall they find themself in. Other investors are relatively on the mark, with planning working in their favor thus far. Still, striving for security means reassessing the strategy and looking further into the future to discern how the goals will need to change as their lifestyle does. What steps should you follow to ensure optimum security as you head into retirement? Let’s learn. Reassess your needs and what you hope to achieve Each year before retiring and continuing after retirement is reached, it’s wise to consult with a financial counselor to look over your finances, see where you currently stand, and what you see as goals moving forward. A counselor is in a position to offer advice on where to make adjustments to align your strategy with new objectives. As a retired investor, you’ll be less risk tolerant with your investment choices. The idea at this stage is to keep a steady flow to withdraw from instead of being intent on amassing a fortune in wealth. You will still want to protect your wealth, making a case for keeping that little bit of gold in your holdings. The precious metal will provide a store of value and balance the holdings, reducing risk even further. What is your spending plan? The recommendation with an established spending plan is to take no more than 4% from retirement savings in a given year. That doesn’t mean sticking with that plan will always be possible, particularly if emergencies crop up, medical expenses, and critical household needs. When working with a financial counselor or advisor or overall planning for retirement, these things need to be accounted for in the spending plan. That means anticipating that this will be an expense, so you’re prepared for emergencies at any moment. No one can plan when an emergency might occur, but you can ensure that you have money in the event there is one. That’s the urgency with the need to have a spending plan lined out when you retire. No risk isn’t reasonable either You’ll be less tolerant of risk when you retire, perhaps a bit more conservative with your investment choices since recovery takes time when the market spirals. Still, you don’t want such a “safe” portfolio that inflation nibbles it away. For some, retirement can go on for a couple of decades, perhaps more, depending on when you stop working. These savings need to carry you through that timeframe. The idea is to have a healthy blend of investments that will continue to grow throughout the years. Plus, if you have that sparkle of gold diversifying your assets, the precious metals will help to reduce your risks, protect your wealth, and stabilize your holdings. It will take careful planning and adequate guidance to discern investments that are neither too great of a risk nor too minimal but instead offer excellent growth potential. Some ways to improve funds coming into the household include stocks that pay dividends and setting up annuities. These will be the closest thing to a steady, secure flow of income after leaving the workforce. Open for details on how to retire with “millions.” Final Thought Securing retirement, determining when to retire, and planning looks different to everyone. A common denominator is protecting the wealth that you do accumulate. That usually means reducing the risk of loss. Investing in a precious metal like gold can do both these things and more. It’s also a consistent investment, steady and long-term. When reassessing your plan and goals plus your lifestyle changes each year, the only constant that could remain true at any age is possibly your gold asset. Read Also: Smart Ways to Invest in Gold How To Start Your Investor Journey: 5 Credible Options To Explore What Investors Should Know about Investment in Gold and Silver Assets

How Do You Avoid Negative Equity On Your Next Car Loan?

Car finance allows drivers to spread the cost of a new or used car into affordable monthly payments. By borrowing money from a lender, drivers can purchase a car and pay the lender back in monthly installments until the end of the agreed term. Negative equity is a term you may hear often with car finance, and for many drivers, it is best to avoid it. Find out how you can ensure you don’t end up with negative equity and what to do next if you find yourself in this situation. What Is Negative Equity? In car finance, negative equity is when you owe more on your loan than your car is worth. Negative equity can be known as outstanding car finance or an upside-down loan which means if you sold your car to clear the loan, you still wouldn’t have been able to pay the balance off. For example, if your settlement figure was £6,000 and your car was worth £4,000, you would still owe the finance company £2,000. Usually, negative equity happens when the value of your car drops quickly during your agreement. This is especially common with brand-new cars, as they can lose up to 50% of their value in the first few years of ownership. Here, if you want to trade in your car but have negative equity, you will need to repay the loan amount before you take a new loan to purchase a new vehicle. What Are The Reasons For Negative Equity? Basically, a negative equity situation happens for a variety of reasons. For instance, an upside-down situation in regard to a car loan can happen due to the following reasons: You might have a loan for a longer term. Apart from that, your vehicle has also gone through depreciation since your purchase. There is a no-money-down auto loan in your case, or you might have paid more than the sticker price of the vehicle due to the inclusion of add-ons. You might have purchased an expensive vehicle, which might not have the same value that you expected during the purchase. Your debt regarding the loan is of a high rate of interest. Hence, most of the money that you are paying is going to the interest as compared to the principal. Depreciation is also a major factor in this case. Basically, the term rate of depreciation shows how fast an asset loses its value. Generally, a car loses almost 20% of its value in the first year itself. Furthermore, the process of depreciation continues to happen in the following years until the car fully loses its value. Why Is Negative Equity Problematic? Negative equity within your car finance deal can be an issue because you will still owe the lender money even if you sell your car. In some cases, you may not be able to sell the car, too. If you find your circumstances have changed and you can’t afford to carry on with the loan, you may be charged additional fees for missed or late payments, and it can lead to much more serious financial consequences. How Do You Avoid Negative Equity In The First Place? Before you take out a car finance deal, consider these factors below to help prevent negative equity from occurring: Only Borrow What You Can Afford. If you’re in a position to buy a new car on finance, it’s important you use a car payment calculator first to see how your loan could look and make sure it is affordable. This may mean choosing a used car over a brand-new car, as older cars usually have already depreciated at their fastest rate in previous years. Put Down A Larger Deposit. A larger deposit contribution at the start of your finance agreement can help to reduce your loan amount. A smaller loan can help to reduce the risk of your car being worth less than how much you owe. Choose A Slower Depreciating Car. If you want to avoid negative equity, you could consider choosing a car that depreciates at a slower rate. Cars that hold their value will be less likely to leave you out of pocket at the end of your car finance deal. Make Higher Payments. Negative equity can often be associated with PCP deals as they offer low payments and a large balloon payment at the end of the deal. Opting for a deal such as a hire purchase, which aims to pay off the value of the car at the end of the deal and has higher monthly payments, can help avoid any outstanding finance. How Do You Get Out Of Negative Equity? There are different ways of getting out of negative equity. However, based on your current situation, you will need to choose which way works the best for you. Basically, you will need to choose the one that goes with your budget. Furthermore, it also depends on whether you want to keep the vehicle or not. Hence, to get out of negative equity, make sure you do the following: 1. Start By Paying Off The Loan The most obvious way to pay off your negative equity is to accelerate your payment. Here, the faster you pay your loan off, the sooner you will be able to deal with the debt. One of the best ways of paying off the loan is to pay extra on the principal part. Apart from that, you can also consider paying a lump-sum amount beforehand to avoid paying interest for a longer period. Hence, you must consider reviewing your budget and savings from time to time to pay off your existing debt. 2. Loan Refinancing Here, you might consider taking out a new loan to pay off your existing debt. This will help you in getting out of your upside-down car loan faster. This works even better if you can avail of a new loan with a lower rate of interest. 3. Selling The Vehicle If you do not need the vehicle, you can consider selling off the vehicle. This way, you can get a lump sum of cash, which will allow you to pay off the loan. Furthermore, if you sell the vehicle to a private buyer, you will have the option to negotiate the price further. This will enable you to get more cash, which will further help you to pay off the negative equity. 4. Surrendering The Vehicle If you handle the vehicle to the lender, you can get out of the negative equity, too. In addition to that, if you do a voluntary surrender, you will be more likely to get out of the negative equity. Summing Up: Getting Out Of Negative Equity If you’ve not been able to avoid negative equity and need to know how to get yourself out of it, follow the top tips below: If you can still afford your current car finance payments, it is recommended you stick with the deal you have at the moment. In many cases, your deal will balance out over the duration of the loan, and the negative equity should be settled by the time you reach the final payment. You could pay off your negative equity by paying the lender in cash. You can hand your car back to the lender through Voluntary Termination. If you’ve paid half of your agreement off, you could return the car to the lender. It’s always best to speak with your lender first, though, to see how they could help you. Do you have any more ideas to add? Consider sharing in the comment section below. Read More: Proven Strategies To Captivate Buyers And Sell Your Business Successfully Get On The Online Market With The Best Web Design Experts In Brisbane 8 Tips For Tech Industry CV Writing That Highlights Your Skills And Experience

5 Perks of Having QuickBooks Pro for Your Business

Cash Management–

Expense Billing–

Invoices–

Reporting–

Simple user interface–

Is Fixed Deposit the Right Place to Invest Post-Demonetization?

Investors Agree: Gold And Silver Is The Way To Go

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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6 Ways To Make Sure Your Finances Are Seamless

What Will A Financial Retirement Plan Including Gold Look Like?

How Do You Avoid Negative Equity On Your Next Car Loan?

5 Perks of Having QuickBooks Pro for Your Business

Cash Management–

Expense Billing–

Invoices–

Reporting–

Simple user interface–

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Is Fixed Deposit the Right Place to Invest Post-Demonetization?

Investors Agree: Gold And Silver Is The Way To Go

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Follow Us

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