As a busy entrepreneur running an accounting business, you know that every precious work hour counts. It’s also important to have up-to-the-minute financial reports. The Square mobile payment device can enable you to accept credit card payments from anywhere, as long as you have an internet connection. And what’s more, there’s an app called Sync with Square that connects your QuickBooks Online software with your Square data so the two programs can exchange data. This integration can save you many hours each month.
Here are the top 10 ways that connecting QuickBooks Online with Sync with Square can help make your accounting tasks easier.
1) Automated Data Entry With Every Transaction
Once you swipe a credit card with the Square device, you can automatically transfer the transaction data into your QuickBooks Online software accurately. You can perform this essential task without even touching your keyboard. This feature alone saves you hours each day and drastically minimizes data entry tasks.
2) Instant Harmonized Sales Tax Calculations
Because the Sync with Square app automatically generates sales tax, you don’t have to spend time learning the tax rate difference between Alberta and the Yukon. Sync with Square connects to QuickBooks Online, calculates the sales tax, and feeds the information directly into your accounting books. Because it’s automatic, there’s no chance of making a mistake.
3) Payments Are Completely Mobile
Not only can you take your Square device everywhere you go, with QuickBooks Online and Sync with Square, your financial information follows you anywhere you bring your smart device. Now, you can check your financials while you’re watching your son play hockey or waiting in line for a coffee at Tim Horton’s.
4) Accepting Credit Cards Is Simple
Since Square is so easy for anyone to use, from busy doctors to creative artists, more small businesses can take credit card payments than ever before. Use Square to accept credit cards at your office or when you’re on the go. Your customers will like the convenience and enjoy getting the points for using their rewards credit cards.
5) You Get Paid Faster
Because you can travel with your Square device, you can process credit cards on the spot and the money goes directly into your account. It also saves your customers time because they don’t have to remember to write a check, which also means you never have to hear the words, “The check is in the mail,” again.
6) You Don’t Have to Send Out Monthly Invoices
Because payments are taken at the time of the sale or the service, you never have to worry about sending off invoices at the beginning or end of each month. This is a huge time savings.
7) No Need to Spend Time on Bad Debt Collection
Because clients pay when you see them, you no longer have to worry about customers who forget to pay invoices. That also means that you don’t have to send out reminder letters or add late charges to invoices.
8) Tax Time Is a Breeze
With fresh annual, quarterly, and monthly reporting, you can drastically minimize the year-end paperwork that’s required to get ready for tax season. Sync with Square’s data automation has all of the accounting data you need to file your taxes, and all of the information is up to date.
9) Paperless Transactions
Say goodbye to file folders full of little pieces of paper cluttering up your office. With Sync with Square, the app records each transaction electronically, so you don’t have to keep a paper trail.
10) Peace of Mind
When business owners and clients know where they stand financially, they sleep better at night. The up-to-the-minute reports in QuickBooks Online enable you to make business decisions based on real data. By removing the guesswork, you can focus more on your customers and growing your business. Both the Square device and the Sync with Square mobile app are easy to set up and use, and work with both iPhone and Android phone systems. You can find Sync with Square and many other useful apps that work with QuickBooks Online in the Intuit QuickBooks Apps Store. Improve your cash flow with invoices, payments, and expense tracking. See how much cash you have on hand with QuickBooks.