2018-03-12 20:41:03 Accounting & Taxes English Excel spreadsheets have been an integral part of every business. But managing accounting on Excel carries certain disadvantages. Intuit... https://quickbooks.intuit.com/in/resources/in_qrc/uploads/2016/12/Why-Small-Businesses-Should-Migrate-to-the-Cloud-featured.jpg Accounting on Excel 8 reasons why QuickBooks is ahead in the accounting game

8 reasons why QuickBooks is ahead in the accounting game

3 min read

There’s no doubt about it, Excel spreadsheets have been an integral part of every business, and the primary tool of everyone who kept ledgers of numbers.

But let’s face it, we’ve all gotten lost somewhere in between several spreadsheets, missed minor errors that messed our calculations, been helpless without the formulae and shortcuts and, frankly, found the infinite cells unattractive.

Then, there’s QuickBooks, which has been designed to ensure that anybody with zero accounting experience can manage their accounts on their own. Here are 8 reasons why QuickBooks is ahead of Excel in the accounting game:

1. #UnlikeExcel, you don’t need to know accounting, short cuts or any formulae.

The thing is, Excel wasn’t made for accounting. It is a great tool to keep and manage records of any kind. However, keeping your accounts on Excel as you handle your business can be stressful, especially if you aren’t familiar with using Excel formulae. With QuickBooks, all you need to do is input a few details, and let the accounting take place automatically.

2. #UnlikeExcel, access your financial data anytime, and from anywhere.

Excel can be quite versatile, but its accessibility is another story. Imagine trying to add an expense to your spreadsheets on your way to the flight terminal. With QuickBooks, despite where you are, you have the choice to access your financial data at any time on a computer, laptop, mobile phone or tablet.

3. #UnlikeExcel, stay on the same page and collaborate better with your team.

Say you’ve got your 1st quarter’s accounts on spreadsheets. You share these with your Accountant. They modify them a little. Now, there are 2 copies. And what if your co-founder also has a spreadsheet they’ve been maintaining? It starts to get really complicated. With QuickBooks on cloud, everyone gets to work on the same books, and giving access and tracking changes are a breeze.

4. #UnlikeExcel, create professional invoices and customise them.

Are you one of those businesses who stores a few invoice templates you like using? If you are, chances are high that you’ve wished your invoices could look professional. With QuickBooks, you can create an invoice and customise it with your brand logo and colours in a template of your choice, all in a few minutes.

5. #UnlikeExcel, track your invoices and get them paid on time.

When you send out an invoice on a project you just concluded, do you call your customer to notify them that you sent the invoice? Do you keep checking your bank account? We understand that getting paid on time is a wonderful thing and that’s why QuickBooks lets you see when your customer sees your invoice and when they pay you.

6. #UnlikeExcel, schedule recurring invoices to go out on time.

In your business, there surely are a few vendors or customers you bill at regular intervals. These invoices have to be sent on time for you to keep your money coming in on time. With QuickBooks, you can schedule those recurring invoices to go out at timely intervals, which your favorite spreadsheet templates won’t help you do.

7. #UnlikeExcel, bring in your bank transactions, and stay in control of your cash flow.

Remember the pain of entering expenses on Excel spreadsheets at the end of the week or the month? You must save bills, receipts and invoices, and manually enter every single detail without making a mistake. With QuickBooks, you can connect to your bank account, download transactions, categorize them automatically into income and expenses and see your cash flow instantly.

8. #UnlikeExcel, visualize your business performance with in-built, customizable reports.

You might love the graphic reports of your business performance drafted on Excel, but that takes time and requires some Excel skills. Imagine if you get to see visual graphics of how your business is doing in an instant! That’s what QuickBooks does for you. It offers you a bunch of in-built reports that are customisable, so, you don’t need to make reports when you need them.

 

Whether you’re a freelancer, or the owner of an up-and-coming start-up, having control over your finances has become an essential requirement. You can sign up for a free 30-day trial of QuickBooks to experience how we take accounting beyond rows and columns. You will see that the future of accounting is for those who don’t back out – the entrepreneurs, like you!

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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