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Get the most out of your free QBO subscription for your firm

Written by Aaron Patrick, Head of Accounting, Boffix UK.

 

 

We know during these unprecedented times that many accountancy firms are struggling with cash flow and a clear insight into their financial transactions. Many are looking at their costs and how to create efficiencies.

 

As QuickBooks users, your firm gets its own QuickBooks subscription free of charge. Use the Your Books feature to manage your firm's finances.

 

Invoicing, payments and expenses

 

The customer list in “Your Books” and your client list are synchronised so each of your clients is treated as a customer in Your Books. This makes it easier to invoice your clients using QuickBooks Online Accountant.

 

You can link to third-party payment solutions, like GoCardless, to offer more payment options to your clients. With GoCardless, you can even set it up so any recurring invoices are created automatically each month.

 

With the receipt capture option you can also automatically reconcile expense and bills in QuickBooks.

 

Managing clients who are struggling to pay

Keep track in the notes section of client payments so you and your team are always up to date with the situation of each client. You can use the new auto-reminder feature in QuickBooks to follow up any unpaid invoices.

 

Access for your team

You have complete control over what client information each of your team members can access. Just set the options when you add a team member to Your Books.

 

Open Banking and data automation

 

QuickBooks is now connected to even more banks. Besides all the great features that comes with that, for accounting firms it also gives you the option to allow your staff to make payments. It makes expense management much easier. The auto-add function makes reconciliation immediate and gives you real-time data every time you sign into QuickBooks.

 

This makes your dashboard – and your reports - even more powerful.

 

 

The overview screen is something we rave about for our clients, but it's useful for your practice also. The idea that we can quickly have a look and see if there's any ageing creditors or ageing debtors is really useful! The business performance area as an accountant, we're going to get comparable and valuable data coming into our practice.

 

Save even more of your time and get your clients connected too.

 

Apps to fuel your business

The right app can make your practice more efficient so check out the App Store in QuickBooks. Apps can help you keep on top of your to-do list or even track potential new clients automatically.

 

With the Zapier app you can set an action in QuickBooks – such as add a new client – and it will send out an onboarding email.

 

TSheets is free to QuickBooks ProAdvisors and lets you keep track of your team’s hours even those who are working from home.

 

The advanced payroll solution within QuickBooks is also a useful way to run your firm’s payroll. The HR and Employee feature lets you automate tasks like holiday requests and sick days directly inside QuickBooks.

 

In the Work app, you can create templates for staff to make sure that every task is completed when doing a job, such as when you onboard a new client.

 

Next year’s budget and staff costs can be set in the Budget section so you can plan for the future.

 

QuickBooks mobile app gives you access to all of this and more wherever you are.

 

Summary

 

With all of the features available in QuickBooks, and the ability to automate much of your work, you’ll be able to run your firm more efficiently.

 

  • Set up recurring invoices with GoCardless
  • Use receipt capture and bank connections to get real-time data
  • Make life easier with apps to stay on top of your work

 

QuickBooks is committed to supporting you and your firm by providing you with the tools and advice to help you make the right decisions for your practice.

 

Need to get in touch?

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