Make the most of QuickBooks with these 4 tips from accountants

Whether you're a seasoned accountant or a small business owner, mastering QuickBooks can unlock growth and success. It can handle everything from bookkeeping and day-to-day financials to invoicing and projections, and even offers live assisted bookkeeping when you have a question. Leveraging all of these features in tandem will make it all the more powerful.

So what tips and tricks can help you make the most of QuickBooks? We asked four accountants what they recommend to their clients, whether they’re looking to refine current practices or just starting out. Check out their thoughts below.

Tip 1: Keep up with your bookkeeping

“My number one tip whenever I’m talking to small businesses — if they listen to nothing else that I say — is to keep up with your bookkeeping,” says Keila Hill-Trawick of Little Fish Accounting in Washington, DC. “[You’ll be] better equipped to make decisions for your small business right now instead of later.”

And diligent bookkeeping isn’t just about smart small business decision-making and financial success. It will also ultimately make tax season more stress free and streamlined, protects you from IRS audits, and can also be helpful if you’re looking to show value to new investors.

Tip 2: Use QuickBooks features to their fullest

“QuickBooks is really powerful and has an interface designed to make things as easy as possible,” says Matt Skinner of Beaird Harris in Dallas, TX. “You have to use it to its fullest and you have to use it correctly, otherwise you’re not really taking advantage of what’s there for you.”

If you have questions about your books or Quickbooks tools at any point, you can tap into QuickBooks Live Expert Assisted for added peace of mind and a full range of business expertise from real, on-demand QuickBooks pros.

Tip 3: Leverage advisory tools

“Everything within QuickBooks is an opportunity to do small business advisory,” says Shane Mason of Brooklyn Fi in Brooklyn, NY. “You can see trends within a company, you project how a company is going to perform, and if you have ever acted as a CFO or run a company before you can talk to your business clients.”

Financial projections and forecasting will help you anticipate expenses and revenue as your business grows, so you’ll be able to plan ahead and stay prepared.

Tip 4: Make data-driven business decisions

“Actually understanding what QuickBooks does and why you’re using it and why you’re keeping track of the financials is immensely valuable because it helps you make decisions,” says Kourey Cournoyer of GrowthLab Financial in Providence, RI. “It helps you change the trajectory of your business.”

To help you navigate that data and leverage it to its fullest, check out free tools hub, where you’ll find templates, calculators, check-lists and other resources.