Power Hacks: 10 smart ways to stay on top of your accounting with smart financial management tools

Effortlessly manage your finances and grow with QuickBooks

Want to work smarter, not harder? We’ve rounded up 10 power hacks that businesses are using today to simplify accounting tasks, make smarter decisions and take the stress out of financial management. From automating admin to gaining financial insights that can help you negotiate better contracts, these tips can help you stay in control. This isn’t just about running your business; it’s about unlocking your full potential.

Power hack #1: See everything, control everything 

Running a business means juggling multiple priorities - from marketing, cash flow to budgeting and business management. Keeping track of everything in one place can be challenging. 

For accountants, giving clients a clear financial snapshot can help them make better decisions and for business owners, this means you can login and always have a bird’s eye view of everything that’s happening. 

• Use QuickBooks to get a real-time view of your financial picture in one place. View automated bank feeds, submit taxes, pay your people, and get paid faster with instantly payable invoices. Get cash flow insights and track projects, jobs, or locations to see where you’re making the most money. Use pre-set reports or create custom reports tailored to your needs.

Power hack #2: Get paid faster without the hassle 

Late or missed invoices can disrupt cash flow and strain both your business and customer relationships. Bringing the power of automation to life means this process can help you get paid on time. 

For business owners, automated invoicing keeps payment tracking simple and eliminates yet another manual task. For accountants working with and advising clients, invoice automation can ensure steady cash flow.

• Automate invoicing with QuickBooks to get paid faster, prevent missed payments, and gain clearer view cash flow visibility. Create personalised, custom invoices, track their status, and send automatic reminders when they’re overdue. If you’re on Simple Start or above, you can also add a pay now button and allow customers to pay in just a few clicks, directly from the invoice.

Learn more about how QuickBooks streamlines the invoicing process here. 

Power hack #3: Snap receipts instantly and save time 

Tracking receipts manually at the end of each month is stressful and time-consuming. Losing receipts means missing out on potential tax deductions. For business owners, having a mobile-friendly tool lets you capture expenses on the go before they're forgotten. For accountants, encouraging their clients to use QuickBooks' receipt capture makes tax preparation easier and more accurate.

• Snap a picture of your receipts on the go and we’ll match them to your expenses or create new ones automatically, depending on your plan. You can also set rules to auto-categorise expenses and auto-reconcile payments - saving you even more time. If you’re on Simple Start or above, we’ll create a new expense from the receipt when there’s no match. Sole Trader links receipts to existing bank transactions instead.

Power hack #4: Making payroll painless 

Payroll is essential for running a business, but handling it manually increases the risk of errors and takes up valuable time. Managing tax deductions, National Insurance contributions, and pensions can be complicated and stressful. 

For business owners, automated payroll makes it easier to ensure your team gets paid and to track cash flow with real-time insights. If you’re an accountant who manages payroll on behalf of clients, it ensures compliance and data security.

• With QuickBooks Payroll, you can calculate deductions, manage tax and pension deductions, generate payslips instantly, and handle HMRC submissions automatically.

Power hack #5: Don’t leave money on the table 

Keeping track of financial incentives like rebates can be tricky and missing them can mean leaving money on the table. It’s easy to overlook small details in payroll or expenses that could unlock valuable savings.

For business owners, QuickBooks can help identify eligible financial incentives - like rebates or reliefs - by making it easier to track. If you’re working with an accountant, they can help you get even more value from your financial data.

• QuickBooks can make it easier to prepare your VAT returns, Self Assessment submissions, and other tax filings, helping you stay on top of your allowances, deadlines and reduce the risk of penalties. Whether you're managing it yourself or working with an accountant, the right tools make it easier to track rebates and record business expenses that might otherwise be missed.

Think you’d benefit from working with a money expert? Find an accountant here.

Power hack #6: Turn supplier data into better deals 

Strong supplier relationships start with knowing where you stand. Insights into your top suppliers and where the opportunities are can help you negotiate better deals.

For business owners, QuickBooks provides real-time data to make smarter decisions and negotiate from a position of strength. Accountants can help guide clients on using supplier insights to identify savings and improve profitability.

• Analyse supplier performance with QuickBooks' Reports section to uncover cost-saving opportunities and sharpen your negotiating edge.

Power hack #7: Scale faster with integration and automation

Keeping track of business operations across different systems can be messy and time-consuming. Integration and automation flows can save time and transform how you work.  

For business owners, automation and integrations can help connect financial data with other platforms, automating tasks like sales data entry and inventory tracking.  Accountants can drive value by helping clients bring in the right automation, create smoother workflows and boosts profitability. 

• QuickBooks supports integrations with various third-party solutions - both free and paid - creating a scalable accounting system tailored to your business. Whether you work in retail, hospitality, agriculture, or manufacturing, you can connect apps for customer management, mileage tracking, time tracking, expenses and inventory. Plus, you’ll have access to free customer support every step of the way.

Power hack #8: Stay on top of spending 

What happens when you don’t know how much you’re really spending? Losing track of your finances can quickly lead to cash flow issues and missed opportunities. 

For business owners, seeing exactly what’s coming in and going out, can help manage cash flow more effectively and understand your financial position at a glance. For accountants, guiding clients on using real-time financial insights from QuickBooks can help them make better decisions and improve profitability.

• Connect your bank accounts to QuickBooks to automatically update transactions, track cash flow in real time, and stay in control of your finances.

Power hack #9: Stay organised, avoid tax surprises

Scrambling to find receipts and financial records is stressful and it can lead to costly mistakes. Having all your financial data in one place can mean no more last-minute panic or surprise tax bills.

For business owners, stay on top of your VAT and Self Assessment tax deadlines and avoid last-minute panic or surprise tax bills. For accountants, having direct access to accurate financial data through QuickBooks streamlines the process and means your clients can submit their tax returns accurately and on time. 

• Give your accountant direct access to your QuickBooks Online account so they can track expenses and help you meet key deadlines - without the stress.

Understand your tax responsibilities as a small business owner with this guide.

Power hack #10: Get expert support at every step

In business, when you need to be agile and things are changing, having the right support can make all the difference. Sorting out issues on the phone in minutes can make all the difference. 

For business owners, this means having the right support when you need it the most, 24/7, to help keep your business running smoothly. For accountants, this means having access to support and your account manager to help troubleshoot client issues and stay updated on any changes.

• QuickBooks offers dedicated customer support, along with continuous updates and new tools to help you stay ahead of the curve.

In our Power Hacks series, we explore all the ways QuickBooks can help your business grow. Whether you’re running a business or managing clients, QuickBooks puts you in control, so you can focus on what matters most - growth, cash flow and success.

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