No matter how exciting and fast paced your job might be, when it comes to financial management, the pace inevitably slows down. There never used to be a way to escape the need to allocate precious time to sitting down and going over taxes, payslips, invoices and all the paperwork associated with finances. But small business owners and the self-employed are now more plugged in and switched on to software solutions than ever before. Many are therefore aware that when it comes to accounting, QuickBooks can keep you in the loop while you’re out and about.
Financial Management in action
Mark Burkett runs Inverse Imaging, a video production company in Brisbane, Australia which specialises in multi-camera live events. They has been using QuickBooks since they started 18 months ago, because Mark and his business partner need to be able to deal with financial management from anywhere. “The best thing about QuickBooks is that I can jump online and send out a quote in minutes from whichever device I am using at the time,” Mark explains. “That’s the most useful aspect, although one of my favourite things to do is just log on and see how the outstanding invoices are doing!”
While Mark depends on the services of a professional accountant to do his taxes, he uses the quoting and invoicing functions of QuickBooks which he regards as indispensable. Mark sorts all his transactions via the user friendly dashboard, often using the QuickBooks app while shooting on location, “then our accountant just logs on to the same system and makes sure everything is in order,” he says. While they could complete their own tax returns, Mark says that Inverse Imaging prefer this collaborative approach, “It really is perfect,” he says, “it’s under our control but we have the peace of mind that it’s all correct.”
“QuickBooks [is] a core platform around which we have built our business management system.”
Peace of mind is really essential when you are on the job and don’t want to be distracted by financial management challenges. The QuickBooks app allows Mark to monitor cash flow or make changes to shared documents from his phone, which are then updated in real time. “Instantly seeing when things are overdue is so useful. No guessing, no checking back through documents, it’s right there. Being able to jump on and do any little task any time, any place is also super convenient,” Mark enthuses. “This convenience combined with the ability to work from different places and do different things on the same system, have made QuickBooks a core platform around which we have built our business management system.”
Inverse Imaging pride themselves on creating stunning imagery for video, time-lapse and broadcast projects. Their reputation is dependent on the quality of their work, so they need to be fully focused on it while on set or editing. Without the QuickBooks app, the checking, organising and managing of finances would be a time consuming distraction from the projects themselves. “We wanted something which unified our quoting and invoicing, while allowing both my business partner and I full access to all our financial information,” Mark explains. “We have used QuickBooks from the start because it makes reporting so simple. We can easily extract our profit and loss information and our accountant can export all the data he needs without us needing to take any action.”
Who is QuickBooks For?
QuickBooks is ideally suited for video production companies like Inverse Imaging, but is also equally appreciated in many other fast paced industries with competitive deadlines. Imagine an app that allows you to enter or retrieve financial management data as and when it’s convenient. This saves you so much time over the course of the financial year but also empowers you, giving you more control over your finances. Whether you rely on a professional accountant or you do your own tax returns, it is clear that the future of accounting lies with cloud based accounting apps like QuickBooks.
You can sign up for your free, 30 day trial with QuickBooks here.