How to Use Intuit QBO Accounting Software: A guide for small business owners

As small to medium enterprises across Australia make the cloud accounting switch, Intuit QBO accounting software has proven to be one of the more popular choices for busy entrepreneurs.

Here at Cornerstone, we work with a number of different software platforms on behalf of clients and after researching the individual requirements for each business, we determine the best option for particular business needs.  

This is how we have set up Intuit QBO to get the most out of the cloud accounting software for some of our clients:

  1. Accounting and payroll is all rolled into one
    That means we’re not working with multiple systems and running the risk of data transfer errors or human mistakes.
  2. Bank statements are automatically fed into our Intuit QBO account
    Once again this minimises the risk of error and more importantly, saves time and money.
  3. Employee superannuation payments are automated
    If done manually, this can be an arduous task. Streamlining the superannuation process allows HR and payroll staff to be proactive in their roles instead of laden down with admin.
  4. Online invoicing activated
    The cash flow benefits from setting up online invoicing are immediate. The user friendly element of online invoicing means invoices are created and shared faster than ever before which has a lovely positive knock-on effect on the bottom line.
  5. Set up remote access
    Our team work all over the place. Yes, we have our office but they spend time with clients at their offices, they may work from home or need access to the bookkeeping information and platform at a meeting offsite. Being able to access the Intuit QBO accounting software whenever they need it keeps the business processes ticking over without delay.
  6. Use Add-Ons that streamline other business processes
    As you know we love working with apps and some of the apps you can use with Intuit QBO are the best in the market.

TSheets is a great one for tracking time worked on projects and timesheets in general for employees.  Your employees don’t even have to be in the office, they can adjust their times from any mobile device.  The best part is you can sync employee timesheets so you can invoice out more easily for time worked on particular jobs or projects.

Intuit QBO offers free payroll software through Keypay. Keypay is one of the best payroll products on the market.  It offers easy integration into Intuit QBO so that you can pay employees on time, accurately and with minimal fuss.

And who can forget Debtor Daddy and Receiptbank. Two of our favourite apps for collections and automating receipt entry which has saved our clients so much time and money. 

We liken the Intuit QBO accounting platform to putting business owners back in the driver’s seat.

Metaphorically, having the real time data and information available to you in this way is like having a dashboard for your business right in front of you. The Intuit QBO platform provides business owners with visibility of all aspects of their organisation with a simple click or swipe.

What does this mean for you as a business owner?

You’re making strategic and smart decisions fast. You are truly managing on the go – not by the seat of your pants – but with decisiveness and confidence.

And that makes a big difference to the success of those decisions, the energy of the organisation and the health of the bottom line.

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