Organizing Business Finances Using QuickBooks - Assignment Example

By using QuickBooks, small businesses can organize their business finances in one central place and still access them from any location using the internet because all their accounting data is automatically backed up. QuickBooks also gives small businesses the opportunity to save a lot of time that would have otherwise been used on dealing with figures, customer details, invoices, and reports. This is because QuickBooks is simpler, faster, and more accurate than spreadsheets or papers since accounting becomes automated and calculations are done by the software.

This makes it less likely to make mistakes that would have otherwise been many if using paper or spreadsheets (INTUIT 1). QuickBooks ensures that all accounting details such as customer details, supplier details, and other financials are accessible in one place, can be accessed online, are searchable, and well organized. Small businesses that use QuickBooks do not have to worry about everyday accounting tasks because the software automatically takes care of them. For example, reports, invoices, and quotes can be automatically generated by the software, giving small business owners the chance to have an overview of their financial status just at a glance.

Also, sales and expenses can easily be tracked using QuickBooks by simply entering the details of these transactions as they happen (INTUIT 1).