Here are five keys that can guide you to success using QuickBooks in your business.
1. Setup. If you were having a house built, you wouldn’t just get out there with a hammer and nails and start winging it. You shouldn’t wing it when you set up your books in QuickBooks for the first time, either.
Find an accountant or a QuickBooks expert who can structure your accounts in QuickBooks in a way that will serve you well over the long haul. Like remodeling a house, making major revisions to your QuickBooks company after the fact can be difficult and expensive.
If you are just starting out, QuickBooks Online Edition is easy, affordable, low-maintenance, and has the advantage of being available to you anywhere, anytime. The QuickBooks Online Setup Service can get you started right.
2. Security. QuickBooks touches private individual information like social security numbers, and sensitive financial data like bank accounts, credit cards, and financial statements.
You don’t want any of that to fall into the wrong hands. So make sure that every computer on your network has up-to-date internet security software installed, and use passwords that are adequate.
3. Site. The equipment you use on-site can contribute towards success with QuickBooks.
First, you should have a battery backup on every computer on your network — even computers that don’t run QuickBooks directly. Power blips that occur on other network workstations can affect the QuickBooks data stream being passed across the network.
For maximum network stability, use the same kinds of network cards on all your workstations. They will know how to talk to each other better than a random mix of cards.
4. Supervision. Having only one person with access to QuickBooks is a recipe for potential accounting errors, or worse, fraud and embezzlement.
Having more than one pair of eyes on the books plus an occasional audit greatly reduces the likelihood of bookkeeping crime. And having a regular review can keep the books cleaner.
5. Scale. If you have been using QuickBooks Pro or Premier and your growing business means that you now need more than 5 users accessing QuickBooks at the same time, it’s time to consider scaling up to Enterprise. All of your data will automatically convert up when you first open your company in Enterprise.
You can scale down, too. If you find that Enterprise is more than you need, you can downgrade to Pro or Premier.