If you use QuickBooks in-house for your accounting, your software is saving or making you money in several ways:
- You don’t have to pay an outside accountant or bookkeeper to do the day-to-day books. Your bookkeeper (or bookkeeping staff) can do all the time-intensive tasks themselves: entering and paying bills, cutting checks, invoicing, entering payments and deposits, receiving inventory, etc. Doing these tasks in-house with QuickBooks is likely to cost less than outsourcing the bookkeeping.
- You can run management reports whenever you want, and make well informed business decisions as a result. Timeliness is better than outsourced bookkeeping. Better business decisions usually go to the bottom line — you either increase your revenue, or control expenses better, or both.
- You can run the reports the way you want them; you can customize them as you go along and tweak them to your needs. Again, this can result in better business information that you can use to be more profitable.
- You can manage your cash better. You can detect and manage delinquent receivables and time your payments to vendors for best cash flow.
- QuickBooks pays for itself compared to other software solutions. Why? Because it is less expensive than most competitive offerings, it has a larger user community through which to get free support, and has by far the biggest consulting and 3rd party developer network of any accounting software now available. This makes it the most extensively supported accounting software in existence. And that’s a good thing when you are trying to get problems solved.
What do you think? Are there other ways in which QuickBooks has proven to be cost effective for your office?