In the realm of small and mid-size business bookkeeping, QuickBooks has been a household name for decades. As markets and business practices have progressed, so has the innovative bookkeeping platform, and many businesses today are already taking advantage of its more modern online version. Much like the traditional platform, QuickBooks Online (QBO) is designed specifically to help business owners keep up with the evolving demands of running a modern business. To help you get the most out of your platform, we take a look at a few things that should be on your checklist before you get started.
Make sure your payment processing can keep up
Your payment processing systems are a vital part of bookkeeping, and needs to be as advanced as your QBO platform for everything to run as smoothly as you expect. Be sure your payment processing is able to accept a wide range of different digital transactions to accommodate your customers’ different preferences. Payments should be as easy for customers to initiate as it is for your bookkeeping system to process. Also, be sure your payment processing system adheres to security regulations surrounding all digital and credit card transactions.
Streamline your inventory management to be compatible
Making it easy for customers to pay for things won’t matter as much if you’re always running out of inventory, or if customers order something that your website says is in stock, but isn’t. Most modern businesses have digitized their inventory management at least to some degree, but not all have taken steps to ensure that digitization is compatible with their online bookkeeping platforms. By doing so, you can ensure you and your customers always have an accurate picture of what’s in stock and what isn’t, and you can more accurately forecast demand to avoid running out of supply.
Consult with a pro to make sure it all runs smoothly
If this all seems a bit too complicated, you’re not alone. Many of the tips and tricks designed to make QBO more efficient aren’t obvious to the average user, and most business owners don’t expect to have to take extra measures after upgrading their bookkeeping systems. The best way to streamline the process and make sure you get it right the first time is to work with a seasoned professional who has extensive experience in bookkeeping and QBO processes.
Learn how to get the most from your QuickBooks Online
By integrating it with the rest of your business management processes, you can make QuickBooks Online a lot more efficient than you might have expected. For more information, email us at [email protected], or contact us by calling 214-273-6599.