Why QBO is My Accounting System of Choice

Bookkeeping Tips

Why QBO is My Accounting System of Choice

AUTHOR

Heather Pranitis

Why QBO is My Accounting System of Choice

Let me start here by saying that every business owner has different needs, depending on how long you’ve been in business to your particular industry to who’s handling your taxes. But even then, I tend to come back to the same accounting system for most of my clients: QuickBooks Online.

I know that different bookkeepers and accountants have their own personal preferences when it comes to tracking income and expenses. But for me, QBO makes the most sense for business owners who are ready to take ownership of their money and make it start working for them.

[bctt tweet=”QBO makes the most sense for business owners who are ready to take ownership of their money.” username=””]

When onboarding new clients, I often hear that the thought of bookkeeping was so overwhelming to them that they avoided doing anything. That’s like your clothes fitting tighter after the holidays but refusing to step on the scale for fear you’ve gained weight (you have). Continuing to indulge in junk is only going to make the problem worse, just like continuing to ignore your finances is just going to dig your hole deeper.

Instead, take the initiative and take care of your books. Here are just some of the options available with QuickBooks.

QuickBooks for Small Business

For business owners who want to manage their books themselves, QuickBooks is a great choice. Pricing starts as low as $10 a month, and you’re likely to save well over that in accountant bills.

There are different levels, depending on where you are in business: Simple Start, Essentials and Plus (there’s also a less expensive Self-Employed model if you are only working as an independent contractor). Higher-tiered plans allow you to pay employees and send quotes to customers while the lower-tier, individual plan will let you track personal expenses and calculate your quarterly taxes (which you should be doing anyway to stay on the IRS’s good side). If you’re ready to get your cash flow under control and want a starter option, check out QuickBooks. As a pro advisor, I can offer a QuickBooks discount for the life of your account, whether I’m doing your bookkeeping or not.

For More Robust Bookkeeping

QuickBooks has both a desktop and online version (QBO), and can help you organize and automate your expenses and bills. It will also back up your accounting files automatically so you don’t have to worry about losing any data. Taxes are much simpler too, because many CPAs use QuickBooks to organize client financials. You or your bookkeeper have already done this for them!

Whatever you decide you need, the key is to get started. To get the most out of your bookkeeping software, you have to use it—and use it consistently. So even if you don’t go with QuickBooks, go with something.

I’m happy to chat about other bookkeeping options. Get in touch with me and let’s talk!

KNOW YOUR STUFF

Nine Questions You Should Ask Your CPA & Bookkeeper

Putting your finances in the hands of an external contractor can be nerve-wracking. Here are five questions to ask to make sure you’re partnering with someone who’s a good match for your business, needs, and values. 

DOWNLOAD THE GUIDE →