QuickBooks Online Revisited

Benefits of QuickBooks Online (1)






Benefits of QuickBooks Online

QuickBooks Online gets a bad rap at times for many reasons that aren’t always justified. If you tried QBO years ago and didn’t like it you should give it another try.  It has come a long way over the years.  If you are hesitant to try it because the screen views are different than the desktop version, don’t be. QuickBooks Online is very user friendly. I find it to be easier to use and less clunky than the desktop version.

Below are some features that make QBO attractive to new and existing QuickBooks users.
  • Cloud Accounting: QBO has bank level encryption. And since it’s in the ‘Cloud’ you don’t have to worry about backing it up, because it is automatically backed up. However, for those who are leery of this, there are some new third party apps that do just that.
  • Unlimited PC use: Since the software is hosted in the cloud and isn’t loaded onto an individual computer it is available on any computer with Internet connection anywhere in the world!

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How is Your Business’ Cash Flow?


Cash Flow is King

Do you have ample cash flow monthly? It can be a tricky question for any business. Without ample cash flow you might not have enough cash on hand to pay expenses as they come due.  You might end up paying unnecessary late fees and miss out on early pay discounts some vendors offer.  Some people believe that simply signing more clients or selling more products will fix their problems.  All too often though, it just masks more serious problems and doesn’t really fix anything.

The key to cash flow is not just having plenty of it, it’s making sure you maximize what you have.  If you have been organized and diligent in your accounting, then you should have access to information that can start this process right away. What are some examples of things that will improve your cash flow?  If you invoice customers, it is important to review your accounts receivable (AR) activity and see what balance you are carrying monthly.  Analyze the account to determine the average time to pay.  If a majority of your customers are slow to pay you can offer an incentive, such as an early pay discount.  This can drastically improve cash flow by improving the reliability of payments.  Knowing what you have and when you are going to have it improves planning.

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