QuickBooks Accounting Services and Consulting

QuickBooks is an accounting software platform designed to streamline financial management for businesses. It simplifies bookkeeping tasks, facilitates invoicing and payment tracking, manages expenses, and generates detailed financial reports. With features like payroll processing, tax preparation support, and bank reconciliation, QuickBooks offers a comprehensive solution for businesses of all sizes.

QuickBooks offers various package plans with different features to suit your needs. These include:

• QuickBooks Simple Start: basic accounting features such as income and expense tracking, invoicing, and reporting.
• QuickBooks Essentials: basic accounting features with additional capabilities like bill management and time tracking.
• QuickBooks Plus: accounting features, bill management capabilities, as well as inventory tracking and project profitability analysis.
• QuickBooks Advanced: ideal for enhanced reporting and customization.
• QuickBooks Pro: core accounting features like invoicing, expense tracking along with customizable financial reports. 
• QuickBooks Self-Employed: ideal for freelancers and independent contractors.

Speak to our CPAs to choose the right package for your business.

To set up your QuickBooks you will need the following essential business details:

• Your company name
• Industry
• Fiscal year
• Bank account and credit card details 
• Customer and vendor information for your chart of accounts

The intricacies of the setup will depend on the version of the software your business uses. 

Contact us for best practices.

Some of the QuickBooks plans come with a free 30-day trial. Thereafter, the pricing varies based on the version and plan you choose. 

Our CPAs can help assess your business needs and align them to the most cost-effective solution for you. 

Fees paid for accounting services and software like QuickBooks are considered ordinary and necessary business expenses. Therefore, they are typically deductible on your tax return. However, tax laws can vary. It is essential to consult with a CPA to ensure that you meet all the relevant requirements.

Yes. Managing your personal finances with QuickBooks is easy and can be kept in the same account but separate from business expenses. 

Consult with a CPA to learn how to reconcile your personal accounts for accurate financial tracking.

Yes. QuickBooks can easily be integrated with other applications. Speak to your CPA to ensure that the integrations are executed effectively.

Yes. QuickBooks integrates with various payment processors, like PayPal. This functionality enables businesses to invoice clients and customers directly through QuickBooks, with the added convenience of online payment options.

Yes. You can track employee hours for efficient payroll processing within QuickBooks. This helps ensure accuracy and timeous employee payments. You can also pay taxes due for payroll directly from the software.

Employee data reports offered by QuickBooks Online include: Payroll Summary, Payroll Detail, Payroll Deductions and Contribution, Employee Detail, Employee Directory and Total Pay.

Yes. You can track and monitor your inventory seamlessly. The software allows you to input and update product information, including quantity on hand, cost, and sales price. QuickBooks can automatically adjust inventory levels as you make sales, purchases, or returns. This feature is beneficial for businesses involved in retail, e-commerce, or manufacturing.

It is possible to outgrow QuickBooks. The most common signs of this can be found on this blog.