Quickbooks Plus is a comprehensive accounting software for small businesses. It comes with built-in features designed to track and manage the finances of both small businesses and large businesses, while ensuring accurate and up-to-date accounting and bookkeeping records that are compliant with GAAP and IRS requirements.
While many small business owners may be familiar with the software, Quickbooks offers different package plans, unlocking different features to suit your business needs. We take a look at the basket of features that comes with the Quickbooks Online Plus Plan, and take you through how it can benefit your business.
Quickbooks Plus features
The Quickbooks Online Plus Plan offers the most features and is suitable for large businesses.
We take a look at some of the key features of QuickBooks Plus:
- Comprehensive accounting ability: Manage budgets, track project profitability, manage goods & services tax, VAT, and track overall business income & expenses with ease in Quickbooks Plus. The software will automatically update your books as transactions happen. Does your business transact in multiple currencies? Quickbooks Plus can capture and convert multi-currency transactions for accounting and tax filing purposes.
- Send custom invoices, quotes and make payments: QuickBooks Plus includes invoicing and payment processing functionality. Set your software up to take care of recurring transactions and bills to keep the accounts payable side of your business in order. Connect your banking account for synchronized records that are automatically updated when making or receiving payments.
- Manage inventory: E-commerce and product-providing businesses can benefit from the QuickBooks Plus inventory management feature, which automatically alerts you when inventory levels are low, updates inventory reports and creates purchase orders to ensure business runs smoothly and books are updated accurately.
- Get business insights with comprehensive reporting ability: Make informed business decisions with Quickbooks Plus’s reporting ability that offers you the option to drill into business specifics.
- Manage staff matters: QuickBooks Plus allows you to track employee time and manage payroll by processing time charts and paychecks, calculating tax liabilities, managing staff payments and more.
Quickbooks Plus is reasonably priced and is geared to business growth as its offering stretches beyond that of the standard, Quickbooks offerings. The package allows for five users, plus your accountant with it’s differentiating features including the following:
- Multi-currency functionality
- Recurring transactions management
- Sophisticated inventory tracking
- Project profitability and budget tracking
- For five users, plus your accountant
The Right QuickBooks Plus Setup
Having your software implemented correctly is as important as having the right software setup. Not taking the time to study the functionality you require and getting it done right, can be counter productive to the financial health of your business. Quickbooks Plus is designed to offer the features that medium and larger sized businesses need to thrive. When investing in this software it is imperative to consult a CPA for a professional QuickBooks setup.
Fusion CPA is a team of professional accounting controllers. We understand Quickbooks’ benefits, know if it’s right for your organization, and can help you get the most out of it. Learn more about how Fusion CPA uses QuickBooks Plus and other accounting software to help organizations manage their finances and grow their businesses.
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This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.
