An Introduction to Quickbooks and Quickbooks Accountants
Quickbooks is the most widely used accounting software in the United States, used by small and large businesses alike to keep track of sales and expenses, inventory, payroll, taxes, and more. Many people think that because they have no accounting experience or training, they can't use Quickbooks to manage their finances, but that's not true!
While you may need an accountant to set up Quickbooks initially and train you on how to use it, you can manage your finances all on your own with practice and support! Here is all you need to know about the Quickbook
WHAT IS QUICKBOOKS?
QuickBooks is a cloud-based accounting solution that allows you to manage your finances from any device at any time easily. After setting up your account, you can connect it with other services such as Xero, FreshBooks, PayPal, and more!
You will probably have questions about taxes at some point in your business's lifecycle—whether you are starting up or expanding.
Many regulations affect small businesses, from payroll taxes to state sales tax to complex capital gains rules. When running a small business, most of us don't consider what we need in terms of an accountant until we find ourselves overwhelmed by financial tasks.
WHY DO PEOPLE USE QUICKBOOKS?
Running your own small business can be rewarding, but a lot of admin work goes into a Small and Medium-Sized Business (SMB). Here are some reasons why people use QuickBooks.
Maximize Profits
When you work with an accountant in QuickBooks, you'll be able to save time by not having to file your taxes, thus saving money. By hiring an accountant that uses QuickBooks, he or she will be able to guide you through all of your tax filing questions and provide you with expert guidance throughout every step of planning and implementing your business. An accountant with many years of experience can also help you decide what deductions are applicable so that your small business can maximize profits year after year.
Minimize Taxes
You can't eliminate taxes, but you can minimize them. An accountant can help you prepare your business's tax return and file it. You may save money by hiring an accountant; many accountants offer free consultations, so get several estimates and choose one that works within your budget.
Work Smarter, Not Harder
Working with an accountant may seem like one more thing on your list of small business tasks, but hiring someone to file your taxes can make it easier. When you hire an accountant, they can do most of their work in advance so that when tax time comes, you only have to spend hours filling out forms (instead of days), and they give you valuable insight into how best to manage your money. Hiring an accounting firm will get you off track in less time than doing it yourself.
Stay on Top of Finance & Accounting
A small business accountant can take much of your stress off your shoulders so that you can focus on other parts of your life and business. By using an accountant, you'll be able to file taxes with QuickBooks quickly and efficiently. If you file taxes on time, avoid penalties, keep your financial records organized and in order, make it easier for yourself by using an accountant!
QUICKBOOK ACCOUNTANT FOR SMALL BUSINESS
Not all small business accountants are created equal. Ask yourself: Do you need someone who knows QuickBooks inside and out? Is it important for your accountant to be able to work with banks and lenders? What type of tax preparation experience do you need?
The answers depend on what kind of business you run, how complex your finances are, how many employees you have, and any other variables.
A good small business accountant can bring organization, efficiency, cost savings, peace of mind, and even happiness!—to your life.
WHAT COMPANIES NEED QUICKBOOK ACCOUNTANTS?
A small business accountant is an accountant with advanced skills in QuickBooks accounting software who can help your small business file taxes, develop financial plans, set up a payroll system and track how your business spends money.
Business owners turn to a QuickBooks accountant for help with setting up accounts payable, figuring out what utilities will cost over different periods, and creating budgets. A bookkeeper can also answer questions about effective tax deductions for various expenses or capital expenditures.
Small businesses may only need occasional assistance from an accountant—once or twice a year—but you should be looking for someone with expertise using features specific to small businesses: invoicing inventory tracking and estimates.
If you have more complex needs, such as being self-employed or having multiple locations, it makes sense to hire a full-time accountant.
HOW MUCH DOES QUICKBOOKS ACCOUNTANT COST?
It depends on where you live, but many accountants charge around $150-$200 per hour. Depending on how much time is required to file your taxes with QuickBooks, a few hours of professional accounting can cost between $500-$700.
If you are looking for an accountant specializing in small business accounting, expect to pay between $100-$150 per hour for their services. This does not include any software costs you may incur from your accountant's use of QuickBooks or other accounting software.
It also does not include any legal fees should something unexpected come up with your taxes (which it frequently does). Keeping expenses low is incredibly important if your new business is getting off its feet.
If you need help setting up or managing your small business's Quickbooks, don't hesitate to contact one of our friendly team members today!