QuickBooks and Accounting Software: An overview

QuickBooks and Accounting Software: An overview

By: NETLINKS LTD

QuickBooks and Accounting

Geared majorly towards small and medium-sized businesses, QuickBooks is fundamentally an accounting software package which has been developed by Intuit.

Financial management is an integral part of business and any flaw in the management of finances may result in heavy losses for any business firm. Thus, companies today not only seek professional and seasoned accountants, but also look out for efficacious software systems which can handle the financial management related tasks with accuracy and reliability.

What is QuickBooks?

QuickBooks is an accounting software that aids the business owners who do not possess much of accounting knowledge to keep their finances organized. It not only provides basic accounting functions, but also possesses reporting and invoicing capabilities. Business owners who want to use QuickBooks Afghanistan can also choose from the add on services that it offers, including handling and management of credit card processing, inventory tracking and payroll.

How QuickBooks Can Help Businesses?

Apart from performing the most basic task of keeping the track of money coming in and out in your business, the QuickBooks Afghanistan is capable of executing several other tasks such as tracking your credits and debits, and assisting you in the tax calculation and fulfillment.

Some other vital tasks carried out by QuickBooks Afghanistan include:

Creating Invoices and Tracking The Accounts Receivables

QuickBooks software allows you to create and send bespoke invoices to your customers and thus, help you in keeping an accurate track of the money that your customers owe to your firm. At any time, you can instantly check, that how much total money you have to receive from your customers or vendors.

Facilitating Tax Reports

In the tax season, your accountant’s job becomes very hectic owing to the various activities which are required to be done for preparing the tax reports, calculate the total money to be paid as tax and managing the tax payment. But, QuickBooks software helps them by facilitating all the information which they need in order to file the taxes in a properly organized manner.

Moreover, if your business is not very big and you do the tax management by yourself, the QuickBooks can help you to easily prepare tax reports and calculate taxes by just providing the tax and business related information on its tax preparation program such as TurboTax.

Preparing Financial Reports

In order to understand how well our business is performing, you need monthly, quarterly, half yearly and annual financial reports, and making flawless reports is one of the most vital job duties of the accountant. QuickBooks can help you with this hectic accounting task and can provide various reports within seconds. While there is a broad array of report types, which can be generated using QuickBooks software, but the three most important reports which it generates at regular intervals include the Balance Sheet,Cashflow Statement, the Profit and Loss reports.

With all these capabilities, QuickBooks Afghanistan is certainly one of the best software, businesses can use to ensure that their accounting tasks are performed with accuracy and speed. You can also get your QuickBooks software customized to ensure that it works as per your business’s needs.