QuickBooks Features (Everything You Need To Know)

October 12, 2022

QuickBooks Features (Everything You Need To Know)

QuickBooks is one of the most popular accounting software programs for small businesses. And it’s no wonder why – QuickBooks has a ton of great features that can save small business owners a lot of time and money. 

But with so many features, it can be hard to know where to start. That’s why we’ve put together this quick guide to QuickBooks features so that you can make the most out of this powerful software program.

One of the best things about QuickBooks is that it’s designed specifically for small businesses. This means that it has many features geared towards helping small businesses save time and money. 

It is used by businesses of all sizes to manage their finances. In this blog post, we will discuss the features of QuickBooks and how they can benefit your business. 

We will also provide a few tips on how to get started using QuickBooks. So, if you are looking for a comprehensive guide to QuickBooks, you have come to the right place!

Which of the following pro features does QuickBooks Desktop for Mac offer?

Let's look at the normal QuickBooks feature list: 

●  Track inventory

●  Create and manage invoices

●  Track sales and expenses

●  Generate reports

●  Manage payroll

 

The good news is, all of them! There isn't a QuickBooks feature or QuickBooks functionality that is left out when you use the desktop Mac version. All of the features that have made QuickBooks such a popular accounting software among small businesses are available on the Mac version as well.

QuickBooks for Mac offers all of the same features as the Windows version of QuickBooks. This includes tracking inventory, creating and managing invoices, tracking sales and expenses, generating reports, and managing payroll.

One of the benefits of using QuickBooks for Mac is that it is compatible with other Apple products, such as the iPhone and iPad. This means that you can access your QuickBooks data from anywhere!

What is the class feature in QuickBooks?

The class feature is a QuickBooks functionality that allows businesses to track income and expenses by department, location, or any other classification that makes sense for their business.

This can be a helpful way to see where your business is making and spending money, and make informed decisions about where to allocate resources.

To set up class tracking in QuickBooks, go to the Preferences menu and select the Classes option. From there, you can create new classifications and assign them to transactions.

What is the best use of the class feature in QuickBooks?

There is no one-size-fits-all answer to this question, as the best use of the class feature will vary depending on the needs of your business.

 

However, some common uses for class tracking include: 

●  Tracking income and expenses by department or location - This can be particularly useful for businesses with multiple locations or those that operate in multiple states.

●  Tracking income and expenses by project - This can be helpful for businesses that work on a variety of projects, as it allows you to see which projects are profitable and which ones are not. 

●  Tracking different types of products or services sold - This can be helpful for businesses that sell a variety of products or services, as it allows you to see which ones are selling well and which ones are not.

●  Tracking project expenses - This can be helpful for businesses that work on a variety of projects, as it allows you to see where your money is going and where you could save money. 

●  Monitoring internal costs associated with specific customers or client projects - This can be helpful for businesses that work with a variety of clients, as it allows you to see which clients are costing you the most money.

 

The key is to ensure that you are using the class feature in a way that provides valuable insights into your business operations.

Which QuickBooks feature should be used to pay sales tax?

The QuickBooks sales tax feature is a great way to track your company's tax obligations. This feature allows you to create and manage multiple sales tax rates, as well as track payments and refunds.

To use the QuickBooks sales tax feature, simply go to the Taxes menu and select Sales Tax. From there, you will be able to add, edit, or delete any existing sales tax rates.

You can also view a history of all past payments and refunds. When it comes time to file your return, QuickBooks will generate the necessary forms for you.

What is the drill-down feature in QuickBooks?

The QuickBooks drill-down feature allows you to view detailed information about a particular transaction. To use this feature, simply double-click on the transaction in question.

You will then be able to see all of the details associated with that transaction, including who was involved, what items were purchased, and when the transaction took place.

This feature is especially useful if you need to track down a specific invoice or payment.

What are some other features of QuickBooks?

In addition to sales tax and the drill-down feature, QuickBooks offers several other great features. These include:

 

●  The ability to create and manage invoices - With QuickBooks, you can easily create and manage invoices for your customers. You can also track payments and see which invoices are outstanding.

●  The ability to track inventory - If you sell products, QuickBooks can help you keep track of your inventory levels. This way, you'll always know what's in stock and what needs to be ordered. 

●  The ability to run reports - QuickBooks can generate a variety of reports that can help you track your business performance. You can see things like profit and loss, sales by customer, and expenses by category.

●  QuickBooks Online - If you prefer to use QuickBooks online, there is a subscription service that gives you access to all of the features we've mentioned. Plus, you'll get access to additional features like time tracking and project management.

●  Pricing plans - QuickBooks offers a few different pricing plans to fit your business needs. The most basic plan starts at just $20 per month.

●  The ability to create and manage purchase orders - If you sell products, QuickBooks can help you keep track of your inventory levels. You can create purchase orders and send them to vendors when you need to restock

●  Integrations with other software - QuickBooks integrates with a number of popular business applications, making it easy to manage all of your data in one place.

●  The ability to track customer payments - QuickBooks can track invoices, payments, and account balances for your customers. This information can be helpful when it comes time to do your end-of-year taxes.

 

QuickBooks is a powerful tool that can help you streamline your business operations. Be sure to take advantage of all the great features it has to offer!

How LiveFlow improves Quickbooks

LiveFlow is a valuable platform built for QuickBooks, which is designed to make it easy to create an integrated, real time connection between your QuickBooks data and customized reports and dashboards in Google Sheets. This means that you don’t have to give anyone access to QuickBooks simply to review reports – you can use pre-built templates or bring live data to any customized report you already have. This way, you only share what departments need to see. The live connection between QuickBooks and Google Sheets means that your reports will always be up to date – without any manual exports, data formatting or hands-on effort.

LiveFlow allows users to turn real-time Quickbooks data into visualization and charts that can be used to improve business performance. LiveFlow is constantly updated with the latest Quickbooks features and integrations, making it the most comprehensive solution for business owners who use Quickbooks.

Book a demo today to see how LiveFlow can help you make the most of Quickbooks! 

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