For small-business owners, bookkeeping is a necessary, but time-consuming chore. But keeping your business's finances in order doesn't have to take all day.
If you use QuickBooks for payroll, inventory or keeping track of sales, there are several timesaving shortcuts you can utilize to make bookkeeping easier. In an email interview with Business News Daily, Lisa Grossman — a CPA with Kaufman Rossin & Co., an accounting firm with offices throughout Florida — shared her tips for getting the most out of QuickBooks in the least amount of time.
Here are seven time-saving tips that will help you spend less time using QuickBooks and more time building your business:
- Download data whenever possible. Even after factoring in initial setup time, downloading banking
and credit card activity directly into QuickBooks is a huge time saver. Doing this will minimize the chance of human error and enable you to record activity faster than if you did it manually. - Memorize transactions. QuickBooks has the capability to memorize recurring transactions (invoices, bills, checks, etc.) and set them for automatic posts daily, weekly, monthly, quarterly and annually, eliminating the need to enter the same transaction into the software every month.
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