QuickBooks is the most widely used small business accounting program on the market. According to various sources, QuickBooks has a 90% market share of small business accounting software. As such, we find a majority of our small business clients use QuickBooks for their accounting and reporting needs.
Although QuickBooks is a fairly easy program to use, there is the risk of over/under utilization of the various features within the program. A business’s #1 goal is profit, and accurate and timely management reporting enables the decision makers to make informed business decisions based on historical data. There are many standard financial reports, customer & vendor reports, payroll (if you utilize Intuit’s payroll service), and many more. But the only way to make those reports truly meaningful is to set-up QuickBooks properly by custom tailoring it to your specific business needs. From setting up the chart of accounts properly, utilizing class tracking, jobs, inventory, lists, etc., if these are set up properly the reports will flow. Certain functions like bank reconciliations are invaluable.
As a QuickBooks Pro Advisor, I assess what I believe a company needs from QuickBooks beyond standard reporting, and review the system to ensure management can receive the reporting they desire. It’s also imperative to train employees (or the business owner of a one man shop) how to use QuickBooks properly. I understand that a company’s bookkeeping does not directly make the company profit. But the only way management can determine profitability is from solid and accurate record keeping.
QuickBooks is an inexpensive but important tool in one’s business. Even though it’s advertised as easy out-of-the-box, one should not just take it for granted and hit the ground running without advice (unless you already have an accounting background). The system should be designed to not only provide day-to-day reporting, but also to make it easy at year end to provide you friendly CPA with a set of books to prepare an accurate income tax return (an inescapable part of being in business).
Here is a summary of the QuickBooks services we provide:
QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product and then install, setup and use it properly. We don’t just help you use the software, we help you use it more efficiently and more effectively.
Kent, Parker & Associates offers the following solutions to help meet your QuickBooks needs:
Personal Training – We train you personally! Either one-on-one or several individuals within your organization at your company’s location.
Installation – We install QuickBooks on your stand alone computer or in a network environment, in either single- or multi-user mode.
Setup – We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.
Support – Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.
Review – Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.