Quickbooks for UK Business Users
Posted on 9th August 2022 at 10:46
Intuit's Quickbooks has been around since the 1980s and is a firm favourite for many small businesses and sole traders. So how does it stack up and what should you be aware of, if anything, should you be considering using the software for your business accounts and financial tracking? If you are an Essex or Suffolk based business and need any help with your accountancy or bookkeeping affairs, then we are happy to have a chat and to explain how we can assist. Office Minder are based in Little Clacton and we serve clients in Clacton-on-Sea, Colchester, Maldon, Chelmsford and those who are further afield.
Over 60% of the UK SME (small and medium size enterprises) community use Quickbooks according to Your Shortlist. At a glance, here are the reasons why businesses opt to use Quickbooks as their accountancy software.
Bank Feeds
Simplify Invoicing
Compatible with 'Making Tax Digital'
Access for your Accountant
Some packages include UK based support
Payroll as an add on
Quickbooks is pretty nifty and as well as automation, customers really like the reminders, for example in relation to invoices. The software also includes templates for business owners, to save them time and effort. Pricing is laid out clearly and sometimes (like at the time of writing this article), there are offers for a set time. We would recommend expanding all of the features and reading the details as to what is included for each price bracket. Highlights to look out for are access to telephone support, as this is really useful if you have a question or get stuck, as is the ability to share your details with other users, such as your Accountant.
Frequently asked questions regarding Quickbooks
What are the alternatives to using Quickbooks accounting software?
There are other options on the market, which depending on your business, it would be worth looking into. Quickbooks provides everything that UK sole traders and most businesses will need. If your company has a lot of inventory to take care of, it would be advisable to investigate the benefits of using Sage. Another big player is Xero and again, do your research and talk to your Accountant if you need guidance.
What is Quickbooks Desktop and Online?
The Desktop version is being discontinued so you will now sign up for online. There was not any difference in what was offered, it just makes sense that the online version is the one offered now, as you can access via your mobile phone like most platforms that we use.
I need payroll services, can Quickbooks help?
Yes, you can purchase payroll as an add on feature to some Quickbooks packages.
What if I have more than one company?
One Quickbooks account=one company. To be fair this is pretty normal in the world of accounting software and apart from some Sage packages, one company per account is the rule of thumb.
Can I use Quickbooks to send quotes to my clients?
Yes, this is a popular feature and one that can increase your credibility as a business. Using professional templates you can incorporate all of your quotes into your account.
Does Quickbooks send payment reminders?
Quickbooks not only sends reminders but you can set the timings, so that you are in control of how you communicate and the level of interaction you would like with your customers.
In conclusion, we can understand why Quickbooks is so popular and the software certainly helps many businesses to streamline their records and make their lives easier. If you are local to Clacton, Colchester, Frinton or the surrounding areas, please get in touch if you have any questions. We also offer telephone or video calls to those who are not in the Essex area.
Tagged as: Accountant and Bookkeeper Essex, Essex Accountant, Quickbooks for UK Businesses, Tips for SMEs
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