5 Ways Strategic Business Owners Use QuickBooks® to Save Time and Maximize Profits – Veronica Wasek

business owners, quickbooksFriday is for Friends

Today in our Friday is for Friends feature I welcome good friend Veronica Wasek, owner of VM Wasek CPA, LLC and a graduate of the Growth Coach program. She is a Certified Public Accountant, a Certified Advanced QuickBooks® ProAdvisor, and a Public Speaker. She specializes in helping strategic business owners manage and grow their businesses. Visit her website for free articles, resources, and to receive free monthly QuickBooks® tips.  Here are some great tips for all business owners! Did you know that QuickBooks® is more than a bookkeeping software package? QuickBooks® is a very powerful small business tool you can use to save time and maximize profits. Here are 5 essential ways for strategic business owners to use QuickBooks®:
  1. Get Valuable Information From QuickBooks® To Help You Run Your Business - There are 3 important keys to getting valuable information from QuickBooks®:
    • Customized set up - QuickBooks® must be set up properly so that it works effectively and so that you can get meaningful and useful reports.
    • Clean up the mess– If your QuickBooks® file is a mess you cannot rely on the data that is in your QuickBooks® file. Have it “cleaned up” by a professional and you will see how QuickBooks® can help you manage and grow your business.
    • Keep up with your bookkeeping on a regular basis - It is best to hire someone to do your bookkeeping so that you can free up your time and so that your accounting will be up-to-date. Remember, keeping your bookkeeping current allows you to get timely and useful reports to run your business.
  2. Leverage Your Time And Financial Information – Use All The Features That QuickBooks® Has To Offer-Here are 2 essential features:
    1. The Company Snapshot - with one click you can get an instant snapshot of how your company is doing. This is great for visual people.
    2. You can attach and store documents in the Document Center for free. This is great if you’re not good a record keeping.
    3. Here is a link to more powerful features available on QuickBooks Pro 2012.
  3. Use QuickBooks® Reports To Track Your Financial Goals - How are your profits measuring up against your goals? You can find valuable reports in the QuickBooks® Report Center such as the Profit & Loss, Balance Sheet, and the A/R Aging Summary. QuickBooks® has many more reports available. Here’s a tip – play with the reports – you can’t damage anything.
  4.  Use QuickBooks® To Save On Tax Preparation Costs And Get More Tax Deductions - Giving your tax preparer a messy set of books only causes your tax preparer to spend more time sorting through the mess and less time on preparing your tax return. That means higher fees and possibly missed tax deductions. With QuickBooks® properly set up and maintained, strategic business owners can provide their tax preparer with the reports and information needed on a timely basis. Using QuickBooks® properly, you can have your tax return done well before the deadline. Your tax preparer will love you!
  5. Set Up Budgets and Track Results In QuickBooks - An annual budget is a must for every strategic business owner. QuickBooks® makes it easy to set up a budget and to track how you are doing throughout the year. Check out this link with instructions for setting up a budget in QuickBooks®.
Veronica Wasek, Certified Public Accountant and Certified Advanced QuickBooks® ProAdvisor: www.cpaondemand.net, email: veronica@cpaondemand.net.

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3 Responses to “5 Ways Strategic Business Owners Use QuickBooks® to Save Time and Maximize Profits – Veronica Wasek”

  1. Glenn says:

    Thank you Veronica for the helpful advice. Like Mike, I too appreciate all you do for our business community. Thank you for being my guest blogger!

  2. Thank you Mike! I appreciate your comments.

  3. Mike Dobert says:

    Veronica,

    Excellent guidance on the use of QuickBooks as business tool. You continue to be a great resource to our business community and appreciate all the information and expertise you share.

    Mike Dobert, S.P.H.R.
    President – HR in Alignment, LLC