If you are running a business then you will have to be very precise about your decision making power.
You might focus on all other aspects of running your business and making it successful but it will all come down to how good you are at making decisions. You will be surprised to know that more than 90 percent of the businesses fail just because of bad managerial decisions and this is why you will have to be very precise while choosing even a solution for your firm. Even while choosing accounting software, you can’t be in a hurry and choose anything that comes in your way.
When you will start looking for an accounting software solution then you will come across many different options and this is where things might start getting confusing. But if you are running a small or medium-sized business then you should go with QuickBooks Premier without any second thoughts. It doesn’t matter which accounting professional you will talk with, you will always get QuickBooks Premier as a recommendation.
If you are considering QuickBooks Premier as an option for your firm then you have come to the right place as we are going to discuss all the new and improved features along with the already available features of the accounting software in a detailed manner.
Easy management of inventory items
Managing inventory is always a difficult task for every business but that will not be a problem when you will start using this accounting software. You should know that this accounting software will automate your inventory item tracking and management as it will allow you to locate items and complete inventory related tasks all in one place by taking advantage of the Inventory Center. Even using this advanced feature is very easy and you can do it all on your own without taking help from an accounting professional. So, without burning a hole in your pocket, you will be able to streamline your accounting software.
Tracking balance sheet by class
Just creating a balance sheet is not enough as you should know that there are many ways you need to track your balance sheet and generate reports through it. Well, this is where the advanced accounting software in the form of QuickBooks Premier will come to your savior. You will just have to use the built-in, easy to access the report in order to track financial data that will be separated by location, profit center, or department. This will make it easier for you to track balance sheets by class and there will be no complication in it.
Billing clients progressively
It doesn’t matter what is the size of your business or in which industry you are in, keeping track of clients will never prove to be easy for you. But you can simplify this task by using the advanced accounting software in the form of QB Premier. This advanced and powerful accounting software gives you the ability to track and bill clients by time and material, job phase or even percentage completion as it will all depend upon you. This will completely simplify the process of billing clients and there will be no overlapping of communication or billing process.
If you are worried about the industry-specific accounting needs and don’t know which accounting software to choose then you must stick with QuickBooks Premier without any second thoughts. You will be completely surprised to know that there are industry-specific versions of this accounting software solution and each version comes with some unique accounting features specific to that industry. You will get the option of general contracting, manufacturing and wholesaling, non-profit, and even professional services. You will not have to pay anything extra for these versions as they have the same price as the general business version.
Automatic payment reminder
If you quickly forget about payments and if this is affecting your cash flow then the powerful accounting software will come to your rescue. In the year 2019, a new version of the accounting software has been launched and it comes with the power of automatic payment reminders. With this feature, you can easily set reminders for all the due payments from each and every type of customer. In order to do so, you will first have to create a mailing list and then simply add customers to that list. After doing so, you will just have to put a payment reminder from the scheduled payment reminder option.
Easy management of customers
There is no denial in the fact that there are many different aspects of accounting that you need to keep in mind but you can’t start losing focus on customer management as this is also a very crucial aspect of your overall accounting operation. Just like the automated payment reminder, a new feature of a rule-based customer group has been introduced to QB and it will directly help you in managing your customers. The rule-based customer group based on different fields such as type, location, and balance will become a pie for you.
Ease of reporting
Just like the year 2019, even in 2020, many new features have been added to the QuickBooks Premier accounting software and a lot of focus has been made to the reporting power of this accounting software solution. You should know that now you can easily generate industry-specific reports which will be more detailed and specific. In addition to this, you can even customize your inventory reports and this will make the reports that you will be generating a lot helpful and informational.
Better receipt management
This is another addition to the latest version of the accounting software and that’s why we thought that you should know about it as well. By using the receipt management tool, you will save time by using a mobile device, you can easily capture receipt data like photographs, reviews, and import. In addition to this, you will even get the power of categorizing receipt expenses and then record a long list of transactions all at the same time. This will make your accounting life a lot easier.
If all these features of QuickBooks Premier are not able to fulfill your expectations then you are surely looking for an accounting software of the future which is not currently available. We are saying this with so much confidence because we know that all the possible and basic accounting features have been included in this advanced version of the accounting software solution.