Financial Fitness January 2016

Running Your Business On The Go

FINANCIAL FITNESS JANUARY 2016

Reprinted by permission of the St. Louis Small Business Monthly

Accounting software can significantly improve small business internal operations and decision making processes, but

maintaining accurate records takes a lot of time and effort, especially when you don’t have the time to sit at a computer all day. QuickBooks is the most popular accounting software for small businesses and Intuit has created tools designed to help you keep your records accurate and mobile.

QuickBooks Online can be accessed anywhere as long as there is an internet connection, and the QuickBooks Online smartphone app allows you to review transactions at any time. However, there are other apps that integrate with QuickBooks Online that can take your mobility even further.

The New Ecosystem of QuickBooks Apps provides you over 300 applications, including apps for inventory management and time tracking, billing and invoicing, point of sale and payment processing, marketing, manufacturing, payroll…pretty much anything you do within your small business! These apps will save you time, help you manage your business and provide most recent

data -- making decisions on real time information is a competitive advantage!

With apps like Receipt Bank and Bills.com you can take a picture of your receipt and the app will match it to your transaction in QuickBooks Online. (You don’t need to keep your receipts!) You can scan your bills and the app will “read” and enter the data into QuickBooks Online and will even process the payment after the customized approval process is set in place. The time saved on printing and mailing checks or filing receipts and invoices can then be used on running your business and planning the next step for your company.

Before you implement any accounting software or if you have any questions about the enhancements of your current software, contact your advisor. n

Karen Stern (314-983-1204 or [email protected]) is partner in charge of BSW Small Business Services, which provides small business tax and accounting services.

BY KAREN STERN