When you are learning how to use quickbooks, there are 3 things you definitely want to learn so that you get the maximum benefit from this powerful small business accounting software.
- Bank reconciliations – when learning how to use quickbooks, be sure to pay attention when learning how to reconcile your bank accounts. I have witnessed first hand when a business owner does not reconcile their bank accounts in Quickbooks for months at a time simply because they did not know how. As a result, months down the road, they realize that their Quickbooks checking account balance is thousands of dollars different than their actual bank balance. Soon enough, this results in bounced checks and numerous errors, which creates unjustified headaches and time wasted fixing the errors.
Credit card reconciliations – another thing to make sure you pay attention to when learning how to use Quickbooks is how to reconcile your credit cards. You want to make sure you do this properly as it could result in numerous missed expenses on your credit card. The process is very similar to reconciling your bank accounts, so learning the process should not be that difficult.
Entering and paying bills properly – by all means, when learning how to use Quickbooks, be sure you learn how to enter and pay your bills correctly. I can’t tell you how many times I see clients use Quickbooks as a glorified checkbook and not use it to its full potential. It can be an incredible tool to track and pay your bills.