Sunday, August 5, 2012

QuickBooks for the Self-Employed?



QuickBooks is the award-winning accounting software manufactured by Intuit. Because there are so many different types of business models emerging in the global market, Intuit offers a large selection of QuickBooks versions for online, software, and mobile app use.
Traditionally, when one thinks of QuickBooks, they think of its compatibility with small or growing business needs. For example, QuickBooks offers a range of applications for invoicing, payroll and customer profiling. QuickBooks Online Essentials- the second most basic version of the online edition- comes equipped with tools for organizing, contacting and describing vendors and customers in ways that almost any small or growing business will benefit from.
In order to help more specific business models, Intuit also offers versions of QuickBooks specifically for contractors, non-profit companies, and manufacturing companies. The list of ways in which QuickBooks can aid these complex business models keeps growing, as the needs and specific characteristics of these industries grow as well.
So what about the Self-Employed individual? Does the independent person, with a business run by one or a few people, without more overhead than a computer and cell phone, still need QuickBooks? Surely even these people benefit from more organized business plans, especially around tax time. But does a self-employed individual really need to purchase such powerful software, if for example, they don't have vendors and invoices to worry about?
I think so. While QuickBooks' advanced vendor or inventory organizing capabilities may not be what most Self-Employed individuals absolutely need, the advantages that QuickBooks offers in maintaining, and categorizing profit and loss are enough to require the program alone. QuickBooks Online Essentials for example, links directly to one's online banking accounts so that the program can analyze and update accounting info for the user every 24 hours. Once those numbers have been imported, the user can go through and categorize each expense, giving them a better idea of how their profits and losses stack up, and keeping the stress at a minimum come tax time.
For a few extra dollars a month, you can upgrade to the QuickBooks online versions that offer comprehensive budget plans to help keep you on track, and running your business more effectively, no matter what its nature or size. All of these programs, be them online or software-based, are offered with a 30-day free trial period, and you can also get QuickBooks Online Discounts for up to 20% on most versions.
Not every business needs comprehensive invoicing and payroll programs to run smoothly, but nevertheless, any business, be it big or small, can benefit from the organization and intuitive capabilities that QuickBooks can offer.


Article Source: http://EzineArticles.com/5943664

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