Financial management is at the heart of any small business. Still, it is also one activity that gives business owners sleepless nights. With the advent of new technologies, the accounting and financial planning processes have been automated and are now handled by software. While generating invoices may have become easier, these tools are not without their limitations. Take QuickBooks for example. It is a great product for SMBs but its older versions have had some drawbacks. Limitations in Previous Versions of QuickBooks
What's new in QuickBooks 2016 for Accountants and Small Business users? Delete Unnecessary Transactions Quickly A large number of transactions can be deleted simultaneously with the new version of QuickBooks. Users can either use the option of erasing the entries altogether or void them if required. If your business needs to remove dated accounting records from the system, there are a number of filters that can simplify the selection of the transactions that need to be removed. In addition, businesses can also check the linked transactions. Accidentally deleted an important entry? With the integrated data backup, so lost transactions can be easily retrieved. Generate Intuitive Business Reports There are a number of new reporting features that have been added to QuickBooks 2016. For example, for the company filing activity, QuickBooks provides a list for updating, verifying and re-creating data so that there are no errors. In addition, users can also use the data filter to view accounting entries from the current financial year to-last month for reporting. Improve Bill Tracking The 'Bill Tracker' is a brand new functionality that's available with QuickBooks 2016. Such a feature hasn't been seen in the previous versions of the product. With redesigned dashboard, all bills (including the overdue and pending ones) can be viewed on a single window. The user interface and overall management of Bill Tracker is similar in many ways to the Income Tracker feature that has been a part of the older versions of the accounting software. Apart from tracking bills, users will also be able to quickly act on those that demand immediate attention. Intuit, the company that owns QuickBooks has greatly reinforced accounting efficiency for its users with each new version. With QuickBooks 2016, users will also be able to work with multiple files at the same time. Likewise, team members can collaborate on the same files with separate copies and also carry out any accounting related communication with each other. In addition, like previous versions, QuickBooks 2016 can also be integrated with CRM tools in the market. It is clear that all these enhancements when bundled together make it one very powerful accounting software. SMBs and larger organizations will be able to carry out their operations better with this reliable and robust enterprise solution that streamlines financial management and accounting processes. |
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