Looking for financial software to support your business? Here’s 5 reasons why QuickBooks Online is your best bet

TL;DR

QuickBooks Online is a super handy bit of tech for modern businesses, offering unmatched accessibility, top-notch security, real-time financial insights, streamlined accounting processes, and seamless scalability and integration. When you use it, you can access your financial data anytime, anywhere, ensure your data's safety, make informed decisions with real-time insights, and save time with automated processes. Plus, as your business grows, it can grow with you, integrating with a wide range of third-party apps to enhance functionality.

At Arcus, we’ve seen how QuickBooks Online can transform your financial management and speed up success. We recommend it to every one of our clients.

As a CPA firm owner, I've seen firsthand the transformative power of cloud technology, especially with QuickBooks Online. It's the only accounting software we use and recommend. In today's fast-paced world, embracing technology can significantly streamline operations and drive growth in your business.

In short, it’s not to be ignored and it’s one of the best things you can do for your business. So here are 5 dang good reasons to start using QuickBooks Online (QBO) pronto.

You have access to accurate numbers anytime, anywhere

Being able to access your financial data from anywhere is a total game-changer.

Whether you're at the office, home, or on the go, you can log in from any device with internet access. It means you can keep tabs on your finances and make decisions in real-time, no matter where you are.

You don’t need to be tied to a physical office or depend on other people, or hardcopies. You can check your cash flow, track expenses, and send invoices—all from your smartphone or tablet. This flexibility is a huge benefit for busy business owners who juggle multiple tasks.

The software also supports multiple users, making collaboration easy and synchronized. Your accountant, bookkeeper, or business partner can access the same up-to-date information, improving communication and teamwork. (Any CPA will tell you how problematic hardcopies, spreadsheets. and multiple users can be!)

Your financial information is safeguarded by top-class security

Security is a big deal, especially when it comes to your financial data.

QBO uses industry-leading security practices like encryption and multi-factor authentication. Your data’s stored in secure, off-site servers, protecting it from physical threats like theft or fire. Plus, automatic backups mean your information is always safe.

What’s more, you can also control who sees what with user permissions, giving different access levels to other users. This keeps your data secure while ensuring privacy.

You’ll get real-time data to inform business decisions

QBO gives you real-time insights into your financial position. The dashboard shows critical metrics like income, expenses, profit and loss, and cash flow, all updated in real-time.

These insights help monitor your business's financial health and make data-driven decisions. If you notice a cash flow dip, you can quickly investigate and address it. Tracking expenses can also help you identify overspending areas, adjust your budget, and keep cash in the business.

The reporting features let you generate detailed financial reports with just a few clicks too. So whether you need a balance sheet, income statement, or cash flow report, you can customize and create the reports you need for deeper insights and, more importantly, deeper discussions.

Automation means transformation (for any business, large or small)

Perhaps one of the most impactful aspects from the platform, the automation of repetitive accounting tasks will have some truly meaningful implications for your life.

It means you:

1. Won’t spend hours of your time each month repeating the same tasks
2. Won’t get caught up in the putting-off-your-task-list guilt that plagues so many business owners
3. Save money by reducing potential for error and hours spent

You can also connect your bank accounts and credit cards to automatically import and categorize transactions, speeding up reconciliation and ensuring accuracy. The invoicing feature lets you create and send professional invoices in minutes, complete with your logo and branding too.

You can also set up recurring transactions, whether a monthly subscription fee or a regular supplier payment. They’re recorded automatically, reducing manual entry and ensuring consistency.

Payroll processing is another area where the software shines. It handles all aspects of payroll, from calculating wages and taxes to filing tax forms. This ensures compliance and frees up time for other business tasks.

Maximizing automation will undoubtedly be one of the best things you do for your business and your free time.

As your business grows, your accounting needs will change

QBO is designed to scale with your business, offering various plans and features to meet evolving needs. Whether you're a sole proprietor or managing a growing enterprise, you can choose the plan that suits you and upgrade as your business expands.

It also integrates seamlessly with a wide range of third-party applications, enhancing its functionality. From CRM systems and e-commerce platforms to project management tools and time-tracking software, these integrations help you streamline your workflow and improve efficiency.

For example, if you run an online store, you can integrate QuickBooks Online with your e-commerce platform to sync sales data, track inventory, and manage orders automatically. Integrating with a time-tracking tool can help you monitor employee hours and bill clients accurately for project-based work.

These integrations save time and provide a much more comprehensive view of your business operations, helping you make more informed decisions and drive growth.

Embracing tech isn’t fancy and it isn’t a luxury—it’s a necessity

At Arcus, we believe in the power of cloud technology and the hugely positive impact it can have on a business. By leveraging QuickBooks Online, you can achieve greater efficiency, make better-informed decisions, and reach important business and life goals.

In short, QuickBooks Online is awesome and we love it. In fact, we make sure all of our clients are up and running on the platform before we do any of our work.

Now, if you’re not using the platform yet, or it feels like a big change, we can help with that. Whether it’s a little guidance, 1:1 coaching, or simply doing it all for you, we’ll make sure you and your business are set up, synched, and ready to rock.