Cheqbook Accounting Software for Small Business Tips and Tricks
When using accounting software for small business financial management, you should always take care to learn not just the large features present in the utility but the smaller ones as well. Oftentimes the large features are used to entice you into buying the software in the first place, but the smaller ones that you may not be immediately aware of are the ones that will make your life easier on a daily basis. Cheqbook is just one such example of small business accounting software. Free trial versions are available for you to download and try out before you commit to a full-fledged purchase.
When you start using Cheqbook for your small business, one tip that you can make use of immediately involves creating simultaneous users for all of the people who are going to need access to your books. If you have three employees who all need to create invoices, enter transactions and perform certain types of other functions, for example, you shouldn’t allow all three individuals to use the same user account. By creating simultaneous users for each employee, everyone will have their own screen that they can interact with in a personal way. From the standpoint of a business owner, all three employees (or whatever the total number is for your situation) will also have an extra layer of accountability. You’ll be able to see exactly which user account entered a specific transaction, created an invoice and performed other types of basic functions within the software. If you ever have a question about a certain portion of your business’ financial information, you’ll know exactly who to go to right away.
Another tip that you should be utilizing when it comes to Cheqbook involves the import and management of transactions from your various business accounts. When you first set up your Cheqbook account, you will be prompted to enter information about the bank accounts that you use for your business. Every time you make a transaction “in real life” with one of those accounts, you should also make a record of the same transaction within the Cheqbook interface. Doing so will allow you to see exactly where your business’ money is coming from and going to. However, you don’t have to manage transactions on an individual basis if you don’t want to. Doing so will take up a great deal of time and may be outright impossible depending on the size of your business. Instead, you’ll be happy to know that Cheqbook supports the importing of bulk transactions. You can import bulk transactions on a daily basis, weekly basis, monthly basis or more depending on the frequency at which you use certain accounts and the preferences of the way you want to run your business. You can also have Cheqbook automatically download transactions from various accounts if you so choose, which will save you even more time in the long run. It is always important, however, to periodically audit your Cheqbook account to make sure that all transactions are being downloaded the way they should be.
Another excellent trick when it comes to using Cheqbook accounting software has to do with the way the service allows you to print and manage invoices. When you need to charge a client for a specific good or service that has been rendered, you would traditionally do so by sending them an invoice. Under regular methods, you would use Cheqbook to create the invoice you wanted, print that document and send it to the client using the postal service. Many people don’t realize that Cheqbook automatically supports the e-mailing of invoices directly to the client should you so choose. If the client’s e-mail address is in your address book, you can send them the invoice in just a few quick button clicks. A copy of the invoice will also automatically be added to your records so that you can see exactly when it was sent and which methods were used. It is always important, however, to check with the client first before you send them an electronic invoice. Certain clients may prefer using the postal service to receive a hard copy, even though doing so will require extra effort on behalf of everyone involved.
Another feature that is present in Cheqbook accounting software that too few people make use of is the ability to share all of your financial information with your accountant. You can do so in just a few clicks of your mouse using a feature that is built right into the program from the very beginning of your account history. Though you will use Cheqbook to manage the day-to-day financial well being of your business, your accounting will still play an important role come tax season. Instead of going through a huge amount of ink cartridges and multiple reams of paper to give your accountant access to all of the relevant financial information, click the “Share” button and allow the program to take care of the rest.