Accounting software can feel like a baffling maze of buzzwords and automations that only further confuse you. Throw in the phrase “AI integrations” and the tears are already forming. But once you know how to properly set up and make the most out of your software, it can become your best friend. Taking the time to familiarize yourself with the functions and uses of the capabilities in Quickbooks can save you tons of time in the long-run and make your tax season a lot less stressful. Here we’ve compiled some helpful tips to help you conquer Quickbooks.

Customize Your Dashboard

If you are inundated with a confusing mix of charts and reminders when you open up Quickbooks, consider customizing your dashboard. This can help you see what your businesses’ most pertinent information is immediately and make it easier to keep track of what you need to do, preventing you from getting sidetracked by all sorts of information.

Set up Tags, Classes & Projects Wisely

Tags, classes and projects can help your organization with detailed tracking, which can result in additional insights about your business. However, it’s important to have a general consensus among all Quickbooks users about the purpose of each tag in order to reduce confusion and redundancy. Also, make sure to be applying them consistently to get the best insights out of them.

Keep your Chart of Accounts Organized

Depending on the type of business you run, you might have a large number of accounts or a relatively high churn of accounts. Make sure to keep your chart of accounts organized by archiving unused accounts (which can also help with what tier of subscription you pay for), using naming conventions properly and consistently and consolidating unnecessary categories to reduce confusion.

Be Cautious with Integrations & Apps

Apps and integrations seem like one of the best features of Quickbooks when you initially get started, but they can quickly spiral out of control. Less is more when starting out with integrations until you have built up a base knowledge of Quickbooks to determine what you really need.

It’s worth noting also, that while apps can be incredibly useful, anything with access to sensitive business information also poses a potential security issue. Make sure to vet apps through the Quickbooks store as well as your own independent research, and routinely audit what permissions they have to keep an eye on your data.

Report Sales Tax Correctly

If your business deals with sales tax and operates in different states, you know this can be a major headache. Make sure you are choosing the right state nexus – luckily Quickbooks has tools to help you determine this and then automatically calculate sales taxes.

The best tip we could give you overall is to know when to ask for professional help with Quickbooks. Quickbooks can get complicated very quickly and unfortunately missteps can have cascading effects. You don’t have to spend precious time wrestling with Quickbooks and watching loud, confusing YouTube videos. A trusted Quickbooks advisor can set you up for success, teach you everything you need to know, and be there for support and assistance periodically throughout the year whenever you need it. At ClarkSilva, our team of Quickbooks experts can help with everything from set-up to full maintenance and management of your books. No matter how small or large your issue is, we’re ready to help! Contact us today with any questions.