QuickBooks > Articles > Create efficient month-end and year-end financial statements

Create efficient month-end and year-end financial statements

2011-01-01

Every business goes through month-end or year-end accounting procedures. Each month, your company should produce a trial balance, a balance sheet and owner’s equity statement. These statements provide an overview of how well the business is doing for business owners and investors.
 
Month-end and year-end procedures are for businesses to gather all their day-to-day accounts and make sure that the financial statements balance. This process is simple if your business transactions are recorded thoroughly, but situations such as loss of slips and invoices can occur, making it hard to produce accurate reports.
 
With QuickBooks accounting software, managing your accounts isn’t a chore. We provide a wide variety of accounting software packages helping different types of companies produce professional and efficient financial statements.

  1. QuickBooks SimpleStart

    This package is designed for new and home-based businesses. The accounting system in this package allows you to generate professional financial statements such as invoices, quotes, cash flow reports and batch emails. It also allows you to track the activity of sales as well as record expenses and profit.
     
  2. QuickBooks Pro

    The QuickBooks Pro software package provides accounting solutions for larger businesses and provide more features than the SimpleStart package. The extra features allow you to generate a company snapshot, track stock, set reorder points, create purchase orders and generate project management. This software is compatible with Microsoft programs such as Outlook and Excel, which are used every day in the office. This package, unlike the SimpleStart, also allows up to five users access to the software.
     
  3. QuickBooks Premier

    Also designed for larger businesses that require the QuickBooks Pro package, the QuickBooks Premier includes more features than its Pro counterpart. It can facilitate up to 30 users and provides remote access -

    • making the purchase and selling of stock in various units easy
    • allowing you to set discounts and prices by classification of customer, job or item
    • assisting with building forecasts
    • allowing various departments to create budgets
    • monitoring performance 

QuickBooks – Accounting solutions for businesses

Even though a month-end financial statement only occurs once a month and a year-end financial statement once a year, these two types of accounting reports are critical to produce accurately. If accounting processes are poorly managed owing to inconsistent updates, incorrect information or carelessness, late deliveries or incorrect reports could easily occur. This could reflect badly on your company, particularly with suppliers and shareholders.
 
QuickBooks package software is an accounting solution catering for almost any small to medium-size business. For easy-to-use software, browse our website to learn more about our designed packages. Find software suitable for your business’ accounting needs or contact us with any further queries.

Still not sure, need more info?

QuickBooks SimpleStart - for new and home based business

QuickBooks SimpleStart - for new and home based business

All the essential tools for new and home based businesses.
The simplest way to manage and track money going in and out of your business.
QuickBooks SimpleStart, Accounting Software
It’s easy to manage sales, expenses and customers when you do your company’s books with SimpleStart. SimpleStart has been designed specifically to address small business needs and help them through their first start-up year which is the most critical year. SimpleStart takes less than 15 minutes to set up and with the easy interactive audio tutorials; you are taken through each step of setting up your company.
QuickBooks Pro - manage your business accounts simply and easily

QuickBooks Pro - manage your business accounts simply and easily

Fast and easy financial management for small businesses.
Manage your business accounts simply and easily.
QuickBooks Pro, Accounting Software
All the features of QuickBooks SimpleStart with advanced tools and customisation options to help boost efficiency and improve organisation.
 
 
QuickBooks Premier - fast and easy advanced accounting

QuickBooks Premier - fast and easy advanced accounting

The fastest, most complete way to manage small business finance.
Fast and easy advanced accounting.
QuickBooks Premier, Accounting Software
The next step up from QuickBooks pro, this comprehensive tool meets more specialised needs and gives greater insight to your client's business.
 
 
Quick Payroll - manage all your weekly and monthly payroll needs
Quick Payroll - manage all your weekly and monthly payroll needs
Quickest and easiest way to manage all your weekly and monthly payroll needs.
Quick Payroll is designed to meet the fast growing needs of dynamic South African SMEs.
QuickBooks Payroll, Payroll Software

It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.

Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.

Quick Payroll Lite - manage all your weekly and monthly payroll needs
Quick Payroll Lite - manage all your weekly and monthly payroll needs
Quickest and easiest way to manage all your weekly and monthly payroll needs.
QuickBooks Payroll Lite, Payroll Software

Quick Payroll Lite is designed to meet the fast growing needs of dynamic South African SMEs. It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll Lite interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.

Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll Lite is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.

Quick Payroll Startup - manage all your weekly and monthly payroll needs
Quick Payroll Startup - for all your weekly and monthly payroll needs
Quickest and easiest way to manage all your weekly and monthly payroll needs.
QuickBooks Payroll Startup, Payroll Software

Quick Payroll Startup is designed to meet the fast growing needs of dynamic South African SMEs. It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll Startup interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.

Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll Startup is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.

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