Create efficient month-end and year-end financial statements
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.
- QuickBooks SimpleStartThis 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.
- QuickBooks ProThe 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.
- QuickBooks PremierAlso 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.