![]() ![]() Available in all QuickBooks Online plans, receipt scanning in QuickBooks uses Optical Character Recognition (OCR) to scan receipts. QuickBooks Online has a built-in receipt scanning app that allows you to capture expense receipts through your mobile device, attach them to an existing record, or add them to a new transaction. If you would like to try the full version of QuickBooks Online Advanced, click here to get a free 30-day no-commitment trial plus access to the full video training library. ![]() If you’re working with independent contractors, QuickBooks Online allows you to generate 1099 tax forms and then e-file them or print them and then mail them to your agency. ![]() Also, it will help you monitor due dates in order to avoid late filing.Ī unique advantage of QuickBooks Online is that it automatically calculates sales taxes based on the location of the customer, making it ideal for those who collect taxable payments in different states. When you add sales taxes to your invoices, estimates, and sales receipts, QuickBooks will automatically calculate and track the applicable sales tax rates. Helps You Prepare for Tax TimeĪnother important thing QuickBooks Online can do for your business is to simplify sales and income tax filing. As you sell your inventory in QuickBooks Online, the program will automatically allocate a partition of the inventory to the COGS, which is important for calculating taxable income. QuickBooks Online also lets you generate purchase orders and send them to vendors and create inventory alerts so that you’ll know when it’s time to replenish your stock. It allows you to automatically update inventory quantities and sort items by their taxable and non-taxable status. The inventory accounting module in QuickBooks Online lets you track inventory items and the cost of goods sold (COGS). If inventory accounting is a huge part of your business, then QuickBooks Online is a great choice. Today we’ll let you in on the five lesser-known benefits of using QuickBooks Online. However, there are other reasons many business owners and accountant love using QuickBooks Online. QuickBooks Online provides well-known benefits for businesses, such as the ability to share your books remotely with your accountant, create and send invoices, and generate customized reports. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |