The trouble with QuickBooks

Laptop overloadConventional wisdom is that QuickBooks is easy to use and anyone with a small business should be using it. Well, conventional wisdom is pretty accurate on this; it is a great help in doing your books. It is also great at getting you in trouble if you don’t know what you’re doing.

Introductory courses are a good start and if every transaction goes by the book, what's not to love? The trouble is that vendors, customers, and even the weather seem to conspire against letting things happen as planned. What if a vendor ships the wrong parts? What if the customer's check doesn't clear the bank? What if that introductory course taught you just enough to be dangerous? Very quickly, your income and expenses become misstated, your bank balance isn't right, and you start having trouble sleeping.

I’m not saying that QuickBooks isn’t a good piece of software to use for keeping your books; it is. Used properly, QuickBooks can function well for most small businesses. Use the reconcile feature so QuickBooks' bank balance will reflect what funds are available and you won't have to check your bank balance every day. Use the reconcile feature for credit cards, too, by recording the expenses as they arise and not just when you pay the bill. Use the standard reports that show profit and loss, the balance sheet, what money you owe or is owed to you, and if your cash is flowing positively or negatively.

If the demands of your business allow you time to learn QuickBooks more than superficially, that's great! However, I'll bet you didn't start your business to keep books. You started it to provide other business owners with technology solutions, or qualified employees, or insurance against the unimaginable. Your time is best spent achieving those goals, not figuring out how to record a returned check.

You do have to have a handle on your business's finances, but not on the nuances of QuickBooks. You know how your time must be spent and it doesn't include hours of bookkeeping. Where to turn? To someone whose knowledge of QuickBooks and business needs can free up the time you need to expand your offerings or grow your business.

If that’s the kind of help that you need, I encourage you to contact me. Together we will find a way to get the books in order and relieve you of bookkeeping stress.

Leave a Reply

Your email address will not be published. Required fields are marked *