As businesses scale, so do their accounting requirements. QuickBooks, the robust accounting software trusted by millions of businesses to simplify payroll, accounts, and tax operations, comes into play.
However, when it comes to getting the best out of QuickBooks’ hidden features, it is beyond businesses that use it for the first time.
Even if you have been using it for a few years, you might miss some of its new time-saving features. No worries; QuickBooks consulting can help you out there.
QuickBooks Consulting refers to the expert assistance provided to businesses for utilizing QuickBooks in the best way possible. QuickBooks consultants provide advanced guidance on more than customization or integration services. A QuickBooks consultant is an expert with in-depth knowledge of using QuickBooks in all versions, be it QuickBooks Enterprise or QuickBooks Online.
Many consultants have taken certifications such as QuickBooks ProAdvisor, which requires in-depth training and practical experience with the software.
In this article…
Why Do You Need QuickBooks Consulting for Your Business?
Overcome the Complexity of Your Business Needs
Imagine you are a small restaurant using QuickBooks to track basic expenses and sales, and eventually, you expand to multiple franchises within a certain time frame.
As a result, you need multi-user access, multi-location reporting, barcode scanning, and payment integrations. So, why not have an all-in-one platform?
Hiring a QuickBooks consultant can help you create a personalized environment for your team and guide you through optimal use. They specialize in identifying the major features to be added to your QuickBooks environment. They customize the software with those advanced specifications.
Save Time and Increase Efficiency
What could a business need more than saving their employees’ time on manual and repetitive tasks so that they can focus on major tasks?
QuickBooks consultants can help you with this. They are experts in configuring the software to help businesses optimize workflows and automate repetitive tasks such as monthly payments, invoicing, bank reconciliation, and more. This reduces your team’s time spent on repetitive tasks.
Ensure Accurate Financial Data and Compliance
We all know that financial regulations update frequently, and adhering to them can be difficult for any entrepreneur. So, having QuickBooks consultants is a good idea. They will guide you on the features, track changes, and ensure that your software is configured for accurate reporting and tax filings.
Take an example of the same restaurant we mentioned earlier that has multiple franchises but faces issues managing them. And if any entry goes wrong, it can lead to inaccurate year-end reports.
With a QuickBooks consultant’s help, you can link your payroll and centralize reporting to the main branch, which helps to avoid IRS audits due to inaccuracy and saves you from costly penalties that can be incurred if you don’t stay compliant with all updated laws.
Handle Complex Accounting Situations
Every business faces bookkeeping complexities at some point. These can be implemented if you need to set up advanced capabilities in your QuickBooks, such as multi-currency transactions, multi-entity consolidations, advanced inventory management, or custom reports.
What to Expect from QuickBooks Consulting?
Initial Consultation and Needs Assessment
When you go for a QuickBooks consultation, the initial step is to have a first call with the consultant, during which the consultant tries to understand your accounting needs, challenges, and goals with the software.
They’ll identify the gaps in your current accounting operations and see the best support they can offer with QuickBooks software to support your business goals.
For example, a small business owner may be looking to migrate from Excel spreadsheets to QuickBooks, while a larger enterprise may need help scaling QuickBooks for multiple departments or locations. The consultant will tailor their approach to suit these different needs.
System Setup and Configuration
The next step is to set up QuickBooks to ensure smooth operations. To configure QuickBooks software, the consultants will set up charts of accounts for expense, sales, and liability tracking and then configure tax rates, including sales and payroll taxes.
Then, they will help you customize fields and forms to simplify your processes. You can also connect QuickBooks to your bank accounts to import and categorize transactions automatically.
Data Migration and Integration
Suppose you’re switching from another accounting system or using manual methods like spreadsheets. In that case, the consultant can assist with data migration and transfer your historical data into QuickBooks without data loss or leak.
They also guide you in integrating all required applications for different needs, such as inventory management, payments, bar code scanning, and more.
Training and Ongoing Support
Once your QuickBooks system is set up, your consultant will provide training to ensure your team is comfortable using the software, including invoice creation and expenses tracker, report generation, bank transaction reconciliation, and more.
Moreover, they support your business when you face troubleshooting or configuration issues.
For instance, if your team needs additional training when you expand your services, the consultant can provide training on using QuickBooks for advanced reporting, handling multi-entity transactions, and setting up payroll for new employees.
How to Choose the Right QuickBooks Consultant
When hiring a QuickBooks consultant, it’s essential to look for someone who has:
- Certifications: A certified QuickBooks ProAdvisor has passed rigorous tests to demonstrate proficiency with QuickBooks software.
- Industry Experience: If your business operates in a specific industry, such as manufacturing, retail, or healthcare, it’s helpful to choose a consultant familiar with its unique challenges.
- Reputation: Check reviews and testimonials from previous clients to gauge the consultant’s effectiveness and customer service.
- Clear Pricing: Ensure that the consultant’s pricing is transparent and that there are no hidden fees. Understand whether they charge hourly rates, project-based fees, or monthly retainer fees.
The Bottom line
QuickBooks consulting is an investment that can pay off in terms of improved efficiency, accuracy, and business growth. Whether you need help setting up your QuickBooks system, customizing it to fit your specific business processes, or receiving ongoing support, a QuickBooks consultant can provide your expertise.
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