At the end of the year, businesses focus on two major concerns: making purchase decisions that maximize tax savings and bringing order into the chaos that is documentation, inventory, budgeting, and so on. Unfortunately, we are generally too busy the rest of the year to systematize processes in order to improve their efficiency. As such, the end of the year is more chaotic than it has to be!
In order to help with this, apps that work with QuickBooks Online can be utilized to avoid errors and unnecessary work and to improve customer experience. Here is a list of five areas that need support and the app that can help streamline the process.
- Document Management – HubDoc
Sorting documents is one of the most tedious tasks that business owners must contemplate. HubDoc, a web-based, document storage application, makes it easier. HubDoc can be linked to financial institutions, and documents can be downloaded and sorted automatically, saving time and frustration.
- Inventory Management – SOS Inventory
Physical inventory is a time-consuming task that can be expensive and frustrating. Instead, rely on SOS Inventory, an app that keeps track inventory, sales order management, manufacturing/assemblies, lot numbers, and more. A must have for QuickBooks Online users that manage inventory.
- Budget Management – LivePlan
LivePlan can provide budget planning tools in QuickBooks but is so much more! It walks through the entire business plan process to help businesses find the focus they require or lack. It compares to other businesses in the industry and keeps a running scorecard of results.
- Customer Relationship Management (CRM) – Method:CRM
Year-end is also the perfect time to evaluate CRM by using Method:CRM. It not only maintains a separate database from QuickBooks Online but also tracks details of customer interactions, the “next steps” in the sales process, and promotional campaigns. An affordable CRM product is invaluable.
- Electronic Payment Management – Sync with PayPal
Instead of manually recording PayPal transactions in QuickBook, Sync with PayPal will automatically download transactions into QuickBooks Online to streamline the entry process. Payments, fees, discounts, and taxes all flow seamlessly into the accounting software and eliminates the time consuming task of manual input.
Year-end is the perfect time of the year to evaluate your business and where it is headed. Using the right apps eliminates hours of work and gives you more time to concentrate on improving your business. A good accountant will help you create the QuickBooks ecosystem that is right for you!