Why QuickBooks Add-Ons Are So Important?

QuickBooks is the most powerful small-business accounting package, but it is not always enough to do everything in business needs or in some cases even after having ability, not so efficient. So, in this scenario, QuickBooks add-ons come in the picture which is created by its developers to fill this lack and make QuickBooks more robust. The add-ons help small businesses with everything from fine-tuning strategy and automating aspects of inventory management to setting up a store in Facebook, lowering shipping costs, and more. It not only simplifies your record keeping needs and makes you more efficient using QuickBooks Add-On Software but also enhances the power of QuickBooks. Interestingly, these add-ons are either absolutely free or somewhere comes in a very low price. These add-ons are developed independent of Intuit and thousands of developers are continuously working towards it. If we want to summarize the benefits of QuickBooks add-ons, the concrete benefits goes here: • It saves us from double data entry • It minimizes entries with customer & supplier data • It helps us to customize our business management system • It enhances speed and accuracy results • It helps us to run your small business more efficiently In some cases like inventory tracking, Human Resource Administration, these add-ons become must because of its unique functionality of efficiently handling these tasks. A perfect example of the need for inventory tracking, while QuickBooks tracks inventory, the inventory module has its limitations and falls short of the full functionality that many end users need. For example, QuickBooks can only employ average cost inventory, and users cannot choose another costing method such as FIFO which are more proper for many businesses. We have a lot of small and major add-ons available in the market but here, we are going to describe about some important add-ons and their functionality. 1- Corelytics Financial Dashboard: It's a subscription-based Web service, provides insight into your business by analyzing the data it draws from your QuickBooks and presenting the results in easy charts and graphs. In addition to tracking performance across multiple business lines, Corelytics shows you how your business stacks up against others in your industry, and it generates forecasts. 2- SOS Inventory: QuickBooks Online puts lots of business information and processes at your fingertips from a browser, but inventory features are not its forte. SOS Inventory integrates with QuickBooks to offer businesses with inventory management, sales order processing, and manufacturing support tools, all accessible from desktop or smart phone browsers. Advanced features include support for inventory in multiple locations and the ability to track items by serial number and cost history for specific items. 3- Integrate FileMakerPro: FileBooks Link is the FileMaker Pro add-on to QuickBooks that provides real-time, two-way data integration between FileMaker Pro and QuickBooks. You can import any transaction into QuickBooks from another software package using an .iif file. An .iif is basically a tab-delimited txt file with an iif file extension. Follow the link to QuickBooks.com for sample .iif files. You can open the sample iif file in Excel. You need to map your exported txt results to the format in the sample file. View the help topic (pdf file) on importing transactions on a pdf file. 4- Handle foreign currencies: It enables QuickBooks to deal with foreign currencies efficiently. After we tell QuickBooks that we will be working with multiple currencies, we need to set up a bank account for each extra currency in which you want to work (currencies in addition to your home currency). After that, you can show which currency a vendor or customer uses when you set up a new vendor or customer. 5- Electronic payment from customers: It works with QuickBooks in dealing with payment activities while are electronic. We can have all new customers give their bank information which we will set-up to automatically withdraw their money on the due date. This will help us to avoid statements, telephone calls, collection agencies. The list of QuickBooks add-ons do not end here, it continues for very long with its features. As we discussed above, some comes free and some paid but either its free or paid, all have some unique advantages. Now a days, QuickBooks add-ons integration is very simple with QuickBooks hosting and a lot of QuickBooks Hosting providers are providing solutions for it.