If you own a business in South Africa or you are an accountant, you should have an idea about QuickBooks. This is a very important accounting software used by businesses for several purposes.
We will discuss QuickBooks and its uses in this post. Most of all, we will talk about the prices of QuickBooks in South Africa. At the end of this post, you will know a lot about QuickBooks and how to lay your hands on yours in South Africa.
What is QuickBooks?
Just in case you haven’t heard about QuickBooks, let’s help you out. QuickBooks is an accounting business software that is used in the management of sales, expenses, and daily transactions. Businesses make use of this software to issue invoices, generate reports used in planning, pay bills, and tax filing.
QuickBooks is a whole product line that is designed to offer several solutions to small and medium scale businesses. You have to know which one works best for your business before buying it. If you don’t, it will end up being a waste of funds and effort.
QuickBooks prices in South Africa
The table below shows you the average price of the different QuickBooks packages in South Africa.
|QuickBooks Pro 2016 – Single User||R 3,599|
|Additional QB Pro 2016 Installation Key Code||R 2,200|
|QuickBooks Premier 2016 – Single User||R 4,799|
|Additional QB Premier 2016 Installation Key Code||R 2,750|
|QuickBooks Accountant 2016 – Single User||R 5,699|
|Additional QB Accountant 2016 Installation Key Code||R 3,300|
|Quick Payroll Start-Up, Suitable for 1-5 Employees||R 599|
|Quick Payroll Lite, Suitable for 1-20 Employees||R 1,099|
|Quick Payroll, Suitable for 1-120 Employees||R 4,399|
|Per 10 Extra Employees (Quick Payroll cannot exceed 200 Employees)||R 500|
Uses of QuickBooks
There is a lot you can do with QuickBooks. It all depends on how much you know about it. In this section, we provide you the top 8 uses of QuickBooks to small and mid-scale businesses.
- Manage income and sales
With QuickBooks, you are able to create invoices that will help to track customer patronage. You are also able to track income and sales over a specified period.
Asides this, you can check how much customers owe your business by using the Accounts Receivable Aging Report. This report usually provides access to past and currently due invoices.
- Track bills and expenses
Most business owners find it difficult to track bills and expenses probably because of the long processes. With QuickBooks, this is a very easy process since you can have both your credit card and bank accounts connected.
This means that you can record cash and check transactions within a few minutes on QuickBooks. You also have access to paying bills on this platform within two minutes. To do this, you only have to create an Accounts Payable Report.
- Gain important reporting insights for your business
Since you are able to manage your inflow and outflow using QuickBooks, the platform provides access to so many reports. These reports will make you see a lot of important information about your business.
With this information, it becomes easy to draw up the financial section of your business plan. This will help you out when seeking new investors for your business. Some of the major insights you can generate include:
- Profit and loss report
- Balance sheet report
- Statement of cash flows
No matter how efficient you are, you really don’t want to work on your payroll manually. Many accountants and business owners make a lot of mistakes doing this.
You can save yourself the stress and mistakes by using the payroll function on QuickBooks. Here’s some news you’d really want to hear. The payroll system is integrated with the other financial reports which ensure that you are up to date on all fronts.
Here are a few benefits of the QuickBooks payroll system:
- Payment of employees via check or cash.
- Taxes are calculated with ease and promptly.
- The payroll tax forms are filled by QuickBooks automatically.
- It is possible to make direct payments from QuickBooks.
This is another aspect of business that proves to be quite difficult. With QuickBooks, it has become really easy to maintain inventories, check existing prices, update prices, etc.
Though most of these functions are possible on MS Excel, it is stressful and time-consuming. This challenge is fixed with the QuickBooks system.
- Simplify taxes
We all dread the tax season when we have to calculate taxes. This has changed because of QuickBooks as it makes consolidating taxes very easy. Once you learn how to use it properly, you wouldn’t have any issues as the tax season approaches.
- Accepting online payments
When you offer customers the opportunity to make payments online, you have made sales better for your business. As we draw closer to a cashless economy all over the world, more and more people are convenient to transact by paying online.
QuickBooks makes this type of payment easy and possible for small businesses.
- Scan receipts
When you are able to track your receipts, it is very easy to get accurate reports across all fronts. This is what QuickBooks makes happen for you. Since all your receipts are generated and scanned into the system, you know that they are all in one place.
Now you don’t have to bother about lost receipts anymore.
A few FAQs
One of the best ways to understand a system is by going through the FAQs page. We have a few of these FAQs about QuickBooks answered in this section.
- Do you have to be an accountant to use QuickBooks?
The interface is user-friendly so you don’t have to be. This is what separates it from the other accounting software on the market.
- Can you get a crash course on QuickBooks?
You really don’t need one. This doesn’t mean that you should get one if you are interested. You can access a crash course online for a small fee and there are several free tutorials.
- How does QuickBooks work?
This software provides financial tracking for small and medium-sized businesses. It also meets the reporting needs of these businesses. The software is very easy to use so you don’t need any special courses.
QuickBooks is a very important software that has made business accounting very easy. You can get one of the packages that suit your business in South Africa by visiting the QuickBooks official