Advantage of QuickBooks Add-Ons in QuickBooks Hosting Environment

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 the ability, it is not as efficient. So, in this scenario, QuickBooks plugins appear in the image which are created by its developers to fill this lack and make QuickBooks more robust. Plugins help small businesses with everything from fine-tuning strategy and automating aspects of inventory management to creating a Facebook shop, reducing shipping costs, and more. You not only simplify your record-keeping needs and make your office more efficient using Advantage of QuickBooks Add-Ons Software, but it also enhances the power of QuickBooks. Interestingly, these plugins are absolutely free or have very low prices. These plugins are developed independently of Intuit and thousands of developers are continually working to achieve this. If we want to summarize the benefits of QuickBooks add-ons, the specific benefits go here:

• Saves us from double data entry

• Minimize entries with customer and supplier data

• Helps us customize our business management system

• Improves speed and accuracy results

• Helps us run your small business more efficiently

In some cases like inventory tracking, HR management, these plugins become a must due to their unique functionality of handling these tasks efficiently. A perfect example of the need to track inventory, while QuickBooks tracks inventory, the inventory module has its limitations and falls short of the full functionality that many end users require. For example, QuickBooks can only use average-cost inventory, and users can’t choose another costing method, such as FIFO, which is more suitable for many businesses. We have many small and large plugins available in the market, but here we are going to describe some important plugins and their functionality.

1- Corelytics Financial Dashboard: It is a subscription-based web service that provides insights about your business by analyzing the data you pull from your QuickBooks and presenting the results in simple charts and graphs. In addition to tracking performance across multiple lines of business, Corelytics shows you how your business compares to others in your industry and generates forecasts.

2- SOS Inventory: QuickBooks Online puts a lot of business information and processes at your fingertips from a browser, but inventory features aren’t its forte. SOS Inventory integrates with QuickBooks to offer businesses tools for inventory management, sales order processing, and manufacturing support, all accessible from desktop or smartphone browsers. Advanced features include support for multi-location inventory 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 for QuickBooks that provides real-time, bi-directional 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 must map your exported txt results to the format in the sample file. See the help topic (pdf file) on importing transactions into a pdf file.

4- Handle foreign currencies: allows QuickBooks to handle foreign currencies efficiently. After telling QuickBooks that we’ll be working with multiple currencies, we need to set up a bank account for each additional currency you want to work in (currencies other than your local currency). After that, you can show which currency a provider or customer uses when you set up a new provider or customer.

5- Electronic payment of clients: It works with QuickBooks in the management of payment activities while they are electronic. We can have all new customers provide their bank information, which we will set up to automatically withdraw your money on the due date. This will help us avoid statements, phone calls, collection agencies.

The list of QuickBooks plugins does not end here, it goes on for a long time with its features. As we discussed earlier, some are free and some are paid, but whether it’s free or paid, they all have