Not 1 … but 2 Big Benefits for Payroll Within QuickBooks Online

You’ve probably heard me say it before, but QuickBooks Online (QBO) is simply a must-have for small businesses.

With the power of QBO, Sound Business Services (SBS) can get you the data and information you need at your fingertips anywhere at anytime, help you drastically improve communications with your team, and get you connected with the amazing apps that integrate with QBO and best suit your specific business. The result: a solution that helps you grow your business like never before and enjoy the success you deserve as a small business owner.

One of the nicest things about QBO is that Intuit is constantly listening to its customers and looking to improve your experience, equipping you with the tools you need to grow your business. The latest new features do just that!

New and Improved Direct Deposits

Hiring contractors is a no brainer, but paying them is another story. It’s not easy keeping track of unpaid contractor bills, while not paying them on time is frustrating for the worker and may drive away good, quality help.

That’s a thing of the past with the new and improved direct deposit feature within QBO Payroll. Now, when you’re ready to compensate a contractor or vendor, you’ll get full transparency of all unpaid bills, which you can now pay with direct deposit. That’s right – no more paper, no more chasing down lost or misplaced information, and no more headaches.

On top of that, once bills are paid in full, the system closes them and eliminates duplicate transactions. That makes our job easier and your books much cleaner. The system also allows editing direct deposits at any point, before or after you pay your contractors. This enables both of us to jot down notes for further discussion, as well as recategorize transactions, if needed. Now, that’s a win-win!

Plan for Emergency and Help With New Workers’ Comp Feature

As small business owners, we must be fully aware of all risks and situations that may arise with our staff. When it comes to injuries on-site, having a workers’ comp system in place is crucial.

That’s why Intuit now has workers’ comp quotes available at your disposal within QBO. So, after completing a simple process of paperwork online (yes, in actuality, no paper!), you’ll not only protect yourself from potential lawsuits, but also get your staff the medical coverage and wage replacement they need, if they do have an injury while at work.

Once signed up, workers’ comp will be connected to your payroll and ready to roll, providing you peace of mind and much-needed assistance for on-the-job injuries.

You Can’t Do It Alone – We are Here to Help

While Intuit does a great job providing these key features and improving your experience every day, our help and expertise is vital to getting you the best solutions when and how you need them. Otherwise, you’re facing an uphill battle where too much of your time is taken away from doing what you do best – running and growing your business – not to mention dealing with complex issues that are foreign to you.

So, if haven’t taken the plunge to QBO, or are ready to get these features integrated into your current QBO, contact us today. Either way, you’ll be better equipped for pleasing and keeping your hard-working staff and growing your business.

(Images courtesy of Intuit QuickBooks)

3 Tips to Get Ready for Year-End

With the holidays right around the corner, many of us see presents, much-needed R&R and perhaps a nice vacation in our near future. But, as small business owners, there are many areas we must strategize before year-end, setting ourselves up for a great new year ahead.

While there are many things we can do, here are three pressing tips to pursue before year-end so that you and your business can not only grow and reach your potential, but also set the foundation for a brighter future.

Tip #1: Use a payroll system that utilizes 21st century technology. With year-end fast approaching, now is the perfect time to find a payroll system that delivers and elevates your business.

You probably know that we do bookkeeping, but did you know that Sound Business Services also specializes in handling your payroll? That’s right – whether it’s setting up accounts, getting employees on-boarded or running payroll on a regular basis, we’ve got you covered. And, our go-to payroll app is Gusto.

Gusto is super easy and super efficient; in fact, Gusto found that 72 percent of their customers spend five minutes or less running payroll. With the power of Gusto and the knowledge and experience we have at SBS, you will enjoy a much more streamlined, efficient process that saves you time, allowing you to do what you do best – run your business and help it grow.

Through this combination, you will enjoy many benefits. For example, employees can track their paid time off online. You also can enable self-onboarding, where you simply send employees a link to put everything in, creating a much more secure, efficient process that’s void of errors. On top of that, the payroll platform puts you in control as the small business owner. You have your staff’s login to see their pay stubs and W-2s, updated contact info and withholdings, and much more. Gusto also has a very streamlined way of offering health insurance.

Of course, we can help you migrate to Gusto and make sure you get the most from the app and our expertise. Let us know if you have any questions or want to get started!

Tip #2: Embrace the cloud. You may have heard me say it before, but simply put, the cloud is a must for small business growth and success.

With the cloud, you receive numerous benefits, including anywhere, anytime access, a complete transformation in team communication and success, and paperless time tracking, where you no longer have to sort through those pesky receipts piling up on your desk, allowing you to complete tasks and meet deadlines much more efficiently.

This is all possible because of the powerful integration of QuickBooks Online (QBO) and the amazing number of apps that integrate with QBO. If you’re not on QBO, you must take the leap of faith and watch your business soar! Of course, we will be with you every step of the way. And, as far as apps go, there are so many, but let’s touch on a couple of our favorites.

One app we love is MileIQ. With year-end in mind, mileage tracking is so important. With MileIQ, you can track your mileage in real time by simply setting up the app. So, whenever you’re on the go – perhaps to your next business meeting or delivering something to a customer – your miles are tracked, making our job and your reporting so much easier. Features include automatic tracking, reporting at your fingertips, and the ability to give your route a specific name to clarify if it’s for business or personal.

Another app is Bill.com. As a bookkeeper, I can truly say that this is an absolute blessing. Through Bill.com, we are able to bring you a consistent billing strategy, as well as automate your accounts payables and receivables.

Of course, there are so many more apps to choose from, and SBS will make sure that you get the apps that work best for your specific business. So, don’t hesitate to reach out to us today. 

Tip #3: Committing to a forward-looking approach in your business. As small business owners, one of our biggest challenges is finding time to work on our businesses rather than in them. But, it doesn’t have to be that difficult – in fact, you can transform your business in a short amount of time.

At SBS, one of our biggest goals is helping you do this and getting you the information and strategy you need to not only skyrocket to business success, but also live the happier and healthier lives you deserve.

That starts with KPIs, or key performance indicators. When it comes to accounting, so many businesses are focused on the past. But, the key to growth is utilizing past data to look forward and make changes. With KPIs, we are able to do this, finding all the important information and data we can to help you grow your business and reach your goals.

We will have monthly meetings with you, going over monthly projections and budgeting, discussing trends, celebrating successes, and learning from mistakes.

We are Here to Help 

We know that being so close to the holidays, it’s tempting to envision family time and rest and relaxation, and put off our businesses. But, as small business owners, we are doing ourselves an injustice if we don’t progressively plan for a strong year-end and a great year ahead.

We also know that a lot of this can be overwhelming, but don’t worry because we are here to help every step of the way.

So, if you’re ready to implement this trio of tips for year-end, or simply want to discuss any of them, contact us today. You’ll be on your way to a strong finish to 2018, more peace of mind heading into your holiday and a brighter 2019!