Crystalynn Shelton Talks to the 5 Tips to Make QuickBooks Effective as a Small Business Owner on The Systems and Workflow Magic Podcast

In a recent episode of The Systems and Workflow Magic Podcast, Licensed CPA and QuickBooks Top 100 ProAdvisor Crystalynn Shelton dove into QuickBooks and all it can do for small businesses when it comes to their books and finances. She shared quick tips, the best features seldom heard of, and some secrets to make bookkeeping EASY.

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Organizing financial data is essential to gaining a better understanding of the health and performance of a business. QuickBooks makes it easy to track income, expenses, and inventory in one secure place. With QuickBooks Online, people can create invoices and estimates; manage projects; access reports anytime, anywhere; connect their bank account for a seamless online experience; and collaborate with their accountant. Here are some top tips to help make QuickBooks even more effective for business owners:

  1. Establish a Clear Chart of Accounts: A chart of accounts (COA) is the backbone of any financial system, and it’s essential to think through what accounts people want in QuickBooks before getting started. Setting up a clear COA will help them categorize and track their finances.
  2. Utilize the Automated Reports: QuickBooks offers more than 80 automated reports that can be used to gain insights into how a business is doing. These reports can provide valuable information about customers, vendors, sales, taxes, profit/loss, and more.
  3. Take Advantage of Connected Apps: QuickBooks integrates with many other apps, so people can easily sync and manage data from different sources in one central location. People can also automate tedious tasks like invoicing and payment processing using connected applications.
  4. Set Up Recurring Transactions: Setting up recurring transactions helps business owners ensure that they can maintain accurate records of payments and expenses. With QuickBooks, they can easily schedule one-time or repeating transactions such as invoices, bills, checks, and credit card charges.
  5. Take Advantage of Tracking Categories: If people want to get detailed insights into their finances, QuickBooks provides two tracking features that can help – class tracking and location tracking. Business owners can use these features to track finances by department, location, project, or customer.

By utilizing these top tips, business owners can significantly improve their experience working with QuickBooks and ensure they get the most value from the software. With QuickBooks, people can gain real-time insights into the financial health of their business and make informed decisions that will help their company succeed.

Crystalynn shared: “I feel this topic is so important because it’s key to have someone who does have the knowledge to set it up properly for you and to teach you how to use it. Even if you can’t afford to have someone on the day-to-day, you’ve gotta get the setup right.”

About Crystalynn Shelton

Crystalynn Shelton is a licensed CPA and QuickBooks Top 100 ProAdvisor helping startups, small businesses, and million-dollar companies alike take control of their finances through accounting software training and consulting.

Crystalynn’s number-crunching interest was sparked after taking a high-school bookkeeping course, and on completing the course, she was determined to become a CPA. For the last 20 years, she has done just that, leading accounting departments for Fortune 500 companies like Intuit, Texaco, and Paramount Pictures.

In 2010, Crystalynn went on to found her own consulting business. Since then, she has gone on to publish Mastering QuickBooks, a three-time Amazon Bestseller now in its fourth edition, and coached more than 100 clients, all the while serving as an Adjunct Instructor at the University of California, Los Angeles (UCLA) for the last 13 years teaching bookkeeping and QuickBooks courses.

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