QuickBooks Overview

Quickbooks Online (QBO) is essential to our business because it provides a combination of functionalities that no other software service packages together for a small business of our size. Our small business ships products across the US. We collect and remit sales tax to 43 different state jurisdictions, so in addition to handling our accounting, bookkeeping, tax preparation, issuing our 1099s and giving our CPA access to our books. Quickbooks Online also serves the critical function of calculating the sales tax due with each package we ship. When I create an invoice for our customer through QBO, I enter the 'Ship From' and 'Ship To' addresses, and the software automatically calculates the amount of sales tax that we need to collect and adds it to the invoice total before I send it to our customer. In case you don't know, every state has different sales tax requirements and depending on where you are shipping. You may need to collect sales tax at the state, county, and city level jurisdictions. But QuickBooks does all the calculations for you and is accurate more than 99% of the time. And when it comes time to file our sales tax returns to each state, QuickBooks Online has helpful reports to show the amount due for each jurisdiction.