Why QuickBooks Self-Employed Is Important to Accountants?

A full-fledged organization with a number of employees and multiple management levels do have QuickBooks accounting software installed in the system.

However, the volume of self-employed individuals is rapidly rising in recent times. Given to the software needs of these individuals, QuickBooks has come up with yet another tech-savvy product called QuickBooks self-employed. A QuickBooks self-employed software solution is a necessity for accountants as it makes calculations easier, thereby minimizing accounting and payroll confusions.

QuickBooks Self-Employed – An Overview

The software product has specifically been designed for small businesses, especially for those who have the one-person business without any more employees involved with them. In short, the software is meant for self-employed individuals. In case of a self-employed individual, it becomes difficult to track income and expenses records accurately.

With QuickBooks self-employed software solution, maintaining and keeping such records become simpler. The major issue with the calculation is the struggle with tax computation. It is quite a time-consuming process that only delays the whole process. The software, on the other hand, allows accountants to fulfill their tax needs in a hassle-free manner.

QuickBooks Self-Employed – Why Important to Accountants

The QuickBooks self-employed solution is, of course, advantageous for clients but it is even more beneficial to accountants. The technical features and functionalities that are offered by the product simplify the tax recording process and make the income and expense tracking easy.

The integration of the software with QuickBooks Online Accountant makes the tracking, monitoring, and recording of data an automated process. Accountants get an access to the Accountant specific tools that help them in the proper management of clients’ financial information.

QuickBooks Self-Employed – Features

Besides the integration with QuickBooks Online Accountant feature, QuickBooks self-employed solution also has many other features that make it the first choice of accountants.

Easy Tax Computation

When you start using the software, you can never miss out on any kind of tax you’re liable to pay. The tax computation feature enables you to calculate the federal quarterly estimated taxable amount (commonly known as SE Tax) based on the income throughout the year. The U.S. edition is so designed that it works on the pay-as-you-earn tax formula, which is in accordance with the normal U.S. system.

Mileage Tracking is Automatic

The mileage expense option lets you keep track of actual expenses against standard mileage expense. Hence, a mileage log is created accordingly. The best thing about the feature is that the mileage app allows the automatic tracking of the mileage in the background on your phone or other devices rather than having you to record it manually on paper.

Business & Personal Transactions Remain Separated

With QuickBooks self-employed solution, self-employed individuals can easily separate the business and personal transactions. Hence, it is easy to use for individuals who are a novice in the field.

QuickBooks Self-Employed – Advantages

  • Completely cloud-based accounting
  • Dashboard makes it simple to use with an easy navigation bar
  • Multiple banks and credit card accounts can be connected
  • The software offers P&L statement and a tax detail report for proper Schedule C tax preparation. You can also get it in Excel format

Accountsportal.co Technical Support – Scope of Service

We, at Accountsportal.co, offer efficient QuickBooks technical support helpdesk service to clients and customers. From assisting you with how to use the software product to resolving all your technical issues, our QuickBooks technical experts are available for anything and everything you need. Our Accountsportal.co technical team of experts is available for you to 24*7.

The tollfree number is ✆+1-800-796-0471.

Last modified: June 13, 2018
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