QuickBooks is the leading accounting software known for its flexibility and convenience, meeting the needs of small businesses around the world. But how can you capitalize on this? The answer is straightforward: by earning with QuickBooks.
The simplest way to achieve that is to leverage your experience and knowledge of QuickBooks to help businesses manage finances and streamline processes. So, let’s delve deeper into how you can generate income with QuickBooks. To begin with, we have to understand what makes QuickBooks so exceptional and worth discussing in the first place.
Key takeaways:
- Direct methods of making money with QuickBooks include ProAdvisor program, bookkeeping services, and training.
- Indirect methods of making money with QuickBooks span affiliate marketing and efficient resource use.
- To improve QuickBooks expertise and increase earning potential, use training courses and tutorials provided by Intuit.
Contents:
1. What’s so special about QuickBooks?
2. Earning with QuickBooks: Direct methods
3. Be one step ahead while using QuickBooks Online
4. Earning with QuickBooks: Indirect methods
5. Why are employers looking for employees with QuickBooks skills?
6. Learn QuickBooks to make money
7. Conclusion
8. FAQs
What’s so special about QuickBooks?
QuickBooks is widely known software in the accounting industry, with nearly 30 million small businesses choosing it to solve their accounting needs and 333,000 small businesses opting for it for payroll management.
QuickBooks helps with:
- Transaction recording
- Creation of financial statements
- Tax compliance
- Financial analysis
It offers small businesses the convenience of managing tasks such as creating invoices from any device, be it a smartphone, MAC or PC, with access for up to five users.
Within QuickBooks, you can securely sync multiple files in real time and collaborate with the team simultaneously. It makes it easy to sync data and saves time that would otherwise be spent manually entering data or converting file formats.
The are two most popular versions of QuickBooks, that suit different business needs. If you prefer online access, you’ll choose to go with QuickBooks Online, but if you require a locally-installed solution, you need QuickBooks Desktop.
Here are some key differences between them:
| Aspects | QuickBooks Online | QuickBooks Desktop |
| Flexibility | You can work from anywhere with internet access including smartphones, tablets, and PCs. | Requires installation on a specific device. |
| Security | Data stored securely in the cloud. | Data stored locally on the device. |
| Multiple users included | Includes up to five users in the base plan. | Requires additional licenses for each user. |
Key features of QuickBooks
1. Expense tracking
QuickBooks allows users to easily categorize expenses, making it easier to track where money is going and identify areas where expenses can be cut.
2. Invoicing
With QuickBooks, businesses can create personalized invoices. This simplifies the process of billing clients or customers for goods or services provided the process of accepting online payments.
3. Bank reconciliation
Easily review your QuickBooks accounts and compare the transactions from them with an actual bank statement. This process is called reconciliation. When everything matches, it confirms that your accounts are accurate and in balance.
4. Financial reporting
QuickBooks provides a variety of ready-made reports, such as income statements, balance sheets, and cash flow statements. These reports offer information about the financial health of a business, helping in the decision-making process.
5. Payroll management
QuickBooks automates tasks such as payroll, tax withholding, and employee payment processing. It also helps ensure compliance with payroll tax rules.
Do you need QuickBooks certification to earn money?
Yes. Having a certification can greatly increase your earning potential. It demonstrates your experience using QuickBooks, making you a more attractive candidate for jobs or freelance opportunities that require software proficiency. Certification can give you a competitive advantage and increase your chances of making more money by demonstrating your specialized skills in QuickBooks.
Earning with QuickBooks: Direct methods
QuickBooks ProAdvisor program
Lots of businesses need help maximizing their QuickBooks software. This might mean improving how they use it, fixing any technical issues, or adding advanced features to streamline financial tasks.
As a QuickBooks ProAdvisor, you offer customized guidance, training, and support to help businesses make the most of their QuickBooks investment. As your ProAdvisor certification level increases, your average hourly pay rate also increases. At the advanced level, you’ll earn $130 per hour.
Here are the steps to becoming QuickBooks ProAdvisor:
- Create an Intuit account
- Join the QuickBooks ProAdvisor Program
- Complete the training
- Pass the certification exam (80% or higher)
- Choose the QuickBooks version you’d like to specialize in (optional)
- Maintain your certification
Bookkeeping services
Around 60% of small business owners feel they aren’t knowledgeable when it comes to accounting. Naturally, loads of businesses need help organizing their finances, and QuickBooks’ expertise for this task is in high demand. Unlike ProAdvisor, you do not need to take any courses. However, you still must have a degree and be a confident QuickBooks user, as well as be prepared to work with other payment platforms.
If you decide to provide accounting services using QuickBooks, here are the main responsibilities:
- Accurately record financial transactions in QuickBooks;
- Ensure bank accounts and credit card accounts match QuickBooks records;
- Create and send invoices to clients;
- Categorize and monitor expenses;
- Create required financial reports for clients.
QuickBooks training
According to our research, the average price for a QuickBooks training is $400. This depends on the type of course, its duration and the author.
That’s why providing customized training sessions tailored to the specific needs of individuals or businesses is also a great way to earn money with QuickBooks. These sessions can cover a wide range of topics, from basic navigation and data entry to advanced reporting and analysis. The best option will be to create your own QuickBooks training.
Tax preparation services
Since QuickBooks helps organize financial data accurately and efficiently, making tax filing easier for business owners, you can use QuickBooks to offer simple tax preparation services tailored for small businesses. Nobody likes the burden of tax season and there are lots of people who’d rather pay money to get it done correctly than face this task themselves.
If you want to provide tax preparation services with QuickBooks, your responsibilities will be:
- Collect all necessary financial records for tax filing purposes.
- Understand which IRS forms are needed for filing taxes.
- Fill out the requisite tax forms accurately and thoroughly.
- Stay informed about the deadlines for small business tax filings.
- If necessary, file for a business tax extension to secure additional time for tax preparation and filing.
To do this, you’ll need to work with vast amounts of financial data usually from multiple business units in use. In such situations, manual entry might become an obstacle, causing entry errors due to human factors. You can choose either to face the outcome of all the discrepancies or stay ahead of the curve and use automation software.
Be one step ahead while using QuickBooks Online
Being a confident QuickBooks user is one thing, but how can you save thousands of hours of manual work a month? Here’s a solution: Synder Sync — an accounting software that makes managing your clients’ financial information easier.
By connecting your clients’ sales channels and payment platforms with QuickBooks Online, Synder ensures that all transactions are accurately recorded and categorized in real time, keeping the financial records up-to-date. This helps maintain everything consistent across platforms by handling customer information, sales tax, inventory, and shipping costs.
With Synder, you can avoid the hassle of manual data entry, simplify your accounting tasks, and improve your overall online sales process.
Grab your chance to improve your business operations by using Synder’s free trial. For additional insights and advice, reserve your spot in Synder’s informative Weekly Public Demo.
Note: Synder supports integrations with both QuickBooks Online and QuickBooks Desktop.
Earning with QuickBooks: Indirect methods
Affiliate marketing
You can make money indirectly with QuickBooks by becoming an affiliate. This means promoting QuickBooks products and services to your audience, whether through your website, blog, or social media platforms.
When someone makes a purchase or signs up for a subscription using your unique affiliate link, youэll be able to earn a commission up to 10% of sales for every sale.
Efficient use of time and resources
Using QuickBooks effectively may not generate direct income, but it can still improve your finances in other ways. In fact, according to Intuit, over 90% of customers say that QuickBooks helps them run their business more easily.
By mastering QuickBooks and simplifying your tasks, you’ll save time that was once eaten up by repetitive administrative work. This extra time can then be invested in income-generating activities, such as growing your business or attracting new clients.
Why are employers looking for employees with QuickBooks skills?
Every business has bills to pay. Therefore, employees with such skills on their resume will be more useful to the company. Of course, your work may not be directly related to accounting, but QuickBooks can be helpful in other areas.
What QuickBooks skills are employers after?
1. Computer skills
Since QuickBooks is a computer program, it goes without saying that you’ll need basic computer skills to use it. Although not everyone knows every detail of such complex software, computer literacy makes it easier to understand. This means you can troubleshoot problems and navigate the program more efficiently, improving your overall QuickBooks experience.
2. Mathematical literacy
QuickBooks is designed to manage financial data, so being able to work with numbers is important. Although the program has built-in calculators, a clear understanding of numerical values helps you identify and correct errors more effectively. Whether it’s catching typos or identifying inaccuracies in reported numbers, knowing math concepts will ensure your financial statements are accurate.
3. Accounting
QuickBooks simplifies accounting tasks, but having accounting experience is still helpful. While the software executes commands, understanding accounting principles helps manage its operations effectively. The combination of software proficiency and accounting experience enables thorough financial management and strategic planning.
Now you know that it’s possible to make money with QuickBooks. But what if you don’t fully understand this software yet?
Learn QuickBooks to make money
Before making money with QuickBooks, you have to learn how to use it. There are several affordable and effective ways to learn how to use QuickBooks:
- QuickBooks Training
- QuickBooks Tutorials
- QuickBooks Learning Center
QuickBooks Training
QuickBooks training on the Intuit website is suitable for both beginners and advanced users.
With Intuit QuickBooks training you’ll learn:
- Basic navigation
- Setting up accounts
- Recording transactions
- Invoicing and billing
- Bank reconciliation
- Financial reporting and management
- Inventory management
- Troubleshooting and support
If you’re short on time, choose online video training for self-paced learning with lifetime access to the materials. Also, take live classes in different locations for a more interactive experience.
Note: QuickBooks training costs about $800.
QuickBooks Tutorials
QuickBooks Tutorials provided by Intuit offer a number of free training videos to help you effectively complete a variety of tasks. These videos are short and easy to watch, usually lasting between one and three minutes.
For example, you can watch these tutorials on the QuickBooks Intuit website:
- Introduction to QuickBooks Online
- How to Manually Import Bank Transactions Using CSV Files
- How to Import Data Using Excel
- Connecting Your Bank in QuickBooks
- How to Customize Your Invoice in QuickBooks Online
- How to Add Customers in QuickBooks
Whether you do invoicing, sales, taxes, inventory, or accounting, QuickBooks Tutorials has you covered with accessible resources and webinars.
QuickBooks Learning Center
Don’t like training and tutorials? You can easily access the QuickBooks Learning Center directly from the Help menu within the program itself. Here you’ll find many resources, including:
- PDF guides;
- quick learning modules;
- and a platform for interacting with other users.
Conclusion
QuickBooks solves a huge number of accounting issues for businesses. What does it mean for you as a bookkeeper or accountant? You have more opportunities to increase your value as a specialist and earn money. Especially since employers highly value people with QuickBooks skills as they contribute to effective financial management within the organization. What’s more, QuickBooks skills can simplify your workload, giving you more time to focus on income-generating activities.
FAQs
How to make money with QuickBooks?
There are two ways of making money with QuickBooks:
- Direct methods: QuickBooks ProAdvisor program, bookkeeping services and QuickBooks training, tax preparation, invoicing and payment services;
- Indirect methods: Affiliate marketing and efficient use of time and resources.
How can I become a QuickBooks ProAdvisor?
To become a QuickBooks ProAdvisor, start by creating an Intuit account and joining the QuickBooks ProAdvisor Program. Then, complete the training, pass the certification exam, and optionally specialize in a QuickBooks version. Don’t forget to maintain your certification.
Why do employers seek candidates with QuickBooks skills?
Employers look for candidates with QuickBooks skills because it shows that they can effectively handle financial tasks, which is essential for managing the organization’s finances efficiently.
Share your thoughts
Are you a confident QuickBooks user with a ProAdvisor certification? Or are you just starting your QuickBooks journey? Either way, what’s your experience with QuickBooks so far? Share your tips and thoughts in the comments section below.
