Integrating QuickBooks with a cloud based rental software neatly trims the accounting landscape of your business. It doesn’t matter if you rent out furniture, party supplies or heavy construction equipment, QuickBooks rental software reconciles your bookkeeping data in seconds!
It comes in both desktop and online versions that are compatible with most of the rental software out there.
You can generate accounting reports, pay bills, invoice customers, track expenses and do a lot more. The automatic sync-up of your fiscal transactions to a single dashboard allows you to view detailed reports and accounts whenever you wish.
Here’s how using QuickBooks integrated rental software can streamline the entire workflow of your rental business.
1. It helps you track your expenses and income
QuickBooks compatible rental software allows you to keep tabs on your bills and expenses by adding your credit card and bank accounts information to it. It further allows you to categorize your expenses by their types.
Transactions made via check and cash can be tracked and recorded directly to QuickBooks in the blink of an eye. It also facilitates online payments of your bills and sends payment alerts as invoices, emails, and statements.
QuickBooks even keeps you ahead of your payment cycle. For instance, you purchased an asset or sent some items for maintenance and you have charges due for those. QuickBooks allows you to create an accounts payable report so you can view details of all your past and current maturing bills, and pay them before they run overdue.
Furthermore, QuickBooks also allows your customers to make payments using their credit cards or electronic funds transfer (EFT). They can pay using MasterCard, Visa or American Express. Managing accounts with QuickBooks is easier when it allows you to sync data from apps already being used such as PayPal, Square etcetera.
It categorizes your transactions so you can track your earnings and expenditures separately.
2. It keeps your financial information updated
Another benefit of integrating QuickBooks with rental software is that your reports are always up-to-date. It handles multiple accounting tasks automatically. So, generating your current business reports is only a click away!
These reports are also updated in real-time as soon as transaction information is entered into the system. This means you don’t have to wait until the end of each month to see where your business stands.
Managing all the cash inflow and outflow activities in QuickBooks gives you valuable insights into your business. With detailed accounting data, you can create a diverse range of financial reports. These may include trends and forecasting documents, annual income reports and statements of cash flows.
QuickBooks is your quick win to accessing valuable financial information regarding your business at all times.
3. It manages your sales on a customer basis
QuickBooks integration helps you track sales on a customer basis. It syncs with the customer data in your rental software, and allows you to create invoices and receipts for each customer.
In addition to this, every time you rent out an order, a new customer is simultaneously created on QuickBooks, whether their details have been initially added to the rental software or not.
It also gives you an option to bill customers either individually or in bulk. The latter proves useful when you have to charge multiple customers for the same rental service. It just helps you squeeze out that extra second you would have wasted by billing customers individually for an identical order.
You also know what your customers owe you from the ground up as QuickBooks keeps track of both your past and current accounts receivables.
QuickBooks automatically syncs an order, whichever stage it may be: booking, renting out or returning. You also have the freedom to manually sync any changes made to an order by choosing the ‘Sync Invoice with QuickBooks’ option. This ensures that all your data regarding payments and customer details is almost always updated.
4. It integrates with hundreds of applications
There are many standalone accounting systems out there that help you manage your financial transactions. However, what they don’t help you with is hitch-less data transfers and compatibility with your existing rental software.
Before they start with their bookkeeping, many rental business owners squander countless hours trying to integrate their rental systems with the accounting software. The last thing you want working so hard on is sorting out system compatibility issues.
QuickBooks is a perfect fix to all these problems. It integrates with over 400 different business applications. This leads to faster and more streamlined rental processes. You can save your time and work on other crucial tasks that need immediate attention.
5. It’s easy and time-saving!
With thousands of customers to satisfy and plenty of financial data to crunch, staying ahead of your accountancy game can be a time-bound challenge.
QuickBooks rental software comes with a variety of tools to help you manage your books from time sheets, invoices to payrolls. It has multiple features to organize your accounting data, and covers all your paperwork and bookkeeping needs, making your life much easier.
It also gives you complete control over your data. You can automate your data backup process and make sure all financial information is uploaded in a secure cloud based platform. A secure and consolidated data means you won’t be spending hours fishing in for the information you can’t find.
QuickBooks rental software makes your accounting processes smart yet simple
Integrating QuickBooks with your rental software greatly streamlines your rental process and transactions. It takes care of every little accounting task; be it managing all your expenses, generating invoices, clocking in customer details, recording bills or updating financial information in real-time.
Furthermore, it is even compatible with a multitude of existing applications saving you tons of time and money. With QuickBooks as your rental business partner, you can carry out your business without a hitch.
EZRentOut is QuickBooks-supported rental software, designed to offer businesses seamless rental management with a host of other features like asset tracking, maintenance management, a Webstore, and much more. Try us out today!