Stock Your Small Business Finance Toolkit (is Your Small Business Finance Department in Chaos?)

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Is Your Small Business Finance Department in Chaos?

When you own and operate a small business, finance confusion is the last thing you want to contend with on a regular basis.  It's important to keep all of your small business finance tasks separate from your personal finances.

If you're looking at launching a small business start-up, then your finances are even more important, because they'll be on display for others to see as they size up your responsibilities and ability to repay your debt.

There are many small business finance loans available through the SBA and other organizations, but it's important that you use the tools larger businesses use to keep their finances intact and organized for thorough accounting purposes.

From the very time you're seeking a small business finance loan to launch your idea into fruition to the day you're considering an expansion because your small business is thriving from the initial investment, these tools will help you present a streamlined accounting of your fiscal authority.

What's Your Favorite Small Business Finance Tool? 

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Small Business Finance Tools: Quicken Versus QuickBooks 


When you're a small business finance department (or person) you may be looking at tools to help you do your job faster - or better! QuickBooks and Quicken are two solutions that are routinely used to keep accounting measures in order.

So which one should you choose?

Quicken is a less formal tool than its counterpart, QuickBooks. QuickBooks is for small business finance departments that need more bells and whistles with their accounting software.

Most small business owners have found that as the years pass and both versions are updated, they're becoming more alike and easier for the end user to figure out. If you're running a small entrepreneurial effort, then Quicken might be all you need for your small business finance tracking.

If you're growing your small business into something more than a solo operation, then QuickBooks will provide you with the business tax and accounting solutions that you need to succeed.

There are certain things one solution will do that the other one won't, so you have to size up your own small business finances and see what you personally need it to do. For example, Quicken lets you set up a loan that automatically calculates your interest and principle, while QuickBooks makes you manually enter the information.

Compare both products and see which one is a good trade-off for your small financial investment of a tool that will make things much easier to manage over time.

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Checks and Tax Forms for Your Small Business Finance Needs 

When you're operating a small business and seeking a loan for expansion or start-up funding, it's imperative that you have all of the right papers at the tip of your fingers. This includes small business checks for easily paying vendors and labor as well as tax forms you can prepare in a flash.

You don't want to have to find a checkbook or sort through hefty files to find the right tax forms when you need them - you want to be able to turn on your computer, launch a software program, and have it print out exactly what you need when you need it.

Quicken and QuickBooks are two tools that do exactly that. You get to handle your online banking through the two programs, making small business finance issues a cinch.

All of this data - the checks you write, the taxes you file ever year, can all be stored and backed up in the QuickBooks and Quicken tools. And even if you still have an official accountant handling your small business finance issues, the tools help you print and mail a nicely-prepared document that your accountant can work from.

With every check you write, you have to balance your books. The accounting software tracks this spending for you, alleviating much of the stress associated with running your own business.


What Are Your Pressing Small Business Finance Needs? 





sxyshandy wrote...

Great resource! Quicken certainly mixes up personal and business money, which is hardly sound business practice and isn't quite right with the accounting entity concept. I'm taking a closer look at small business payroll software myself for fellow small business owners.

ReplyPosted August 18, 2008

Lensmaster

Lecky wrote

Thanks for the informative lens. I have worked quite a bit with a number of small business financial software and honestly, I don't know if I would ever use quicken for business (unless it is a VERY SMALL endeavor). I believe Quicken is more for personal finances and QuickBooks for business finances.

Reply Posted August 11, 2008

Lensmaster

wendy34 wrote

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Reply Posted May 15, 2008

jilldavis wrote...

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ReplyPosted April 21, 2008

alila12 wrote...

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ReplyPosted April 21, 2008

dianacampbell wrote...

Very great lens on small business finance ideas! Five stars to you for a job well done. Thank you for sharing your knowledge on this topic. Such a big help to my newly started small business. I am glad that I have also came across this lens cisco phone system which gave me great help on finding the best phone system for my business. You can check it out.

ReplyPosted April 20, 2008

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ReplyPosted April 19, 2008

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ReplyPosted April 18, 2008

LillianSmith25 wrote...

Financing a small business is quite complicated. Thanks for shedding some light on this matter! Aside from financial planning software, sales software can also contribute to the success of business. They keep businesses organized by tracking and monitoring sale transactions. Learn more about sales software here. Thanks!

ReplyPosted April 13, 2008

Lensmaster

nacylysol

thanks for the great lens i can use it! i hard to talk to financial consultants so i go to
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ReplyPosted April 09, 2008

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ReplyPosted April 03, 2008

jennifersmith76 wrote...

Great lens! You have a lot of useful information here. I like your Quicken vs. Quickbooks which helps us small business owners make the right decision. I have an informative article on Software Sales. It's about software sales, how to track and manage sales leads. Please visit soon.

ReplyPosted April 01, 2008

gone-fishing wrote...

Good job, very nice lens with great content. I've also posted some financial planning articles here.

ReplyPosted March 27, 2008

Lensmaster

IBuces wrote

As a business loan consultant, I have found that it's fundamental for businesses to keep good records of their finances from the very first day. In many instances, we have a hard time find financing to companies that I know are good shape just because of lack of good record keeping. Besides, having proof of everything can give you a lower rate next time you have to apply for a business or commercial loan.
Business Loan

Reply Posted March 05, 2008

Intuit - The Software Giant Behind Quicken and QuickBooks 

Quicken is a personal finance management tool developed by Intuit, Inc. Quicken runs on Windows and Macintosh systems. An online version is also available. There are several versions of Quicken including, but not limited to: Quicken New User, Quicken Basic, Quicken Deluxe, Quicken Premier and Quicken Home & Business. Each version of Quicken also tends to have the release year in the product name, (eg. Quicken Basic 2008).

Development of the UK version of Quicken was discontinued in January 2005.

The last version of Quicken for Macintosh computers was Quicken 2007, which is still sold on the Quicken web site. It will be replaced by Quicken Financial Life for Mac in the summer of 2009.

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