Streamline Your Business With QuickBooks Add-Ons

Add-ons in QuickBooks are additional applications or services that can be integrated with QuickBooks Online to extend its functionality and provide specialized features not available in the core software. These add-ons are designed to enhance user experience, automate processes and cater to unique business needs across industries.

As a small or medium sized business, you may be using multiple platforms to run your business processes. One major problem with this is that your business data can’t be integrated to form one cohesive picture, unless someone physically pulls all the pieces together, and generates spreadsheets and reports to show you how one process is affecting another.

Put another way: It is wasting your time, money and resources.

However, with QuickBooks software, you can streamline your financial data in one place. Now you can see how your customer relationship management process affects your finances, and the same is true for inventory management, expense management, project management, time-tracking, invoice management, and payroll management, to name a few.

There is even an add-on for automating manual data entry which we will discuss shortly, and with Quickbooks mobile app, you can have all the information at your fingertips 24/7.

In this article, we explore popular QuickBooks apps and how they can streamline your business processes, give you more control over business decisions, and save you time and money.

Envoice

The Envoice QuickBooks Online integration will streamline manual data entry through automation, categorization and recording of bills and expenses. Powerful AI and machine learning features promise 99.9% data accuracy.

Pricing

Get the Envoice add-on for $7 a month if you want to automate bookkeeping and $14 per company per month if you want to make use of all the features. They offer a 14 day free trial, and you can sign up for the trial without a credit card.

Automated data entry

No matter how powerful the inner workings of your accounting software are, loading information into the software manually leaves room for error. It wastes a great deal of time, and you cannot afford either one.

SmartExtract – Applying machine learning technology, SmartExtract learns how to recognize and capture relevant data in various document layouts. It takes between a few seconds to minutes to capture data, depending on the document. For example, a bookkeeper may take 5-15 minutes to capture an invoice. According to a report, the State of e-payables 2022, the cost of one invoice is $13.11.

This cost rises for small-medium businesses, with estimates of up to $40 per hour.[1] In the long run, this is not sustainable, but with Envoice’s technology you can reduce this cost by 80% or more. [2] SmartExtract is a default feature on any Envoice subscription plan.

ExactExtract – This is Envoice’s paid verification feature ($0.20 per document). Data extraction operators will review, correct and confirm the data accuracy before it is sent to you. Processing of invoices with verified data can be fully automated. E.g., automated coding/recording, business controls and approval workflow can run immediately after the invoice is verified. This feature promises 99.9% accuracy.

Together SmartExtract and Exact Extract eliminate human errors, providing you with peace of mind that your financial information is highly accurate. They save up to 8 hours a week in processing and hundreds of dollars a month (depending on the number of invoices you process).

Expense management

Envoice expense management helps save time by eliminating the need for employees to manually enter data, making your expense management paperless, and helping you keep track of all receipts.

• Automated or human-verified data extraction for all types of receipts.
• Smart rules for automated cost allocation and categorization.
• Approval workflows to automate expense approvals.
• Mileage reimbursement with custom mileage rates.
• Multi-currency reporting with automatic currency conversion.
• Partial reimbursement if receipts contain employee’s personal spending.Ability to create full expense reports

One notable bonus of the expense management feature is the ability for employees to capture, categorize, and submit expenses on the go with Envoice’s mobile app.

Other features

AI and machine learning features are only one part of this powerful software. Envoice has other outstanding features that work together to ensure a smooth flow of information as a QuickBooks integration.

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• Create invoices and receive payments. With support for all major currencies, including Bitcoin, you can easily manage your finances regardless of location or currency.
• Receive documentation in one inbox and collaborate with other team members.
• Cloud storage for your important documents – get rid of paper documents for good.Automated workflow approvals.
• Correct categorization of financial data according to the rules you set up.
• Integrate with QuickBooks Online, file management apps (Dropbox, OneDrive), and payment apps (Wise).

Integration with QuickBooks Online is easy. You can do this via the QuickBooks Online Apps Store or directly through the Envoice platform. Within a few minutes, you can have a powerful pre-accounting and expense management feature integrated and syncing with QuickBooks data.

GET THE ENVOICE ADD-ON NOW

Salesforce

Salesforce serves as a comprehensive customer relationship management (CRM) platform, allowing businesses to manage all their customer records in one place. It’s instrumental in tracking custom data, sales leads, marketing efforts, and more, offering a holistic view of customer activities. The Salesforce integration with QuickBooks allows you to feed customer information directly into QuickBooks, removing the need for manual data entry between the two platforms.

Pricing

Get a basic plan for $25 a month which allows you to manage a basic sales cycle. More advanced features include forecasting management, customizable reports and quoting for $80 a month.

Real-time data synchronization

Combining your accounting and sales software gives you a 360 degree view of your most important business processes – sales and finance. Without the need for manual data entry between the two systems, the alignment of sales and accounting information will be more accurate.

Sales teams have real-time access to financial data within Salesforce. This enables them to understand the current financial health of the customer or project without switching systems. They can also see which invoices are outstanding and payments that have been processed enabling them to conclude open deals. This leads to better decision making and customer service.

Create invoices

Invoices can be created in QuickBooks directly from Salesforce opportunities, streamlining the billing process. This ensures that invoices are sent as soon as possible and payment received which is important for the management of cash flow.

Payment of invoices will no longer be delayed due to errors. Why? Customer data is synchronized between the two systems ensuring a high degree of accuracy, eliminating incorrect invoices being sent to customers. Sales tax is automatically calculated according to the state in which the transaction has taken place.

Relevant reports

With financial data from QuickBooks accessible within Salesforce, you can generate comprehensive reports that combine sales and financial metrics.

QuickBooks Payroll

With QuickBooks Payroll, you can synchronize payroll information with your accounting and sales data. Pay your employees faster with same-day direct deposit and you’ll be covered at tax time because QB Payroll automatically calculates tax withholding. Tax Penalty Protection from QB pays you $25,000 if you should get a penalty due to a tax error. They will also deal with the IRS for you if this happens.

Pricing

Starting at $37.50 a month +$6 per employee/month for Payroll Core and going up to Payroll Premium for $85 +$8 per employee/month (this plan includes QuickBooks Time Tracking, allowing you to track and approve timesheets and project costs anywhere, anytime).

Seamlessly integrated payroll

QB Payroll has many outstanding features that will help you manage all your payroll tasks. Your employee can directly view their payroll information via the QuickBooks app, allowing faster resolution of employee salary and tax queries.

Let’s look at some of the features.

• Set up payroll to run on its own with automatic payroll
• Calculate, file and pay taxation automatically without errors
• Hold on to cash longer and pay your team on your schedule with same-day deposit
• Improve time tracking accuracy, and approve timesheets and save 2 hours every time you run payroll
• Accounting, payroll, and time tracking data connect, saving you approximately 4 hours a week
• Your team can view pay info and W-2s, plus track hours with the QuickBooks Workforce app
• Make simple, fast and secure contractor payments
• Set up 401(k) plans within 20 minutes that seamlessly connect with payroll
• Find affordable and flexible healthcare plans straight from your QuickBooks account

Fishbowl Inventory

This popular add-on is the #1 choice of QuickBooks users for inventory management. You can track inventory, manage multiple locations, and master complex manufacturing processes with this app.

As inventory moves in and out of your operational workflows QuickBooks is automatically updated, giving you powerful inventory info such as true landed cost, cost of goods sold, and cash flow impacts. No manual data entry required.

Pricing

Fishbowl offers affordable solutions that create connectivity throughout your operations. Starting at $329 monthly their cloud-based, inventory and warehouse management capabilities are accessible online 24/7, 365.

Inventory tracking

The easy to use platform allows you to track inventory in the warehouse or out in the field. Whether you have one single location or multiple locations, Fishbowl gives you visibility over all your inventory at any time.

Built-in track and trace capabilities allow you to track the smallest details from the most to least important components. Incorporate batch numbers and expiration dates for compliance reasons without any problems.

Whether you use average, FIFO, or LIFO costing, Fishbowl matches your inventory activity to your methodology and then gives you actionable data through detailed reporting.

Warehouse management

Utilize robust order fulfillment for your physical warehouses, on-the-go inventory, 3PL, or drop shipping.

Picking

You can save time and money with accurate barcode scanning, plain text scanning or recording serial numbers. Whatever method you want to use, Fishbowl can accommodate your needs.

Packing

You can scan, organize and record carton configurations easily for shipping. With data automation you can generate packing slips, bills of lading, and commercial invoices.

Shipping

Connect directly to a well-known courier company and eliminate duplication. You can print shipping labels directly from the system, saving you hours of manual work.

Your warehousing activities have a direct impact on your cash flow. Cross platform connection to QuickBooks completely eliminates the need for manual data entry and the possibility of human error. For a process that requires such a high degree of accuracy, you will welcome Fishbowl’s innovative and easy to use technology.

You run your business while Fishbowl automates the details.

Shopify

This one is for e-commerce business owners. QuickBooks automatically brings in your orders and payouts from your Shopify store to give you a better view of your income and expenses in one place.

Pricing

Shopify sellers qualify for a special QuickBooks price. Starting at $21 a month, QuickBooks Simple Start provides you with all the basic accounting functionality while QuickBooks Plus at $63 a month will also give you the ability to connect to multiple sales channels.

Global Marketplace

Shopify is the world’s #1 e-commerce platform which means it would be almost impossible for it not to integrate with QuickBooks – which is the #1 accounting software in the world. It’s the match everyone in e-commerce needs.

Use Shopify to start, build, and manage your online store. You can manage sales, market to customers and accept payments on the platform. Shopify has a range of plans that accommodate the smallest to largest ecommerce stores around the world.

With the QuickBooks integration you can do the following:

• See your profit at a glance – you will get an up-to-date view of what you make and spend over time
• Make use of all available tax deductions as guided by QuickBooks
• Organize bills in one place, plus schedule and make payments online right in QuickBooks.
• Create and send professional invoices with smart invoicing software
• Easily track and fulfill orders from all of your online sales channels in one place so that nothing falls through the cracks.
• QuickBooks will keep track of thousands of tax laws so that you don’t have to

It only takes three easy steps to integrate Shopify with QuickBooks. You can automatically bring in your payouts, and organize them into categories, shipping discounts and fees. You will also stay on top of your cash flow by understanding how profitable each channel is and where you are leaking money.

The best of both worlds come together.

A powerful way to streamline your business processes

At the beginning of this article, we set out to show you how a few powerful QuickBooks integrations can streamline your business processes.

We’ve covered the best in class add-ons that are powerful in their own right, but when they are combined with QuickBooks they provide unparalleled advantages for managing every aspect of your business in one platform.

Let’s recap our choices. As you consider these options, ask yourself: “What would the value of having all this information in one place be for my business?”

• Pre-accounting software (Envoice)
• Sales and customer relationship management software (Salesforce)
• Payroll and taxation management software (QuickBooks Payroll)
• Inventory management software (Fishbowl Inventory)E-commerce software (Shopify)

All of these choices are online, cloud-based platforms which means you no longer have to purchase licences for desktop software that become outdated after a short time. You benefit immediately from important updates to this technology. Not only that, but the information is available on multiple devices, and all of these apps provide a mobile version that integrates seamlessly with online information. Your employees can also be empowered with important information when they need it most.

We think you could say this kind of information is priceless. Run your business better, faster and more profitably with our five best in class QuickBooks add-ons.

References:
1. https://www.medius.com
2. https://envoice.eu/en/blog/ap-automation-cost-is-it-worth-the-investment/