Are you curious about learning QuickBooks but worried that it might be too hard? Of course, the difficulty that comes with learning a new skill is somewhat subjective. The challenges of learning QuickBooks depend on factors like whether someone has a knowledge of accounting or bookkeeping, how quickly someone learns new skills, and how much time and effort someone has to devote to learning QuickBooks.
No matter your current schedule or comfort level with QuickBooks, there are plenty of tools available to help make learning easier than you might think.
What is QuickBooks?
QuickBooks is a widely used accounting and bookkeeping software package from Intuit. Primarily used by small and medium businesses, QuickBooks helps businesses to track and manage everything to do with their finances. Using QuickBooks, businesses can monitor their cash flow and profits and losses by tracking sales, expenses, customers, and payments. QuickBooks is also often used to create and send invoices, manage the business’s inventory, and manage employee payroll. It also has budgeting, time tracking, and daily task features to keep businesses running efficiently.
QuickBooks helps businesses ensure the accuracy of their records by directly connecting sales channels to QuickBooks and reconciling bank transactions with the information one inputs. The software also has features to help with tax preparation and can be used as a way to collaborate and share documents with an accountant. QuickBooks is a subscription-based service with varied payment tiers that provide access to different features. The different versions of QuickBooks cater to different storage and employment needs as Intuit offers basic to premium plans of its cloud-based QuickBooks Online, a computer-installed QuickBooks Desktop Enterprise version for larger companies, and a version for freelancers and independent contractors called QuickBooks Solopreneur.
Read more about what QuickBooks is and why you should learn it.
What Can You Do with QuickBooks?
QuickBooks software has many different applications and uses across a wide variety of industries. Many small and medium-sized businesses use QuickBooks for its record-keeping features as it was originally designed for businesses without a dedicated accounting department. QuickBooks allows someone to track and categorize many things such as expenses, sales, transactions, and customer, vendor, and inventory lists. This makes QuickBooks a great option for those needing to keep all of their business records in one place.
Additionally, many people use QuickBooks to create and send invoices, manage employee payroll, help prepare their taxes, maintain a budget, and automate tasks. QuickBooks includes features to automate accounts payable and receivable. Many use QuickBooks to automate sending customer invoices or payment reminders or even keeping employees updated on crucial tasks and sending deadline reminders. These features of QuickBooks allow you to increase productivity and maintain efficient workflows so that you do not constantly need to task employees with work that can be done by the QuickBooks software itself.
Not only do businesses use QuickBooks, but QuickBooks is often used by self-employed people like freelancers and independent contractors. QuickBooks offers a specific version of the software called QuickBooks Solopreneur (formerly QuickBooks Self-Employed or SE). Many people find that once they link their accounts, it is easy to import their transactions and the QuickBooks software will automatically work to tag one’s income. Self-employed users will likely need to do a bit of extra work to categorize their transactions more effectively for their own needs, but QuickBooks can do much of the bookkeeping work automatically and make tracking finances easier for individuals.
What Are the Most Challenging Parts of Learning QuickBooks?
While some find working with QuickBooks to be easy, others suggest there can be a steep learning curve for beginners and those with no knowledge of accounting. Beginning QuickBooks learners find that they need to know some accounting terms and principles to understand the QuickBooks software and the various features that it provides. Those with no knowledge of important terms such as accounts payable, accounts receivable, accrual and cash accounting, liability, cash flow, and assets will struggle to work with QuickBooks software, initially. These terms and the principles behind them can be learned (and QuickBooks even offers a glossary of important terms) but it will slow down one’s use of QuickBooks to learn them after starting to use this accounting software.
A related challenge that many beginning QuickBooks users face is figuring out how to use the variety of features that the software provides. QuickBooks, in particular, is known for being a comprehensive software with features for record-keeping, tax preparation, and financial management. Features can also be industry-specific and customized to one’s needs. Additionally, QuickBooks allows for the integration of third-party applications that can extend and complement many of the regular features. Especially for those getting started with QuickBooks, it can be difficult to figure out which features to use for their own business and it will take time to learn how to use all the features one determines are necessary.
Both of these challenges can be overcome. Those with little accounting knowledge can find resources online to explain common terms and principles or even take an introductory accounting or bookkeeping class. It will also help beginners to take a QuickBooks class, either in person, live online, or on demand, to learn the fundamentals of working with this software. Some basic overviews or tutorials are available for free online and other more detailed instructor-led classes will cost money. Some people also find that they just learn on their own through continued use of the software as it should become easier to use the more one becomes familiar with what QuickBooks can do and how.
How Does Learning QuickBooks Compare to Excel & Other Accounting Software?
One alternative to using QuickBooks software is to use Excel for bookkeeping and basic accounting. Excel could be a good choice for small businesses or individuals who only need to do single-entry bookkeeping and who work primarily with cash. With Excel, all transaction data will need to be entered manually as there are no built-in forms or templates specifically for accounting. One can, however, download free accounting templates for Excel so that users do not need to develop their own from scratch. While Excel is seen as an easy-to-use program, to use Excel for accounting purposes one might need to have some prior familiarity with the uses and functions of spreadsheets (especially creating formulas) and entering data.
Excel has limited features in comparison to QuickBooks though it can be a cost-effective option, especially if one’s business already uses Microsoft 365. Excel is part of this large software suite from Microsoft, which can be purchased through a monthly or yearly subscription. For those interested in learning more about Excel, Noble Desktop has a free comprehensive guide to Excel that is useful for Excel beginners and those who want to use Excel professionally. In addition to Excel, there are free spreadsheet programs like Google Sheets, which also has compatible accounting templates, OpenOffice, or Zoho Sheets.
QuickBooks can also be compared to other double-entry accounting software programs with a variety of features to help users manage their finances. Zoho Books, for instance, has a robust free plan with features like invoice creation, automatic payment reminders, and a customer portal, though for other features users will have to sign up for pricier monthly subscription plans. Some people might prefer other programs like Wave or Xero for ease of use or affordability, though not every program will allow all users to integrate all of the services they need for their business. Overall, while there are cheaper options and even options that some find easy to use, most people still consider QuickBooks to be the best comprehensive accounting software.
How to Make Learning QuickBooks Easier
For those learning QuickBooks, there are strategies to make learning this software easier. Some strategies will help you to prepare to use QuickBooks, while others are useful to consider while using this software.
Dedicate Time & Effort to Using QuickBooks
As with learning any new skill, QuickBooks beginners should expect that it might initially take some extra time and effort to learn QuickBooks. The software should become easier to use over time and it can take two to four weeks to become proficient in using QuickBooks. Because of this, it can be useful to set aside time to learn how to use QuickBooks and put your new knowledge into practice. Dedicating effort to learning QuickBooks should pay off and within a few weeks it should allow users to track and manage their finances easier and more efficiently.
Take a Bookkeeping or Accounting Class
Consider taking an introductory bookkeeping or accounting class before using QuickBooks. While there are no formal prerequisites to learning QuickBooks, it is often assumed that QuickBooks users will have some knowledge of common accounting principles and terms. The QuickBooks software makes it easier to keep records and manage one’s finances without a full accounting department or hiring an individual Accountant but it will still be easier to use for those who know something about accounting practices. Taking a short class to gain this familiarity will be useful for those who lack accounting knowledge.
To locate free in-person classes, consider looking into whether your local library or community center offers bookkeeping classes. If this is not an option, many public libraries will offer access to online classes through LinkedIn Learning by Lynda.com for free with a library card. Community colleges or continuing education programs might have low-cost bookkeeping or accounting classes. You can also find free or low-cost on-demand classes online which allow you to move through the course material at your own pace.
Enroll in a QuickBooks Class or Bootcamp
Often, it is easier to learn QuickBooks from a class than on your own. QuickBooks classes are designed to teach the most important or commonly used features of the software, like sending invoices, processing payments, or handling inventory management. Live and in-person classes will also offer guided instruction so that learners do not need to teach themselves how to use this complex software. Learning from an expert instructor will make it easier to learn the software’s complex array of features.
A QuickBooks bootcamp will be the fastest way to learn QuickBooks. Bootcamps are accelerated classes designed to teach students everything they need to know about a specific skill or tool. A QuickBooks bootcamp will often take place over only a few days and provide students with a comprehensive understanding of how to navigate the software and use it to manage their finances. As long as someone has a couple of days to dedicate to learning QuickBooks, a bootcamp is a great way to make it easier for QuickBooks novices to learn.
Use Online Resources
Online resources, both free and paid, can make it easier to learn QuickBooks. Many people turn to YouTube tutorials to learn QuickBooks basics and one can find these tutorials for both beginners and those who need help with a specific feature, like customizing invoices or setting up automatic payments. Not only are free video tutorials useful, but there are also websites, blogs, eBooks, guides, and step-by-step instructions that learners can seek out to make understanding QuickBooks easier.
Another popular option to make learning QuickBooks easier is taking an on-demand class. These are self-paced classes where the student is given access to the course material, often video tutorials, practices, and skills quizzes, and can work through it at their own speed. On-demand classes will provide learners with some structure to aid their learning of QuickBooks, though some students can find the limitations of these classes frustrating. In particular, there is often no one to turn to if issues or questions arise and some of the course material can be outdated or not as useful for the needs of one’s business.
Ask for Help
If any part of learning QuickBooks becomes too difficult, consider asking for help. For those taking an in-person or live online class, it should be easy to contact the instructor or even ask for clarification or further examples during a class session. Otherwise, consider asking a question within an online group or forum. Intuit also offers support services for QuickBooks and you can contact someone to chat online or over the phone or even discuss a topic using their community forum feature.
Learn QuickBooks with Hands-on Training at Noble Desktop
Noble Desktop offers expert in-person and live online training for those interested in learning QuickBooks. Noble Desktop’s classes all include expert, hands-on guidance, small class sizes, and free retake options and many classes offer both part-time and full-time options so that one can find the QuickBooks or finance class that works best for their schedule. For fast and comprehensive training in QuickBooks, consider enrolling in Noble Deskop’s QuickBooks Bootcamp which teaches students everything they need to know about how to use QuickBooks to track and manage a business’s finances. This bootcamp uses hands-on training to teach students the basics of QuickBooks like configuring a company profile, working with customer, vendor, and inventory lists, and invoicing and processing payments as well as the more advanced management and customization features. Noble Desktop offers this bootcamp live online from any location and it can be taken in person at Noble Desktop’s training facility in New York City.
Noble Desktop also has accounting classes and bootcamps which are a great option for anyone interested in developing their skills or learning more about finance and accounting. The Intro to Financial Accounting & Financial Statements class uses hands-on exercises to teach students the fundamentals of analyzing financial statements and reports. After completing this introductory class, students can progress to the Intermediate Financial Accounting class which teaches more complex topics like earnings per share and deferred taxes. For those who want a comprehensive, accelerated class that tackles both beginner and intermediate topics of accounting, consider the Financial Accounting Bootcamp which teaches everything students need to know in two class sessions.
Noble’s finance and accounting classes are great for those who want to grow their financial literacy beyond learning about QuickBooks. These classes are also useful for those interested in turning their knowledge of QuickBooks into the first step to becoming a Bookkeeper or Accountant. If this is something that interests you, you can learn more about the career path of an Accountant by reading Noble Desktop’s comprehensive guide to accounting, a free resource that covers essential information about accounting and how to learn the skills necessary to make this one’s career. For those who want to work in finance in some capacity but are not entirely sure which direction they want to go in yet, Noble Desktop’s guide to finance is a useful way to read about different career options.