• 19 May 2024
Tutoring Companies: QuickBooks for a Quick Solution

Tutoring Companies: QuickBooks for a Quick Solution

May 10, 2018

Tutoring companies have more dynamic needs than individual tutors, especially when it comes to managing their finances. QuickBooks is an affordable and convenient tool to support your growing tutoring business and its bookkeeping needs.

With more client traffic than most independent tutors, tutoring companies need effective admin support when it comes to managing their finances.

Managing finances, of course, is no small task for small businesses – fortunately, there are plenty of software solutions to ease the administrative burden.

QuickBooks offers the bookkeeping essentials that small businesses like independently owned tutoring companies need at affordable prices. Plus, QuickBooks comes with a range of services and an easy-to-use interface and reporting system that give users enhanced versatility and usability.

Here’s a snapshot of how tutoring companies can benefit, too:

1. Affordability

Coming in at a fraction of the price of hiring an external accountant, QuickBooks provides you with a suite of bookkeeping services for under $100 per month (depending on the level of services you purchase). With one tool, you can track income and expenses, generate invoices and reports, and even run other important elements of your small business like payroll.

2. Manage your accounts

Users can quickly and conveniently enter data for new or existing students, associate tutors, admins, contractors, and other expenses in one tool. With QuickBooks, you have one stop for incoming bills and accounts payable.

3. Run invoices

What’s more, QuickBooks integrates with other major software, such as Microsoft Office, enabling you to create, edit, and send invoices electronically in a few, easy steps.

4. Generate reports

QuickBooks can also pull from existing data to produce snapshots of your business’s performance and outlook: know where your profits and losses stand, or track your monthly cash flow. Generate a report tailored to your needs.

5. Taxes Made Easy (OK, Easier…)

When Tax Day rolls around, QuickBooks furnishes users with all of the information that you or your tax consultant will need for filing. (And when it comes to taxes, check out our series on how tutors can file and maximize their tax returns.)

6. Integrate with other apps

QuickBooks is highly versatile and can communicate data with hundreds of other applications, from Excel to PayPal to all of your online banking needs. With QuickBooks Online Billing, you can be paid conveniently by credit card or electronic payment, wired straight to your bank account (and recorded in QuickBooks).

7. Customized to Your Needs

Whether just starting out or looking to expand your tutoring company, QuickBooks comes at different scales and costs to suit what your business needs at the time. Plus, you can change or cancel plans at any time, with no contract.

With the range of services and flexibility that QuickBooks offers, it’s no wonder why thousands of small businesses rely on the software. Tutoring companies should inquire about what QuickBooks and other accounting services can do to support your business as it scales up.

And that means more time for tutors to do what they do best: tutor, of course!

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