A QuickBooks ProAdvisor is a trained, experienced accountant or bookkeeper who can set up and manage your QuickBooks file. The program is easy to use out-of-the-box, but it has many features that are too complicated for the average user. A QuickBooks ProAdvisor can help you get the most out of your software by customizing forms, reports, and transactions specific to your business needs. They also offer assistance with accounting issues like tax preparation and financial planning. If you would prefer not to hire an outside firm, consider becoming a freelance ProAdvisor. This will allow you to earn profit by charging hourly rates for providing advice on how best to use QuickBooks.
To become a ProAdvisor, you need to go through an authorized training course before you can call yourself a ProAdvisor. The course will cover the different types of organizations you can work with and tailor QuickBooks for these different business types, be it SaaS, brick & mortar, restaurant industry, B2B, etc. etc. It is also essential for the ProAdvisor’s to understand their client’s industry. They should have an in-depth understanding of the different industries to know which reports are helpful, which forms accurately represent the data being collected, and how financial transactions should be categorized, coded, and posted.
A QuickBooks ProAdvisor must also be prepared to manage day-to-day bookkeeping activities on behalf of their clients. This includes creating journal entries, balancing accounts, entering new customers into the database, and setting up vendors and employees. They may also need to regularly schedule bank reconciliations if the business does not use online bill pay.
While QuickBooks ProAdvisors are not full accountants or bookkeepers, they must be familiar with GAAP. They should also know how to read financial statements and perform basic calculations like net present value and internal rate of return. The program also allows you to set up budgets that can affect cash flow. Knowing how this works is an essential skill for a ProAdvisor.
A good QuickBooks ProAdvisor can save time and money by recommending efficient and effective strategies for using the software. The QuickBooks ProAdvisor credential is quite valuable in accounting and bookkeeping because it indicates to clients that their advisor has a significant amount of training and experience with the program. Having this certification typically bodes well for clients especially if their business is highly specialized or in a niche industry. It also helps boost the firm beyond taxes and into the world of financial planning, projections and bookkeeping. It’s a distinction that can help both parties.
Becoming a QuickBooks ProAdvisor ensures opportunities to share best practices, prioritize business processes and tailor a specific to your clients’ needs, and design unique reports that provide relevant information for critical business decisions.
In conclusion, a QuickBooks ProAdvisor is someone who has been extensively trained and experienced in using this accounting program for small businesses. They can set up the software to best suit your business’s needs and offer valuable advice on making the most out of it.