How to Customize QuickBooks for Frisco Businesses and Optimize Workflows

If you have a business in Frisco, TX, chances are you have heard how helpful QuickBooks can be when it comes to streamlining your accounting. But did you know that most businesses only use a fraction of QuickBooks‘ functionality? QuickBooks is great for bookkeeping, but when customized properly, it can become a powerful tool that increases efficiency, keeps you compliant, and helps you make smarter business decisions.

In this blog, we walk you through customizing QuickBooks to fit your business in Frisco. We will cover how to customize your Chart of Accounts, automate tasks, create Texas compliance reports, and more.

Why Customizing QuickBooks Matters

Most people who use QuickBooks only use it as a digital ledger. When you take the time to customize QuickBooks to your specific industry and locale, it can help you reduce the time spent on admin tasks, make Texas compliance easier, and improve efficiency. Here’s how:

Start with Your Chart of Accounts (COA)

Every QuickBooks company starts with a Chart of Accounts, and the standard COA that QuickBooks gives you is fine to use as a baseline. However, it’s been set up to be as generic as possible so that any business can use it. By customizing your COA to fit your business in Frisco, TX, and your industry, you can use QuickBooks to gain deeper insights into how your business is making money.

Make It Industry-Specific

Frisco is a unique city because it has such a diverse range of industries, such as tech services, real estate, and consulting. This is why having a COA with just “Sales” or “Service Revenue” isn’t going to cut it. Take the time to create sub-accounts that are relevant to the ways your business makes money. For example, if you provide tech services to clients, break up your income into “Managed IT Services,” “Consulting Projects,” and “Software Licensing.” Not only will this allow you to see which services generate the most revenue for your business, but it’ll come in handy when it’s tax time.

Track Local Expenses

Just as you want to track your income based on your specific business services, you should also tailor your expenses to how you spend money on a day-to-day business basis. As a business owner in Frisco, you likely spend money on things that are specific to operating in this city. For instance, you may spend money on “Chamber of Commerce Dues,” “DFW Networking Events,” or “Local Travel.” Create sub-categories for expenses like these instead of tracking them under broad categories like “Travel” or “Subscriptions.” This will allow you to budget for these expenses and measure the ROI of your local business activities.

Automate Your Workflows

Outsource what you can. QuickBooks includes tools that can automate tasks and processes such as transaction categorization and data entry. Take advantage of these features and save hours each month.

Use Bank Feeds and Rules

One feature we always recommend our clients take advantage of is QuickBooks’ Bank Feeds feature. By connecting your bank accounts and credit cards to QuickBooks, you can automatically import all of your transactions. You can even create “rules” to auto-categorize transactions. Say you pay CoServ for your business utilities monthly. You can create a rule that will automatically categorize that expense. Automating this task will cut down on your data entry time and help eliminate errors in your books.

Integrate Other Tools Into QuickBooks



Are you using other programs for your business? Is your point-of-sale (POS) system running on outdated software? Do you have a time tracker that your employees use? QuickBooks integrates with many tools, allowing you to streamline your business and save precious time. QuickBooks can connect to your POS system, so your sales data flows into QuickBooks automatically. QuickBooks also integrates with many time tracking applications. This allows you to capture time seamlessly for invoicing and payroll. Take time to look into what tools you can connect to QuickBooks.