Two newly released QuickBooks Blog posts are providing valuable resources to empower consumers, self-employed and small businesses to improve their financial lives.
The first post is titled, New tool helps you understand cash flow issues for your business is authored by the QuickBooks Online Team and is focused on taking a " a fresh look at cash flow, (and) releasing new information on how small businesses are feeling about their cash flow management skills." The blog is also central to providing information in concert with the recent release of Intuit's QuickBooks Cash Flow Planner that enable a small business to predict their cash flow up to 90 days out. It's designed to be used on a regular basis so the small business can predict their recurring expenses and income, while also giving them the opportunity to modify inputs based on what they specifically know that is unique about their business. The power of artificial intelligence is incorporated into the QuickBooks Cash Flow Planner with full transparency using data from Intuit's QuickBooks platform.
The second QuickBooks Blog post is another 'cash flow study' but this one specifically centered around payroll, it's called, Small business cash flow: The State of Payroll 2020 and is also authored by the QuickBooks Online Team. To quote both the blog post and the study, "Not surprisingly (the study)... found that payroll has a profound impact on small business cash flow. This is because payroll is often one of the largest expenses for small business. In fact, 39 percent of businesses globally say that at least 30 percent of their expenses goes toward covering payroll."1
Intuit is releasing these study results incorporated into the blog post in concert with announcement of an an expanded suite of QuickBooks Online Payroll offerings that enable small businesses to run payroll and file taxes automatically, all while receiving tax penalty protection and gaining access to essential services like on-demand HR, health benefits, and workers’ compensation. The new and expanded suite includes three options for small businesses, all of which allow small business owners to run payroll and file taxes automatically. These offerings help small businesses pay their employees in a short amount of time, allowing them to focus on more pressing business needs. In fact some of the new offerings even include TSheets powered time-tracking at no extra cost. You can get more information about these new QuickBooks Online Payroll options at Intuit's official website.
Footnotes:
1 - Research Methodology: The Intuit Cash Flow Survey was conducted by Wakefield Research among 3,500 small business owners at companies of 0-100 employees, including 1,000 in the U.S. and 500 in the U.K., Australia, Canada, India, and Brazil, between November 1 and November 18, 2019, using an email invitation and an online survey. When reporting tracking data, quotas were set to ensure samples could be compared to data collected in 2018 in the U.S., U.K., Australia, Canada, and India. (Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results.)