As a businessman, managing accounting or needing to invest to grow your business freely. But a normal account provides some limit on transactions. Because they are staying in a normal finance protocol. Therefore, you need a cash account where you can make transactions as needed. Intuit QuickBooks Online provides a secure Cash Account, which is a smart banking solution for your business with a simple and user-friendly interface. So, in this blog, we are discussing the QuickBooks Cash Account with its features, benefits and setup in detail.
What is QuickBooks Cash Account?
QuickBooks Cash Account is an FDIC-insured checking account that is designed by Intuit. There, you can manage your business finances or money and transactions without any restrictions. It provides free-fall transactions, fast payments, custom forecasts and high-yield savings, delivering trust to manage your business finances and accounting seamlessly. Its user-friendly interface makes it easy to save money in the cash account.
Features of QuickBooks Cash Account
In QB Cash, there are many features available.
- It is a real-time payments access that makes it unique from other cash accounts. When you receive payment from your client.
- The transferred money was instantly reflected in your account.
- It also provides a high-interest rate and keeps your money safe.
- It automatically categorizes all your transactions to make the bookkeeping and tax preparation easy.
- It’s all in one nature, doing all the bill payments on one platform. Also, it does not charge any monthly maintenance fees.
How to Set Up QB Cash?
To set up the QuickBooks Cash Account, Here is the step-by-step guidance.
- Sign up in QuickBooks Online and go to Banking or cash flow in the left menu.
- Click on QuickBooks Cash to set up QuickBooks Checking.
- Provide all business or professional details and submit verification then wait for approval.
- After Approval QuickBooks Cash Account appears under Banking > Banking account.
- Now you can use it like a checking account.
Why Use of QB Cash Account?
QuickBooks Cash Account is a native business checking account that allows you to handle your money right within QuickBooks Online. You can accept customer payments, pay bills and carry out day-to-day banking activities without having to juggle between tools. You can also monitor your cash flow forecast in real time, which assists in making better business financial decisions.
With this account, you don’t have to log and import transactions manually — everything updates automatically. You also receive a business debit card to make purchases and you’re able to put money aside for taxes or future bills using digital envelopes. Transfers between accounts are easy and quick, so your money is always available when you need it.
The account integrates easily with your QuickBooks software, providing you with a clear picture of how much money you have coming in and going out. It’s particularly ideal for small business owners who desire one place to keep track of both banking and bookkeeping.
Pros and Cons in QuickBooks Cash Account
Pros
- No Monthly fees.
- Fast Access to Payment.
- Real Time Tracking.
- Business Debit Card.
- Built-in Budgeting Tool.
Cons
- Limited Customer Support.
- No Physical Branches.
- Only Available in the U.S.
- You must use QuickBooks Online.
How QuickBooks Cash Account Work?
When you activate your QuickBooks Cash Account, you get a debit card for online and offline transactions. Except that you can get ACH( Automatic Clearing House) transfer facilities, mobile check deposit and also get instant transfer options. By this cash account, you can receive payment instantly from the client, also it permits you to transfer funds to any external bank account and you can pay bills or employee salaries directly from the QB Cash Account.
FAQs
Is QuickBooks Cash Account free?
Yes, QuickBooks Cash Account has no monthly fees and no minimum balance requirements. But if you need to make instant transfers or withdraw money from other third-party ATM, then it may take a small charge.
Can I pay bills using QuickBooks Cash Account?
Yes, you can pay bills using QuickBooks Cash Account by using the Bill Pay option.
Who should use a QuickBooks Cash Account?
QuickBooks Cash Account is useful for freelancers, small businesses, and entrepreneurs who want to manage income, expenses, bill payments, and cash flow with the security of FDIC insurance in a single platform.
Conclusion
QuickBooks Cash Account is a Solution for modern businesses designed by intuit that gives a perfect combination of speed, transparency, and convenience. It makes your business accounting easy and gives full control of your money without any limits. If you have any problem with the Cash Account, then contact QuickBooks Experts for an instant solution.
