Jüulio™ offers a comprehensive suite of accounting functionalities designed to streamline financial operations for businesses of all types, from auto body shops to construction companies. This overview details the existing accounting features and introduces upcoming functionalities within the platform.
Current Accounting Features in Jüulio™
- Estimates:
- Creation and Sending: Businesses can create and send estimates to customers. This is particularly useful for service-based industries where job estimates are a preliminary step in the customer engagement process.
- Estimates Received:
- Management of External Estimates: Users can manage estimates they receive from contractors, suppliers, or vendors, facilitating easy integration into their financial workflows.
- Invoices:
- Invoice Generation and Distribution: Invoices can be created for goods or services sold to customers, helping businesses manage receivables efficiently.
- Invoices Received:
- Tracking Payables: This feature allows businesses to manage invoices they receive, ensuring that payables are tracked and processed on time.
- Income:
- Income Tracking: Income can be recorded manually, or automatically added when invoices are paid, providing a real-time view of the business’s financial health.
- Expenses:
- Expense Management: Expenses are automatically added when invoices are paid, and can also be entered manually, offering a comprehensive view of outgoing funds.
- Recurring Expenses:
- Regular Payments: This function is for fixed costs like rent or subscriptions, allowing businesses to automate and track regular payments without manual input each cycle.
- Payments:
- Outgoing Payments Record: Users can keep track of payments made to external parties, streamlining the management of business disbursements.
Upcoming Features in Jüulio™
- Payroll Function:
- Comprehensive Payroll Management: The forthcoming payroll function will facilitate automated payroll processing for both 1099 contractors and W-2 employees based on hours worked and tasks completed.
- Tax Handling: This function will also automate the preparation and submission of tax forms, and handle tax deductions, sending them directly to the relevant tax authorities. This feature aims to simplify the complexities of payroll and tax compliance for businesses.
Conclusion
The accounting features in Jüulio™ are designed to help businesses efficiently manage their financial operations, from income and expenses to handling complex payroll requirements. With its integrated approach, Jüulio™ not only simplifies accounting tasks but also ensures accuracy and compliance, providing businesses with the tools they need to manage their finances effectively in one platform. As Jüulio™ continues to evolve, additional functionalities like the advanced payroll system will further enhance the platform’s utility, making it an indispensable tool for modern businesses.