How Path by Simplex Financials Enhances QuickBooks Online

By: Jessica Rickard | January 25, 2021


QuickBooks Online 

QuickBooks is the number one accounting software in the United States – and for good reason. With features such as bill management, cash flow, inventory, project profitability, reports, and time tracking, there is almost nothing it can’t do. 

QuickBooks is the go-to software for managing your financial statements. But sometimes your unique business needs go beyond the current capabilities of QuickBooks. 

So, what do you do with that information once it is in QuickBooks? 


Path <Enter Stage Left> 

Path by Simplex is the first-ever social financial platform that enables small business managers to connect, collaborate, and grow through shared analysis of financial data. 

What does this mean for QuickBooks users? 

Path directly integrates with QuickBooks Online and functions like a social media platform. Users can make posts, create calculations, document critical events, and share insights based on business data for others in the organization to review, share, and comment on. This new way of looking at data – social financial – enables strategic, consensus-oriented decision making. 

Path is built from three core functions: Connect, Collaborate, and Grow. 

Path Logo


Connect
Being connected to your team is important but so is connecting your data to the person responsible. Path connects it all!
The Bridge feature in Path acts as your home screen and functions as your social media platform. From here you can share documents, calculations, or important events to your team.
You are probably wondering what this has to do with QuickBooks Online – well let me tell you.
QuickBooks Online is full of raw data. What do you do with that data? How can you connect it to the person responsible? You can with Path. By marking company Milestones, you can connect certain financial results to an event or person.
For example, QuickBooks shows that there is an increase in sales for the month of November. Path shows that during the month of November, your marketing team ran 3 different promos.
By my calculations, the marketing team is responsible for the increase in sales. Connect your marketing team to that financial result and give them kudos on the Bridge!

Collaborate
In Path, everything works together, just like your team should. Path is a tool that will tear down siloes to put everyone on the same page and achieve organizational goals as a unit.
Using features like Bookmarks, Data Mash, To-Do list, and Milestones allow users to control, organize and analyze data like never before.
Do you need help with a project? Post it on the Bridge and members of your team can add it to their To-Do list.
You can also control your business from anywhere – Path is built with the mobile user in mind. Quickly refer back to data whenever you need to. 

 
Grow
The Grow function in Path speaks to the guidance it provides when it comes to building your business. Path integrates with your financial data and performs analysis so it can alert you to red flags. Once those issues are identified, Path provides you with tips on how to fix them and maximize opportunities in your business. You can compare your financial data against industry standards to make sure your business is aligned with others in your industry. Path allows you to repeat successes and avoid past mistakes by documenting critical events in your business and the information surrounding those events. Finally, understand how all of these things come together to impact the value of your business.

What does this all mean?
QuickBooks is a great tool for managing financial data. But, in order to understand your data and get your entire team on the same page, you need Path. Path unites your entire team – and your accountant – so you can better understand your business and what is happening with your data. Tie all parts of your company’s data story together and get your entire team on the Path to success!
Try out Path for free for 7-days!  

Jessica Rickard

Jessica Rickard

Marketing Specialist


marketing@simplexfinancials.com