Video Tutorials

The best QuickBooks product depends on your needs and the size of your business. SMBs needing remote access to their account files should choose QuickBooks Online. If you want the speed and usability of desktop software, then QuickBooks Desktop is preferable.

1. You can directly record a manual transaction easily, whether in cash or check.
2. Like a cloud-based software suite, QuickBooks Online is available to a whole team of users and everyone can contribute simultaneously without causing any hiccups.
3. This module will teach you to download and track your credit card purchases in QuickBooks and reconcile them with your credit card statement to ensure that they match.
4. A Live Bookkeeper cannot begin cleaning up your past books until they receive the required supporting documentation, which your bookkeeper will request from you after your first meeting.
5. This is the first thing you’ll see when you log into your QuickBooks account online, and it’s from the dashboard that you can navigate to everything you’ll ever need as a QuickBooks user.

Note that the QuickBooks Online Desktop app is different from the QuickBooks Online mobile app. The desktop app runs on your desktop computer or laptop while the mobile app is accessible on mobile devices. For more information, read our article on what the QuickBooks Online desktop app is. When you enter employee time as discussed above, the hours not only flow to your invoices but also to the payroll module. This way, you can be confident that every hour you pay your employee is also considered for billing to a customer.

You will be able to manage all of your downloaded banking transactions by the end of this section. Finally, you can use the reconcile tool to ensure the transactions on your bank statement match what has been entered into QuickBooks, resulting in up-to-date financial statements. A new feature in QuickBooks Online Advanced, the fixed asset accounting tool allows you to add, manage, and track fixed assets, like buildings, vehicles, machinery, and equipment.

Manage taxes

QuickBooks can also remind you to order inventory automatically when quantities are low. It’ll make tax time easier if your Chart of Accounts includes all the line items required on your tax return. In addition to those line items, create enough detail in your Chart of Accounts to provide whatever information will help you better manage your business. Our tutorial on how to set up a COA in QuickBooks Online walks you through how to add, delete, and customize accounts. Currently, QuickBooks is offering two different specials; you can either try it free for 30 days or sign up and get a 50% discount on your first three months.

QuickBooks Online will save you time and effort – but it works best when you keep it up to date. You should reconcile your accounts regularly (QuickBooks recommends doing so every month) so that your accounts reflect what’s on your bank and credit card statements. As Float pulls through real-time information from QuickBooks Online, regular reconciliation also ensures that your cash flow forecast is always accurate.

Set up sales settings

If you operate in multiple international locations QuickBooks allows you to accept payment in local currencies. Of course, it is safer to first check if QuickBooks accepts payment in the currency you deal with. An Employer Identification Number (EIN) or Social Security Number is required. If you need help determining which of these you need for your business, reach out to your accountant or the IRS.

This is the first thing you’ll see when you log into your QuickBooks account online, and it’s from the dashboard that you can navigate to everything you’ll ever need as a QuickBooks user. Spend some time looking at the different menus in the dashboard, getting to understand where you can find everything. Your accountant can then navigate to the main “Reconcile” page and select the “History by account” button on the upper-right corner. This allows them to undo the previous transaction without needing to manually edit individual transactions from within the register. Yes, these training tutorials are updated regularly based on the latest feature updates or changes made by Intuit, the company behind QuickBooks. If you haven’t already, now’s a great time to make the switch and try QuickBooks Online.

Manage and Track Fixed Assets

Nothing matches the comprehensive opportunities available through QuickBooks Online. It can even help you with the organization and filling of your tax reports. Monitor income and profits, track expenses, and utilize automated bookkeeping to keep everything in balance and in the black. Like a cloud-based software suite, QuickBooks Online is available to a whole team of users and everyone can contribute simultaneously without causing any hiccups. That means all of your support teams can be involved, vastly improving accounting and administrative workflows.

Is QuickBooks easy to learn?

One of the best ways to improve your cash flow is to offer customers the option to pay their invoices online. You can add QuickBooks Payments (formerly known as Intuit Merchant Services) so that customers can pay online directly from their emailed invoice. Using the new Spreadsheet Sync feature, QuickBooks Online extracts financial data automatically and imports them into an Excel spreadsheet.

Intuit reports that 94% of accounting professionals feel QuickBooks Online saves them time and thus saves their clients money. QuickBooks makes it easier for your business as it calculates your income and expenses automatically as they happen. You can then share the invoice with clients through the mail or take a printout and send a hard copy. It allows you to run and view reports easily like the number of outstanding invoices, total amount due from clients and details of each invoice (paid or due). To get the most out of your QuickBooks software, you need to know all the ins and outs of using the program, from creating invoices to paying your taxes.

Why Do Small Businesses Use Float?

If you outgrow any service, you can choose to remove or upgrade it as needed. You can sync your QuickBooks Online account with your bank accounts and credit cards at this stage. This means that QuickBooks will automatically download and categorize your previous transactions from your accounts, saving you time and effort as you won’t have to enter any details manually.

To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Intuit has applied several decades of experience to a product that seems to have thought of everything you could want to organize and control your finances. After you’re all set up, the Sales Tax what is an invoice factoring company Liability Report will help you see how much you owe. Follow me as I walk you through how to get started in your QuickBooks account. If you need to undo an entire reconciliation period, this can only be done in QuickBooks Online Accountant. Otherwise, you can manually undo transactions one by one by following these steps.

QuickBooks will take you to the QuickBooks Bill subscription page where you can select a plan. QuickBooks Online is known for its professional-looking invoices—making it our overall best invoicing software. To customize your invoice, you can upload your company logo, select from different templates, change the invoice colors, edit invoice fields, and add personalized https://quickbooks-payroll.org/ messages for customers. QuickBooks Online is available both as a desktop application and an online SaaS (software as a service) model. However, access to add-on services to the QuickBooks Desktop for Windows 2019 was discontinued after May 31, 2022. If you plan to track inventory quantities, now is a good time to enable Track quantity on hand.