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Jun 19, 2018

How to run a Profit and Loss report by Month in QuickBooks Online

By | 2018-06-19T06:59:11-05:00 June 19th, 2018|OntraPort, QuickBooks|0 Comments

The Profit and Loss report by month is an insightful report that sheds insight on monthly income or losses. As as small business owner, this report can help you understand which month was your highest net income month. It also can report which month had the greatest expenses. Knowing your income by month will help you create budgets and have a greater clarity of how your business operates in a yearly cycle. You may wish to collapse the report details by clicking the arrows next to Income, Cost of Goods Sold, and Expenses.

Jun 18, 2018

How to run the Profit and Loss report by Customers in QuickBooks Online

By | 2018-06-18T18:02:55-05:00 June 18th, 2018|QuickBooks|0 Comments

The Profit and Loss report by Customer (aka Income Statement) will display your income, expenses and net income (profit or loss) by customer. Like the regular P&L report, it will be based on a starting and ending period of time. You can access the P&L by Customer by first clicking Reports on the left navigation bar. Then scroll down and select Profit and Loss By Customer which is in the Business Overview section. You can also find it in the search bar by typing "profit" and then selecting the report from the pop up list. This report will help you understand a clearer picture of income or losses by customers.  

Jun 15, 2018

How to to run and customize the open invoices report in QuickBooks Online

By | 2018-06-18T18:03:27-05:00 June 15th, 2018|QuickBooks|0 Comments

The open invoices reports in QuickBooks Online displays a list of all customers that haven't paid in full. This report will link to the Accounts Receivable of the Chart of Accounts. A common mistake for small business owners is to forget the past work they performed for their customers. The may have sent an invoice out to a customer but got so busy serving other customers they forget to collect payments. A business owner who is not organized in collecting customer payments in a timely manner will threat his own chances for existing. The good news is that QuickBooks Online will not forget which customers still have invoices not paid in full. To run the [...]

Jun 14, 2018

How to decide which QuickBooks Online version is right for you?

By | 2018-06-14T13:06:37-05:00 June 14th, 2018|QuickBooks|0 Comments

QuickBooks Online offers three options to purchase. Simple Start Essentials Plus As of June 2018, the pricing is $20 (QuickBooks Online Simple Start), $40 (QuickBooks Online Essentials) and $60 (QuickBooks Online Plus) per month. As your business moves forward, you can opt to upgrade or downgrade your plan. If you want to track inventory in QBO, then need to purchase the Plus version. If you are a non-profit you probably want a copy of the Plus version so you can use the Class tracking feature. TechSoup offers a $50 price for the entire year for copy of a new QuickBooks Plus version. If you are a business coach then you can go with the Simple [...]

Jun 13, 2018

How to reconcile your checking account in QuickBooks Online

By | 2018-06-13T08:07:18-05:00 June 13th, 2018|QuickBooks|0 Comments

If you have a QuickBooks Online account, you should be performing monthly reconciliations for each business checking and credit card account you have. Reconciliation is the process of matching your bank statements to your QuickBooks registers. This process ensures that you do any course correction such as dealing with QuickBooks duplicate entries or bank errors. Before you can reconcile, you will need to obtain your monthly statement from your bank. A checking account statement will have the following: Account Number Beginning Balance Ending Balance Date range period Summary Information that is helpful for the person reconciling: Subtotal of Deposits and Additions (Instances) Checks Paid (Instances) ATM & Debit Card withdraws Electronic withdraws Other withdraws Bank [...]

Jun 11, 2018

How to fix duplicates Vendors in Quickbooks Online

By | 2018-06-11T07:10:16-05:00 June 11th, 2018|QuickBooks|0 Comments

If you discover that you have duplicate Vendors in QuickBooks Online there is a way to merge the records into one. For example, if you have two vendors in QBO, one called "AIRBNB" and the other called "AirBandB" you could merge them together. This means that all the field data would stay with the Vendor you merge into. If you had separate email addressess, then the one that would remain is Vendor whose name you type in Step 4 below. Step 1: Verify that you indeed have the same vendor listed twice, but with a different name. Step 2: Click on the vendor that the name is incorrect. Step 3: Click Edit (upper right corner) [...]