QuickBooks Online has an amazing feature called bank feeds. If you are not familiar with Bank Feeds in QuickBooks Online check out this video tutorial I did to explain them. Once you have your bank feeds properly set up, then you can start to think about implementing bank rules. Bank rules have the power to perform bookkeeping tasks for you in an automated way. The number reason to use bank rules in QuickBooks Online is to save time! Let me say that again, you want to use bank rules to save time. These bank rules will search the downloaded transactions from bank and credit card accounts, then will assign specific categories and payees for them. [...]
QuickBooks Online uses Vendors for companies or persons that you purchase goods and services from. You might refer to these contacts as suppliers in your everyday language, but in Quickbooks Online they are referred to as Vendors. Vendors will involve money going out of the business. Also a Vendor can be a 1099 Subcontractor. Add new vendors by clicking on the Expenses tab and then Vendors. Vendor fields available: Company Account no. Business ID No. Print on check as Email (separate multiple emails with commas) First name Middle name Last name Address Map (hyperlink to view map) Notes Phone Website Other Fax Cost rate (/hr) Billing rate (/hr) Terms (Due on receipt, net 15, 30, [...]
Customers are essential if you are in business. Without customers, the business dies. With QuickBooks Online, you can keep track of customers that you will invoice for work that you perform. The following are fields that you can store in the customers section. Title First Name Middle Name Last Name Suffix Email Phone Website Company Name Billing Address Shipping Address Notes Tax Information (Exemption Details) Preferred payment method (Cash, Check, Credit Card) Preferred delivery method (print later, send later, none) Terms (Due on Receipt, Net 15, Net 30, Net 60, other) Opening Balance Attachments (Maximum size for each is 25MB Make Inactive To open up the Customer section, first click Sale on the navigation bar [...]
In this video, I will teach you how to run the Income by Customer Summary report in QuickBooks Online.
A crucial step to having an accurate QuickBooks account is setting up your chart of accounts. This video will teach you how to get started with QBO Chart of Accounts.
This video will teach you how to use the "Undeposited funds" in QuickBooks Online to record paper checks you deposit in the bank.