Intuit, the creator of QBO, offers an extensive catalog of lessons on the use of their software. There are also plenty of free resources available in video and print from 3rd parties.
If you’d like a more intensive/personalized experience, courses and classes are an option. But, they are not typically free.
You’ll notice that I tried to gather some simple stats regarding each training option. Some information to help you decide what’s best for you. The navigation rating is my opinion on how easy it is to search the training topics in order to find what you’re looking for.
No guarantee is made regarding stats on QuickBooks training. It’s all subject to change. However, the information is reasonably accurate as of October 2020.
I’ve created some QuickBooks Online training myself. With it, I always strived to be comprehensive yet to the point. If you’d like to check that out, you can do so here:
Cost: $0 Format(s): Video Number of lessons: approx 135 Typical format length: 17:45 Navigation: 3.0/5.0
Hector’s videos are very helpful and comprehensive. I’ve referred to them several times in the past.
Because they’re comprehensive, they’re a little on the longer side. The shortest is about 6:30 and the longest is nearly 30 minutes.
Since his videos are on YouTube, it can be a little tough to find what you’re looking for. His Playlists are not terribly descriptive.
He has 102K subscribers and his videos are very well-reviewed. You’ll typically find Hector in the top five results for any subject you search related to QuickBooks Online.
Cost: $0 Format(s): Video Number of lessons: approx 36 Typical format length: 5:15 Navigation: 3.0/5.0
I’m not as familiar with BookkeepingMaster. He has, however, 70K subscribers.
His videos are shorter and he doesn’t cover the breadth of topics some of the other YouTubers do. Videos typically run from 3:30 to a little over 7 minutes.
I believe he is British. Which gives him an air of dignity.
It also means that he uses the British version of QuickBooks Online. I don’t know for sure, but there could be discrepancies in the technical accounting. The currency is obviously different. Other than that, the fundamentals should be the same.
Cost: $0 Format(s): Print Number of tutorials: approx 50 Typical format length: 900 words Navigation: 1.0/5.0
This is not a great option, in my opinion.
Many of the results from searching for “QuickBooks Online” are for QuickBooks Desktop with the word “online” worked into the post somewhere. To be fair, it’s a distinction that Google hasn’t been able to make yet.
Also, you can’t skip pages to find what you need; you just need to keep pressing “Older” or “Newer.”
Dummies does have a unique take on some topics that I didn’t see with any of the other options.
Yes. Early this year, Intuit announced that outdated versions of QuickBooks Desktop were to be discontinued.
Come June 1, 2021; the company ended all access to add-on services on its Windows 2018 desktop edition. It included older versions of the accounting program, such as Pro, Premier, and Enterprise Solutions of QuickBooks Desktop 2018.
Right after May 31, 2021, users no longer had access to certain features of QuickBooks Desktop 2018, such as Payroll, Live Support, Online Banking, Online Backup, and other services. And, as of June 1, 2021, they no longer received essential security updates.
Concurrently, on May 31, 2021, certain products were also effectively phased out:
2018 QuickBooks Desktop Pro
QuickBooks Premier Desktop 2018
Premier Accountant Edition 2018
Enterprise Solutions for QuickBooks 2018
Right after, on February 2, 2021, other products were also phased out.
Payments services in QuickBooks Desktop Point of Sale 12.0
What happens to my software and data, do I need to upgrade?
If you were not subscribed to any QuickBooks Desktop 2018 add-on services, your software should continue to function normally. However, you will no longer have access to live technical support or other Intuit services that work with QuickBooks Desktop.
It’s highly recommended to upgrade to the most recent version of the QuickBooks Desktop to receive all of the product’s features and support. Alternatively, you can also convert to QuickBooks Online.
What happens when I upgrade?
You’ll be prompted to convert your company file so that it will function properly with your new QuickBooks. QB takes great care to protect your information during this procedure. And most importantly, before they do anything, they verify the integrity of your data file and create a backup.
List of other products that are fully operational and available for users:
2021, 2020, 2019 QuickBooks Desktop Pro and Premier
How long does it take before the upgrade is completed?
Usually, It takes less than an hour, but the larger your file is, the longer it’ll take. You’ll be required to activate QuickBooks Desktop 2021 or QuickBooks for Mac 2021 when you install it.
00:00 QuickBooks Online credit memos ensuring 00:02 accurate reporting okay so I let’s start 00:06 off your video off with a quick answer 00:08 so that somebody just needs to know 00:11 where to navigate to can get the 00:14 information they need the as you can see 00:17 there’s kind of a lot of aspects a lot 00:20 of quick answers to this video I will 00:21 start with the most fundamental which is 00:23 how to actually create a credit memo 00:24 okay and that’s easy enough that it is 00:28 done by going up to the new button and 00:30 under the customers heading you’re gonna 00:33 click on credit memo okay so once you 00:36 have a credit memo in there so you want 00:38 to apply that credit memo to an invoice 00:40 for a customer that’s new receipt 00:44 payment and enter the pertinent 00:56 information there back you out okay say 01:06 that you’re not able to do that ideal 01:09 thing where it makes more sense to issue 01:11 a refund rather than a credit memo you 01:14 can do that also in the new button and 01:17 hit refund receipt under the customers 01:21 column 01:34 and you’ll select the amount of the 01:36 refund there and fill out all the other 01:38 pertinent information about the customer 01:40 and then finally the customer request 01:43 statement or if you send out statements 01:45 as a matter of procedure then that’s 01:49 going to be a little different area 01:50 that’s gonna be the sales menu and 01:53 customers and you’re gonna select a 01:55 customer those sales customers okay you 02:01 just select the customer and batch 02:04 actions it’s a little tough to say and 02:07 create statements pick your statement 02:11 type your date range and send it the 02:15 customer okay so that’s it for the quick 02:19 answer now I’m gonna get into a little 02:22 more detail there’s a lot to cover here 02:25 so we’ll start plugging away okay so 02:32 first of all what our credit memos 02:35 excuse me 02:37 credit mine was the ability to credit a 02:38 customer for a particular dollar amount 02:41 next time that they receive an invoice 02:43 the credit will reduce the amount that 02:45 they owe it’s not a refund not the same 02:49 thing similar in nature but not the same 02:52 cash does not go back to the customer 02:55 which all things being equal is good you 02:58 don’t want cash leaving a business if 03:00 you can help it 03:01 it can be reflected on a customer 03:03 statement of course and should be and 03:06 will reduce the amount of accounts 03:10 receivable that you have once you’ve 03:12 created a credit memo okay so why use 03:14 them you know changing a transaction 03:19 like a past transaction can create 03:23 confusion you know if you’re tweaking 03:26 the amount that you sold it for or start 03:29 fidgeting around with you know standard 03:32 prices and and that sort of thing you 03:35 might not know the details of why you’re 03:38 doing what you’re doing so you know your 03:40 books could become out of balance if the 03:42 transaction was in a previous period too 03:44 so you know in simply discounting the 03:49 next transaction along the same lines 03:51 isn’t gonna tell the whole story you can 03:53 look back a year from now two years you 03:56 know you could send out a statement to 03:57 the customer they weren’t clear about 03:59 what happened and you don’t remember if 04:01 you deal with a lot of customers a lot 04:03 of transactions or somebody else in your 04:05 organization did it or you didn’t do a 04:08 credit memo but edit a transaction it 04:10 just can create confusion so you know a 04:13 credit memo accurately portrays the 04:15 events that took place okay it creates 04:17 what they call an audit trail it you 04:21 know allows you to look at it and 04:26 basically do what I out on this channel 04:30 is to make sure your accounting system 04:33 matches reality you know so it’s 04:37 beneficial in those terms and you know 04:43 really the the correct the best practice 04:46 so to speak when it comes to giving a 04:48 customer credit you know and a credit 04:51 memo is preferable to a cache where you 04:53 fund all things being equal sometimes 04:55 you’ll have to do a refund perhaps but 04:58 you know the reason for that is because 05:00 the old finance or basically what 05:03 corporate finance is built on a dollar 05:05 today is worth more than a dollar 05:06 tomorrow you want to keep that cash in 05:08 the organization so you can use it so 05:10 you can use it to pay employees so you 05:11 can use it to pay vendors okay so you 05:14 can reinvest it in your business and if 05:16 you send cash out to the customer 05:19 there’s no guarantee that they’re going 05:20 to return with that cash okay if if you 05:23 can get away with using a credit memo as 05:25 opposed to a refund then it incentivizes 05:27 them to come back their next purchase is 05:30 going to be less it’s going to have a 05:33 credit applied so you know it’s that’s a 05:37 couple of the reasons that a credit memo 05:39 is preferable to a cash refund with 05:43 QuickBooks Online it can be applied 05:45 automatically this is something you 05:47 specify in accounts and settings to 05:51 automatically when you create a credit 05:53 memo to apply to next invoice but yet 05:56 like I said you have to turn that 05:57 setting on 05:59 so we’ll get in a little more detail 06:02 rather than a quick answer rushing 06:04 through how to create a credit memo 06:09 again you’re gonna go to the upper left 06:14 do new button bit credit memo will 06:19 appear under customers credit memo and 06:25 then you’re gonna pick your customer 06:26 that’s going to receive the credit memo 06:32 will use won’t Duke’s basketball camp 06:36 again so you need to specify what the 06:45 credit memo was for if it’s you have to 06:50 use your judgment here if it’s in 06:52 regards to something being miss you know 06:59 something wrong on the invoice to the 07:01 customer or something an error involving 07:05 a particular product or service you can 07:06 select that particular product or 07:08 service and edit the quantity and/or 07:10 rate rate over to the right here or 07:15 potentially you could create a non 07:17 inventory product or service and 07:22 basically edit the description to say 07:25 this is a credit for you know the 07:31 customer was upset about the customer 07:33 service or something or whatever the 07:34 reason may be you know just so again so 07:37 you’ve got something a thorough 07:39 description there so you know when you 07:41 look at it years from now what you did 07:43 this for so maybe we miss billed if 07:50 that’s even a term build an error for a 07:56 rock fountain to Duke’s basketball camp 07:59 and we want to issue a credit memo for 08:03 $275 08:10 okay so we enter that information 08:14 product or service it is optional you 08:16 can just enter a quantity or rate also 08:19 and then you’re gonna hit save and new 08:23 if you want to do another you have a 08:25 couple credit memo standard Savin San to 08:27 email them the credit memo or just save 08:30 and close to exit in this case you can 08:33 preview it if you’re sending it to the 08:34 customer and you know actually let’s do 08:38 this let’s just delete this and let’s 08:44 just say we’re going to credit the 08:45 customer $275 they’re no product just we 08:49 messed up here’s our credit for $275 08:56 okay so that got sent to the customer 09:00 this is a sample company so didn’t 09:02 really send it to anybody but now it’s 09:05 in a system for Dukes basketball camp 09:08 okay so you expanse of all camp comes 09:11 back to us for more landscaping services 09:13 that’s our sample company that’s the 09:15 business they’re in and we’re gonna play 09:18 that credit to the next invoice so have 09:21 to have an existing invoice to credit of 09:23 course and it’s only necessary if 09:27 automatically applied credits like I 09:29 mentioned and account settings isn’t 09:31 selected and to do so you go to new the 09:35 upper left button receive payment and 09:44 hopefully there’s a default invoice in 09:46 here for Dukes basketball camp let’s see 09:56 doesn’t have an open invoice okay so I 10:00 picked the wrong customer there let’s go 10:03 with Geeta okay 10:06 so we’re gonna select we chose this 10:12 customer we’re gonna select the 10:13 appropriate invoice with a checkbox and 10:15 then there we go and then down below 10:24 here we would have a credit section that 10:30 we could apply to Gita’s let’s back out 10:36 of here and do it the right way 10:39 new credit memo and let’s apply it for a 10:51 friend eat it 10:57 let’s see I’m just doing them out here 11:03 over the 275 there okay now we have a 11:17 credit memo and forget it – now we will 11:25 go to new receive payment we know Geeta 11:30 has at $623 employees has standings 11:33 there I’m 11:45 is that and actually in this case they 11:51 are automatically applied 11:53 so you’ll notice the original amount 629 11:55 I misspoke but here’s the balance 11:58 at $275 doesn’t itemized it here but 12:02 you can see that it did apply it on the 12:06 next invoice if it’s not automatically 12:10 applied like I said it’ll appear down 12:11 here below where you can select the 12:12 credits that you want to apply to credit 12:14 memos to the invoices you’ve selected so 12:18 when we applied that save and send to 12:22 Geetha and hopefully it will show 12:26 applied on her PDF here no it doesn’t 12:36 that’s a little bit of a shortcoming a 12:37 little more detail would be good there 12:39 but what’s important is Geetha gutter 12:43 credit 12:44 okay so Geetha is a happy customer once 12:46 warm and you know we go back about our 12:50 business 12:52 so issuing a refund now let’s say Geetha 12:56 said no I’m never doing business with 12:57 you again I’m outraged you know it’s a 13:01 bad situation 13:02 I want to refund okay then to issue a 13:06 refund again to new we’re gonna go to 13:08 refund receipt this time the customers 13:10 column we’re gonna choose Geetha from 13:13 the drop-down customers refund receipt 13:28 choose geet okay and we want to choose a 13:38 refund payment method okay we’re gonna 13:41 do cash we’re gonna do credit back on 13:44 our credit card will do check for Geeta 13:52 and where it’s coming from want to 13:57 select that and we want to enter an 13:59 amount to that $75 and hopefully that’s 14:06 it for the refunds were issuing so we’ll 14:08 hit save and close and Geeta 14:14 there goes refund issued $275 okay now 14:22 it’s getting a little more detail about 14:25 statements statements provide 14:28 transparency to customers about their 14:30 account standing about the details of 14:32 credits refunds and that sort of thing 14:33 unfortunately the the receipt that we 14:37 issued early to get it didn’t I mean she 14:40 would probably know but it didn’t say 14:42 you know hey and you know and this is 14:44 just a preference of mine I want to know 14:46 here’s what it was you know the cost of 14:51 what I purchased from you here’s what 14:52 the amount it was this kind of buy is 14:55 and here’s the net amount that I would 14:57 owe and you know and I paid and here’s 15:00 my receipt detailing all that I didn’t 15:04 do that but the detail should be on the 15:06 statement so how to create a customer 15:11 statement it’s time again we don’t go to 15:14 new button we go to the sales menu with 15:18 select customers and we are already here 15:20 so sales customers that’s where we are 15:22 now okay then I’m gonna check box for 15:26 let’s look at eat as a count here for 15:29 the customer we want and you can do this 15:34 as in batch so you can do what have you 15:36 select here for all customers in this 15:37 case we’re just doing Geeta 15:38 she says send me stay Milan I’ll make 15:41 sure everything’s right about what you 15:43 did with my account okay eat him happy 15:46 to do that and we select that batch out 15:52 actions drop-down and create statements 15:55 okay so we want to select the statement 15:58 type that we’d like to create we’ll get 16:00 into that in a little more detail here 16:03 in just second we want whichever is most 16:05 appropriate for the situation with the 16:07 date range we’ll give her for the past 16:09 month here and yeah so let’s talk about 16:14 statement types real quick before we do 16:16 that 16:16 okay balance for word is gonna give a 16:18 list of payments and invoices that the 16:20 customer had it clarifies what is 16:22 currently do on the account open items 16:26 okay this is gonna be open invoices 16:28 detail and unpaid invoices credit memos 16:31 and unapplied payments this would have 16:33 been the type of statement we would have 16:35 santaguida before we did the settled the 16:42 invoice earlier well actually that one 16:48 might I guess since we just sent the 16:50 invoice then one might be appropriate 16:51 trans actually same it’s gonna be 16:52 transaction detail of a date range it’s 16:54 appropriate for accounts with a high 16:55 volume of transaction so let’s try this 16:56 open item here and apply it now nothing 17:08 trade balance forward then 17:20 all right because Gita’s balance is zero 17:23 now so let’s do save and send this is 17:29 what’s nice about QuickBooks Online it 17:30 gives you the opportunity to preview it 17:32 yeah this is what we want okay so not a 17:35 high volume in transactions but 17:37 specifies what we did on the account you 17:42 know we issued an invoice on 12:12 for 17:45 six hundred twenty nine ten dollars 17:47 there’s our credit memo we entered 17:49 earlier for 275 there’s a refund 17:52 we gave her for 275 obviously in the 17:54 real world you probably wouldn’t do both 17:56 but you know Gaeta was our best example 17:59 so now Gaeta owes us seventy nine ten 18:04 we’ll send that to her and there you go 18:10 okay 18:12 so have you previously created 18:13 statements and like I said there’s a lot 18:16 of detail on this one but we’re almost 18:18 through it sales on the Left menu with 18:22 all sales sales all sales we’ll just 18:26 click it here takes us to the same spot 18:32 from there we’re gonna select the filter 18:35 drop down and type statements so we want 18:41 to filter and type so drop down drop 18:45 down statements okay for the last year 18:52 well let’s apply that should show Geetha 18:54 is I think yes there it is so now we can 18:58 see it again if she calls in with a 18:59 question about her statement you know 19:02 again this isn’t all gonna happen just 19:05 boom boom boom like we’re doing it now 19:06 you know time will pass people forget 19:09 stuff you know you got a lot on your 19:11 plate as a small business owner so you 19:15 know this is how we can see again 19:17 Geeta’s a statement and she wants to 19:20 call him and speak on it then we’ll have 19:22 it in front of us and we can help her 19:24 piece together what happened so 19:29 that’s the view previously created 19:31 statements now to automatically apply 19:34 credits which is what was set up in this 19:39 particular sample account but just to 19:42 let you know how that happened 19:43 I’m gonna go to the gear in the upper 19:45 right accounts and settings under the 19:48 your company heading your company 19:54 accounts and settings then on the Left 19:57 menu we’re gonna go to advanced and 19:58 we’re going to edit and edit click the 20:01 little pencil any automation section 20:07 waiting on it here ok let’s try again 20:14 counts and settings let’s do advanced 20:21 and like I said down here in the scroll 20:26 post-it no advanced ok in in the 20:40 automation section edit and that’s check 20:47 box you’re looking for automatically 20:49 applying credits is on off set of how 20:53 you want it probably on and then you 21:01 want to click Save now will 21:03 automatically applying credits then 21:06 click done to get out of the accounts 21:08 and settings okay so that covers 21:13 everything to do with credit memos so a 21:19 lot of information there but covered 21:21 credit memos refunds statements you know 21:26 so everything kind of potentially 21:29 affected by a credit memo so there’s a 21:31 lot to you know there QuickBooks Online 21:35 is pretty simple but there’s a lot of 21:37 different a lot of things you can do you 21:40 know because business is dynamic and 21:41 you know that you know so if bookkeeping 21:46 isn’t your cup of tea if you know having 21:49 to research and how to do this stuff 21:51 every time you need to do something new 21:52 there’s a new cup of tea if you’d rather 21:54 spend your time working on your business 21:56 helping it grow and less time on menial 21:59 tasks like watching spreadsheets for 22:01 business quickbooks online videos 22:03 nothing personal I get it and you know 22:07 you just want to do more business and 22:09 less data entry okay then check out bot 22:11 keeper I’ll have a link down in the 22:12 description and what bot keeper does is 22:15 automate but keeping tasks that you hate 22:17 to do all right so it’s a artificial 22:21 intelligence powered and that’s what 22:24 does the bulk of the work and then it 22:27 also has a human touch that kind of 22:29 qualifies the artificial intelligence 22:32 transactions and you know just puts a 22:35 set of human eyes on it to to make sure 22:37 everything’s accurate timely and you 22:41 know most importantly off your back so 22:42 if it’s something you think you’d be 22:44 interested in again click that link down 22:46 in the description and check it out so 22:48 this was a long video I’ll wrap it up 22:51 here thank you for liking and 22:53 subscribing and why would you like well 22:56 if you liked the fact that I got gave it 22:59 a quick answer up front was shortened to 23:00 the point but then went into more detail 23:02 after that if you’d like that format I 23:03 would appreciate a like if you find 23:05 yourself if you’re gonna do your own 23:07 bookkeeping and you find yourself 23:08 looking up how to videos and QuickBooks 23:11 Online fairly often then consider 23:14 subscribing so you can just jump onto my 23:17 channel and see if I’ve covered it and 23:19 in that case great then if not you can 23:22 search search it on the YouTube you know 23:27 through the youtube search so hey I’m 23:30 appreciate you guys watching as always 23:32 take care
How Do Purchase Orders Work in QuickBooks Online? Video summary
Here’s how to create an estimate in QBO:
Click Sales (left menu), then All Sales
Next, New transaction (button, top-right), then Estimate
Here’s how to create a purchase order from an estimate:
Click Sales (left menu), then Customers
Next, select Estimate (colored box, “Money Bar”)
Then, click “# Open estimate” (Open Estimates header) and select Estimate
Change from Pending to Accepted
Finally, change Create invoice to Copy to purchase order
Here’s how to convert an estimate to an invoice in QBO:
Click Sales (left menu), then Customers
Next, select Estimate (colored box, “Money Bar”) and then click Start invoice (Action column)
Finally, click Add (right side, Estimate #)
What are estimates in QuickBooks Online?
An estimate is an offer to a customer. It’s an official assessment of how much, you think, a set of products and/or services will cost them.
Technically speaking, it is a non-posting transaction. No GL entry is made in QuickBooks Online when an estimate is created.
Estimates are sometimes required by larger customers or government entities.
Though the estimate won’t result in a GL entry directly, the information from the estimate can be transferred to purchase orders (for products/services needed to complete the bid). Or, it can be transferred to invoices (to bill for the work specified in the estimate).
In both cases, you are saved the hassle of having to re-enter information.
Creating an estimate in QBO
Start by clicking Sales (in the left menu). Next, choose All Sales and New transaction (dropdown, top-right). Then, click Estimate.
Select the appropriate customer (from the dropdown). Enter the Estimate date & Expiration date.
Choose the appropriate Products/Services (dropdown). Edit the Rate and/or Amount if necessary.
When done, click Save and send (button, lower-right). Preview the Estimate and if everything looks okay, click Send and close (button).
Creating a PO from an estimate in QuickBooks Online
Start by clicking Sales (in the left menu) and choose Customers.
Select Estimate (colored box, “Money Bar”) and click “# Open estimate” (Open Estimates header).
Next, you’ll click on appropriate Estimate and choose Pending (in the upper-left, dropdown). Change it to Accepted.
Click Create invoice (upper-right, dropdown). Now, change to Copy to purchase order. Select OK (button).
Almost there…
Select Vendor (from the dropdown). Then the appropriate Product/Service (Item details, dropdown). Finally, click Save and send (button) to preview the Purchase Order. If all is okay, click Send and close.
Converting an estimate to an invoice in QBO
As usual, start by clicking Sales (in the left menu) and choose Customers.
Update the Invoice date & Due date. Click Add (right side, Estimate #). Then, enter the details for the amount to invoice. When finished, click Save and close (button).
00:00 QuickBooks Online and deposited funds 00:01 the best practice for handling them 00:06 quick answer is to enter the undeposited 00:10 funds and then enter the deposit so 00:15 undeposited funds are entered the upper 00:18 left the new button under customers and 00:23 receive payment and enter the pertinent 00:31 information there and choose your 00:32 invoices and after that when you 00:37 actually make the deposit in the bank 00:38 you also come up to the new button under 00:42 other bank deposit you’ll enter the 00:46 pertinent information up top and then 00:49 you’ll check your undeposited funds and 00:52 that you’re going to deposit okay so I’d 01:00 like to start every video on with a 01:01 quick answer like that and then after I 01:03 get into a little detail so what are 01:07 undeposited funds for starters 01:09 these are receive checks there may be 01:12 cash that aren’t yet deposited into the 01:17 bank so you want to record them as a 01:19 sale you want to send a customer a 01:23 receipt you want to acknowledge that an 01:26 invoice is no longer outstanding and the 01:30 reason you want to do that is because 01:32 you know it’s kind of a thing I’ve 01:36 always preached that you want your 01:37 software your accounting software to 01:41 match reality you want it to reflect 01:43 reality because that’s its job is to 01:46 reflect the reality of your business so 01:48 that’s why you acknowledge that this 01:51 cash has been received but you know 01:54 again the reality is also that it is not 01:56 yet been entered into or deposited into 01:59 your bank account so it allows you also 02:05 when you when you make a deposit you 02:07 know probably a lot of businesses are 02:09 going to batch a lot of checks together 02:11 you know 02:12 from client one client to client three 02:14 and client for you know for $100 each 02:17 let’s say for a $400 deposit will your 02:20 bank statements gonna reflect a 400 02:22 dollar deposit you know if you didn’t 02:25 enter these undeposited funds 02:28 individually you know the the for $100 02:32 payments you received then you know 02:37 you’d have a tough time matching it to 02:41 your bank statement okay your bank 02:43 statements gonna say 400 you’re gonna 02:45 have for $100 payment receipts so he 02:50 said this way 02:51 QuickBooks knows it was these four 02:53 payments that comprised that $400 02:57 deposit hope that makes sense we’ll get 03:01 into a little more detail here okay so 03:04 back to entering undeposited funds as I 03:08 mentioned in the upper left there’s the 03:10 new button the customers heading in the 03:12 received payment okay let’s go back to 03:15 that screen all right so the first thing 03:23 you’re gonna do is enter the customer 03:25 who made the payment of course and we’ll 03:28 just pick someone at random from this 03:30 list who hopefully I was outstanding 03:32 invoice they do so I picked Red Rock 03:36 diner and then the date the payment was 03:39 made okay that’s gonna be reflected on 03:42 the receipt and they you know again you 03:43 want that they made payment yesterday 03:46 but you didn’t get a chance to enter it 03:47 into QuickBooks until today you want to 03:49 change that to yesterday’s payment 03:51 payment date you can honor the payment 03:55 method cash check or credit I’m not sure 04:03 when credit would apply there might be 04:07 circumstances since I have it as an 04:08 option but typically I would say it’s 04:11 going to be cash or cheque and then a 04:14 reference number this could be your 04:16 customers cheque number or some other 04:18 unique identifier so if need be if there 04:21 was a problem or you needed to do 04:23 some digging around on something you 04:25 could have a valid reference number like 04:32 I said you can put a check number in 04:33 there and you want to put it in 04:36 undeposited funds is you I guess right 04:41 that’s probably why credits in here 04:43 because this is receive payment it’s you 04:45 know this is what specifies that it goes 04:47 to undeposited funds so you could 04:49 obviously receive a credit payment and 04:52 you know but not probably wouldn’t put a 04:56 ton to positive funds so and after you 05:01 enter that information up there like I 05:06 said put it under positive funds go the 05:07 next slide here if it’s in response to 05:11 an invoice then you’re gonna match click 05:14 the checkbox next to the appropriate 05:15 invoice and that is it so let’s say that 05:19 our customer Red Rock diner paid on this 05:25 hundred fifty six dollar invoice and 05:27 that’s gonna reflect down here the 70 05:31 dollar invoice is still outstanding 05:32 you can click either save and new to 05:36 enter a new undeposited funds for a new 05:39 client or if that’s your last one save 05:43 and send we’ll send a customer a receipt 05:45 so even close will do exactly what it 05:48 says and close it take you back to the 05:52 dashboard there okay so you know you’ve 06:00 entered all of your undeposited funds 06:04 and now you’ve come back from the bank 06:11 where you actually made the deposit into 06:13 your checking account so we’re savings 06:17 you want to enter that into QuickBooks 06:19 so that is also a bit new and it’s under 06:23 other bank deposit 06:31 and let’s see what do we do we just did 06:35 Red Rock diner tastes assy 06:38 well first you want to select your 06:41 account that you’re going to put it in 06:43 which most times would be checking I 06:46 imagine perhaps savings the date you 06:49 made the deposit again if you made a 06:51 deposit this also helps with if you made 06:53 it yesterday 06:55 if you made it yesterday make sure you 06:57 pay yesterday because this will also 06:59 help with you know reconciling your 07:02 checking account again you want your 07:04 accounting software to match reality so 07:08 select the accountant a date we hit the 07:12 check box next to the appropriate 07:13 undeposited funds that we deposited and 07:17 it’s a similar sort of thing you can see 07:21 Red Rock diner the date all the 07:23 information we entered previously you 07:27 have a chance to edit it here 07:29 and I can do save a new to enter another 07:33 bank deposit or save and close’ will do 07:37 save and close the show we deposited at 07:39 one hundred fifty six dollars and there 07:41 we go our transactions and QuickBooks 07:44 Online match what actually happened in 07:47 reality so that’s it it’s a pretty 07:54 straightforward sort of thing the 07:55 intuitive to enter and as long as you 07:58 understand why it’s important to enter 08:00 undeposited funds and you know the 08:04 detail and again have that information 08:06 in your accounting software match 08:08 reality you know when saying with the 08:12 deposit then yeah it was really good 08:15 like I said it’s a pretty simple thing 08:16 to do so anyhow if you know that’s 08:21 simple some other bookkeeping tasks 08:23 aren’t as simple and bookkeeping isn’t 08:25 everybody’s cup of tea particularly if 08:27 you’re a small business owner you know 08:29 your your expertise is in your craft you 08:33 know whatever whatever you’re selling 08:35 and you know bookkeeping might be a 08:39 chore for you so if that’s the case you 08:42 check out ba keeper there’s 08:44 link down in the description and what ba 08:47 keeper is basically a bookkeeping 08:50 service that utilizes artificial 08:54 intelligence to handle the bulk of the 08:58 workload and then also implements a 09:00 human element to kind of qualify things 09:03 to you know to double check to make sure 09:06 everything’s going alright so what you 09:08 know what it does though allows you to 09:11 work more on your business and less on 09:13 data entry and you know spend more time 09:17 pumping to grow so if you find in 09:20 bookkeeping to be a chore definitely 09:23 click on that link and just check it out 09:26 and see if it’s something that might 09:29 help and make your life easier so that’s 09:33 it for this video you like you know it 09:37 is format with every quickbooks online 09:41 every video that i post you know or have 09:45 been posting recently is start out with 09:47 the quick answer so you can get the 09:50 information you need right off the bat 09:51 and then doing a little more detail on 09:53 the subject matter if you like that 09:54 format being short to the point up front 09:57 and detailed and do the rest of the 10:00 video you could show that that you like 10:05 that by giving the video a like and you 10:07 find yourself searching for quickbooks 10:09 online how to videos fairly often or you 10:11 think you might search in the future you 10:13 can subscribe and then you’ll know to 10:14 check spreadsheets for business first to 10:18 see if i covered the subject and that 10:21 mean quick and easy for you so so I got 10:24 appreciate you guys watching 10:26 take care
What types of user permissions can be set up in QuickBooks online? Video summary
Manage users in QBO by navigating the following:
Gear (icon) > Manage Users (Your Company section) > Add user (button)
Different users have different needs
A Company Administrator can perform all tasks in QuickBooks Online. An example of a Company Administrator is an owner or a trusted manager.
A Standard user is someone that you can pick and choose what they have access to. An employee would be an example of a Standard user.
A Reports only user, as you might expect, only has access to reports. There are exceptions, however. They can’t see payroll information or reports with contact info in them.
Finally, a Time-tracking only user can only see their own timesheet. Nothing else. A subcontractor is someone who might have Time-tracking only permissions.
Creating a new user in QBO
Click on the Gear (icon) and select Manage Users (in the Your Company section).
You will see a list of users.
Next, click Add user (button) and select user type. Your choices will be:
Standard
Company admin
Reports only
Time tracking only
After that, you’ll Select access rights & user settings. These settings are up to you.
After that’s done, you’ll enter the user’s contact info. They’ll then receive a notification via email and will have to sign in to QuickBooks Online to confirm access.
What about payroll access for Standard users?
Granting payroll access is a decision you must make for Standard users.
Granting payroll access is done on the Select access rights (screen).
If Standard usersdo not have payroll access, then individual payroll information will be masked (hidden).
For example, on Workers > Employees, nothing will be shown. The user will receive a notification that they don’t have access rights.
On the Transaction report, payroll entries will mask names. All the Standard user will see is “Payroll.”
Finally, on the Bank register, payroll entries will also mask names. Here too, all the user will see is “Payroll.”
Payroll access is not an option in the sample company. That’s why there is no walkthrough in the video.
Adding company admin access rights + user settings
Determine if this user is your accountant (my accountant). If so, check the corresponding box. You can only have one user as your accountant (my accountant).
Click Next (button) and enter the user’s First name, Last name, and Email. Since they are a Company admin there are no settings to specify.
Entering standard user access rights in QuickBooks Online
For Standard users, the first thing to decide is how much access you want this user to have?
You can give them “All” access. Which is just a little less than a Company admin.
You can give them “None” access.
Or, you can give them “Limited” access; which is access to customer and/or vendor information.
If you give them Customers permissions they will have access to the following:
Estimates
Invoices
Sales receipts
Statements
Charges
Credits
Customers
Products
Services
Sales tax
Receive payments
Run related reporting
If you give them Vendors permissions they will have access to the following:
Bills
Purchases
Vendors
Products
Services
Pay bills
Write checks
Run related reporting
If a Standard user has Limited access rights, they can’t:
Edit accounts
View quantities on hand
View bank registers
See income/expenses
Entering standard user settings in QuickBooks Online
After you determine Standard user access rights, you’ll be asked to specify their settings. There are three determinations to make:
Edit users?
Yes, No, or View only
Edit company info?
Yes or No
Manage subscriptions?
Yes, No, or View only
Finally, you’ll be asked to give their First name, Last name, and Email so that they can log in to QBO and confirm their status.
Reports only access rights/user settings
For users that you only want to give Reports only access – all you need to do is enter their First name, Last name, and Email so that they can log in to QuickBooks Online and confirm their status.
Time-tracking only access rights/user settings
For users that you only want to give Time-tracking access – you can select the appropriate employee or vendor from the dropdown.
If the appropriate employee or vendor is not yet entered into QBO, then you can click Add new and enter their info.
Then, you’ll give their First name, Last name, and Email so that they can log in to QuickBooks Online and confirm their status.
Where and how to sign up for QuickBooks Payments in QBO video summary
For a new account:
Gear icon
Account and Settings (Your Company)
Payments
Learn more (button)
For an existing account
Gear icon
Account and Settings (Your Company)
Payments
Connect (button)
What does QBO Payments do?
QBO Payments allows your small business to accept payment by:
Credit card
Apple Pay
Bank transfer
There is a “small” fee per transaction for all of the above.
If your customer has prior authorization, they can pay online invoices with “Pay Now” button. They can also pay over the phone. Either option will get you paid quicker.
Customers have the option of entering their credit card information too. All transactions are automatically entered into QBO.
Applying for a QBO Payments account
Gear icon > Account and Settings
Left menu > Payments
Learn more (button)
Set up payments (button)
Section 1 of the application will ask for information about your business Some information will already be populated. So, enter any additional information that is needed and double-check what was auto-filled Click “Next.”
Section 2 of the application asks for owner information. Complete what is needed here.
Section 3 of the application asks for bank information Just search for your bank. When you find your bank, enter your account & routing number.
Connect existing QBO Payments account
If you have one of the following, you can connect it to QBO Payments:
GoPayment
QuickBooks Merchant Services
Intuit Merchant Services
Intuit Check Solution
Click on the gear icon and then Account and Settings.
Then, click on Payments on the left menu.
Finally, click the Connect button.
If you’re having trouble, click Help at the top of the screen and then Contact us. Support will call back and walk you through the process.
If you plan on processing over $7.5K per month be sure to ask for special pricing.
00:00 sales tax and QuickBooks Online how to 00:02 manage the quick answers our first to go 00:09 to taxes and then add or edit tax rates 00:13 and agencies or edit sales tax settings 00:15 where you can edit what you’ve already 00:18 entered and that’s like I said in taxes 00:21 and then the add edit tax rates and 00:25 agencies click new to add a new sales 00:28 tax rate or if you want to enter what 00:33 you’ve sorry edit which you’ve 00:35 previously entered click on edit sales 00:37 tax settings if you want a view 00:41 reporting on your sales tax liability 00:46 you go to taxes again view sales tax 00:48 liability report that is here here you 00:55 can specify the reporting period or put 00:59 in custom dates and you can select which 01:02 tax agency you want to see reporting on 01:05 just change those settings at run report 01:07 and finally any other sales tax setting 01:11 you might want to edit is the sales tax 01:15 category for products and services to do 01:17 that you go to sales products and 01:21 services and you get here you’ll see a 01:26 listing of your products and services 01:28 just click the one you want to edit 01:30 click Edit under the action column and 01:39 towards the bottom of the product 01:41 service information screen you should 01:45 see sales tax category okay so that’s 01:50 quick answers now we’ll get into a 01:52 little more detail about all that so 01:58 before I get into it I want to start off 02:02 with a caveat did recently QuickBooks 02:07 Online has made some changes to the user 02:11 experience and 02:13 I’m getting conflicting information 02:15 between what I see in the sample company 02:17 which is what I use for my examples 02:20 obviously I use that for purposes of 02:22 privacy so I’m seeing a difference 02:24 between that and what I’m seeing 02:28 elsewhere so what I chose to do in order 02:35 to get this video out not sit on it 02:38 forever is to basically cover both ways 02:41 so I guess whatever QuickBooks has got 02:46 going on in terms of that you new user 02:48 interface if it’s affecting you yet 02:52 then you should still be able to use 02:54 this video if it’s not you should also 02:56 still be able to use this video so with 02:58 all that said we’ll get into it here 03:03 capabilities of QuickBooks Online it’s 03:05 supposed to have a sales tax engine it 03:07 makes calculations that basically kind 03:09 of a wizard for figuring out sales tax 03:12 what it does do though once you enter 03:14 information automatically calculates 03:15 every time that you enter an invoice or 03:18 a sales receipt okay so it’s based on 03:21 the location of the sale and the type of 03:24 product and basically everything you 03:26 entered during setup there supposed to 03:29 be a sales tax enter where you can view 03:31 upcoming tax payments see liability 03:33 reports change settings and all that you 03:36 can as I covered in a quick answer still 03:38 do most of that but again 03:40 things have changed somewhat so I can’t 03:44 walk you through an example of the old 03:47 basic setup or any of the old examples 03:50 because again the sample company has 03:53 changed is different than they used to 03:56 be but here’s how the old way used to do 04:00 basic setup and you go to left menu 04:03 taxes and in setup sales tax there would 04:06 be a button there you would confirm your 04:08 address your place of business and it 04:12 would ask you if you needed to collect 04:14 sales tax outside of where your address 04:17 was and you’d click typically no they’re 04:25 in close the window then 04:27 he would also select a filing frequency 04:28 and you’d be giving guidance on that 04:30 based on your locality and the 04:35 anticipated amount of receipts you had 04:37 how often you should file unfortunately 04:40 seems for the time being all that’s gone 04:42 you’re now left to kind of sort it 04:47 figure it all out yourself I would 04:50 assume that’s a functionality that 04:52 they’ll bring back but yeah I don’t know 04:55 like I said things are a little weird 04:56 now as of the recording of this video so 05:00 the new way though you know that I’m 05:02 still go to taxes on the left menu then 05:04 like I said add edit tax rates and 05:06 agencies let that load up and your first 05:14 time you’re probably going to when 05:16 you’re setting it up you’re gonna want 05:17 to click new and you’re gonna choose 05:22 whether you do a single or combined tax 05:26 rate and if you’re not familiar a single 05:31 tax rates pretty straight forward that 05:34 would be like a state sales tax 05:35 now obviously sometimes counties and/or 05:40 cities or you know other other 05:46 governments will implement an additional 05:49 sales tax you know to pay for schools to 05:53 pay for new arenas to pay for whatever 05:57 it is so when they do that when you 06:00 start stacking sales tax rates that’s 06:03 when you’ve got a combined rate okay 06:06 what I would suggest doing until they 06:08 get to a little wizard back up and 06:10 running if they do is to go to this 06:14 address right here sales tax states calm 06:17 and that’s an easy way to look up what 06:21 the sales tax rate is in a specific area 06:23 but I would definitely double check that 06:25 against the appropriate State Department 06:29 of Revenue website just to confirm it 06:35 so once you have it entered if you want 06:39 to edit mention go to edit sales tax 06:46 settings here and this isn’t editing 06:50 being sales tax for one of the 06:54 government entities attended earlier 06:57 this is more general settings you know 07:00 as you can see do you charge sales tax 07:02 where your default sales tax is and 07:05 whether you want to make all new 07:08 customers taxable or and/or all new 07:11 products and services taxable so there’s 07:13 more general settings not the specific 07:16 settings those would be edited here of 07:18 course where you would click on the 07:21 relevant government entity and click 07:24 Edit there you can change the rate 07:37 oops what did you do there I don’t know 07:42 what happened get back on track here 07:59 a little bit more about those general 08:06 options that you can edit you know it 08:09 asked do you charge sales tax if you 08:13 sell physical goods typically the answer 08:15 is gonna be yes again the old with the 08:20 old way it used to walk you through 08:22 where you could kind of I don’t know it 08:28 gave me more guidance on what was 08:31 taxable and how much based off your 08:32 locality and everything it just doesn’t 08:34 seem to do that now but so typically the 08:37 answer is gonna be yes but it’s 08:39 complicated topic so make sure you do 08:40 your research you pick a default sales 08:44 tax that’s a drop-down like I showed you 08:47 from previously entered agencies and 08:49 then make all new customer product 08:52 services taxable depends on the nature 08:54 of your business 08:55 but I would imagine that would typically 08:56 be checked also okay so a little bit 09:02 more about tax categories for products 09:04 and services again that sales products 09:06 and services then you want to add it for 09:08 a specific product or service 09:27 so the sales tax category like I said 09:31 it’s a drop-down you can choose either 09:33 taxable standard rate non-taxable or 09:36 choose a special category if you’re 09:38 unsure you might take a look at special 09:40 categories to make sure this particular 09:43 product or service doesn’t fall under 09:45 one of those let’s take a look at that 09:48 here and this is what I was talking 09:55 about how it’ll kind of walk you through 09:57 a little bit as far as different 10:00 products and services are concerned so 10:02 if you were in the business of 10:05 professional services 10:06 you know you might click that look and 10:10 see it’ll narrow it down if your 10:13 services say photographer fall under 10:18 this category you know again you keep 10:22 narrowing it down and check the button 10:26 click the button and hit done and it’ll 10:31 apply the appropriate sales tax given 10:36 your locality like I said and a 10:40 particular product or service if you 10:45 can’t find that particular product or 10:49 service in that special category list 10:52 then just go ahead and click taxable 10:55 standard rate unless you’re certain it’s 10:58 non-taxable I used to be able to check 11:05 the sales tax calculation by looking at 11:10 sales receipt and invoices again as far 11:13 as I can tell that’s no longer an option 11:17 like if we go to all sales here sales 11:21 all sales select receipt or invoice 11:23 click on the sales tax link it used to 11:26 be where sales tax was calculated you 11:30 know it was clickable kind of hyperlink 11:33 in the bottom right and then you could 11:35 viewer edit the sales tax calculation 11:37 from 11:38 there now if we look at for instance an 11:55 open invoice that depends in part what’s 12:03 on the invoice course it’s all 12:06 non-taxable services then if something’s 12:12 not quite right 12:13 no kiddin I see we can click on another 12:17 one here I’m good 12:31 and this one doesn’t have sales tax that 12:37 was a payment though we tried one more 12:40 invoice yeah all right so anyhow like I 12:51 said it used to 12:53 obviously the functionalities gotten a 12:55 lot worse yeah that’s the way it used to 13:00 work it could be that they bring that 13:01 functionality back but the time being as 13:05 far as I can tell it’s gone the sales 13:09 tax enter the old way again and the left 13:12 menu you go to taxes and then sales tax 13:17 in some instances if you do payroll you 13:22 might see payroll taxes as a tab or a 13:30 sub option there but in this case the 13:34 sample companies and set up that way and 13:37 if it were I’m not sure if it would be 13:40 there the way the way things have gone 13:44 with these changes anyhow it did there 13:51 were a bunch of they call them cards or 13:55 whatever across the screen there where 13:57 you know they were kind of graphical and 14:01 easy to navigate like sales tax to was 14:04 their tax break down it showed you that 14:08 you know what you keep an eye on what 14:11 the sales tax do what you had accrued to 14:15 be owing all the agencies in terms of 14:19 set in terms of sales tax and tax break 14:21 down which was kind of the main area of 14:24 the screen it had sales tax amounts and 14:27 what was due this month what was 14:28 upcoming was overdue a lot of great 14:29 information then you had a opportunity 14:37 to view your return which was again 14:39 based on what it hadn’t already been 14:40 entered into QuickBooks Online when it 14:43 was time to pay 14:44 typically that was done on the say 14:47 States website where you would file that 14:49 return but you know it was all prepared 14:53 for him and it would also then record 14:56 the payment quickbooks online when you 14:57 click the record payment button finally 15:00 ur is history in the sales tax settings 15:02 sales tax settings that they do still 15:05 have where you can view at it mentor 15:06 agencies history that’s that the 15:11 comparable thing now is the the sales 15:15 tax liability report and you can view 15:19 previously paid or filed returns so the 15:23 old sales tax center had a lot of great 15:24 information now not as much I mean some 15:29 should does show what you oh here on the 15:31 main screen depending on breaks it down 15:36 by agency and that but it seemed to me a 15:41 lot more user-friendly previously there 15:47 were also the reports in the upper right 15:48 and sales tax liability report which 15:50 still has and taxable customer report 15:53 which might exist in reports now I feel 15:58 like it does let’s take a look here and 16:05 there were also shortcuts in a sales tax 16:07 center on the right side that navigate 16:10 to all the areas that fed into sales tax 16:12 calculation so you could jump straight 16:14 to him from there which was also handy 16:17 now you basically got I can mention the 16:22 sales tax owed that’s the main screen in 16:25 the sales tax center and the sales tax 16:29 liability report kind of your two 16:31 options and still-living talked a little 16:39 bit about the sales tax liability report 16:41 earlier and you select the appropriate 16:42 report period in tax agency and click 16:46 the run report button still loading 16:54 so that basically covers everything look 16:59 I know that was kind of a not the best 17:03 video ever I would love to give you more 17:10 up-to-date information but like I said 17:12 it seems like it’s in kind of in flux 17:14 for the time being so that is what it is 17:17 and I can always record a new video if I 17:20 have to in the future but so I don’t 17:25 know if you run into similar 17:26 circumstances then I did you saw me 17:28 struggling here and everything’s changed 17:30 where it’s located frankly it’s not as 17:33 not as robust as it used to be you know 17:38 and it can be a pain in the butt to deal 17:41 with so you know you’ve got a business 17:44 to run you’ve got sales that need to be 17:46 made and if you don’t have time to DIY 17:49 your bookkeeping you should check out 17:51 bots keeper what it is is a in essence 17:55 it’s a AI based bookkeeping but with a 17:58 human element to kind of qualifying 18:02 things you might say so a lot of the 18:05 tasks that you had to do are automated 18:07 and again you can work more on your 18:09 business you can work on bringing in 18:10 more sales and worry less about data 18:13 entry and worry less about slow internet 18:16 connections and fumbling around with 18:20 backwards changes they’ve made to 18:22 QuickBooks so there’s a link for that 18:25 down in the description if you want to 18:27 check that out and that’s all there is 18:30 so you know I still tried to make even 18:34 though things were a little wacky tried 18:36 to make this video quick into the point 18:38 upfront to get your answers and then if 18:41 you wanted to get into more detail you 18:43 know I tried to do that to try to give 18:45 you as much information as possible give 18:47 you this slides to reference and if that 18:50 worked for him 18:51 I would appreciate a like and if you 18:54 find yourself looking up topics on 18:57 QuickBooks Online fairly frequently and 19:00 want to skip searchbar in the future and 19:04 just check out my channel I 19:07 have posted and will continue to post 19:09 more videos if you subscribe you can do 19:13 that and yeah thanks for watching 19:15 take care
00:01 getting bank transactions into 00:03 QuickBooks Online there are two basic 00:08 ways to do this and the first is to set 00:11 up a bank feed which is connecting your 00:14 bank with QuickBooks Online so that 00:17 transactions automatically come in and 00:21 you do that by going to banking on the 00:25 left hand menu the banking tab and then 00:28 Add Account you’ll search for your bank 00:33 or credit card here and once you find it 00:38 you follow the steps signing into your 00:41 with your bank information and do that 00:46 to could finish the connection and 00:49 that’ll bring in depending on your bank 00:53 anywhere from like 30 to 90 days maybe 00:57 more transactions the other way to do it 01:02 is to manually upload transactions and 01:05 that’s done by going to the same area 01:08 banking banking and then on the Update 01:12 button here the drop down menu click 01:15 that and do file upload so that’s a 01:21 quick answer we can get into a little 01:23 more detail here bank feeds are links 01:28 like I said between your bank and credit 01:30 card accounts and the transactions are 01:34 fed into QuickBooks Online Banking 01:36 Center and that makes it easier to match 01:41 transactions to reconcile your accounts 01:44 in essence between what happens at your 01:46 bank and what you have entered into 01:48 QuickBooks Online so to connect bank 01:53 feeds like I said left-hand menu 01:55 banking Center if this is your first 01:58 time if you haven’t connected any 02:01 accounts yet you’ll select a button that 02:03 says connect otherwise like in a sample 02:07 cup in here they’ve already connected 02:09 accounts so 02:11 in this case we click Add Account as I 02:14 mentioned and like I can’t afford that 02:17 lien you walk you through every single 02:19 step because of the nature of what we’re 02:24 doing here I can’t really connect the 02:26 bank account with this sample account 02:27 company and obviously making accounts a 02:31 little sensitive and not the sort of 02:33 thing you want to accidentally put 02:37 something out there that would you know 02:39 compromise like my bank account on 02:44 YouTube so I wish I could provide a 02:47 little more step-by-step detail but I’ve 02:50 tried to do as much as I can here so as 02:54 I mentioned when you click Add Account 02:57 you’ll select find your bank you’ll in 03:03 most cases you should be able to find 03:05 your bank and should be able to make a 03:06 connection it should be rare that you’re 03:09 not able to and once you enter your 03:13 login information for the bank or credit 03:15 card then you’re gonna choose the 03:17 appropriate account that you want to 03:21 link it to in quickbooks online choose 03:26 the appropriate account rather from your 03:27 bank or credit card and then you’re 03:30 going to choose the account and 03:32 quickbooks online to link it to you’re 03:34 gonna give the account a name and you’ll 03:37 click save’ and that’s how you set up 03:39 the bank feed so as i mentioned also you 03:45 know it depends how much history is 03:47 gonna be brought in from your bank or 03:49 credit card company could be as little 03:51 as 30 days could be up to around two 03:53 years obviously it’s zero days if your 03:57 bank or credit card won’t connect 03:59 quickbooks online so if you want more 04:02 history than that and particularly if 04:04 your bank or credit card won’t connect 04:06 what do you do you have to manually 04:09 upload transactions so when you do that 04:16 there a couple things to keep in mind 04:17 you’re gonna want to first settle on a 04:19 date range because you don’t want to 04:21 import upload transactions rather 04:24 that are already in QuickBooks Online 04:27 because then you’re gonna have duplicate 04:28 transactions so first thing you want to 04:32 do is go to chart of accounts and then 04:35 view register let’s back out of this and 04:41 do just that 04:42 that’s accounting and then chart of 04:43 accounts accounting in the left hand 04:46 menu and if you come down to try to 04:57 accounts you see your checking savings 04:59 whatever account it is you want to 05:01 import transactions into you come over 05:03 to the right hand side here the action 05:05 column and click on view register scroll 05:20 to the bottom of this information and 05:26 you can see the first date for that you 05:32 have the opening balance ok so typically 05:35 what you’re going to want to do is 05:36 upload transactions that occurred before 05:41 before that date of your opening balance 05:43 if you want more of a history in 05:46 QuickBooks Online and so now that you’ve 05:51 got an idea of the date range that you 05:52 need you’re gonna go to your bank or 05:55 credit card online log in and download 05:59 transactions that’s of course going to 06:01 be different for every bank or credit 06:05 card company out there though typically 06:09 the you know it’ll be roughly roughly 06:14 the same it shouldn’t be too hard to 06:15 find you want to make sure that the file 06:18 is in the correct format when you 06:19 download it and particularly so it’s in 06:22 the Clark correct format to upload into 06:26 quickbooks online preferred formats are 06:30 CSV click QBO that’s d preferred 06:36 format qfx and the file size can’t 06:40 exceed 350 kilobytes which shouldn’t be 06:44 a problem 06:45 that would be quite a bit of history 06:48 then you’re going to navigate to the 06:51 appropriate link as I mentioned that’s 06:54 back in banking and file upload or I’m 07:18 sorry I got a little ahead of myself 07:18 there you want to make sure you choose 07:22 the account that you want to upload to 07:26 so by clicking these like Co it’s got to 07:30 go back here now checking savings 07:34 account and that so you would select the 07:37 appropriate account first then you would 07:40 do file upload here’s a couple 07:50 screenshots from my bank you know to 07:54 kind of give you an idea of what you 07:55 might look for when you’re downloading 07:57 transactions from from your bank you 08:01 know in this case it’s under accounts on 08:05 a menu and there’s a specific place 08:07 they’re designated to download 08:09 transactions you know you pick the 08:12 account you want to download from you 08:14 select your date range and you select 08:16 your final type and then you’ll get 08:22 something like this that’ll you can view 08:25 in Excel and you know then it should be 08:30 ready to be uploaded so it’s beginning 08:36 upload you’re gonna come to 08:40 the screen that was that earlier and 08:44 again I can’t walk you through this 08:46 completely but you’re gonna get the 08:49 browse for the file to upload and in 08:58 this case yeah it won’t let me don’t 09:01 have a final it won’t let me do it but 09:03 you’ll select that file and it’ll walk 09:06 you through the steps they’re basically 09:11 two to getting that information uploaded 09:14 into quickbooks online so you select the 09:19 account that you want to upload to 09:21 double check that and you want to it’ll 09:27 match it’ll make sure everything’s 09:28 mapped correctly that it’s putting you 09:31 know credits into credit call and debits 09:32 in the debit column etc and you want to 09:38 match those columns make sure the same 09:41 and they’ll give you one last chance to 09:42 edit the information that you’re 09:44 uploading and then you’ll select let’s 09:46 go and so once you get those uploaded 09:49 into quickbooks online you’ll want to 09:52 categorize the transactions and that’s 09:57 basically will be down here in this 10:00 column and the savings isn’t a good 10:03 example look at the checking here see 10:09 some of them are uncharacterized income 10:13 you’ll want to make sure every single 10:15 one of those transactions is in the 10:19 correct category quickbooks online i 10:23 don’t know specifically what they mean 10:25 by this but they say until you do this 10:26 the transactions will not quote unquote 10:28 fully be in your account then once 10:32 everything is categorized you might want 10:36 to reconcile the transactions it’s not 10:39 completely necessary but QuickBooks 10:42 advises that you do that and you may 10:44 need to edit your opening balance if 10:46 you’re uploading transactions that took 10:48 place before the eyes update 10:53 so the simplest thing to do course is to 10:57 connect that bank feed but there might 11:01 be circumstances where you want more 11:03 information than can be provided in that 11:05 bank feed so you know you you’ll upload 11:10 transactions if you don’t have time to 11:14 do it yourself with bookkeeping isn’t 11:17 your thing 11:17 check out bot keeper I’ll have a link 11:20 down in the description of this video 11:22 and basically what ba keeper does is 11:26 mixes a I you know automation with a 11:31 human element to do your bookkeeping for 11:33 you and allows you to work more on your 11:36 business particularly work more on sales 11:39 and then bookkeeping itself and as I 11:43 mentioned there’s a link to that down in 11:44 description so that’s all I got for 11:47 getting bank transactions into 11:50 QuickBooks Online if you thought this 11:53 video was you know like a quick answer 11:56 to shorten to the point answer but also 11:58 the detail that I went into and that let 12:02 me know by giving me a like please and 12:05 if you have another they find yourself 12:08 looking up information about QuickBooks 12:10 Online frequently and I think you might 12:13 need to find out find more how-to videos 12:16 in the future or subscribe
00:00 adding vendors and QuickBooks Online the 00:05 quick way or the quick explanation is to 00:08 simply go to expenses and quickbooks 00:11 online and click on benders and click 00:15 the new vendor button the green one on 00:18 the upper right enter as much 00:20 information as possible about the vendor 00:23 save and the new vendor should appear a 00:28 new list below if you need to enter a 00:30 lot of new vendors and then you’ll 00:32 probably want to import their 00:34 information you do that by clicking the 00:35 little drop down arrow behind new 00:37 vendors and click import vendors you’ll 00:43 be taken to this screen where you can 00:47 browse for your list your Excel document 00:54 with the vendors and click Next 00:58 map your fields and make sure what your 01:01 fields are match what QuickBooks expects 01:05 them to be or needs them to be click 01:07 Next give it one last chance to edit 01:10 everything all the different fields and 01:12 click import and that’s the quick answer 01:19 so now we can talk about adding vendors 01:22 a little more in-depth okay so there’s 01:24 two basic reasons that you would want to 01:28 add vendors to quickbooks online and the 01:32 first is because you want to save time 01:34 entering the information about vendors 01:36 on purchase forms if you have vendors 01:40 saved and then you can just choose them 01:42 from a drop-down menu all the 01:43 information you entered on that vendor 01:45 information screen will automatically 01:47 populate things like address terms those 01:51 sorts of things so it’ll save you time 01:53 second of all it gives you an 01:56 opportunity to run reports about your 01:58 vendors and for instance how much you 02:00 spent on each individual vendor so I’m 02:06 going little more in depth in that 02:07 adding vendors here and we’ll start on 02:10 adding individual vendors and like I 02:15 said and the first step is course to 02:17 navigate to the a vendor screen which is 02:21 lucking menu expenses vendors and then 02:23 click new bedroom like i said when the 02:27 new vendors added a little show up from 02:29 the list below so as I said expenses 02:34 vendors click that new vendor you’ll get 02:40 the vendor information screen here and 02:45 watching far ok so most of these fields 02:50 are pretty self-explanatory yeah first 02:54 fields company 02:55 now if the year leonard is an individual 02:57 not a company can understand last name 03:00 here these fields here or more if you 03:04 had like a contact maybe a sales person 03:09 or something at the vendor company but 03:14 if it’s just an individual their first 03:16 and last name camera display name as 03:19 this is where you can change if you the 03:24 way it’s displayed if you wanted to 03:25 display do something different from the 03:27 company you can specify that there the 03:31 print uncheck as option allows you to 03:35 change how the name will be displayed 03:41 the vendors name on the checks issued to 03:45 them for payment if you want that to be 03:48 something different besides the company 03:49 name specify that here address obviously 03:54 pretty self explanatory notes ok this is 04:00 information that you can enter about the 04:02 vendor that will only be seen by people 04:03 in your company so the vendor won’t see 04:08 this and you know you can enter any 04:12 anything that you feel is appropriate or 04:15 that somebody who’s working with your 04:18 books might need to know or need a 04:21 reference about this 04:22 vendor attachment says is where you can 04:27 attach files is such as maybe you know a 04:32 PDF of a w-9 or contracts or anything 04:35 else that’s specifically this vendor and 04:39 so you want to be able to readily find 04:46 let’s see information and an email phone 04:54 number fax number 04:55 oh that website self-explanatory 04:59 then we got a couple of fields here on 05:01 this screen you only see billing rate in 05:05 other instances you might see cost great 05:07 information about DS was a little tough 05:12 to come by but here’s my interpretation 05:16 first of all the billing rate this is 05:19 that the vendor provides a service so an 05:21 example might be a lawyer okay in that 05:26 case you know they build my day an hour 05:27 so you would enter whatever that rate 05:29 may be $100 $200 $300 05:33 whatever the cost rate will only appear 05:40 I think if you have activated projects 05:45 for your company okay and then if the 05:49 vendor is a contractor 05:52 so again information is a little hard to 05:56 find on that but you know it’s only a 06:00 field that will be used under certain 06:03 circumstances terms it’s pretty 06:08 straightforward 06:08 these are the default payment terms the 06:11 defender has you can always change these 06:14 you know when you enter on the purchase 06:19 form to what the actual terms are but if 06:24 they’re gonna consistently give you the 06:26 same terms then you can you know have 06:31 this information populate automatically 06:34 opening balance 06:36 in the answer of date for that opening 06:37 balance they’re usually gonna be left 06:40 blank QuickBooks recommends that you 06:43 leave it blank because there will be no 06:47 details about the balance captured no 06:50 transactions that will add up to equal 06:54 that balance if you do enter them out 06:56 here it’s going to increase your 06:58 accounts payable and decrease your 07:03 opening balance equity okay so keep that 07:08 in mind if the you’re bringing in an 07:11 opening balance QuickBooks recommends 07:13 you know entering the transactions and 07:18 creating a balance that way we can 07:23 outnumber ok so this is the lenders 07:26 number for your business and apostrophe 07:31 in their vendors number for your 07:34 business I know show up as a memo on the 07:37 check so this isn’t your number for the 07:40 vendors the vendors number for you ok 07:44 business ID numbers of being the 07:47 employment identification number or 07:50 social security number and that is used 07:52 when you create a 1099 for this vendor 07:55 if you create a 1099 if you do plan on 07:58 creating a 1099 you’ll want to check 08:01 this track payments for 1099 bucks ok 08:05 because that will make sure those 08:09 vendors included when you run the 1099 08:11 wizard as a rule of thumb if you know 08:15 maybe you know intuitively this is a ten 08:18 and a nine vendor maybe now I’m new to 08:20 this and the rule of thumb for issuing a 08:24 1099 is when you’re purchasing services 08:27 from this particular vendor and if 08:31 they’re unincorporated okay if they meet 08:35 both those check both those boxes then 08:38 you’re probably going to be issuing a 08:39 1099 08:42 so let’s look at the second method of 08:48 creating new vendors and it’s importing 08:50 a vendor list and again to do that it’s 08:57 this new tender button except you’re 08:59 gonna click the little drop down arrow 09:01 you can select the import vendors okay 09:07 what I recommend you do before you make 09:12 up this list and Excel of your vendors 09:16 and all their information is to download 09:17 this sample file click here and then 09:20 you’re gonna get a sample file that 09:22 looks something like this and the reason 09:24 I recommend that is because all of your 09:27 fields are going to be laid out for you 09:29 here okay it’s basically a template for 09:32 your upload and that’ll just make the 09:35 process of uploading this information 09:38 that much easier so you’ll get a file 09:40 that looks like this you want to go 09:42 through select all this dummy 09:46 information so to speak and delete it 09:51 okay and then re-enter the information 09:55 about your particular vendors once 10:01 you’ve done that and save it you can 10:03 browse for that file select it and click 10:12 next thing so then it’s gonna come to 10:16 this map data step and you know you’re 10:21 gonna compare your fields to the 10:24 quickbooks online fields make sure the 10:26 same in most cases usually quickbooks 10:29 online smart enough to know what’s what 10:32 but just make sure you don’t have a fax 10:34 number going to a phone number 10:37 you know something else you know the 10:41 field one of your fields going to the 10:44 wrong field in quickbooks online if you 10:47 okay with all of that click Next then 10:51 you better the import step this is one 10:53 last chance to edit 10:54 any of this information for all your 10:57 different vendors see for instance down 10:59 here we’ve got this note that was 11:04 included as a vendor okay so we would 11:06 just check that to not include it and in 11:11 this case we should be good to go click 11:16 import it’ll tell you how many total 11:21 were successfully imported and you’ll 11:24 see them all down here in your then the 11:27 list thing so that is it those are the 11:36 two main ways to and offenders the 11:39 quickbooks online and if you don’t have 11:45 time to DIY your bookkeeping you know 11:49 and maybe you don’t enjoy the 11:52 bookkeeping aspect a lot of people don’t 11:54 maybe you’d like to work more on your 11:56 business more than data entry work on 12:01 increasing sales you know helping your 12:05 business grow and less time on 12:09 bookkeeping and then take a look at ba 12:12 keeper that ba keeper this company i 12:16 found apparently to google back start up 12:19 and day what it does is uses AI they had 12:27 a lot of the bookkeeping and then uses 12:31 your people to kind of where necessary i 12:36 guess is the way they put it you know 12:41 with my understanding is you can take as 12:43 much control or as little as you won 12:45 over it 12:45 because what you have ba keeper do for 12:48 you and i know that it also ties in with 12:51 quickbooks online so if you like to 12:53 quickbooks online interface and i want 12:56 to be able to run reports or are used to 12:58 it or that 12:59 you know again you can use Bakke burn to 13:03 handle some of the things that can be 13:06 easily automated the the menial 13:09 transactions so to speak so there is a 13:13 link for that down in the description to 13:17 learn more from what I looked up about 13:20 the company it’s really well reviewed on 13:22 kaptara and other sites so if your book 13:26 he was driving you crazy you might check 13:28 that out anyhow if you thought this 13:32 video was a fairly short and to the 13:34 point but detail enough to give you 13:36 information that you needed give it a 13:38 like and if you’d like to not worry 13:44 about searching around on other 13:47 quickbooks online topics and like save 13:50 time you can subscribe click on my 13:52 channel I’ll have other QuickBooks 13:55 Online videos up and hopefully
