Quickbooks Basics: How To Use Quickbooks Online
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- เผยแพร่เมื่อ 31 พ.ค. 2024
- Need to get QBO set up for your business? Save money & grab a 12 month discount here: claracfo.com/QBO
*** IMPORTANT *** to get the 30% discount after the trial period, you MUST input your credit card information into the system before the trial period ends. You will lose your discount if you do not do this. If you lost your discount, email us at hello@claracfo.com and tell us the email you used to sign up, and we can get the discount applied manually.
Get the QBO Optimization Checklist Here: claracfo.podia.com/qbo-optimi...
Quickbooks Online (or "QBO") is one of the most widely used accounting systems for small businesses. And for good reason: they have been in the game, focused on small business for a LONG time.
This video covered QBO basics:
- What is QBO?
- What is the point of an accounting system?
- What can it do for your small business?
- What functions does the platform have?
- What version could be best for you?
- What you need to focus on to ensure quality financial information?
Also, stay tuned for a whole "How to do stuff in QBO" series from Hannah Smolinski, CPA, and small business CFO.
Find more resources for your small business HERE: learn.claracfo.com/
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💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a discounted subscription for 12 months! claracfo.com/QBO
🙋♀Got Employees? Need a payroll company that knows what small businesses need? We recommend Gusto as the best small business payroll provider. Sign up for $100 gift card after you run your first payroll: claracfo.com/gusto
💸Pay vendors any way they want and get paid faster! Accept credit cards without paying merchant fees! Melio is a fantastic payments solution for every small business! claracfo.com/melio
(As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)
Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
**** IMPORTANT **** to get the 30% discount after the trial period, you MUST input your credit card information into the system before the trial period ends. You will lose your discount if you do not do this. If you lost your discount, email us at hello@claracfo.com and tell us the email you used to sign up, and we can get the discount applied manually. Get the discount HERE >>>> claracfo.com/QBO
I signed up for starter yesterday before this video. Can I upgrade to essentials with your discount? Thank you for the video!!
I have the same question 😅 I signed up before running into your video
Hello. Does this discount work for Canadians as well?
@@ksenlf4558this is a US-only discount - I am sorry! you can try it, but I've been told it's only US. I wish I could get them to extend the discount to everyone!
You take a long time to get to the learning. Shorter intro would be appreciated.
You may appreciate this one: th-cam.com/video/ewI_X5M_Awg/w-d-xo.html
Exactly what I was going to say
i appreciate the intro. lets me know whats up before i commit! thank you for taking the time to provide this complimentary info on your time🦋
It wasn't THAT long 😂 or maybe you should have some patience lol
You can use the ff button you know.
Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.
This was a great starter video. Appreciate your time and style of presenting!
Thanks so much!
Thank you so much for this. I just obtained QB, and your video and presentation skills are just what I needed. Thank you!!! Subscribed!!
Thanks for being here! Glad I could help!
Hi Clara, i get cleared about QuickBooks by your excellent explanation, i am working as an accountant from Tamilnadu, Chennai. Thank you
I wish to learn about the QBO as I have accounting and auditing background. The little I have read about the QBO indicates that with it can be used for basic bookkeeping and accounting records for businesses and organizations. With dedication, I can go through the tutorials and acquaint myself with the tenets of the QBO.
I enjoyed your video with the brief explanation of how qb works. I have never used qb since I have always worked in large organizations and used JD Edwars, PeachTree, Basic 4... we are going way back but JDE was the most recent. I'm not an accountant but had experienced with A/R, A/P, Billing, and payroll. I'm hoping to take a course online to do booking at home. What online course do you recommend? Thank you.
Hello Clara. Would love to know how to avoid duplications. I had a ton of duplicated payments and receivables this year when I reconciled.Thank you
Hi Clara, thanks for this. I'd love to see a video on how to make the expense and other categories in Quickbooks work well for you. What are good categories to add? I saw on another video you mentioned "owner's draw". That's great, I've made these mistakes too. Thanks again!
Hi Kim! Our video this week sounds like what you are asking for! Make sure you are subscribed and getting notifications! We post on Thursdays 🙌
I enjoyed your video with the brief explanation .
Thank you so much, Clara! Very helpful :)
Great! if you are looking for the setup video, here you go! th-cam.com/video/hyWnHBtRB_4/w-d-xo.html
This has been really helpful! Thanks!
So glad! Thanks for watching Tracy!!!
Hi Hannah - Great content as always! Keep up the great work.
Thanks so much!
Thank you for posting this video. My QuickBook skills are very rusty.
Hi Ms.Clara.this is the account that we will be handling soon.Our introduction for the whole week just ended yesterday.I want to dig down more about Quickbooks and Quickbooks Premiere.This is crucial for a shifter like me.I don't have knowledge about accounting so I could really use your help.This is nerve racking experience to be honest.
Hi there! Make sure you watch this one: th-cam.com/video/ewI_X5M_Awg/w-d-xo.html
Do you have a video on how to use it alongside square ? We use square to collect payments. We are an alarm company and we send out lots of estimates and invoices, but our customers will be monthly paying customers. Im having a hard time figuring out how to manage the square and qb together.
Thank you Clara for this informative video. I am interested in learning about setting up Quickbooks online for E-Commerce, such as Shopify or Amazon FBA. How to set up the accounts? It is very difficult to have each customer information. How to be able to start from zero with a new FBA business. Which accounts? how to name them? etc. I hope you do a video like that because I know there is a tremendous need in such area for people who do not have accounting background but who want to do the right thing from the beginning. Even before starting the actual E-commer business. Thanks again.
Did the math! 30% thanks!
Hi! Thanks for the video. I currently use Desktop to manage a small number of rental properties, and use Clases to track each property separately. I understand I would need Online Plus to have classes - but Online plus is more expensive than Desktop. Would there be another way to manage mutliple rentals in one QB Online account? Thanks!
Thank you!
Hello Clara, I manage an HOA and use QB online. What is the proper way to handle when one of our residents ACH payment or check has been rejected? I have been having to go to the actual deposit in which it was in and delete the deposit and then wait until the bank statement comes and find that reject?
I have always used desktop pro and I need to upgrade this month. I am considering the on line version but I am nervous because it looks different. I am especially concerned about the set up and importing my bank and credit card balances daily. I am the only user. Which plan to I need and is it hard to transfer over? Help!
I would love to see videos on IOLTA (trust accounts) through QBO. I have enjoyed your videos and learning about QB. There is not many that I have found that is easy to follow and explains things. Your videos are very easy to follow which I am great full for.
Such a great intro video! You’re amazing
Aww thanks so much for watching!
I’m a hairdresser and wondered whether there is an inventory control for my retail items and products I use on clients?
I have a small video production company as a side hustle that I want to start looking at with a more professional mindset, so I started a QB account. I need to learn how I should organize my regular job/personal pay etc from my side business expenses. I think I should make all my business expenses a separate vender? But I’m new so I want to start off on the right foot!
Very helpful even I am not involver into posting transactions but to analyse the the business accounting cycle is managing in compliance with to General accounting principles and be ready to audit the transactions following to the company business intentions to exceed customer expectation , Really helpful tool for Project Management planning / budgeting / cost reduction / decisions to be on budget especially for engineering field of operation . Thank you
what would helpful is LESS introduction and more transaction viewing.
Hi... do I have to connect to a bank account in order to use the system? If no bank account is connected to QuickBooks, (maybe just an initial balance) could it be used just to enter paid receipts to get the total of annual expenses? I know it might be a dumb question, but my employee just wants me to enter his expenses for taxes deductions, and other useful information for his accountant. Thank you in advance and great video!!! I am new at this!
Thank you X10🙏🏾 I am a newbie to desiring to use this platform...instant sub and 👍🏾💯‼️
Welcome aboard! happy to help!!!!
I would like to know the steps to take when using quick books from creating the company and chart of accounts
Our small family business currently uses an old version of quicken for bookkeeping. Will it cause any problems if I start doing billing (invoicing) through QBO and move our bookkeeping over later? Thanks!
Thank you. I just want you to know that I appreciate what you are doing.
So nice of you, thank you so much!
Great video!
Thanks Hector 🙌
I loved your video, do you know if the program can be linked to more than one device?
How to set up a restaurant business in Quickbook? Can you make a video sample? Thank you!
Hello there! I'm new to Canada and I've taken some QuickBooks training by watching videos. However, I've noticed that many job positions in bookkeeping require experience, which I don't have. I'm wondering how I can start my career in this field despite my lack of experience. Any advice would be greatly appreciated. Thanks!
I have a question, I received a discounted payoff amount for a note I had. How do I close the note payable account and categorize the discounted amount?
Hi Clara, do you recommend quickbooks for a one person S-corp, small construction business? and with payroll for one person? Thank you for the video. I would like to see the use of quickbooks with a sample construction/remodeling business. Thank you!
Let's get started please
Hi Clara, I am a total newbie. Purchased a piece of property and am thinkinking about starting a LLC to develope townhomes on it. Would you suggest Quickbooks for this? There technically wouldn't be any income until finished project but there would be a lot of upfront expenses.
Can you print checks from the simple quickbooks?
We have 2 small businesses at home and we wanna keep track of all our expenses in different categories with both businesses showing its own expense worksheet. Can you do that in one program or do I have to buy 2 seperate programs for each business? we dont do payroll and this is just to give my tax person all our income form each business and espenses. TY
Hi there, you need to have a separate QBO account for each business. Simple start would be the place I'd start. The time it saves at end of year to not have to pull together all the expenses seems like it would be worth it. If you do end up setting it up, make sure you maintain it - and I show you how to do that here: th-cam.com/video/ewI_X5M_Awg/w-d-xo.html
I'm looking at Essentials plan. Can I have on-line banking with this plan? will it be able to print checks? Can it be used to reconcile bank statements? Can I get 10% off with a one-time payment? Thank you for your help.
Thanks
Hi Clara, you did not mention which version of Online you were reviewing...was it Essential, Plus or Advanced product we were looking at? Thanks.
It's Plus!
How do I change the check numbers and make it count that number towards the next check? When I print a check it always starts with the same number and I have to keep changing it to my check number. Can you tell me how to fix this issue? Thx
I am wondering how you have found quick books online works with a grocery store/ convenience store? We still use a cash register as our POS system.
Right Tools app is a game changer. I didnt like QBO as I came from desktop. After installing Right Tools I like QBO.
I am definitely going to do a video on that too! It’s definitely helpful!
very well done!
Thank you! Cheers!
What happens when the accountant does not pay QBO subscription for 8 months and its now in collections. How does the client transfer billing to themselves to obtain thier records? QBO support is stating that the billing has to be transferred through the accountant to client. Is this the correct process? What happens when the accountant is no longer unreachable? Thanks for feedback in advance!
Must I link a credit note to a sales invoice ? I did not and I was not able to clear the credit note in the customer's records. What can I do now ? Thank you
Hi Clara. Thank you so much for this tutorial. I’m just starting out as a Treasurer for a small church.
Will I just enter numbers passed on to me from prior Treasurer who kept manual records.? Exactly,?where should I begin?
Hi Kim, I'd recommend starting from the beginning of a year. You can retroactively import transactions when you link up the bank feeds - you can set the start date of when you want that information to pull from. Make sure you watch this one: th-cam.com/video/ewI_X5M_Awg/w-d-xo.html
Hi. I have a question? Where is the best clasificación to register the weekly salary as a owner of the company?
Clara...can QB be used for scheduling jobs? Or is there an app that works with QB for that purpose
Awesome! Thank you
Thanks for watching! Be sure to check out the entire playlist to help you setup and optimize! th-cam.com/play/PLUcXTCG4ArAlATaIlyGPM94PEs_icwSFb.html
Does QBO have a program for invoicing and estimating?
I just made up a very basic one in Excel but it is very outdated and doesn't even have a way to look at customers and jobs and estimates with no way of linking this back to the A/P or A/R. Plus the Estimate could have been done last year so it would need to be updated with the current prices) And if we get the job converting the estimate into invoices (sometimes we do partial billing for the larger jobs) So total contract amounts would be helpful too. Then we need to know if the inspection report on the job has been completed to bill the final 10 percent we must hold back. Do you know if QBO can do this? I also made up the Excel A/P and A/R . Which again cannot sort by date customer is listed at the bottom of the workbook but if the customer is not looked up and another is added then it's just a mess over here HELP. Even if you could recommend some system that could do it all....????
Thank you Clara. Thank you so much. Because my wife is a bookkeeper, she has drilled into my head the importance of bookkeeping and I just got my license as a Florida paint contractor. I got my DBA, my EIN number, approval by the construction industry licensing board. I'm waiting my physical license number and need to get insurance and QBO plus. Once all this in place, is there an online QBO class I can or should take? Is there anything you can recommend? I think I may click on the link you have provided since that will save me some money and support your channel. Thank you.
Congrats!
Yes, congrats Jimmy! QBO does have training, but I made this video that should help you as you get started: th-cam.com/video/ewI_X5M_Awg/w-d-xo.html
Will your wife be doing your bookkeeping? If it's not your forte, I'd recommend outsourcing it to her if she is taking new clients :)
Could you do tutorial about catch up and clean up? Thank you, Clara.
Hi Clara, Great job on the videos! Can you run two or three companies with the plus or does each company have to have its own program?
Each company needs its own account. Thanks for asking! Depending on the complexity and needs of the company, you may want to use different levels of the product.
Looking for info on how to register your vermeil to forward to QBO as well as matching
Can QuickBooks work anywhere in the world with regards to the banking transactions? Can it pull from any bank across the world?
Desktop had direct bank link too.
I have a cake production and supply Business. Can this be most suitable to capture my operation from materials purchase through production to supply, including monitoring stock level and cake decoration activities?
Hi there! We'd recommend using an inventory management system that speaks to QBO when you have complex inventory needs. What are you using now to track inventory?
Hi Clara. I am a one man automotive mechanic that is an LLC. I do everything myself. I have some shop supplies on the shelf but nothing more then what I need. I want to be able to go from paper invoices to paperless and by doing that stream lining invoices and being able to do taxes quicker when I file my quarterly sales tax. Which program do I need?
Frank - if you have inventory, I'd recommend Plus for this. QBO is not AMAZING at inventory, but if you are small and can keep track of inventory pretty easily on paper, then QBO would be a major upgrade for you!
Hello, Very informative, but what about inventory?
We started using QBO a couple of months ago when the QBD pgm we were using aged-out. We are having multiple problems related to our retail business. Do you know, are improvements to make it a more usable tool for retail businesses on the horizon?
What kind of problems? Sometimes an app is needed to handle certain needs or a retail business.
@@ClaraCFO Hi Clara: thank you up front for responding to my query.
As a retailer/reseller I use purchase orders a lot - every week we are ordering something. It is not difficult to get to the PO page but I would like to see a botton on the home page as there is in QBD, like there is for invoices, receipts, and estimates.
And speaking of estimates, I am a retailer and almost never have need of estimates. I do, on the other hand, send out quotes and even sales orders quite often. QBO does not give me the option to create quotes and sales orders. It feels really unprofessional to have to explain to my clients in the body of the accompanying email that "this is not really an estimate but a quote. Pay no attention to what it says on the top of the document.
Product records could use a couple of more fields, and the PO template needs to be editable. QBD has fields for the manufacturer's product name and product code. This is missing in QBO, and I sometimes have to change the product name (it might be in a foreign language, e.g.) and often change the code (SKU) to make it fit into our schema. When I create the PO it fills in my name and my SKU, not the vendors, so it can be very confusing for them. I would really like to see a better thought out product record.
And vendor records need some work. There is a field for, I assume, contact name in the record, but when I put a name in that field that name prints on the check, yet my contact may be a sales rep or a project manager. Should definitely not be on the check.
I would also like to create POs and invoices from quotes (estimates). I may be able to do that but I haven't figured it out yet.
I have provided feedback to developers - several times - but haven't heard a thing back from them.
There's more, but for now...
Thank you.
I own a pressure washing business, and I have certain clients that I have on a recurring basis could I for example put something down like “wash Patrick’s patio” for March 29th, and have that same reminder pop up every 6 months does that make sense?
Would love to learn about pulling the donor information to create thank you letters
good morning
How can we set higher keys to process payment in QB? (Payment is processed by Accountant, and it has to be approved by Finance Manager and Partner)
Hi Shanza, for approvals, you will need to use a bill pay app that syncs with QBO to do this. Try bill.com or Melio (www.claracfo.com/melio to learn more)
What qb online option do you suggest for me,
I run an automotive accessory shop. I’m looking to just keep track of expenses and income and do invoices. I also stock new materials monthly
Hi Joey, since you have stock, you will need QB Plus to be able to keep track of inventory and add inventory items to an invoice.
What version are you using in the video? Your menu options look different than mine. I’m using quick books self employed
This is Plus. We don't recommend self employed in general. Have you started using it yet? We'd recommend Simple-start instead. You can't upgrade from Self employed to the other ones, so that's the biggest downside.
do you have a video talking about the pro/cons of business view vs accounting view in the settings? Seems like the menus and layout changes a lot if you switch between them
lol, we have a video coming out in 2 weeks about the view changes and talking through the new customization options!
@@ClaraCFO great, Ill watch for it!
Hi Hannah, does your free 30 days trial and 30% off for one year also apply to QuickBooks Online Canada? Because I can online see US pricing on your landing page. Thank you in advance for your clarification :)
Hi - unfortunately this is a US-only discount :(
Hello Clara, I have been using the desktop of QB and it will no longer be supported (2019), I keep books for myself and my daughter's business and possible for my son's business. If I subscribe to the monthly online service, is the monthly charge for the software or for each company? Meaning will I pay the $25/ month for all 3 businesses?
Hi Connie, you would need a separate QBO subscription for each business. You might look into upgrading your current QB desktop subscription and compare the costs!
Hi, how long does it usually take to physically complete a bookeeping per business ? I’m a single mam looking in to doing this as a career x
Kellie, it totally depends. I'd recommend starting out on hourly billing until you get an idea of how long it takes. Some clients take 20 min, others could be 20 hours (extremely complex though). It depends on complexity of the client, communication with client, and your speed.
It is a great thing to do from home. If you're detail-oriented, it could be a great profession to pursue!
Sending good vibes from another single mom 🙌
I've been trying to find out the fees Quickbooks has charged for every transation over the quarter and I'm stumped!
Hello Clara, I have a question. If you have a control credit card in your business and several others (one for each employee) under that control credit card will connecting your control credit card work just fine? Can you explain in more details? Thank you!
It looks like you can add different cards under banking and label each card with employee name
im not always using QB invoice. how do i link a word doc required by my customer?
Hi Clara
Can I use quickbook to start a payroll business. If yes, what should i do?
Hi, please could you advice how to transfer quickbook online files to turbo tax business. Thanks
I'm new to QBO. My daughter's business would like to add me as a regular user with Admin or user right's. She is licensed for 5 users. We have added as an Admin, however, it will not give me access. It requires I sign in under the Primary Admin account. How can we solve this issue.
How do I set up Classes for each of my services accounts?
How to write a check to vendor paying for several invoices.
Hi Clara, what do you suggest for a company that does all the work before payment, and once the client is satisfied with the platform, it then pays you. but the work is already done.Thank you
Cindy - I would ask if you can change your business model first! this is very risky from a cash flow perspective! Could you at least take a 50% deposit? I would create an invoice for the full amount due at the date work begins, but date it to the due date of the deliverable. Then you would have an accurate idea of what revenue should be coming in AND it will motivate to work to the deadlines.
just switched from desktop to online. After entering sales reciept, how do i record the deposit?
Great video. THANK YOU! I will be upgrading from QBSE to QBO January 1st, 2023. A few questions:
1) Do you have videos on creating a Schedule C, or 1120S using QBO. QBSE spits out a Schedule C and is very easy. Ive heard it called a glorified spread sheet. Ive heard QBO does not BUT that you can use Tax Line Mapping.
2) Does QBO allow miles to be added and a thorough description of miles driven?
Thank you again! Jeff
The profit and loss statement can be used to help you fill out the tax form. Most CPAs/Tax preparers would only need that to do a return. Or a General Ledger from QBO. For mileage, I found this: quickbooks.intuit.com/learn-support/en-us/help-article/track-mileage/automatically-track-mileage-quickbooks-online/L2qPCRGgI_US_en_US I haven't used it though!
Holy smokes! I am 6:30 into the video and haven't learned anything. All I know is that it is your favorite and that you sell it at a discount. I recommend actually teaching it and not disguising an ad.
Hi Rob, thanks for the feedback. A lot of people don't have QB, so buying it is step 1.
I like talking about the discount up front because once you buy, you can't retroactively get a discount. But if my style isn't for you, no worries! Check out Hector Garcia for really detailed tutorials. He's great. Our interview is coming out next week.
Hi Clara, i am helping my son, who has a Solar Panel Cleaning business, get organized. He is the sole "employee". Would the Simple Start be enough for a pretty straight forward one-person business?
Yes that's a good place to start if he's just invoicing clients and doing most of the labor himself.
How do you transfer files from Desktop to online quickbooks
I have a crystal shop on Etsy and use PayPal for all of my inventory coming in. I linked it to quick books but every transaction shows twice, once as expense and again as income. I don’t know if that’s how it should be or I should delete the one that isn’t correct. Hope this makes sense.
I find that the paypal linkage is one of the WORST because of this issue. I end up having most clients not use the linked app. I haven't watched this yet, but I bet Hector has some great solutions here: th-cam.com/video/0kOszL6OKCA/w-d-xo.html
I'd probably recommend having a bookkeeper help sort this out if you aren't comfortable doing it yourself!
We are a legal for, and keep clients funds in the Trust Account until we need to transfer some to a general Account to pay government fees or our legal fees. How do I record a transfer of funds please from one account to the other?
2:21
how can I add add my mileage tracker from my phone to QB online
How do you handle bookkeeping if clients (business owners) don't want to take the time to categorize the transactions for you?
Most bookkeepers categorize transactions for their clients, but are you asking what to do if you don't know what a transaction is for and you need business owner input? I'd recommend making it a clear expectation with clients that their input will be necessary from time to time and also making it very easy for them to respond. Some clients need a quick phone call. They should also be sending receipts....and you can know that way what something is.
@@ClaraCFO Yes, I am a bookkeeper and that has been a point of struggle with some clients.
video starts at 5:50
Is QBO a good fix for running an RV park with 100 plus tenants. Need to keep track of rents (income) and expenses (maintenance, etc). Any suggestions will be greatly appreciated.
QBO can handle the accounting, but you might want to consider something else for invoicing. The reason I say that is that you can send recurring invoices, but sometimes the matching can get complicated with incoming payments. It can definitely be done, but make sure that someone is helping you set up your account and the process to make sure that payments are properly matched to outstanding invoices. I bet it would be a nightmare if payments were improperly matched. You might also want to look into an add-on and see if there's something specifically for rental income like this. I've heard of Appfolio, but I have never used it.
I guess I thought this video was going to be a getting started on how to set up quickbooks. Do you have a video on that?
I do not know how to find purchase orders once I have created it. If I want to find a PO I sent to "xyz" vendor a month ago...how do I find it. Boy I love the old system where you just scroll thru things....
Is there a way to connect your Venmo and Cash App Apps to your Quickbooks accounts?