Book Image

Professional Tips and Workarounds for QuickBooks Online

By : Ashley Beetson
Book Image

Professional Tips and Workarounds for QuickBooks Online

By: Ashley Beetson

Overview of this book

Accountants and bookkeepers can sometimes face challenges while coming up with solutions to help their clients. QuickBooks Online, a popular cloud accounting software, comes with a wide range of tools that can take time to learn. This book will show you how to properly combine the tools available in QuickBooks to get the most out of this software. Complete with step-by-step explanations of essential concepts and practical examples, the book will begin by helping you understand how to create opening balances for a new company. You'll then discover essential bookkeeping and accountancy tips and tricks, and find guidance to help make QuickBooks as easy to use as possible. As you advance, you'll explore different scenarios in which QuickBooks Online can be used for various business types. This will help you understand that not every business is the same, but using the wide range of functionalities QuickBooks Online offers, you can customize solutions to really make it work for you. By the end of this QuickBooks book, you'll have gained deep insights into how you can use QuickBooks Online to work for different business types, and you'll have a complete checklist of the different things you should be doing when you start reviewing accounts ahead of tax season.
Table of Contents (16 chapters)
1
Section 1 – General Tips and Shortcuts
4
Section 2 – Adapting QuickBooks Online to Suit Different Business Types
10
Section 3 – Reviewing and Reporting Data in QuickBooks Online

Section 1 – General Tips and Shortcuts

It's important that a QuickBooks Online company file is set up correctly, reflecting the financial position of an organization at the point that QuickBooks Online was put into use.

Once the initial Opening Balances are in place, review the general setup of the QuickBooks company, ensuring that it contains just the right amount of account categories. Too few, and it can be a struggle to code transactions; too many, and reporting can become a little messy.

As QuickBooks is used each day, there are a few little tips that can generally save time no matter what type of business you have. So, just for starters, we'll advise you of some of those.

This section comprises the following chapters:

  • Chapter 1, Creating and Reviewing Opening Balances in QuickBooks Online
  • Chapter 2, Useful Tips and Tricks Every QuickBooks User Should Know