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

General tips for daily use

QuickBooks Online offers various features that can help simplify bookkeeping, and some of these are hidden. Let's take a look at a few quick tips that can be used daily when using QuickBooks:

  • Merging accounts
  • Date shortcuts
  • The calculator function
  • The advanced search
  • Duplicating the tab of your browser
  • Other shortcuts

Merging accounts

Occasionally, two different list names may be created and both contain records. However, where two currently exist, there should only be one. Where the list name is used, this refers to any of the following:

  • Customers
  • Suppliers
  • Chart of account categories
  • Products/services
  • Classes and locations

Let's say that, within our supplier list, two suppliers have been created with slightly different names, the first being Intuit and the other being Intuit QuickBooks.

This sort of duplication is common and can lead to entries being made against both suppliers...