Book Image

Mastering QuickBooks 2022 - Third Edition

By : Crystalynn Shelton
Book Image

Mastering QuickBooks 2022 - Third Edition

By: Crystalynn Shelton

Overview of this book

Whether you have bookkeeping experience or not, handling the financial side of your growing business requires expertise. With Mastering QuickBooks® 2022, Third Edition, you’ll learn how to use QuickBooks® to build the perfect budget, simplify tax return preparation, manage inventory, track job costs, generate income statements and financial reports, and perform all accounting-related tasks with ease. Throughout the book, you’ll be guided by an experienced Certified Public Accountant and Advanced Certified QuickBooks ProAdvisor – from setup to core features and beyond. This new edition has every chapter revised to cover a range of new features and updates available, including smart invoicing and cash flow projections. You'll learn how to create multilingual invoices, track mileage, work with a cash flow dashboard that helps you with cash forecasting and planning reports, and upload batches of bills and checks. This book will also teach you how to manage sales tax, including how to set up, collect, track, pay, and report sales tax payments. In addition to this, you’ll explore how to export reports to Google Sheets, use the custom chart builder, import budgets, and perform smart reporting. By the end of this book, you'll be well-versed with QuickBooks and have the confidence to manage all your bookkeeping tasks with ease.
Table of Contents (27 chapters)
Free Chapter
1
Section 1: Setting Up Your Company File
8
Section 2: Recording Transactions in QuickBooks Online
13
Section 3: Generating Reports in QuickBooks Online
18
Section 4: Managing Employees and Contractors
21
Section 5: Closing the Books and Handling Special Transactions
24
Other Books You May Enjoy
25
Index

Recording Expenses in QuickBooks Online

QBCU
3.3.1
3.3.4
3.3.6

Managing expenses incurred by a business is one of the primary reasons why many businesses decide to use QuickBooks. Most businesses know when they are generating income, but when it comes to where their money is going, it’s a whole different story. For a business to be profitable, it must be able to control expenses that directly affect the bottom line.

QBCU
3.3.2

In this chapter, we will show you four ways to record expenses (also known as money-out transactions): (1) entering and paying bills, (2) managing recurring expenses, (3) writing and printing checks, and (4) capturing and categorizing receipts and bills.

QBCU
3.3.3

Entering a bill is ideal for suppliers who have extended credit to you. You receive your purchases immediately and payment is due sometime in the future. However, expenses that require immediate payment should...