Book Image

Mastering QuickBooks 2020

By : Crystalynn Shelton
Book Image

Mastering QuickBooks 2020

By: Crystalynn Shelton

Overview of this book

Intuit QuickBooks is an accounting software package that helps small business owners to manage all their bookkeeping tasks. Its complete range of accounting capabilities, such as tracking income and expenses, managing payroll, simplifying taxes, and accepting online payments, makes QuickBooks software a must-have for business owners and aspiring bookkeepers. This book is a handy guide to using QuickBooks Online to manage accounting tasks and drawing business insights by generating reports easily. Using a fictitious company, the book demonstrates how to create a QuickBooks Online account; customize key settings for a business; manage customers, vendors, and products and services; generate reports; and close the books at the end of the period. QuickBooks records your debits and credits, so you don't need to learn accounting. However, you will find out what happens under the hood and understand how your financial statements are impacted by what you do in QuickBooks. You'll also discover tips, shortcuts, and best practices that will help you save time and become a QuickBooks pro. By the end of this book, you'll have become well-versed with the features of QuickBooks and be able to set up your business and manage all bookkeeping tasks with ease.
Table of Contents (19 chapters)

Company File Setup

In this chapter, we will show you how to create a QuickBooks Online account. We will also show you how to navigate in QuickBooks Online. Using the key information and documents we covered in Chapter 1Getting Started with QuickBooks Online, we will walk through the company settings that allow you to establish how you want to record sales, expenses, payments, and other advanced settings such as a fiscal year and which accounting method to use. It's important to include as much information as possible when performing the initial company file setup before you start entering transactions into QuickBooks. Otherwise, you will be missing key information that should appear on customer invoices, documents, and forms that can be produced in QuickBooks.

In this chapter, we'll cover the following topics:

  • Creating a QuickBooks Online account
  • Navigating in...