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)

Overview of the banking center 

The banking center is where you can manage bank and credit card transactions that have been downloaded into QuickBooks from your financial institution. At the very top of the page, you will see tiles that represent bank and credit card accounts you have added to QuickBooks. On each tile, you will find the name of the account, the current balance (per your financial institution), the current balance (per QuickBooks), and the number of transactions that require review before they can be recorded in the QuickBooks check register.

Follow these steps to navigate to the banking center:

  1. Click on the Banking tab, located on the left menu bar, as indicated in the following screenshot:

  1. The banking center will be displayed, as indicated in the following screenshot:

The following is a brief description of the information you will find in the banking...