Book Image

Mastering QuickBooks 2021 - Second Edition

By : Crystalynn Shelton
Book Image

Mastering QuickBooks 2021 - Second Edition

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 independently. This latest edition of Mastering QuickBooks takes you through the range of new features and updates available in QuickBooks Online (QBO). Creating multilingual invoices, tracking mileage, working with a cash flow dashboard that helps you with cash forecasting and planning reports, and uploading a batch of bills and checks are just a few of the new features covered in this edition. As you progress, you’ll learn how to manage sales tax, including how to set up, collect, track, pay, and report sales tax payments. Dedicated sections will also take you through new content focused on the latest features in the QBO line-up, while also showing you the different types of businesses that can benefit from QBO Advanced. In addition to this, you’ll explore how to export reports to Google Sheets, use the custom chart builder, import budgets, perform smart reporting with Fathom, and much more. By the end of this QuickBooks book, you'll be well-versed with the features of QuickBooks and have the confidence to manage all your bookkeeping tasks with ease.
Table of Contents (26 chapters)
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
Recording Expenses in QuickBooks Online

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. In this chapter, we will show you how to enter and pay bills, how to manage recurring expenses, write and print checks, and how to capture and categorize receipts and bills. Using one or more of these methods will give you access to detailed reports that will give you insight into where you are spending your money. This is a key component in having the ability to control expenses.

In this chapter, we will cover the following topics:

  • Entering and paying bills
  • Managing recurring...