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
Vendor and Expenses Reports

Having access to reports that will give you a detailed insight into what your expenses are, who you are paying, and the amount paid to each vendor will help you to control expenses and maintain a profitable business. There are a number of reports in QuickBooks Online (QBO) that will give you insight into the money you owe to vendor suppliers and other creditors. 

We will dive into the information you can expect to find on each report, how to customize the report, and how to generate reports. We will also discuss ways you can use reports to help you manage your expenses and cash flow. I recommend you run these reports and review them on a weekly basis. Having access to this information will help you to manage your cash flow and stay on top of the money that goes out of your business.

In this chapter, we will focus on the following key reports:

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