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

Expenses settings

The settings in the Expenses section are centered around preferences for managing bills, expenses, and purchase orders. In this section, you will determine what information you want to appear on expense and purchase forms, whether or not you want to track expenses and items by customer, and default payment terms.

The following is a screenshot of the expenses settings:

The following is a brief explanation of what you can find in the expenses settings:

  1. Bills and expenses: This section includes the following three options for tracking expenses:
  • Show Items table on expense and purchase forms: Selecting this box will add a products and services table to your expense and purchase forms so that you can itemize your products and services.
  • Track expenses and items by customer: This feature allows you to tag expenses with a specific customer. This is ideal for reporting purposes if you want to keep track of specific items that have been purchased but aren't...