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

Functionality not available in QuickBooks Online

QuickBooks Online does not include the ability to create sales orders, manage fixed assets, create price levels, or generate an estimate for actual reporting. Therefore, we do not recommend you convert from QuickBooks Desktop to QuickBooks Online if you need the following features:

  • Sales orders: A form used to record and track customer orders. A sales order will commit the quantity ordered or trigger a backorder if the product is out of stock.
  • Fixed asset tracking with Fixed Asset Manager: Fixed asset tracking includes keeping track of the cost of fixed assets purchased, calculating depreciation and the current value of assets.
  • Price rules: Price rules allow you to provide discounts for specific products to certain customers for a specified amount of time. 

If you currently use these features in QuickBooks Desktop, you should either find a workaround in QBO or postpone converting over to QBO if they are critical to your...