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

Inactivating vendors in QuickBooks Online

Similar to customers, you can inactivate vendors you no longer do business with. This will maintain your existing vendor transactions that were previously recorded but remove the vendor from the vendor center.

Follow these steps to inactivate vendors in QuickBooks Online:

  1. Navigate to Vendors by clicking on Expenses on the left-hand menu bar and selecting Vendors, as shown in the following screenshot:

  1. Put a checkmark in the box next to the vendor you want to inactivate and select Make inactive, as shown in the following screenshot:

As mentioned previously, you cannot delete vendors but you can inactivate them. When you inactivate a vendor, QuickBooks will preserve the existing historical transactions but remove the vendor from the drop-down list so that it cannot be used in future transactions, such as purchase orders and bills.

To review the information covered in this section, watch this Intuit video tutorial, How to Manage Your Vendors...