Book Image

Mastering QuickBooks 2022 - Third Edition

By : Crystalynn Shelton
Book Image

Mastering QuickBooks 2022 - Third Edition

By: Crystalynn Shelton

Overview of this book

Whether you have bookkeeping experience or not, handling the financial side of your growing business requires expertise. With Mastering QuickBooks® 2022, Third Edition, you’ll learn how to use QuickBooks® to build the perfect budget, simplify tax return preparation, manage inventory, track job costs, generate income statements and financial reports, and perform all accounting-related tasks with ease. Throughout the book, you’ll be guided by an experienced Certified Public Accountant and Advanced Certified QuickBooks ProAdvisor – from setup to core features and beyond. This new edition has every chapter revised to cover a range of new features and updates available, including smart invoicing and cash flow projections. You'll learn how to create multilingual invoices, track mileage, work with a cash flow dashboard that helps you with cash forecasting and planning reports, and upload batches of bills and checks. This book will also teach you how to manage sales tax, including how to set up, collect, track, pay, and report sales tax payments. In addition to this, you’ll explore how to export reports to Google Sheets, use the custom chart builder, import budgets, and perform smart reporting. By the end of this book, you'll be well-versed with QuickBooks and have the confidence to manage all your bookkeeping tasks with ease.
Table of Contents (27 chapters)
Free Chapter
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
24
Other Books You May Enjoy
25
Index

Creating a QuickBooks Online account

The first step to setting up your business in QBO is to create a QBO account.

In this section, we will create a QBO account for Photos by Design, a fictitious business we will use to demonstrate features and explain concepts taught throughout this book. Photos by Design is owned by a sole proprietor who provides photography services for special occasions such as weddings, graduations, and baby showers. Photos by Design is in its first year of business with no employees. However, the owner does hire a few contractors to help meet the demand during the peak months of the year.

To create a QBO account, you need to go to the Intuit website and select a QBO subscription plan.

Follow these steps to create a QBO account:

  1. Open your web browser and go to the Intuit website: www.intuit.com.
  2. Click on Products and select QuickBooks, as shown in Figure 1.1:

    Figure 1.1: Navigating to QuickBooks

  3. Click...