If you’re still manually entering your banking and credit card activity into QuickBooks Online, we suggest you consider setting up connections to your online bank and credit card accounts. Once your transactions are delivered to QuickBooks Online, the site provides tools that allow you to view them and make sure they’re complete before you record […]
Class tracking in QuickBooks Desktop allows users to track financial information by business segments (locations, departments, programs, events, etc.). It also allows you to keep your chart of accounts simplified as you don’t need to duplicate elements of your chart of accounts to track multiple business segments. To begin using the class tracking feature, you’ll […]
Business owners tend to focus on the Profit and Loss Statement as it shows the income and expenses flowing through their business. Also, the categories (accounts) on the Profit and Loss Statement are terms they tend to use in their day-to-day business dealings. The Balance Sheet however, uses accounting terms that might not be used […]
As a business owner or accounting professional, staying on top of financial data is critical for making informed decisions. QuickBooks Desktop offers a powerful tool to help with this: Scheduled Reports. Scheduled Reports allow you to automate the delivery of financial reports directly to your inbox—or to your team’s inbox—on a recurring schedule. Instead of […]
Managing unpaid invoices is often one of the least enjoyable tasks when running a business. While no one likes reaching out to customers for overdue payments, failing to do so can negatively impact your cash flow. Setting up automated email reminders in QuickBooks Online can help streamline the process. Not only will it reduce the […]
In QuickBooks Desktop Pro and Premier versions, the Admin user (Administrator) can set up and edit user permissions. The Admin user is the one who initially creates the company file and assigns access levels to other users. The Admin user has full access to all features and can manage user permissions, including: To set up […]
If you’ve started your own business, you’ve likely come across two key financial reports: the Balance Sheet and the Profit and Loss Statement (also called the “Income Statement”). Although they might look similar at first glance, they serve different purposes. Let’s break down what each one tells you about your business. What is a Balance […]
Keeping track of bills and payments can be overwhelming, especially if you’re juggling multiple vendors. QuickBooks Desktop offers the Vendor Center as a single, convenient location to organize everything you owe—and what you’ve already paid. This feature not only streamlines your records but also gives you a clear view of your business finances. Below, we’ll […]
Understanding the cash flow statement is one of the most important ways to gauge your company’s financial health. Think of it as a map showing how money moves into and out of your business. Below, we’ll walk through the basics so you can read and interpret your cash flow statement confidently. What Is a Cash […]
What Is a Recurring Payment? A recurring payment is an invoice or sales receipt that automatically repeats on a schedule you choose—weekly, monthly, quarterly, or any frequency you need. When you set up a recurring payment, QuickBooks Online handles the repetitive work. You decide on the details and schedule; the program will do the rest. […]