The business owner or an accountant can easily manage their work with the help of QuickBooks Online. For service-based businesses, QuickBooks Online is a great application that does not contain any complicated invoicing requirements. You can use QuickBooks Online to create invoices and estimates, manage customer supplies and orders, sales, and track cash flow. Additionally, you can track your company performance and the taxes for making plans for the future budget. If you are someone who wants to start your own business then, you came to the right place. Because, for starting any business, you require accounting software. And, QuickBooks accounting software is the best in the accounting market. And, in this blog, you are going to know about how to use QuickBooks Online.
Now, firstly know about the attributes of QuickBooks Online.
What are the characteristics of QuickBooks Online?
You will see many amazing and different features in the QuickBooks Online, such as
- Easily track the location.
- Limitless tracking of time and report generation.
- Manage and set up multiple budgets per financial year.
- You can do many tasks from mobile too. Such as attaching images, documents, and files related to work.
- Also, can set bank transactions and download them whenever you want.
- You can easily customize the custom labels.
- Journal entries have multiple AP or AR lines.
- Join the third-party app easily.
- Also, record the changes and actions checked on a regular basis using the audit log.
How you can use QuickBooks Online Software?
Below, there are given some points to learn how you can perform different important things. There are several functions offered by QuickBooks Online.
How you can Set-up QuickBooks Online?
For creating your first invoice, you need to add the company information in the starting then select the account and settings, choose the date of the financial year, give a logo to your QuickBooks account, and finally set default payment terms. Let’s move ahead to know about the procedure of how to set up QuickBooks Online
- First of all, enter your company’s information.
- Then, select a method of accounting.
- After that, create or choose the company logo.
- And, set up the terms of payment.
- Finally, do customize invoicing and payment processing.
How to Undo Reconciliation in QuickBooks Online?
When the payment is recorded for the wrong date or the statement date is incorrect then undo reconciliation in QuickBooks is done. For this, you have to follow these steps:
- Firstly, open your QB Online.
- Then from the banking menu, select Registers.
- Choose the account in your register name drop-down list.
- For which you want to undo reconciliation, click on that transaction.
- And in the end, delete the letter “R”.
How to set the Job Costing in QB Online?
You have to make sure that QuickBooks is correctly configured on your system if you want to set up job costing in QuickBooks Online. Before assigning the jobs to the clients, you have to build the job type. Then, for the customers, set-up the job and produce the bills. And, you have to perform high-level reporting. In the end, estimate and change the orders regularly.
How to create QuickBooks Income Statement?
Steps to create QuickBooks income statement:
- Firstly, QuickBooks finds the income statements according to the version.
- You need to choose the income statement report format.
- Then customize your QuickBooks income statement according to your needs like statement basis, notes, dates, columns, etc.
- After that, create the income statement.
- Finally, save the print then send your income statement.
How you can get a QuickBooks ProAdvisor?
The ProAdvisors of QuickBooks is a trained accountant who provides tax return service, audits, bookkeeping services, etc. Dial toll-free Number +1-888-461-1336, if you are looking for a QuickBooks ProAdvisor near you.
How to set up the Sales Tax in QuickBooks Online?
In QuickBooks Online, adding a sales tax is an easy process.
- In QuickBooks sales tax, add a tax rate and agency.
- Add a combined rate.
- Change a tax rate, organize QuickBooks Sale Tax settings.
- Then, deactivate a tax rate.
Resources provided by Intuit
When it comes to using online then there are the following steps of Intuit website that help you as a guide:
- Quickopedia: It helps you to find out the answers to QuickBooks Online, Quickopedia is a very useful website.
- QuickBooks Connect Conference: This facility will bring out thousands of users or customers to one platform to share and gain knowledge.
- Intuit Academy: to learn about the QB Online, Intuit academy is a perfect place.
- QB Blog: it will provide you tricks, tips, and updates on the QuickBooks Online product.
Services provided by QuickBooks Online:
The QB Online has excellent features, let’s start,
- Built-in reports
To create financial reports, the built-in feature will help you. Moreover, you can also highlight the reports as your favorite reports that you most of the time.
- Custom User Permission
In QuickBooks Online you can choose the number of uses and also set up a new role to access different areas with the support of custom user permission. Examples of roles that you can access: expenses sales, banking, and payroll.
- Third Accountant User
You can freely add up to three accountants users. To meet your specific requirements, this particular feature will support you.
- Electronic Invoicing
QuickBooks provides another feature of electronic invoicing. With the help of this feature, you can invoice the customer electronically. You can also trace the invoices through email, accept online payments, and send invoices to the customers via the system.
- Mobile Apps
You can use this software from anywhere, anytime from your mobile apps, and view your business’ finances.
- Automatic Backups
Now you don’t need to get worried about losing your data because the data related to your business accounts automatically backup your data.
How to cancel QuickBooks Online Subscription?
For cancelling your QB Online Subscription.
Firstly, you have to sign up for QuickBooks software from any browser. But, also you cannot cancel your subscription from your mobile app.
So, cancel the QuickBooks subscription. You have to click on this link to complete your cancel QuickBooks Online subscription.
QuickBooks saves you time as well as things get systemized because of the flexible features. It is easy to use as accounting software. You will not have to face so many problems because we have discussed QB Online in many ways whilst mastering the software for business purposes. Through different Intuit services, this blog has helped you in understanding this topic. This article has a clear definition of QB Online which is easy to understand. Furthermore, to enhance your knowledge about the software, Intuit provides you many resources to equip you with different websites.