Categories
Check Expense Expenses Vendor Vendors

What is the different between Expense form and Check form under Vendors heading in new Quickbooks Online?

Vendors - Enter expenses paid by debit card, card card, ATM, enter bill, pay bill
Vendors – Enter expenses paid by debit card, card card, ATM, enter bill, pay bill

Check form is to record written manual checks or to enter computer checks to be printed. This entry will reduce bank balance.
Expense form is to record all banking withdrawal type transactions except Check.

New QuickBooks Online Plus – How to enter various expenses in new QBO?

QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit

Categories
Chart of Accounts

How do I characterize a Line of Credit. What kind of account should it be in new QuickBooks Online?

In QBO, Line of Credit should be setup as Other Current Liabilities type account.

  • See screenshot photo 1 below for account setup

In QBO, you can transfer funds from Line of Credit account to Bank account. From the Homepage screen

  • Select “+” sign
  • Select “Transfer” under Other heading
  • See screenshot photo 2 below for transfer from Line of Credit to Bank account
QBO line of credit account setup
QBO line of credit account setup
QBO line of credit bank transfer
QBO line of credit bank transfer

 

New QuickBooks Online Plus – How to enter various expenses in new QBO?

QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit

 

Categories
Customer Center Customers Invoice

I accidentally sent out a batch of invoices by email. How to figure out which ones got sent in new QuickBooks Online?

From the Homepage screen, go to the blue navigation bar on the left

  • Select Transactions
  • Select Customer
  • Select Gear (Not the company gear located top upper corner. This one is located in the right middle corner next printer and excel icons)
  • Select “Email” and “Status” from the dropdown selector
  • See screenshot photos below for reference
verify invoice email 3
verify invoice email 3
verify invoice email 1
verify invoice email 1

verify invoice email 2
verify invoice email 2

New QuickBooks Online Plus – How to enter various expenses in new QBO?

QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit

Categories
Products & Services

Can I import Inventory with Quantity on Hand from Excel Spreadsheet in new QuickBooks Online?

YES, you can import Inventory with Quantity on Hand from Excel Spreadsheet.

Import from Excel spreadsheet (see attached sample spreadsheet format below)

  • GO the Company Gear (located at upper right hand corner)
  • Select “Import Data” under Tools heading
  • Select “Product and Services”
  • Click “Choose File” button to import
  • Follow the instructions

I would recommend importing few inventory items first and review it.

Import Inventory List from Excel
Import Inventory List from Excel
Categories
Reports

How to change cash flow forecast beginning balance in new QuickBooks Online?

In QBO, Cash Flow Forecast beginning balance is based on accrual basis accounting method. And, it is fixed. No way to change it from accrual to cash.

If you are running the Balance Sheet and Profit & Loss reports, you will need run on accrual basis as well to match with Cash Flow Forecast report?

For detailed instructional guide regarding these topics, you can also checkout our YouTube videos published for new QuickBooks Online users.

QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit

New QuickBooks Online Plus – How to enter various expenses in new QBO?

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Categories
Credit Memo Customers Customers Center

How do I record a refund to a customer in new QuickBooks Online?

If you have credit balance in customer’s account (A/R) and need to refund customer by payment (by check or by online), you should be using Check or Expense under Vendors header, not Refund Receipt form which works differently.

From home page screen, click “+1” sign
Select check (or expense if you paying online) under Vendors header
Select Customer from drop-down that need refund
Go to Account under Account details = Accounts Receivable (A/R)
Amount = refund amount
Save and Close
This entry will clear customer balance due account.

Note: If you have already used Refund Receipt form for this customer, need to delete that entry. That entry all it does is, takes out money from the bank account and also will reduce the income (or selected account for product/service). It does nothing with Customer account/Accounts Receivable account.

SECOND NOTE:

When to use Refund Receipt under Customers header?

If you have originally created Sales Receipt, to invoice your customer and payment received at the time of sale, and now you need to refund money to your customer that is only time use “Refund Receipt” form.

When to use Credit Memo under Customers header?

You have originally created Invoice and received payment and account has zero balance. And, you need to refund money (for whatever reason over-billing / returned item), you will need to create Credit Memo first. And, then issue refund money, using either check (or expense) form under Vendors header.

For detailed instructional guide regarding these topics, you can also checkout our YouTube videos published for new QuickBooks Online users.

QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit

New QuickBooks Online Plus – How to enter various expenses in new QBO?

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Categories
Inventory

How to add Inventory in new QuickBooks Online Plus?

In current QuickBooks Online, inventory accounting features are very limited.

Inventory feature is available in QuickBooks Online Plus only. Inventory feature is not available in QBO Essentials or Simple Start.

To turn on Inventory tracking feature:

  • Click on the Company Gear on the upper right hand corner and select Company Settings
  • Click on the Sales Tab on the left hand side
  • Edit the Products and Services section by clicking on the pencil icon
  • Check mark the features you want and click Save button

Settings Sales Products and Services
Settings Sales Products and Services

GO to Company “Gear” (upper right corner) > Select Company Settings > Select Quantity and Price/Rate and Quantity on Hand (Inventory tracking) checkbox under Products and Services

GO to Company “Gear” (upper right corner) > Select Product and Services > Select New

Name = Product Name
Check = Track Quantity on Hand (for inventory items) > I track quantity on hand for this product. This enables inventory cost accounting.
Enter Initial Quantity On Hand
Enter As Of Date
Inventory Asset Account = Inventory Asset
Enter Sales Information (Description on sales forms) > This is what it will show up as description on invoice form
Purchasing Information (Description on purchase forms) > This is what it will show up as description on purchase order form
Price/Rate = Selling price to customer
Cost = price you pay to vendor/supplier to buy this product
Income Account = Select income account from chart of accounts > This is what will show up as income category in your P & L
Expense Account = Cost of goods sold
Is Taxable box = select if it’s taxable and need to bill sales tax to customer invoice
Save
See attached screenshot photos below for reference.

Also check out tutorial video regarding adding beginning inventory in QuickBooks Online Plus.

For detailed instructional guide regarding these topics, you can also checkout our YouTube videos published for new QuickBooks Online users.

QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit

New QuickBooks Online Plus – How to enter various expenses in new QBO?

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Categories
Customer Center Customers Customers Center

How to bring back a deleted Customer (Client) in new QuickBooks Online?

  • Click on Customers Center ( or Clients) on the left to get to the list. Over to the right of the list there is a grey gear icon (Settings). It is next to Print List and Export to Excel)
  • Don’t confuse this with the blue gear icon on top.
  • Place a check mark in the box by Include inactive.
  • Click on the Customer (Client( name, then Make Active.
  • Voilà!
Customers Center - Include Inactive Settings
Customers Center – Include Inactive Settings
Customers Center - Make Active
Customers Center – Make Active
Categories
Import Data QBO QuickBooks

How long does it take to show up after I have imported my company file from QuickBooks desktop (QBDT) into new Quickbooks Online (QBO)?

There are two ways to import QuickBooks company file from desktop to QuickBooks Online.

Of course, if your company file is very large, it will take longer than a very small company file, so keep that in mind.

If you chose the option in your QuickBooks desktop under the Company menu for Export Company File to QuickBooks Online, great! This is the fastest way to bring your data in to QuickBooks Online. This process generally takes about an hour, though it could be more for larger companies. They will email you once the import is done, but you can start trying to log in after about an hour or so. If they’re not ready, they won’t let you in!

If you downloaded your file to your hard drive and manually imported it to QuickBooks Online, that’s a great solution to bring in your data too. This is a longer process, and can take up to 24 hours. Again, they should email you once the import has been completed, but if it’s been more than 24 hours, try signing in again. They should have the information all ready for you!




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Categories
Export Data

How do you put your QuickBooks Online onto a flash drive?

That’s a really great question! While you can absolutely make a copy of your QuickBooks Online data and store that copy on a flash drive, there are a few limitations that I’d like to go over with you first. That copy of the data is intended for your own peace of mind. You will not be able to move that data back into QuickBooks Online. You will also not be able to import a local copy file stored on a flash drive directly into a desktop version of QuickBooks.

IMPORTANT information about the local copy:

  • Cannot be used to work offline. You can’t make changes to your local copy and move them back into your QuickBooks Online company.
  • Cannot be used as a snapshot to restore your data into QuickBooks Online in the future.
  • Can only be done from a PC using Internet Explorer (IE10) at this time.
  • Cannot be directly imported into QuickBooks desktop software. Choose the “Export to QuickBooks desktop edition” option instead of the “Create a local copy” option if the data is to be used in QuickBooks desktop.
  • Will include your most important financial information, but some information will not be included.

In addition, you must maintain the security of the data yourself. QuickBooks Online can only safeguard data that resides on our servers.

How does it work?

You can download a copy of your data to store on your own PC or flash drive with just a few short steps. While you are unlikely to ever need to access the file, it might make you feel more comfortable knowing you have it.

    1. Click the gear in the upper right of your Home screen.
    2. Choose Export Data from the dropdown.
    3. You may or may not see this message: IMPORTANT: Before you can perform either of the tasks below, you must install an ActiveX control.
      • If you do not see the message proceed to the next step.
      • If you do see the message but, below it you see: ActiveX control successfully installed. You can…, proceed to the next step.
      • If you do see the message and below it you see an Install button, you will need to click Install and finish the Active X installation in order to complete the local copy, then proceed to the next step.
    4. Scroll down to the section that reads, Create a Local Copy “Have a copy of my data on my computer (a “local copy”). Click the link for Local Copy Interview.
    5. Complete the remainder of the interview.

After you create a local copy of your data, you can just download it and keep it on your computer. Here’s how:

  1. Click the Activity from your Home screen that starts with Download the company file created on…

          Note: The company file will only be available to download for 10 days; after that, the link expires and you will have to perform the above steps again.

    1. Click I’m creating a local copy to keep on my computer.
    2. Click Download.
    3. A window will open allowing you to choose a location to save your file. Browse to the location you would like to keep the file (like maybe that flash drive).
    4. Click Save.

If you ever need to read the contents of the file, you can open it in a program such as Microsoft Word or Excel. However, you may need someone with programming skills to help interpret it! Hope that helps you get what you needed!