How to set it up and enter bank Line of Credit (LOC) transactions in new QuickBooks Online?

To track a line of credit (LOC) extended to your business, create a liability account with an opening balance of zero in your Chart of Accounts. From the Home page screen Go to the Company Gear (right upper-corner) Select Chart of Accounts under Settings header Select blue “New” button (right corner) New “Account” information screen will open Category […]

How can I document money taken out of personal checking to pay for some initial expenses?

Once you have transferred money from your personal to business checking account, this is how you will need to record the deposit in new QuickBooks Online. Click “Plus” icon menu Select Bank Deposit from “Other” menu Choose the correct bank account (if you have more bank accounts) Select correct date of deposit Received From = […]

I would like to stop importing data from a bank account. How do you disconnect a bank account (or a credit card account) added into online banking?

In new QuickBooks Online, disconnecting an account isn’t exactly in an obvious spot. To disconnect an account from online banking, we’re going to want to start in the upper right by clicking the little company gear, and then choose Chart of Accounts under settings. We’re going to click the connected account (you can tell it’s […]

In Peachtree I enter receipts from cash I received into two different accounts. Depending whether is rental payment or security deposit. Now, how do I create cash accounts in QB?

In newQBO, you will need to create new accounts setup in Chart of Accounts: Cash Account (Bank Type) Rental Payment (Income Type) Security Deposit (Other Current Liabilities Type) (From Company Gear, top upper corner > select Chart of Accounts under Settings header) Also, if you are creating Sales Receipt, you will need to Product/Service Item […]

How do I set up to pay owner? How do I show funds paid to owner in new QuickBooks Online?

Create Owner’s Draw account under Equity type Click Gear Select “Chart of Account” under Settings Select “New” button Category Type = Equity Detail Type = Owner’s Equity Name = Owner’s Draw Save New QuickBooks Online Plus – How to enter various expenses in new QBO? QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit