QuickBooks Online QBO Tutorial for Beginners – August 2016

How would you like to learn QuickBooks in 90 minutes? This FREE video tutorial is specifically designed for beginners in mind. You will learn QuickBooks Online the right way from the start. It covers all the basics you need to learn and offers some helpful tips. If you are looking for step-by-step educational guidance and […]

How do I fix unapplied cash payment income and unapplied cash bill payment expense

You may see two accounts for UNAPPLIED cash payments if you report Profit and Loss on a cash basis. It will automatically trigger to these two accounts simply because you have entered certain deposit and payment transactions differently than normal flow in QBO. These two accounts are automatically added to the Chart of Accounts when […]

How do you mark a bill as paid if paid by your parent company (not by your bank account or credit card)

First, you need to get some guidance from the parent company if they go through inter-company elimination process to prepare consolidated balance sheet report. In QBO create Intercompany Accounts Payable Account (not main Accounts Payable A/P) > you can select “Credit Card” Type > it will show as Credit Card group on the Balance Sheet. […]

How does one record use of multiple payment sources for a single expense?

I made a large purchase that had to be paid with multiple payment sources. I can find lots of information for splitting a single payment into multiple expenses, but how does one go about recording the opposite case? For example, a $10,000 expense that was paid $6,000 from a checking account and $4,000 on a […]

How to set up vendor payment term where all bills are due month-end of the following month? For example, April vendor bills are due on 31st of May.

To setup “Term” in new QuickBooks Online: From the homepage screen Select the Company Gear (upper-corner) Select “All Lists” under Lists heading Select “Terms” Select “New” button New Term screen will open Name = Due following month end (or name as needed) Select “Due following month end” Enter “31” day of month Under Due the […]

How do I record negative (credit) Vendor (Supplier) Bill in new QuickBooks Online?

How do I record negative Vendor bill? If it’s for vendor’s (or supplier’s) credit bill: Click Create “+” sign in the middle (see attached screenshot below for reference) Select “Vendor Credit” under Vendors It will leave credit balance on Accounts Payable under Vendor’s Name. New QuickBooks Online Plus – How to enter various expenses in […]

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