Categories
Employees Expense Expenses

QBO: How do I make employee payroll reimbursement for expenses they incurred on behalf of the company

To set up a single reimbursement pay type for an employee:

  • Click on the Employees tab
  • Click the name of the employee
  • Click on the pencil icon beside Pay
  • Click Additional pay types
  • Click the arrow Even more ways to pay
  • Check the box for Reimbursement
  • Click Done

This is useful if you separately track reimbursements for different expense types (such as travel and supplies). Amounts paid as reimbursements are not subject to any taxes, and are not included on any forms.

Click on the screenshots below to enlarge them
1additional pay types

2even more ways to pay

3reimbursement

Weekly Price Check US CA UK AU (Plus Plan)

USACanadaUKAustralia
us120x90ca120x90uk120x90au120x90
USD 23.97 per monthCAD 14.50 per monthGBP 15.00 per monthAUD 21.00 per month
USD 23.97 per monthUSD 12.01 per month
(Conversion)
USD 23.30 per month
(Conversion)
USD 16.60 per month
(Conversion)
LOWEST PRICE!
Categories
Banking Expense Expenses Import Data

How to import credit card transactions from Excel CSV (.csv) file into QuickBooks Online?

The short video (below) will show you step-by-step instructions on how to import credit card transactions from Excel CSV file into QBO so that you will not import transactions the wrong way.

Confusion has to do with bank account field and Quickbooks field screen. It is the same field name for bank download as well credit card download. Users are importing a CSV file from credit card company and every transaction ended up being the opposite of what it should be…. expenses listed as credits (spent), credits listed as expenses (received).

Once you have downloaded transactions, there is no way to UNDO or delete downloaded transactions. You will have to move to “EXCLUDED” column and it will stay there forever which is not good.

So, I highly encourage you to watch the entire video. You do not want to miss a step.

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import cc csv 9

Categories
Expense Expenses

Compare merchant credit card processing fees

It is time to compare merchant credit card processing fees again.

Announcement today of Amazon’s new “Local Register” payment system, will that have price effect on other merchant processors.

QuickBooks Online Video Tutorials

Description and YouTube Video Link
QuickBooks Online - How to add a logo to sales invoices
QuickBooks Online - How to create a report of voided checks
QuickBooks Online - How to show account summary balance due on new invoices
Can QuickBooks Online handle inventory group type to sell bundle package deal
Handle Inventory Assembly
How to permanently delete bank downloaded transactions in bank feeds
Paying for personal expenses from a business checking or credit card account
Handle inventory group type to sell bundle package deal
How to change transaction numbers on sales forms (Invoices, Sales Receipts)
How to change transaction numbers on sales forms (Invoices, Sales Receipts)
Employer Identification Number EIN (Where to enter / How to use it on Invoices)
How to add a logo to sales invoices
Statement of Cash Flow
Can billable expenses be billed in two partial invoices
How to create a report of voided checks
How to show account summary balance due on new invoices
How to change the account associated with product and service item
How to enter monthly service charges and interest earned from bank accounts
How do I set up Owners or Partners Equity in Chart of Accounts
How to Forecast Cash Flow
QuickBooks Online -- how to set up memorized transactions or recurring transactions in new QBO
QuickBooks Online - Brief side by side navigation guide from old QBO classic to new QBO harmony
New QuickBooks Online (QBO) - Step by step guide to use CLASS tracking in new QuickBooks Online
How to add a second company in new QuickBooks Online
QuickBooks Online: How do you delete (or deactivate) an account on the Chart of Accounts (COA)
New QuickBooks Online (QBO) - Print Checks
Where do you sign out or log out in new QuickBooks Online
How to bookmark QuickBooks pages in new QuickBooks Online
QuickBooks Online: Enter one bank deposit & match to several different invoices
Payroll - print a specific employee paycheck in new QuickBooks Online
QuickBooks Online Tutorial - how to enter credit card in the new QuickBooks Online (QBO)
Track Classes - Make an Inactive previously deleted class Active in new QuickBooks Online. pt 3 of 4
Track Classes - Run Profit and Loss by Class Report in new QuickBooks Online, pt 4 of 4
QuickBooks Online: How do I customize my Invoice. Where is my Customize Data Layout
NewQBO.com Video: How to Record Fees from PayPal and Square in new QuickBooks Online (QBO)
QuickBooks Online - As a sole proprietor, how do I set up to pay owner in new QBO
New QuickBooks Online (QBO) -- Tips & Tricks on Navigating QuickBooks Online - Top Learning Video
QuickBooks Online Plus - Create Sales Form Invoice Subtotal
Track Classes - Make a Class Inactive delete in new QuickBooks Online, pt 2 of 4
QuickBooks Online: Link problems, popups issues with Google Chrome browser
Balance Sheet -- Quick and Easy Way to Learn Tutorial Video for Non-Accountants
How do I batch print unprinted Sales Receipts now in new QuickBooks Online (QBO)
How can I print a Check Register or Check Listing only in new QuickBooks Online
QuickBooks Online: How to run Sales Report by Sales Rep to calculate Commissions in new QBO?
QuickBooks Online Plus and Essentials: How do I delete (wipe out) all my data and start over
How to transfer from one customer outstanding balance to another customer credit balance
How do I change date format in new QuickBooks Online (QBO)
How to run Profit and Loss Report for selective accounts from Chart of Accounts in QuickBooks Online
QuickBooks Online: How to record fees from credit cards, paypal, square, merchant processors
How to run previous months bank reconciliation reports in new QuickBooks Online
QuickBooks Online (QBO) - How can I void or delete checks in new QuickBooks Online
QuickBooks Online: Where do I find the amount of sales taxes due
QuickBooks Online: How can I apply discount taken by a customer on payment received
QuickBooks Online Plus and Essentials: New Look of 2014 QuickBooks Online - Quick Learning Tour
QuickBooks Online: How to delete posted transaction to Inventory Shrinkage COGS Account
QuickBooks Online Plus: how to add beginning inventory quantity on hand
QuickBooks Online: How do I group bank deposit with Undeposited Funds in new QuickBooks Online?
How do I change the accounting method for my company in new QuickBooks Online
QuickBooks Online (QBO) Tutorial - Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit
Closing the books feature in new QuickBooks Online
Payroll - batch print employees paychecks in new QuickBooks Online
NewQBO.com: How to do bank reconciliation in new QuickBooks Online
How do I search for my Invoices by the Customer PO number in new QuickBooks Online
Fixed Assets, Depreciation, Purchase of Fixed Assets on Loan
Vendors - how to apply a specific vendor credit against vendor bill payment in new QuickBooks Online
QuickBooks Online: How to use Delayed Charge to produce Pipeline Revenue, Sales & Cash Forecast?
NewQBO.com - How do I print Invoices from the print queue in new QuickBooks Online QBO
Where do I find the chart of accounts in new QuickBooks Online? How to create new Chart of Accounts?
QuickBooks Online: How to tile vertically two reports (or more) side by side on the same screen?
QuickBooks Online: How to tile vertically two reports (or more) side by side on the same screen
QuickBooks Online: How do I enter when a customer pays with part cash & credit card
How to enter various expenses in QuickBooks Online Plus? The best tutorial video!!!
How should I really enter refund by a Vendor in new QuickBooks Online QBO
QuickBooks Online - how can I refund a customer overpayment in new QuickBooks Online QBO
What are the new improvements in QuickBooks Online just announced in May, 2014
Customers / Clients: How do I apply credit to an Invoice in new QuickBooks Online
New QuickBooks Online (QBO) - How to print multiple invoices in a batch in new QuickBooks Online
QuickBooks Online: How to import Inventory with Quantity on Hand from Excel into new QBO
How can I record a credit memo to a member customer and also have it record an expense
Track Classes - Turn ON Class Tracking feature in new QuickBooks Online, pt 1 of 4
QuickBooks Online QBO - Inventory Valuation Summary & Detail
QuickBooks Online QBO - Reconcile Inventory Valuation to Inventory Asset GL Account
QuickBooks Online QBO - reorder bank accounts on the banking center (bank feeds) and QBO home page
Quickbooks Online QBO Plus - converting inventory part items to finished product item
QuickBooks Online - matching journal entries with downloaded bank transactions
QuickBooks Online QBO - how to match negative credit card daily sales receipts | refund deposit
QuickBooks Online QBO - what is the cost of goods (COGS) when inventory goes negative
QuickBooks Online QBO August 2016 Update (Email Messages Invoice PO, Recurring Transactions)
How do you apply customer payment that has a merchant fee to an invoice
QuickBooks Online QBO - Physical Inventory Worksheet
QuickBooks Online QBO - Transfer Master Administrator role - Original MA gone no PASSWORD available
QuickBooks Online QBO - how to record monthly loan payment with principal and interest expense
QuickBooks Online QBO - handle customer returned defective inventory item for refund
QuickBooks Online - how to find the details of Retained Earnings Account in QBO
QuickBooks Online - Can I use an existing ESTIMATE from 1 CUSTOMER and reuse it for another CUSTOMER
QuickBooks Online Plus: Track returns for customers box on Deposit Form
When I create an Invoice, how do I get the packing slip to show the shipping address
QuickBooks Online - How to create BONUS on my employee's paycheck in QBO Payroll
QuickBooks Online - How can I assign a class to an invoice discount. Showing as not specified class.
How to get back disappeared Apps option on left navigation bar menu of QBO Accountant client home
QuickBooks Online - How to print off a copy of a prior years 1099 and 1096
QuickBooks Online - Deposits Bank Customer Vendor
QuickBooks Online QBO: NEWQBO.COM your one stop quickbooks learn and share blog
QuickBooks Online - How to auto populate sales tax into the sales receipt and invoice
QuickBooks Online - Create a Customer Invoice for Time Materials and Fixed Fee
QuickBooks Online - How can I tell if I sent an Invoice to my Client Customer
QuickBooks Online - How to enter vendor prepayment. To enter a check for a bill net yet received.
QuickBooks Online - How to account for the gain or loss on a fixed asset sale
QuickBooks Online - Way to pay vendor bills originating from your purchase order via a credit card
QuickBooks Online - How to link expenses to specific customers clients
QuickBooks Online - Missing E-Invoicing "Online Payment" options from top of an Invoice form
QuickBooks Online QBO - create a bundle, group items, sell package deal
QuickBook Online QBO - How Do I Automatically Assign Each Employee To A Specific Class In QBO
QuickBooks Online QBO - how to record a deposit with credit card fees | deposit minus fees
QuickBooks - how to handle VENDOR Purchase Order paid for by a Finance Company
QuickBooks Online QBO - how to process DEPOSIT from CUSTOMER for future job delivery RETAINER FEE
QuickBooks - how to enter a vendor credit due to wrong pricing without affecting stock quantity
QuickBooks Online QBO Tutorial for Beginners
QuickBooks Online QBO - Entering Sales Tax amount manually by line item on Invoice (Advanced Level)
QuickBooks Online QBO - tasks reminder displayed on home page screen
QuickBooks Online QBO - how to cancel a QuickBooks Online subscription
QuickBooks Online QBO - how to enter opening balances after setting up chart of accounts
QuickBooks Online - QBO Home Page Overview
QuickBooks Online QBO - What happens to historical data if I delete an account COA
QuickBooks Online QBO How to get MEMO LINE to print on checks
How to track donated inventory stock items by your business in QuickBooks
QuickBooks Desktop and QuickBooks Online - Handling Franchise Fees
QuickBooks Online (QBO) to QuickBooks Desktop Pro Premier Conversion - Export Limitations
Converting your Data from QuickBooks Online QBO to QuickBooks Desktop Pro Premier (Part 3 of 3)
Converting your Data from QuickBooks Online (QBO) to QuickBooks Desktop Pro Premier (Part 2 of 3)
Converting your Data from QuickBooks Online (QBO) to QuickBooks Desktop Pro Premier (Part 1 of 3)
QuickBooks Online: Handling Vendor Refund CHECKS Deposit in QBO
QuickBooks Online - QBO ATTACHMENTS
QuickBooks Online File Size and Feature Limits
QuickBooks Online PLUS - Copy An Estimate To A Purchase Order
QuickBooks Online release notes: May 2016 - NewQBO.com Blog
QuickBooks Online - SKU column to Sales Forms Invoice, Estimate, Sales Receipt
QuickBooks Online Update March 2016 - Inventory Tracking, Receive Payment, Home Currency
QuickBooks Online Accounting for Sole Proprietorship Business (QBO Tutorial For Beginners)
QuickBooks Online: Cash Basis - Unapplied Cash Payment Income, Unapplied Cash Bill Payment Expense
Step by step instructions on how to create a sales receipt with discount like the big retail store
Step by step instructions on how to create a sales receipt with discount like the big retail store
QuickBooks Online - Review of 2015 top improvements, worse update, 2016 wish list
QuickBooks Tutorial - Journal Entry Debit and Credit
QuickBooks Online October 2015 Update Pt2 - ITEM TYPES Inventory, Non Inventory Service
QuickBooks Online October 2015 Update Pt1 - Bank Feeds, Client billable, Attach receipt

Here is the pricing comparison chart:

merchant credit card processing fees
merchant credit card processing fees

Amazon Local Register

Intuit Go Payment

Categories
Attachments Expenses QuickBooks Mobile App Transactions

How to get QuickBooks mobile app and upload expense transactions with receipt attachment?

To get mobile app for iPhone, iPad and Andriod, vist this website:
http://qboblog.com/links/

To get your receipt uploaded and expense recorded to QuickBooks Online:

  • Sign into your QuickBooks Online mobile app
  • Select your company
  • Click the Create (+) in the upper right
  • Select Expense from the menu that appears
  • Click the blank square field towards the upper left (there’s a blue camera image in the center of the field)
  • Select “Take Photo” to take a new picture of the item, or “Choose Photo” if you’ve already taken and saved the image to your device
  • Click “Amount” to enter an amount for this expense
  • Select a payment account and an expense account for this transaction
  • When you’re finished, click Save in the upper right to lock this transaction in

When you return to QuickBooks Online on a computer, you’ll find that Expense with an attachment of the image you provided at the lower left.

Categories
Bill Check Company Gear Company Settings Expense Expenses Invoice

How to add Billable Hours and Rate to Invoices from Timesheets (Employee or Contractor) in new QuickBooks Online?

You can get there by clicking the Customize button tab at the bottom (middle section) of the Invoice, Estimate, and Sales Receipt. Select “More” > Check boxes to show Billable to include employee name, hours and rate.

You can also get there from the Company Gear (upper-corner) > Company Settings under Settings header > Sales > Customize > Customize look and feel button > Select More > Check boxes to show Billable to include employee name, hours and rate.

NOTE: This newly added feature is not yet available on all newer QBO versions. That’s what I heard from actual users.

See screenshot photo for reference.
Customize More Show Billable Time

Categories
Bill Chart of Accounts Check Expense Expenses Reports Vendor Vendors

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.

Chart of Accounts
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 Type = Other Current Liabilities
  • Detail = Line of Credit
  • Name = Line of Credit (or Chase Line of Credit if preferred to name the bank)
  • Description Line of Credit (or same as name)
  • Balance = Leave opening balance as “0” (zero even if you’ve already used LOC and has balance. It’s better to enter transaction later.)
  • Click “Save” button
Add new LOC account
Add new LOC account

To record (for example $100,000.00) the LOC extended to your company and deposited to main Checking account:

Bank Deposit
Bank Deposit

From the Home page screen

  • Go to Create “+” sign (top middle)
  • Deposits under Other header
  • Ensure the proper Deposit to account is selected (in this example, Chase Checking Account)
  • Date = Enter bank posted date
  • Go “Add New Deposits” section
  • Received From = Chase LOC Payment (Add New as Vendor if needed)
  • Account = Line of Credit (Select the “Line of Credit” account just created as “Other Current Liabilities) from the Account drop-down arrow)
  • Description = For example, Chase line of credit deposited to Chase Checking Account
  • Payment Method = Bank Online or appropriate (add new if needed)
  • Ref Number = Enter last four digits of LOC number (optional)
  • Amount = $100,000.00
  • Attachments (paper clip icon) = Upload picture of related document (if available)
  • Click “Save and New or Save and Close” blue button

This entry will show you have added $100,000 as deposit to Chase Checking Account and $100,000 as liability to Chase LOC account.

loc deposit
loc deposit

To record just interest charges (in this example $500 interest charges) applied to the LOC by your financial institution:
See instructions below for making Principal and Interest Payment.
From the Home page screen

  • Select blue navigation bar on the left
  • Select Transactions
  • Select Registers
  • Locate Line of Credit Account register
  • Double click Line of Credit Account
  • Liability for Line of Credit screen will open
  • Enter the date of the interest charge (for example 4/30/2014)
  • Financial institution name where the line of credit is held as the Payee (in this example Chase LOC Payment)
  • Enter the interest charge in the Increase column (in this example $500.00)
  • Choose Interest Expense account from the “Account” drop-down arrow
  • Enter “Memo” as Interest Expense for the period (in this example for April, 2014)
  • Click Save
Record Interest Expense
Record Interest Expense

To record a repayment of the LOC and/or payment of interest charges:
(In this example making $5,000 LOC payment from Chase Checking Account ($4,500 principal and $500 interest)

From the Home page screen

  • Select Create “+” sign
  • Select “Expense” (if paid Online) or Select “Check” (if issued Check) under Vendors header. In this example, we are making online payment.
  • Click the LOC Account as Payee from drop-down arrow (“Chase LOC Payment” in this example)
  • Choose the bank account you want to make payment from (“Chase Checking Account” in this example)
  • Expense Date: = Payment Date (for example 4/30/2104)
  • Payment Method: = Bank Online
  • Under Account Details, click the drop-down arrow and choose the “Line of Credit” account (Other Current Liabilities type),
    Under Description = Principal Payment
    Under Amount = $4,500.00
  • On the second line, Under Account Details, click the drop-down arrow and choose the “Interest Expense” account (Expenses type),
    Under Description = Interest Payment
    Under Amount = $500.00
  • Make sure total payment is $5,000.00
  • Attachments (small paper clip icon, bottom left): Upload photo of LOC statement. Optional but recommended.
  • Click Save and New or Save and Close button
LOC payment
LOC payment

To enter a payment that has been made directly from the LOC to a vendor, where no bills have been entered:
In this example, we are making $10,000 payment to Simon Manufacturing for purchased materials.
From the Home page screen

  • Select blue navigation bar on the left
  • Select Transactions
  • Select Registers
  • Locate Line of Credit Account register
  • Double click Line of Credit Account
  • Liability for Line of Credit screen will open
  • Enter the date of the purchase (for example 4/30/2014)
  • Name of Vendor Payee (in this example Simon Manufacturing)
  • Enter the amount in the Increase column (in this example $10,00.00)
  • Choose Purchases Expense Account from the “Account” drop-down arrow
  • Enter “Memo” as Buying Materials (for example XYZ job)
  • Click Save

NOTE: This transaction will not show up on Vendors Center record. For to show transaction recorded on Vendors Center, see three-steps process below.

LOC purchases
LOC purchases

To pay bills where funds have gone directly from the line of credit to the Vendor Entered Bill as Accounts Payable:
This involves three steps process.

Step # 1 Enter Vendor Bill

Enter Vendor Bill
Enter Vendor Bill

From the Home page screen

  • Select Create “+” sign
  • Select “Bill” under Vendors header
  • Select Vendor = Simon Manufacturing
  • Date = 4/30/1014
  • Under Account Details column, select Account = Purchases Expenses Account for example
  • Amount = $10,000.00
  • Click Save and Close button

This entry will created Accounts Payable balance of $10,000.00 to Simon Manufacturing’s account

Step # 2 Write Journal to show payment to Vendor by LOC

Journal Entry
Journal Entry

From the Home page screen

  • Select Create “+” sign
  • Journal Entry under Other
  • Enter the date (for example 4/30/2014)
  • On the first line, click the Account drop-down arrow and select Accounts Payable
  • Under the Debit column, enter the amount ($10,000 in this example) you paid the vendor
  • Enter a memo such as “Paid from line of credit”
  • Under Name, click the drop-down arrow and select the vendor you paid (“Simon Manufacturing” in this example)
  • On the second line Under Name, click the Account drop-down arrow and select the line of credit account (“Line of Credit” in this example)
  • Under the Credit column, enter the amount you paid the vendor ($10,000 in this example)
  • Enter a memo such as “Paid from line of credit”
  • Click Save and Close
Journal Entry for Purchase Payment
Journal Entry for Purchase Payment

Step # 3 Now you need to link the bill payment to the vendor credit paid by LOC:
From the Home page screen

  • Select Create “+” sign
  • Select “Pay Bills” under Vendors header
  • Under Pay to the Order of, select the vendor name (Simon Manufacturing)
  • Under Choose an account for Bank, Select Bank Clearing Account (Add new if needed. This account will always have zero balance.)
  • The screen will refresh and you’ll see a matching amount under Credits and Bill Payment Information.  Click the checkboxes so the amounts match.
  • Leave the amount blank as “0.00” zero. It’s “In and Out” entry, so amount should be zero
  • Click Save and Close button

This entry will clear Accounts Payable and will show payment transaction on Vendor Center.

Apply LOC payment to vendor 1
Apply LOC payment to vendor 1

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Categories
Expense Expenses

How do I enter historical expenses (already paid for) for 2013 to get started in new Quickbooks Online?

Expense Check
Expense Check

In order to enter historical expenses, stay with these two specific forms:
Click “+” plus icon > select “Expense” under Vendors menu
Click “+” plus icon > select “Check” under Vendors menu

Expense Form:

You can use this form to enter Debit card, ATM Card, EFT, Wire transfer or any banking related withdrawals or charges (except checks)

Choose a payee or vendor’s name > select bank name account > select Expense Date (example if the charges were for 3/1/2013, enter the same way , not today’s date >>> VERY IMPORTANT since you are entering historical charges) > select Account category > Enter Amount > Save
NOTE: You can also use this form to enter Credit Card charges as well. Just select credit card account (open add new if needed)

Check Form:

Same way like above except, enter actual Check Number rather than Reference Number.
Once again, key here is to carefully select accurate expense date since you are entering historical transactions. You can use Expense date as posted on the bank statement.

Categories
Chart of Accounts Check Create Expense Expenses

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

Owners Equity Account
Owners Equity Account
  • 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

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
Bill Expense Expenses Journal Entry

How to make Journal Entry line items billable?

In QBO, there is no way to make Journal Entry billable like in QB desktop version. Instead, you will to enter as vendor expense, check, or bill. Then you can make it billable expense to customer or client.