Category: QuickBooks Online QBO
To turn this on: Gear > Your Company > QuickBooks Labs
The cash flow chart uses historical data from your Banking tab — bank connected transactions only.
The chart excludes:
CSV import, Credit card, entered manually into QBO, Multicurrency transactions
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Tag transactions in QuickBooks Online
Tags are customizable labels that let you track transactions however you’d like right for your business.
You can tag transactions such as invoices sales receipts, expenses, checks, and bills.
When you put Tags into Tag Groups, you can easily see how your business is doing. You’ll need Tag Groups to get reports for your tags. Currently, they have got the following two standard reports:
- Profit and Loss by Tag Group
- Transaction List by Tag Group
In this video, it will show how to tag transactions for tracking California County Sales, Out of State Sales and Sales to pay Rep Commissions.
Examples of creating a tag group and tags:
Example 1:
- Tag Group = Tracking California Statewide Sales or Out of State Sales
- Tags = California counts such as Alameda, Humboldt, Merced, San Bernardo, Salona and so on.
Example 2:
- Tag Group = Tracking Sales to pay Sales Commissions
- Tags = Name of Sales Reps like Joe, Amy, Bette, Matthew, Bill, Jennifer and so on.
Here is how to modify your transactions by batch so you’ll not go through each and every single one of them in your register:
With your expense transactions, you can visit the Expenses menu from the left Dashboard. You can filter the transaction you want to update except Split transaction, then categorize them.
- Go to the Expenses menu from the left Dashboard.
- Select the Expenses tab.
- Click the Filter drop-down.
- Choose Type, Dates, and Category as you need.
- Select Apply.
- Choose the transaction by clicking the box beside the Date column.
- Click the Batch actions drop-down arrow, then select Categorize selected.
- Select the correct category by clicking the drop-down arrow in the Categorize Selected window.
- Click Apply.
In this example below, it shows how to batch recategorize expenses from the Purchases account category to the Purchases-1 account category.
Note: Batch action will not work on split transactions. Split transaction means more than one account has been used to record the transaction.
QuickBooks Online Tutorial: QuickBooks 2020 Getting Started for Beginners
Sign up QuickBooks for a 30-day FREE Trial https://newqbo.com/test-drive/
Compare Features and Usage Limits of QuickBooks Online Plans – Advanced, Plus, Essentials, and Simple Start https://newqbo.com/features-and-usage-limits-in-various-quickbooks-online-plans/
Currently, there is no built-in Customer Sales Detail by the Sales Rep report to pay commission in QBO at this time.
The workaround in QBO is to use one of three available custom fields on the sales forms (invoice and sales receipt) for Sales Rep (as a text field). And then you can run the standard Sales by Customer Detail Report, and filter Group by Sales Rep. Since this is just a text field so you will need to assign sales rep every time you create an invoice or sales receipt.
With QBO Advanced version, you can assign Sales Rep at the Customer Information level but on other plans, such feature option is not available.
The following table will show features and usage limits available in various QuickBooks Online plans:
Compare Features and Usage Limits of QuickBooks Online plans - Advanced, Plus, Essentials, Simple Start
| Advanced | Plus | Essentials | Simple Start | |
|---|---|---|---|---|
| Features | ||||
| Price Rules | Yes | Yes | No | No |
| Inventory | Yes | Yes | No | No |
| Progress Invoicing | Yes | Yes | Yes | Yes |
| Track expenses and items by customer | Yes | Yes | No | No |
| Makes expenses and items billable | Yes | Yes | No | No |
| Purchase Orders | Yes | Yes | No | No |
| Track classes | Yes | Yes | No | No |
| Track locations | Yes | Yes | No | No |
| Projects | Yes | Yes | No | No |
| Time Tracking | Yes | Yes | Yes | No |
| Multi Currency | Yes | Yes | Yes | No |
| Recurring Transactions | Yes | Yes | Yes | No |
| Custom Fields | Yes | No | No | No |
| Manage Workflows | Yes | No | No | No |
| Import Data - Invoices from Excel CSV file | Yes | Yes | Yes | Yes |
| Budgeting | Yes | Yes | No | No |
| Customer Types | Yes | Yes | No | No |
| Customers - Delayed credit and Delayed charge | Yes | Yes | Yes | No |
| Accounts Payable (Bill & Pay Bills) | Yes | Yes | Yes | No |
| Enter Batch Transactions for Invoices, Checks, Expenses, Bills | Yes | No | No | No |
| QBO Support - Priority Circle | Yes | No | No | No |
| Apps: Chronobooks, Fathom | Yes | No | No | No |
| Usage limits | ||||
| Billable Users | 25 | 5 | 3 | 1 |
| Invite Accountants/Accounting Firms | 3 | 2 | 2 | 2 |
| Chart of Accounts | Unlimited | 250 | 250 | 250 |
| Classes and locations | Unlimited | 40 | Not available | Not available |
In this video, we will do a full comparison between various QuickBooks Online plans. We will do a deep dive into every aspect of Advanced, Plus, Essentials, Simple Start versions of QBO, and review all their features one by one. Hopefully, it will provide you with enough information to evaluate the right QBO plan for your business.
If you found our answers useful then please contribute a few bucks to support this forum. Thank you!
UPDATE: This import invoices from the Excel CSV feature is available on all QBO plans now. Steps: Gear – Tools – Import Data – Invoices.