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QBO QuickBooks

QuickBooks Online Version vs QuickBooks Desktop Version differences (QBO vs QBDT)

This summarizes the differences between QuickBooks Online and QuickBooks desktop versions (Pro, Premier, Enterprise Solutions)

  •  QuickBooks Online Edition offers anytime, anywhere access to QuickBooks for up to 25 simultaneous users, while QuickBooks desktop version offers Webex Remote Access as a solution for accessing QuickBooks from a remote location, but does not allow simultaneous access for multiple remote users.
  • Online Edition upgrades are free and usually released 2 to 3 times per year; it is not necessary to purchase a new version of QuickBooks Online Edition. Desktop versions of QuickBooks are purchased as new software each year, although multiple free updates to the program are released throughout the supported life of the purchased software.
  • Online Edition includes support is at no additional cost. Support for desktop versions of QuickBooks is not included for the life of the product.
  • Online Edition Plus tracks inventory.
  • Online Edition does not integrate with QuickBooks Point of Sale as desktop versions of QuickBooks do.
  • Online Edition does not offer QuickBooks Bill Pay as but desktop versions of QuickBooks do.
  • Online Edition does not do complete job costing, although it does track expenses by job. QuickBooks desktop versions offers complete job costing.
  • Online Edition offers less flexibility with regard to customizing forms or reports than QuickBooks desktop versions.

 

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Customer Job costing QBO QuickBooks

How do I connect expenses to customer jobs for Customer job costing in new QuickBooks Online Plus?

Billable and expenses setup
Billable and expenses setup

If you have Essentials, you will need to upgrade from Essentials to Plus subscription.

From Home page screen

  • Go the Company “Gear” icon (located at top right hand corner, next to company login name
  • Select “Company Settings” under Settings heading
  • Select “Expenses” under Settings heading
  • Select “Bills and Expenses” and make needed selections

▣ Show Items table on expense and purchase forms On
▣ Track expenses and items by customer On
▣  Make expenses and items billable On

  • Save

In some earlier QuickBooks Online Plus version, take these steps:

  • Click the “Gear” icon (located top right hand corner, next to company login name)
  • Select Company Settings under Settings menu
  • Select Vendors & Purchases under Preferences
  • Select and Checkbox Expense and product/service tracking by customer
  • Select and Checkbox Use billable expenses and products/services
  • Save

Next time enter bills, write check, enter expense (paid by debit card or credit card), select appropriate billable/customer

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 Job costing Profit and Loss Reports

Can you run Profit and Loss per Customer Invoice in new QuickBooks Online?

t would be really nice if you can get PnL by invoice or Pnl by product item. At this time, new QuickBooks Online Plus can not provide with such financial report. No such reports are available even though certain cost exist data may already in the QBO file.

If you are selling inventory items and costs are fixed (not variable costs), you can create sub-customer per invoice and may be able to get the PnL by Invoice. Again, I am stretching a little bit here since today’s QBO is designed for job cost, product cost or whatever costing method you want to use.

For non-inventory selling business or servie type selling business, no can do in today’s QBO.