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This article explain how To Use QuickBooks Online. One common accounting program for small and medium-sized businesses is QuickBooks. If you are looking for a job in accounting, management, or office work, learning QuickBooks could help you get jobs that require you to know how to use this kind of software.
It will also explain how to do common tasks, like reconciling and deleting deposits, and give you the best tips for getting the most out of the service. Accounting paperwork is something that every business needs to do, and our experts know what features, prices, and support to look for.
Ways To Use QuickBooks Online
Get to grips with the QuickBooks Online dashboard
The first thing you need to do to learn how to use QuickBooks Online for a business is to get to know the dashboard.
When you log into your QuickBooks account online, this is the first thing you’ll see. From the dashboard, you can get to everything you’ll ever need as a QuickBooks user. Spend some time looking at the dashboard’s different menus so you can figure out where everything is.
Import your business data
So you don’t have to start from scratch, it’s quick and easy to automatically import your business data into your QuickBooks Online app. You can import things like your bank transactions, your Chart of Accounts, supplier bills, employees, budgets, and customer or vendor data.
There are several ways to import data into QuickBooks Online, so you can choose the one that works best for you and your business. You can try different things, such as:
- MS Excel files
- CSV files
- Intuit Interchange Format (IIF) (that’s QuickBook’s proprietary text file)
- Web Connect file
Choose your financial preferences
You can change your financial preferences in this part of your QuickBooks Online account from the sales, expenses, and advanced tabs while you are updating your business information. Change things like your credit card payments, automated invoices, VAT details, and the end of the year for your business so that all the information in your reports is correct.
Customize your Chart of Accounts
Your Chart of Accounts is a list of the different categories that QuickBooks uses to organize your company’s money for its financial statements. By default, QuickBooks Online has five categories: income, expenses, assets, liabilities, and equity.
Most business owners who use QuickBooks will leave these settings as they are, but you may want to change the categories to fit your needs. You may want to change the names of the categories, or you may find that you need to add a sixth category that doesn’t fit into the first five.
To do this, go to the dashboard and click on “Accounting.” Then click on “Chart of Accounts.” Choose “New” and then either “Expense” or “Other Expense” for “Account Type.” Choose a “Detail Type,” then add the name and a description of your new expense category.
Want to know how to export your Chart of Accounts in QuickBooks Online? On the screen for your Chart of Accounts, click the “Run Report” button. You will see print, email, export, and settings. Just pick the one you want to export to an Excel sheet or PDF file.
Connect your bank and credit cards
At this point, you can link your bank accounts and credit cards to your QuickBooks Online account. This means that QuickBooks will automatically download your past transactions from your accounts and sort them into categories. This will save you time and effort because you won’t have to enter any details by hand.
Go to “Bank Accounts” on your dashboard and click “Connect account.” Then search for your bank and sign in using the same username and password you use for online banking. Once it’s connected, you’ll be able to see all of the accounts you have with this bank. Choose your business account, and then choose the transactions you want to move to your QuickBooks account.
Most banks will show you transactions from the last 90 days, but some will let you see transactions from as far back as 24 months. Once you’ve picked the right transactions, QuickBooks will automatically download them. Then, once your transactions have been downloaded, all you’ll have to do is agree with how they’ve been sorted.