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Setting up Quickbooks Online

Setting up Quickbooks Online

Instructor: Lauretta Business 26 Sep, 2022
5.00
(1 Rating)
About The Course

Getting started with QuickBooks Online can be a little confusing, here’s a tour to help you find the most important features before you set off and commence your set up of your QuickBooks Account. Lauretta walks your though free trial for QuickBooks online, plus the URL for the Test drive file you can use throughout the demonstrations

The Course Curriculam

Version of QuickBooks
QuickBooks Versions: There are three versions of QuickBooks Online. A plan can be chosen to suit the requirements of the business.

  • Which version of QuickBooks Online
    06:19

Buying QuickBooks & Demo file test drive
Lauretta walks your though free trial for QuickBooks online, plus the URL for the Test drive file you can use throughout the demonstrations

Navigating around your QuickBooks
Getting started with QuickBooks Online can be a little confusing, here’s a tour to help you find the most important features before you set off and commence your set up of your QuickBooks Account.

GST & Setup of BAS Centre
GST Setup Lodging your Business Activity Statement (BAS) or Installment Activity Statement (IAS) on time is an important part of operating an Australian business. When cash flow is tight, no-one wants to pay Failure to Lodge (F.T.L.) penalties in addition to other expenses. In this section we will cover setup of the GST and BAS Centre **Please note if your unsure of any of your requirements with the ATO please get guidance on setup from your BAS Agent or Accountant Before importing or entering any data, you need to set up GST. Select GST from the left navigation menu. Click on Set up GST. This will display the following window which requires your companies GST information. Important: If you are not registered for GST – do not use this feature as many settings are permanent changes to your file. When setting up a new company file attention should be paid to the settings for GST as some of these settings cannot be modified once established as part of the company set up and GST has been activated and posted. Make sure the GST period beginning is correct as THIS CANNOT BE CHANGED.

Setting up your QuickBooks Business Account
When you first set up your Business account/file you have several important steps to setting up your business account. Once the account has been opened and the wizard run. Getting setup correctly will ensure you stay compliant with GST, taxes and ensuring your financials are accurate. Tour of Business Settings Throughout the courses, modules and individual topics, we will be using the sample file “Buddy’s Pooch & Pets Supplies” for demonstration and training purposes. We take a look at Your Company setting’s from the Admin area (or we call it the Cog Wheel ) Lauretta walks you through in depth through the important steps that you need to cover off BEFORE you commence any transactions in your new business account/file Adding your logo into your business account/file

Invoice Customization
You have access to templates within your Quickbooks Online account, to easily create your own tailored “online invoice” to send out directly to your customers. When you have completed your customer’s invoice, you can send this invoice out immediately straight to your customers email inbox, you can download and save as a PDF or print, or save the link and email out from your email software. In this section we show you how easy it is to tailor your invoices as you like, add your logo, and you can have up to 25 invoice forms saved if you want to send out different formats to different customers.

Chart of Accounts: Basic Setup
Lauretta shows you how to setup 3 new basic Accounts in the Chart of Accounts, an Expense account, a Bank account and a Credit Card account, while she does this she gives you an in-depth explanation of the following: - What is a Chart of Account - Explains the accounts found in a Balance Sheet - Explains the accounts found in a Profit and Loss This will help you determine which Detailed Type account goes where. This is most important as this sets out your financials. Also look at the Module “Chart of Accounts” which goes more in depth and helps you streamline your financials working in with your Products and Services

Products & Services: Basic Setup
What is a Product and Service in QuickBooks Online? When you set up a Product or Service in QuickBooks Online this represents what you sell, - a Product that you buy in and sell - or a Service that you or your staff provide. Lauretta also explains to you when you should use Non-Inventory over Inventory caution here with Inventory. Lauretta sets up a basic Service called “Spa Treatment” for the In Store Grooming Services that Buddy’s Pooch and Pets Supplies provide in their business.

Adding in your Team into your QuickBooks account as a User
Lauretta walks you through the Manage Users section as when running your business you may have a Team behind you. The best way to set up your team in QuickBooks Online depends, firstly on the version of QuickBooks Online you have and then the access you would like to grant to your team member You can manage their roles and limit their access to specific tasks. You can also choose what users can see and do within different areas of QuickBooks like Customers and Sales or Suppliers and Purchases.

Linking Bank accounts & Credit Cards
Linking Bank and Credit Card accounts to QuickBooks online from your bank, will save you time and reduces errors by automatically downloading the transactions, directly from your accounts in the bank via a secure online connection. Lets look at how to add Bank accounts and or Credit Cards to you QuickBooks accounts, this will be such a great time saver for you. This is a great way to track your income and spending without having to manually enter every transaction, and processing the transactions from these bank feeds. Lauretta walks you through step by step methods that you can use in setting up your bank feeds.

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Lauretta

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  • 2 months ago
    Excellent experience