Accounting Software & Solutions

SMBs needing remote access to their account files should choose QuickBooks Online. If you want the speed and usability of desktop software, then QuickBooks Desktop is preferable. Learn which is right for you in our QuickBooks Online versions comparison guide. This expertise can be helpful with setting up your accounting processes, troubleshooting issues, and maximizing the software’s capabilities. QuickBooks users can invite an accountant to view their books, and QuickBooks Desktop users are able to export an accountant copy and import any changes the accountant has made to their file.

• In this lesson, you will learn how to set up key areas of QuickBooks like bank and credit card accounts, invoice templates, products and services, and the chart of accounts.
• The features and settings that you choose in this lesson will affect every area of QuickBooks.
• Its mobile app will use the GPS in your phone to sense every time you’re in a moving vehicle automatically.
• But if you’re new to QuickBooks (or perhaps you’ve switched from QuickBooks desktop version), you might be wondering just how to use it.
• QuickBooks hosting lets you access your desktop software anywhere through a remote server, and a good place to start would be our list of the best QuickBooks hosting providers.
• However you work, no matter what your business does, QuickBooks has a plan for you.

This lesson covers how to manage your bills and record expenses in QuickBooks. As a small business owner or manager, you know that managing expenses is as important as generating sales. By the end of this QuickBooks lesson, you will be able to keep track of expenses in a couple of ways. Through the Solutions Marketplace, Intuit encouraged third-party software developers to create programs that fill niche areas for specific industries and integrate with QuickBooks. The best QuickBooks product depends on your needs and the size of your business.

Smart features that help you save time

QuickBooks Online is a cloud-based software that can be accessed anytime and anywhere from any internet-enabled device and has monthly subscription options. Meanwhile, QuickBooks Desktop is an on-premise software that needs to be installed on the computer where you use it and is available as an annual subscription. For more information about the differences between the two programs, read our QuickBooks Online vs QuickBooks Desktop comparison. QuickBooks Online is a cloud-based product that doesn’t require software installation, allowing you to access your data from any computer with an internet connection by using your secure login. It’s available in four subscription levels, Simple Start, Essentials, Plus, and Advanced, and is ideal for any business without complicated job-costing requirements.

• This can help ensure that the correct tax amount is charged on each sale.
• If you don’t need accounting just yet, our new money solution offers banking, payments, and 5.00% APY—all with no subscription or starting fees.
• This allows them to undo the previous transaction without needing to manually edit individual transactions from within the register.
• By the end of this lesson, you will be able to manage credit card sales with either a QuickBooks Payments account integrated with QuickBooks or a third-party credit card processor.
• This report will provide you with the details of your current and past-due bills.

These integrated apps are designed to help you simplify the various aspects of your business, from bill management and payment acceptance to cash flow forecasting. However, because it’s integrated completely within QuickBooks, the sale, credit card fee, and cash deposit are all recorded automatically as they occur. Also, any expense entered can be marked as billable and assigned to a customer. As with time, these billable expenses will be available to add to the customer’s next invoice. You don’t need the payroll add-on to track employee time for billing purposes. You need at least QuickBooks Essentials to track billable hours and Plus to track billable expenses.

As you accept payment for any item in the inventory, the right expense account is updated and reflected automatically in taxable income. See how you can track and manage your whole financial picture in one place—from bank transactions, expenses, and beyond. One of the most straightforward accounting software I have used. There are apps that integrate with it, you can log in on your phone, [and] the data is easily accessible to both the client and the accounting team.

Get started with QuickBooks Desktop

Select ‘New’, then ‘Expense’ or ‘Other Expense’ for ‘Account Type’. Choose a ‘Detail Type’ and then add the name of your new expense category, including a description. This is the first thing you’ll see when you log into your QuickBooks account online, and it’s from the dashboard that you can navigate to everything you’ll ever need as a QuickBooks user. Spend some time looking at the different menus in the dashboard, getting to understand where you can find everything. The first step to learning how to use QuickBooks Online for a business is familiarising yourself with the dashboard. These free tutorials are comprehensive and educational resources designed to help you use QuickBooks Online for your business more effectively.

Employee Time and Expense Tracking

However, creating a solid accounting database in Excel requires a thorough knowledge of how to set up spreadsheets and all the formulas that may entail. QuickBooks offers a 30-day free trial period with all its plans. steps to take before you prepare your taxes However, if you opt for the free trial you lose the opportunity to save 50% on your first three months. As of this writing, QuickBooks Online was offering a 50% discount for three months on all subscription plans.

Find a plan that’s right for you

You can also track your business mileage and view financial reports from your smartphone. The QuickBooks Online mobile app is available for download on Google Play and App Store, but you need an active subscription to use its features. One of the best ways to improve your cash flow is to offer customers the option to pay their invoices online. You can add QuickBooks Payments (formerly known as Intuit Merchant Services) so that customers can pay online directly from their emailed invoice.

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You can also create an invoice from scratch or by converting an existing estimate into an invoice. Then, customize the invoice by changing the color and adding your company logo. The inventory management and job costing features are more robust in QuickBooks compared to QuickBooks Online. Even for payroll, which has a huge tax liability, taxes are calculated automatically every cycle. Tracking inventory as you sell them, entering the details in the right expense account and calculating taxable income at the end of the financial year can be very cumbersome manually. If you operate in multiple international locations QuickBooks allows you to accept payment in local currencies.

Welcome to Fit Small Business’ free QuickBooks Online tutorials. Each provides an in-depth lesson complete with text, examples, and a comprehensive video demonstration—designed to help you better understand how to use QuickBooks for your business. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. You may be interested in our review of QuickBooks Time for details of the solution’s pricing and features.