How to use QUICKBOOKS ONLINE

in this video I'm going to show you how to navigate your way around the QuickBooks online interface so that you can quickly get started with this software hey guys I'm James and welcome to accounting stuff the channel that teaches you all you need to know about accounting and bookkeeping in today's video I'm going to take you on a journey as together we explore the QuickBooks online interface so that you can learn where everything is and find your feet in this accounting software it can be rough times get in to grips with new software believe me I know I've had to work with a whole bunch of different accounting software packages during my time in public and private scouting if feels like I've been through it all from how come everything's in different places - why is it so hard to run a single report and the dreaded oh my god it's crash tab lost everything where ever yes anyway these issues can often lead to hours spent roam in the internet trying to find a solution so I decided to create this video to help budding QuickBooks users like yourself learn how to use the software as part of a playlist that you can find linked up here and down below in the comments I'm going to keep adding to this over time so subscribe and hit the bell to be notified when the next video is out like I mentioned today we're going to cover navigating the QuickBooks online interface your going to find out where to go to set up all of your company information to create new transactions search for old ones and how to run reports to help you make informed business decisions this is going to be a relatively quick tutorial so we're not gonna have too much time to get into depth on all of the features you can think of it more as a general overview to help give you an idea of how the software works let's jump right in first off I want to make sure that we're all on the same page if you already setup with QuickBooks Online then ace but if not no worries it's really easy to set up an account and if you use my link down in the description then you'll get yourself a free 30-day trial there are three choices to pick from simple start essentials and pass that offer varying levels of features I'm not going to get into the nitty-gritty right now but I think most people go for essentials because it allows quai ebooks to manage your bills and payments which can be a big time saver something that I'll touch on later if you'd like me to make a video reviewing each of these choices let me know down in the comments Pig was right for you try using the link and remember QuickBooks makes it really easy to upgrade in the future if you end up needing extra features great now the raw setup let's crack on welcome to the QuickBooks Online dashboard this is going to be your default home page each time you log in so let's take a look around up here you'll have your company name and logo today I'm using the US version of the sample company so all of the information that you can see in here is made up for test purposes on the left side of the screen we've got the navbar and above me all lined up in a row we've got the crate menu the search function and the gear icon these are what we'll be discussing today and together they'll give you access to everything you need in QuickBooks Online the dashboard also contains some nice handy summaries of your invoices expenses sales profit and loss and finally your bank accounts on the right which will get into shortly and by the way if at any time you find yourself wanting a bit more space on the screen then you can click on these three little horizontal lines to minimize the nav bar this can be helpful if you're working off a laptop the first menu item that I'd like to show you is the gear icon this is super important when you're getting started because it's here that you'll need to set up your company account and settings which will affect your quickbooks online experience from the gear menu you can also manage your users which basically means who can access your QuickBooks account the user limits change depending on which package you're using this can be really handy to share some of your workload over here you can also access your chart of accounts which is basically the list of all of the accounts in your general ledger these vary a lot from business to business so it might be worth your while getting an accountant or QuickBooks Online pro advisor to help you tailor these for your purposes I can't emphasize it enough that getting these right from the start will save you so much time and headaches down the road the gear menu is also where you can access your bank reconciliation which I'd recommend you do at least once a month this is where you reconcile the transactions between QuickBooks Online and your bank account to make sure that the information contained in here is accurate and up-to-date I've made a video explaining the theory behind bank recs that you can find up in the corner and I'll link to it below as well if we click through to account and settings this is where you can change your company name and logo bear in mind that these will be displayed on your invoices that your customers are going to see below that you can update your employer identification number if you're running a corporation or your social security number if you're a sole proprietor these are used when filing your taxes so again care is acquired when filling out this information beneath this you can change your company type so whether you're a sole proprietor a partnership or a corporation there is a tax form just for you select an option and enter your industry hit save and down we go here is where you can enter all of your business contact information your email phone number website and address QuickBooks Online lets you put in more than one if you've got a separate email or address that you want your customers to see again it's crucial to fill this out correctly because these contact details are going to show up on your invoices so your customers we use them to contact you if we exit out and head back to the dashboard then we can take a look at the create menu next the create menu is where you go to create new transactions in QuickBooks Online there are many types to choose from and to help us narrow them down into it have split them out into four categories based on who the transactions are with we've got the people we're selling to our customers the people we're buying from our vendors employees for payroll and other I'll run you through some of the most common transactions that are worth knowing about number one on everyone's list should be invoices we all want to get paid for the work we've done so this is your go-to place for billing clients we click through to access the create new invoice form or alternatively if you like using shortcuts hit ctrl option I for Mac's or ctrl alt I for PCs to get here from the dashboard this invoice form contains all of the fields that you need to create and send invoices to your customers or clients we won't linger here for too long because I've made a video covering invoices already that you can find linked in the top corner of the screen and down below in the description as well a useful thing to note here is that quickbooks online can be set up to automatically email your invoices directly to your customers as soon as they're completed this will help speed up your cash collection process X out of here or hit escape to return to the dashboard and we'll dive back into the create menu so we can invoice customers but next we need to manage our own bills and expenses these options are both found under the vendor column and whilst they might sound similar they're actually different you should use expenses for transactions where you've already paid for a good or service for instance if your expensing fuel that you bought from a gas station you filled up your tank and you've already paid for it so it goes in here the shortcut for this form is control option X or ctrl alt X it can be worth learning to use these shortcuts because they can save you so much time I've made a video on QuickBooks Online shortcuts that are linked to down below bills on the other hand are for situations where you've received a bill but you haven't made the payment yet I prefer to call them supplier invoices because you owe the supplier money but maybe that's just me usually the bill or supplier invoice will give you a due date which is when you're expected to make the payment by here in the form you can fill out all of the relevant details before hitting save and close to enter it into the system quit birds can also save you a bunch of time by allowing you to batch pay your bills and get all of those payments out in one go super-duper handy right the moment we've all been waiting for it's NAB bar time you've updated your company accounts and settings using the gear icon and you've entered some transactions in the create menu you can now start extracting some meaningful information out of QuickBooks Online this is where the software really comes into its own we already discussed the dashboard earlier so let's head to the banking tab next this is by far one of the best features of QuickBooks Online here you can add your business's bank account and then each day QuickBooks will download all of your banking transactions and allow you to categorize these as different expense types which will help you out when it comes to running reports simply pick a none categorized transaction select a category and hit add it's that simple within this tab you can also match each transaction that appears on the bank statement to the bills that you've entered using the create menu this is a big time saver when it comes to doing your monthly bank rec especially since QuickBooks will suggest matches based on date and dollar value no more wasting time tall through spreadsheets trying to do this manually you can also create Bank rules to automatically classify transactions that happen on a regular basis to save yourself even more time moving swiftly on to the sales tab here you'll find a list of all of your sales invoices that you've sent to your customers who you sold stuff to we can easily see the customer names due days and balance outstanding which is how much they still owe you for each invoice at the top of this list we have all of the open invoices that you're still owed money for and below that we can see all of the close ones that have been fully paid QuickBooks Online highlights overdue invoices in orange to make them easy to spot you can give them a call or send them a reminder to chase the payment if you're short on time moving on down the nav bar we have a tab for expenses this is where you can find how and where you've spent your money you have a list of all of your expense transactions and if we go to the vendors tab then you can see a list of everyone that you've bought things from and how much you owe them in the open balance column I can see that we have four bills overdue if you click on the orange bar we can filter down to show these overdue bills and you can make the payments directly from here this is an alternative to using the pay bills feature in the create menu if we head back to the nav bar the workers tab is where you're able to manage your payroll for employees and contractors this can be purchased as a separate add-on through the link that I've put in the description below that we have reports which is another of my favorite areas of QuickBooks Online here you can easily run a profit and loss to check on your business's performance which you can easily customize to change the periods that you want to look at and add a comparative column to hobb you analyze your results if we go back to the report list you can also run a balance sheet to check on your financial position an accounts receivable aging summary to help you spot overdue invoices that need to be chased and many many other useful business reports bear in mind though that you won't have access to all of these unless you're using the QuickBooks Online pass version having these reports at your fingertips is a real gamechanger when it comes to understanding your business and gathering evidence to help you make informed decisions there are many more useful things going the navbar but we won't be able to get into all of them today you can manage your sales tax within the taxes tab the accounting tab is just another way to access your chart of accounts and bank rec and in my accountants you can connect with your accountant if you have one and share important files with them I also want to point out the search function at the top of the page this is a great way for you to get a breakdown of all of your recent transactions that you can drill into to check and make changes if necessary you can also search for and quickly find older ones using transaction number date or amount thanks for watching if you found this video useful give it a like share it and don't get subscribe for more QuickBooks online tutorials I also have a whole playlist of accounting basics videos with new ones being added each week so you can check those out too if you've got any questions let me know down below in the comments or message me directly on instagram at accounting stuff and if you've made it this far and you've decided that QuickBooks Online is the right fit for you then remember to sign up using the link in the description for that free 30-day trial good luck keeping those books in order until next time [Music]

Channel: Accounting Stuff

Views: 350,554

Keywords: quickbooks, quickbooks online, how to use quickbooks, quickbooks tutorial, quick books, how to use quickbooks online, get started quickbooks, how to use quickbooks online 2019, how to navigate quickbooks online, how to get started quickbooks, quickbooks online tutorial, quickbooks online 2019 tutorial, quickbooks online 2019, navigate in quickbooks, what is quickbooks online, how to set up quickbooks online, quickbooks 2020, quickbooks online 2020, quickbooks tutorial 2020

Id: _FaVwf5GmNs

Length: 12min 19sec (739 seconds)

Published: Tue Mar 19 2019