In July, QuickBooks came out with some fresh features and updates to map up their game. That’s part of why we love them - they’re always looking for new ways to make the accounting experience a breeze for the user. Updates every month, handy new features, and new QB tricks are some of our favorite things! There are multiple ways to add bills and receipts to QuickBooks - Receipt Capture via SmartPhone, email firstname.lastname@example.org, upload them from your computer, or manually add them yourself.
At Skynar Bookkeeping, we like to work on our clients’ books the most efficient way possible - that includes using shortcuts when necessary to speed up a process. We save precious seconds not having to raise our fingertips from the keyboard! There are some simple shortcuts we suggest every QuickBooks Online user memorizes, as you’ll see they’ll come in handy as you do everyday tasks in the program. Print this out, reference it when necessary, and enjoy your increased QBO efficiency!
Summer is a time for fresh and new, and QuickBooks Online is keeping up with that by releasing five refreshingly cool updates and features to make your books an absolute breeze. We’re certain you’ve noticed at least one of these while working on your books this summer, and maybe you’ll discover a new feature today to implement tomorrow. Let’s dive in!
As a business owner, there will be times when you’ll need to give an employee a cash advance. This could be for one of two reasons: you purchased something for an employee with the agreement they will pay you back, or you’re giving an employee an advance on their check. Let’s go over how to do record these in QuickBooks Online. First, you’ll want to create an Employee Advance account (unless you already have one). If you often give out employee advances, creating sub-accounts would be helpful, using the employee’s name.
To Set-Up Employee Advances Account
When you’re in the Accounting tab of QB, click “New” and the Account template will pop-up, which you’ll set up accordingly:
Category Type → Other Current Assets
Detail Type → Employee Cash Advances
Name → Employee Advance
If you paid for something for an employee’s personal use, with the agreement that the employee would pay you back, you’ll need to start by recording it as an Expense. Under “account,” you’ll need to select “Employee Advance” using the drop-down arrow. Include a memo with the employee
Keeping track of stray receipts is messy, and logging them come tax season is time consuming. QuickBooks Online had previously allowed you to add attachments of receipts, but now it completely captures them for you with their latest feature.
New to QBO this month is a feature called Receipt Capture, and it does basically what it sounds like - it captures screenshots of your receipt. You simply snap a photo of your receipt and upload it to QBO where it will be stored digitally. Beyond that, QBO will sort your receipts into categories.
If you use QuickBooks Online (QBO), you probably know about the seemingly endless number of apps that are available for your use. You simply connect the app(s) to your QuickBooks Online account and all of your information will sync, so when you update information in one place, it’s updated everywhere else, as well.
These apps can help you with any number of things, but their main purpose is to make running your business easier. Would you like your payroll automated? There’s an app for that. Would you like your invoices to be synced to your calendar? There’s an app for that. Would you like to manage your inventory directly from your phone? Yes, there’s an app for that. Which area of your business is causing you stress? There’s likely an app for that.
QuickBooks is the number one accounting software used by businesses with 5.6 million users worldwide. Aside from he convenience, efficiency, and ease of using the program, they also have multiple plans to choose from so you can pick the one that’s right for your business. With differing features and purposes, each of these plans has its own benefits and not all companies should have the same plan. Four of the five plans are for managing your books, and the fifth is for the self-employed tracking their own expenses.
Something we love about QuickBooks is how much they appreciate their users. How do we know? They show us by staying up-to-date with new features to help make everyone’s bookkeeping quicker and easier. In case you missed it, here’s the rundown on the newest features added to QuickBooks through the first quarter of the year.
If you’re a small to midsize business, you need to be using QuickBooks Online (QBO) to manage all of your finances. QuickBooks Online makes life easier by helping you, not adding to the stress in your life. With just over 5.6 million users, it’s hard to deny it’s benefits.
So, what’s the big deal? There seem to be an endless number of efficient features in this accounting software, so we
QuickBooks will become your business’s most valuable player. And, as something you will be using on a regular basis, it’s important it’s perfect for you. Although both Desktop and Online assist you with your books, they don’t share the same characteristics or help you in the same way. In simple terms, QuickBooks Online is the internet version of QuickBooks Desktop. But, let’s take things a step further and break down the differences.
When it comes to your books (and just about everything else), it’s best to work smarter, not harder. Finding little tips and tricks to make your bookkeeping the slightest bit easier is like a little win each time you successfully maneuver your way through. Lucky for you, QuickBooks Online is plentiful with shortcuts that make your bookkeeping just a smidge easier each time you use one! Depending on if you’re a MAC or PC user, these shortcuts will be slightly different by only a couple keys. Don’t forget that these are specific for QBO, not QuickBooks Desktop.
QuickBooks (QB) has this useful (and great) feature called “Class Tracking” that allows you track your income and expenses. We know what you’re thinking - another great feature?! QB is just too good to be true, we know, but the best part is that it is definitely, very much real. And it’s customizable! If you’re ready to go beyond account-based tracking (we recommend you do), we know just what you need.
In our offices we spend our days on QuickBooks, both online and desktop. We’ve discovered different tips and tricks that help us complete our work and increase productivity due to how helpful and useful they are! These are useful not only to us, but also our clients. Take a look to see if one of these can make your QuickBooks experience the slightest bit easier!
Are you afraid of moving to the cloud? With technology so prevalent these days, it’s easy to overlook the safety and security of your business’ private information. The good news is you can rest easy knowing that QuickBooks Online (QBO) utilizes the same level of security as your banks, credit card companies, and other financial institutions. Because QBO is a Cloud Accounting Software, that means all your business’ information will be stored securely, safely, and reliably.
Some people may question the reliability and security of the cloud, but their worries should disappear knowing that an estimated 86 percent of companies use not only one cloud storage system, but many.
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At Skynar Bookkeeping, we utilize QuickBooks as our preferred accounting platform for many reasons. The first being it is the best accounting software for small and mid-size businesses—it is ranked number one among all other software for small business accounting. It is user friendly and can be used for any type of business. We strive to make our clients’ business lives easier and QuickBooks helps us do so.
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