Thursday, March 31, 2011

Need Help Deciding on QuickBooks Online Simple Start, Essentials or Plus...

This video will explain with examples and tips and help you decide as to which version of QuickBooks Online  to purchase. The choices are:

1.QuickBooks Online Simple Start
2.QuickBooks Online Essentials 
3.QuickBooks Online Plus 

Sunday, March 27, 2011

QuickBooks Online and PayPal

The other day Intuit announced that they have an interface with PayPal and Bill.Com. I have tested the interface and found this tool to be very useful and  can definitely automate some of the daily manual tasks that are inherent in recording accounts payables, and paying them.There is a charge for this service, which is currently $9.99 per month and $.99 for each electronic payment.As far as the PayPal interface, its a little disappointing  because its currently not operating and there is no information on its monthly cost, if any?, emphasis added.

Monday, March 21, 2011

QuickBooks Online Budgeting - How to Get Year to Date and Current Month Actual vs Budget

The question of how to customize the budget option in QuickBooks Online is a common question. Here is my shortest video ever that will show you how to customize your budget to get current month and year to date information for actuals as compared to budget in less than two minutes.

Sunday, March 6, 2011

How to Enter Vendor Bills using QuickBooks Online

Accounts Payable Preferences

The first thing you need to do is to turn on the accounts payable feature in the preference section and then  watch my  short video, see below. 

The following is a list of the procedures to you need to perform to set  up this important preference.
1.     Choose Vendors > Manage Bills.
2.     This will bring up a Mini-Interview window.  Say Yes to the question "Do you want to keep track of bills you owe, but wait to pay them later?".
3.     Click Finish.

Once this feature is turned on you will be able to use the QuickBooks Online accounts payable features in your business.

The video below will show you how to enter a bill into Accounts Payable using QuickBooks Online. Just in case you need the instructions I have included  the instructions to enter a bill below:

Choose Vendors, then select  Enter Bill.
1.     Vendor- The company that you owe the money to.
2.     Ref # - Enter the invoice #
3.     Amount Due - total amount of money you owe on this bill.
4.     Terms - when the vendor expects payment. For example: "net 30" means payment is due in 30 days, that is 30 days after the invoice date.
5.     Due Date - calculated based upon the Terms you have listed.
6.     Memo - note on the bill. This will not appear on the bill payments.
7.     Account Enter the category that the bill should be charged to i.e. supply expense,insurance expense
8.     Click Save.

Procedure - Bills are generally  processed by a bookkeeper  who enters them as payables in QuickBooks. These bills should be  paid every week or every two weeks.

Tip  - Bills should be approved by management or the owners  prior to their entry into accounts payable by the bookkeeper.  The approved invoice or billing should then be attached to the check and presented to management for signature when processing the bill for payment. This procedure and related approval can be performed either in a paper format or paperless format. If  there is no prior approval of the bill before entry into QuickBooks payables  there is the risk that unauthorized payments may be processed and paid.  

Tuesday, March 1, 2011

QuickBooks Online Plus Auto Fill Feature

This video will address a topic that I took for granted for companies using QuickBooks Online Plus or Essentials until a client today,expressed her frustration when entering a vendor bill.She was accustomed to QuickBooks Pro and the learning curve was frustrating here. So I thought other people might also be having a similar issue.  Using the auto fill feature to search and populate the following fields in QuickBooks Online Plus.

  • Vendors
  • Customer
  • General ledger accounts
Please view this short video for using  QuickBooks Online Plus or Essentials to see the two alternatives that you can select within the preferences and how to do it .