What is QuickBooks, and how does it work?

If you have international transactions, you can add your Wise Business account details to the invoice to get paid with ease. Bill Pay allows you to pay any bill – including vendors or freelancers – from within the platform. Adding account details and direct payment links to your invoice is a great way to get paid faster. Depending on your business, this could be set to immediate payment or payment on a specific date. Adding the company logo adds a professional appearance to invoices.

QuickBooks Desktop offers the same support options found in QuickBooks Online including video tutorials, on-demand webinars, and various training options. Both applications also include an easy setup process, so you can be up and running in little time. QuickBooks is an easy-to-use accounting software that can help you automate tasks such as bookkeeping, invoicing, expense tracking, inventory management and more. We have been an industry leader for 40 year and are trusted by over 7 million customers globally. Whilst you’re updating your company information, you can also tweak your financial preferences in this part of your QuickBooks Online account from the sales, expenses and advanced tabs.

How to add and pay bills

If you’re a small business owner with global ambitions, you may need assistance with international payments. You can even scan and store receipts and track mileage through the mobile app. This allows you to keep track of any potential tax deductions and store all the information in one place.

  • You don’t need anything saved on your computer, and there are no disks to load.
  • There should not be any additional charges for participating in the course.
  • Q&As from the QuickBooks community can help answer specific questions.
  • Her writing has also appeared in NewsWeek and Huffington Post.
  • For example, you can manage both your cash inflow and outflow activities.
  • Now that business is expanding, get tools to simplify new demands and set everyone up for success.

The QuickBooks Multicurrency feature helps you track transactions in different currencies. Features are geared towards freelancers, small, and medium-sized business owners. It is available as a desktop software for Windows, with several editions.

QuickBooks Online Advanced supports the upload of 1000 transaction lines for invoices at one time. 37% faster based off of internal tests comparing QuickBooks Online regular invoice workflow with QuickBooks Online Advanced multiple invoice workflow. Find help articles, video tutorials, and connect with other businesses in our online community. Using this payroll guide, we’ll walk you through the entire payroll process step by step. Keep reading to learn about the different processing methods you can choose from.

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If you just need to start fresh from a previous reconciliation, you can get your accountant to reverse the current one. These free tutorials are comprehensive and educational resources designed to help you use QuickBooks Online for your business more effectively. Each course provides detailed step-by-step guides through a combination of comprehensive text instructions, practical examples, and video demonstrations.

This is especially true if you use the online bank connection feature. Doing so can save a lot of time in managing transactions and receiving payments – as long as you use the bank connection (feed) feature properly. You then enter the details of products and services supplied and select the sales tax. You want this to be accurate but also appealing and easy to understand.

Most of the QuickBooks Online subscription levels also offer multi-currency features. This is useful for businesses working with international customers and suppliers. To add employees to your payroll, head to ‘Employees’ from your dashboard. Note that all employees will have the standard pay policies and deductions you’ve already set up, but you can also choose to add them when you add employees instead. You’ll be guided through the process as in this video below to set up their tax information, salary details, and other information like their pay schedule. Once you’ve added this information, head to ‘Accounting’ from the setup overview screen, then choose ‘Company and Account’.

Managing Business Credit Card Transactions

But it works differently from other accounting software packages. You’ll be relieved to know that QuickBooks offers flexible payment solutions. As a cloud-based service, all your data will be backed up automatically to Intuit’s servers, along with the data of all other QuickBooks Online users. This means you will real, personal and nominal not need disk space as you would with the desktop version. Nearly 70% of business owners who have been there, done that, recommend writing a business plan before you start a business. Intuit reports that 94% of accounting professionals feel QuickBooks Online saves them time and thus saves their clients’ money.

How to use QuickBooks

QuickBooks Online is a cloud-based subscription service that gives you access to the software from wherever you are. You can use any device that has internet connection to login to your account. QuickBooks is accounting software designed for keeping track of income and expenses.


If you plan to use the Multicurrency option, you must ensure that the home currency is correctly set first. It is essential to set whether QuickBooks will use cash or accrual accounting methods. You can link QuickBooks to your bank account to have your account transactions uploaded to QuickBooks automatically. Your accountant can then navigate to the main “Reconcile” page and select the “History by account” button on the upper-right corner. This allows them to undo the previous transaction without needing to manually edit individual transactions from within the register.

Managing Banking Transactions

Find out how the Chart of Accounts is used to build financial statements. QuickBooks Desktop offers more than 100 standard reports that can be customized as needed. All reports can be exported to Microsoft Excel for customizing, viewing on screen, printing, or emailing directly to recipients. QuickBooks Online and QuickBooks Desktop have very different pricing structures, with QuickBooks Online available by a monthly subscription, while QuickBooks Desktop has an annual cost. Ease of use is one of the most important things to consider when shopping for software. Neither QuickBooks Online or QuickBooks Desktop are difficult to use, although they offer very different user experiences.

If you’re using QuickBooks Payroll, it has the tax reporting functionality needed to walk you through this process, although you’ll still need your federal and state ID numbers. Our free QuickBooks tutorials will teach you the basics you need to know to start keeping the books for your small company or employer. Don’t be intimidated by the size of the tutorial―take one lesson or tutorial at a time. You will be able to manage all of your downloaded banking transactions by the end of this lesson. You will also understand how to enter basic banking transactions manually.

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