Use QuickBooks Online more effectively! You'll learn how to avoid (and fix) common mistakes in QBO bank feeds, how to properly classify transactions, and best practices for recordkeeping. After working with hundreds of business owners and bookkeeping professionals, Alicia has seen all kinds of crazy bookkeeping. She's managed to distill those bad habits down into the top 10 mistakes people make in QuickBooks Online. She wants to make sure you don't make them, too! This hour and a half long course highlights the Top 10 best practices that you'll want to get right, saving yourself wasted time and money. We'll start with words of wisdom about setting up your account, and dialing in your chart of accounts and products & services. Then we'll look at recordkeeping, from receipts to understanding what qualifies as a tax-deductible expense. We'll finish up by taking a look at some of QBO's "quirks" so you know proper use of the software. It's important to implement these best practices right at the beginning of your QuickBooks file. It's a lot more expensive and time consuming to fix a file than it is to get trained to do it right in the first place! This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation, you will be able to...
- Recall which of QuickBooks Online’s settings are required for successful new file setup
- Recognize common errors that will prevent your QBO from getting cluttered with bad data
- Identify common Banking and Reconciliation errors.
- List best practices for managing receipts and meals.
Major Topics
The major topics that will be covered in this course include:
- Customizing your settings
- Refining your Chart of Accounts
- Creating your products and services
- Managing your vendors list
- Meals vs. owner draws
- Using undeposited funds
- Proper use of the banking feed
- Maintaining supporting documentation
- Reconciling properly
- Getting help when you need it
