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