QuickBooks Online is a widely used accounting software used by numerous accountants and tax professionals. It comes equipped with many valuable functions and nifty shortcuts. Here are our secret QuickBooks tips, tricks, and shortcuts to enhance your productivity with 5x.
You can upload credit card and bank statements in the attachments folder. This way, the month-end and year-end calculations would become a lot less complicated. The documents will be available in the formal reconciliation where you and other accountants can access them. To make identification easier, use a nomenclature, e.g., name of the bank/DD/MM/YY.
QuickBooks offers the option to have certain documents automatically emailed to you. You can have a collection or sales report and have it mailed to you every week. This way, you can take care of open invoices without any bother. Also, you can schedule financial statements and get them emailed to you every month.
Not only this, but you can even schedule recurring invoices and get them emailed to you regularly. If you use QuickBooks payments, then the money paid by customers and the fee will get logged by default in QuickBooks. Thus, you can automate the sales process.
Managing everything from the sales center without making any changes in the report makes it easier for users. You should maintain a list or journal of cash transactions in the sales transaction list. To do so, click on the filter drop-down menu. Then the money received option & change the date.
QuickBooks has numerous keyboard shortcuts, which makes things quicker and simpler.
QuickBooks allows you to set up bank rules for everyday expenses like regular suppliers or vendors, utility payments, and so on. If you set up the bank rule to auto add, you won’t need to review it.
Time tracking can be quite time-consuming. QBO makes it easy to review and approve the employee time. Thus, you can export the time from your site to QuickBooks. Seamless integration makes it more convenient to approve multiple timesheets at the same time.
You can also create multiple timesheets inside QBO quite easily. Any modification you make will be in sync with your sheet. This enables you to approve and manage employee timesheets, create invoices, and run payrolls promptly using your QuickBooks account.
Recent versions of QuickBooks offer a wide range of customization options. The interface is equipped to support various customizations. For an older version: go to ‘edit,’ then ‘Preferences,’ and choose ‘Desktop View.’
Often, different accounts are created by employees for separate tasks. In such a situation, you may find that your QuickBooks file is linked to many individual accounts. This can happen when several customer accounts are made erroneously. Merging can prove to be quite handy here.
These QuickBooks Online tips and shortcuts provided above will become easier for you to execute with lesser time. They will prove useful in handling your work efficiently and effortlessly. myCPE regularly conducts live and self-study webinars on various QuickBooks courses on a topic like progress invoicing and job costing, banking feed, and reconciliation, tips - tricks and shortcuts, building charts and many more for the accountants at cost-effective rates. https://quickbooks.intuit.com/
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The author, Mr. Gamble is the Owner and Managing Partner of Gamble and Associates, LLC, which is a CPA firm that provides accounting, tax and business consulting services to high net-worth individuals, and Small Businesses such as Sole Proprietorships, Corporations, S-Corporations, Partnerships, LLC’S and Trusts.