QuickBooks

Online

by Venkatesh & Nikhil

Contents
1. Introduction to QuickBooks
Online .................................................................. 2

Which QuickBooks Online is right for me? .................................................................... 6

QuickBooks Online Packages Available ........................................................................ 6

Benefits of using QuickBooks Online ............................................................................. 7

Mobile devices and QuickBooks Online........................................................................ 7

Our case study for today’s training ................................................................................. 8
2 Navigating QuickBooks
. Online ........................................................................ 9
Navigating the QuickBooks Online Home Page........................................................... 9
3 Company File
. Setup ....................................................................................... 13
Sales Tax Setup................................................................................................................ 14

Accounts........................................................................................................................... 14

Using the Tax Centre ...................................................................................................... 15

Managing Users .............................................................................................................. 19

Multi-Currency ................................................................................................................. 22

Importing Data ................................................................................................................ 17

Customers Import ........................................................................................................... 24

Products and Services .................................................................................................... 25
4 Online
. Banking ..............................................................................................
Linking
27 Bank Accounts & Importing Bank transactions..............................................
27

Linking Bank Accounts or Credit Cards for Automatic Bank Feeds .........................

29 Importing Bank Transactions ......................................................................................... 30

How to Add Transactions ............................................................................................... 31

How to Match Transactions............................................................................................ 31

Processing Transactions - Debits .................................................................................. 31

Processing Transactions - Credits ................................................................................. 32

How to accept multiple transactions in batches ......................................................... 32

Adding Attachments to Transactions ........................................................................... 32

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 Setting up Bank Rules ..................................................................................................... 33
5 Transactions ..........................................................................................
. ......... 34
Creating and Managing Quotes ................................................................................... 34

Creating and Managing Invoices .................................................................................. 36

Receiving Payment of Invoices ...................................................................................... 37

Customising Invoices...................................................................................................... 39

Attachments ..................................................................................................................... 39

Expense Transactions ..................................................................................................... 40

Bills .................................................................................................................................... 41

Paying Bills ....................................................................................................................... 41

Recurring transactions .................................................................................................... 42

Class and Location Tracking .......................................................................................... 43

Turning on Class Tracking and/or Location Tracking ................................................ 43

Partial Purchase Orders .................................................................................................. 44

Create a Partial Purchase Order.................................................................................... 44

6. Bank
Reconciliation.....................................................................................
47
7. Running
Bank
ReportsReconciliation …………………………………………..
..........................................................................................
……………………………………
Profit
51 & Loss / Balance 47
Sheet ......................................................................................... 51

Customising Reports ...................................................................................................... 52

Report Groups ................................................................................................................. 53

Automated Reports......................................................................................................... 54

8. Video Tutorial
Links..................................................................................... 55

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 1. Introduction to QuickBooks Online

Which QuickBooks Online is right for me?

Every small business has different needs. We find the industries most suited to cloud
software and product like QuickBooks Online include:
Appointment based businesses that offer services by appointment, such as a
doctor’s office, salon or driving school.
Retail and eCommerce businesses that sell or resell products, such as food trucks,
eBay sellers or coffee shops.
Professional and field service businesses that get paid by the project, job or gig,
such as contractors, photographers or wedding planners.

QuickBooks Online Packages Available

There are three versions of QuickBooks Online. A plan can be chosen to suit the
requirements of the business.
Each offering provides features relevant to the selected plan. Further details on
the features available under each product version can be found at
[Link]
The number of business users allowed varies per plan.
Simple 1 user
Start 3
Essentials users
Plus 5
You can also invite in your Accounting or Bookkeeping professional. These
users
invites are not included in the Business user allowance. Accountant/Bookkeeper
Firms allowed are 2 users across ALL plans.

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Benefits of using QuickBooks Online
When you work online you will both have access to everything the cloud can offer
and the benefits that come with it. These include:

Mobile devices and QuickBooks Online

QuickBooks Online is available via browser across several mobile devices
including iOS and Android.

We encourage you to download QuickBooks Online from the app stores

listed below..

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Our case study for today’s training
Jay Reyes, Jay’s Coffee Co.
Jay Reyes is the new owner of Jay’s Coffee Co. For
the past 5 years he has honed his skills working
for others.
He has always dreamed of starting his own
business.
After months of planning, Jack has decided that
now is the right time to start. Jack has done his
research and there aren’t many coffee shops in
his area. It is a great place to start a business.
Jay has asked around about how he could
manage his bookwork and his previous boss
suggested he sign up to QuickBooks Online.
Jay is looking for the following in a software
package:
 Ease of use
 Timely information for decision making
 Build for use on mobile device
 Extensive reporting

Today Jay will feature in our demonstration and training exercise throughout the
course of this class.

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 2. Navigating QuickBooks Online
QuickBooks Online has been designed to be intuitive, fast and simple to use. The
user interface is simple and unified, which results in fewer clicks to find the desired
information or functions.
You can sign into your QuickBooks Online file from the
[Link]
website.

Navigating the QuickBooks Online Home Page

1. Open your preferred browser and type [Link]
2. Click on the Sign In button located in the top right hand corner and select
QuickBooks Online

3. Enter your QuickBooks Online User ID and password and

select Sign In.

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The Home Page displays a summary of key information. A new file setup would
display as below with no transactions.
Company settings are in the top right corner of your QuickBooks Online screen,
accessed by clicking on the Gear icon. We will cover this in Company File Setup.
To access the Help function, click on the question mark icon next to the company
menu in the top right corner. This is covered in the final chapter Help and Support.

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The Create button in the top right corner of the screen gives quick access to
create new transactions and other records:

Search – Use this feature to quickly look up QuickBooks Online transactions by

number, date, or dollar amount. The Advanced Search feature provides additional
filter options.
Recent Transactions – Use this feature to display a list of recently recorded
transactions, each of which can be opened by clicking into the search box.
Show less - The Create window also has a simplified view accessed via the show
The left-hand navigation bar provides access to:
less option.

Dashboard displays a summarised view of relevant information in a

graphic mode. This view can change depending on your data

Banking displays your linked bank feeds and bank rules

Sales shows transactions including Invoices, All Sales, Customers and

Products and Services

Expenses shows all purchase related transactions and supplier details

Employees provides access to the employee related processes.

Reports provides access to the reports available in QuickBooks Online.

Taxes allows you to add tax to your invoices and track taxes you owe.

Accounting includes the Chart of Accounts and tools to reconcile your

relevant bank accounts.

When signed in as an Administrator the Apps menu will access featured

applications and add-ons to QuickBooks Online from this page.

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Clicking the Hamburger icon will collapse the left menu, which is handy if you need
some more screen real estate.

The rest of the Dashboard can display:

Bank Accounts – Connect and review accounts and
balances Activities – Transactional activity can be
reviewed and filtered Panels – will give you an overview
of key metrics in your business
Privacy – In a public location, the Privacy option can be
turned on to hide financial information

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 3. Company File Setup
Many options for customising QuickBooks Online can be accessed by clicking on
the Gear icon
in the top right corner.
You can customise the options regarding how QuickBooks Online operates based
on the best fit for your business in Company Settings. To access this area, click
Gear icon > Settings > Company Settings.

You will also find many other tool and customisations options from the
Gear icon.

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Sales Tax Setup
QuickBooks Online can automatically track your sales tax for you through the Tax
feature. To use the tax feature, you need to first turn it on and then create your tax
codes as necessary.
In this section we will cover setup, how to use tax centre and reporting.

Here are the steps to setup your Tax centre:

1. Select the TAXES option from the left hand navigation menu.
2. Click Set Up tax

This will display the Set up Sales Tax screen

3. Select the correct Tax Name, tax period, filing frequency, reporting method,
sales rate, and purchase rate

4. Click
Next

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Using the Tax Centre
If you need to make changes to the setup information, there is an Edit settings
button available in the next screen.

Here you can change the Tax agency name, the start of tax period, and filing
frequency.
Note: Please note that once a rate has been created, you cannot delete the rate. If you need to
change that rate, deactivate the rate and then create a new one.

If you need to change a tax rate, we recommend you create a new tax rate instead of updating an
existing one because the existing rate may have been used on prior transactions and changing the
rate could affect your sales tax tracking.

Please note that you can't have two rates with the same name. To solve this, rename the deactivated
rate something else. Then, make a new tax rate with the correct name.

Once the settings are saved, the Tax screen will display the Tax due, the amount
collected and paid for the current period, andthe Prepare Return button.

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Add Group
Rate
Important: Group tax, once created, cannot be edited or deleted.

1. In the Tax Centre, select Add Tax.

2. Select "Group Rate" and then select Next.

3. Enter the Tax Code and Description.

4. Select the Tax Rate and where it applies to Net, Tax,

or both.

5. Select Done.

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Accounts
To track the transactions and balances for key reports like the Balance Sheet and
Profit and Loss, QuickBooks online uses a list of accounts, or Chart of Accounts.
The setup process will create a generic Chart of Accounts which can be
customised.
Manually add an Account
Locate the Chart of Accounts, select the Gear Icon > Your Company > Chart of
Accounts.
Select New from the top right hand corner. This opens a new screen where the
account can be configured.

Category Type - specifies the account

type.
Note: Cash and cash equivalents is used for setting up Bank Accounts. Credit Cards are set up as
Category Type - Credit Card. Typically, Expenses are coded as ‘non-capital’ and Asset purchases are
coded ‘capital’. Out of Scope refers to accounts and transactions that are not reportable. e.g. Owner’s
Drawings.

Detail Type - provides more detail on the Category type selected. It is a compulsory
field although it does not affect any financial reporting. Select the detail type closest
to the account being set up.
Name - this is the name of the Account being set up. It is what is seen in the Chart of
Accounts List.
Number – An optional account number.
Description - allows greater detail of the name to be added and is optional.
Is sub-account - place a tick in the sub-account selection field to make the account
being set up a sub-account of another account.

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Default Tax Code - select the appropriate GST coding for the account
being set up. To update the Chart of Accounts you would click Save and
Close.
Note: An alternative way to navigate to the Chart of Account is via the Accounting tab from the left
hand navigation bar.

Managing Users
The number of business users allowed varies per QuickBooks Online
subscription selected.
Simple 1 user
Start 3
Essentials users

Plus 5
You can also invite two Accounting or Bookkeeping professionals. These
users
invitations are not included in the Business user allowance and are available for
all subscription plans.
To manage users, select the Gear icon > Your Company > Manage Users.
Here you can see the list of users names, email, status, date added and whether they
are billable. Manage Users allows creation, modification or deletion of business
users in the QuickBooks Online file.

To add a new user, select Add User and from here you can select your user type
and choose their access rights

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User roles
When creating or editing a user, assign one of the following types of access rights:

Company Company Administrators have access to all features and

Administrat capabilities in QuickBooks.
or
Standard User This is an ordinary user. The person may have
access to all QuickBooks features, or you can limit
access to:

Customers and Sales

Suppliers and

Purchases

You can also choose to give this user some

administrative capabilities.

Administrator You are the Master Administrator. There is only one Master
Administrator. Initially, it is the user who created your
company. This user has all the access rights of a Company
Administrator. You cannot delete or change the access
rights for the Master Administrator. However, you can
transfer the Master Administrator role to another user and
then edit or delete this user.
Time When Time Tracking Only users log into QuickBooks,
Tracking they see a special version that has only timesheets for
Only themselves and time reports. This user doesn't count
toward your current user limit.
Reports Only When Reports Only users log into QuickBooks, they see a
special version that shows only reports. They can access
virtually all reports, except payroll reports and any others
that list contact information of employees, customers, or
vendors. This user doesn't count toward your current user
limit.
Accountant user You can also identify one user as your accountant. The
accountant does not count toward your current user limit.

The accountant user can have any of the access rights,

but you probably want to give your accountant regular
or custom access.

You can have only one user identified as your accountant,

but you can invite another accountant to access your
company. To do this, under Accounting Firms, click Invite
Accountant. This user does not count toward your user
limit.

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A Standard user can have access to all features, or access can be limited by:
 Customers and Sales
 Suppliers and Purchases
For example, a Standard User with restricted access to Sales Centre is set up as
below:
1. In the Manage Users window, select New
2. Select Regular or custom user

3. Select Next.
Set this new user’s access rights as Limited for Customer
& Sales

Set the user

settings

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Note: The Standard user role is the only user access role where you can set restrictions on to
the billing, user management and settings section of the product.

To complete the user invitation setup, enter user’s email address and
select Next
An email will be sent out to the new user to enable the activation of their
account.

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Multi-Currency
If you do business with foreign suppliers and/or customers, QuickBooks Online can
be set up for multiple currencies. Click on Gear icon > Accounts and Settings >
Advanced.
Click on Currency to open the Currency Centre. The default Home Currency is set to
US Dollar. Place a tick in the box next to Multicurrency and tick I understand I
can’t undo Multicurrency. Save.

Once turned on, the Currency Centre will also be found under the Gear
icon > Lists. You can add, edit and revalue currency from the Currency
Centre

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Importing Data
If you are currently using another accounting software program, go to this link for
the latest information on conversion options.
[Link]/accountants-and-bookkeepers/convert-client-data
Sometimes the accounting data in your current file cannot be cleaned up in a
reasonable timeframe. In these cases, importing your data is a great option to start
with a clean accounting file. To import data:
Go to the Gear icon > Tools > Import data and select the type of data you would
like to import.

Note: Download a Sample File to use as a template for correct file mapping. File types for import must be
of .xlsx or
.csv file type.

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Customers Import
1. Select C ustomers.
2. Browse for the File to be imported.
3. On ce the import file is chosen, Next
4. Review the fields (columns from import file) to ensure they are matched correctly
with QuickBooks Online fields for Customers. If necessary, change the mapping
of any field, and select Next.

5. Review the list and make any corrections if required, directly in the preview screen.
Click on
Import to finalise the file import.
Suppliers Import
To import Supplier data into your QuickBooks Online company file, follow the same
process as above. Remember to select Suppliers when specifying the type of data
to be imported.
Chart of Accounts import
To import Chart of Accounts data into your QuickBooks Online company file, follow
the same process as above. Remember to select Chart of Accounts when
specifying the type of data to be imported.
Products and Services
To import Products and Services data into your QuickBooks Online company file,
follow the same process as above. Remember to select Products and Services
when specifying the type of data to be imported.
Note: to complete the import process, the Chart of Accounts list must be imported prior to the Products
and Services list.

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 4. Online Banking

Linking Bank Accounts & Importing Bank transactions

Linking bank and credit card accounts to QuickBooks Online saves time and
reduces errors by downloading transaction’s directly from your accounts from a
secure online connection
Transactions can be imported by either
1. Linking the accounts via automated bank feeds
Once a secure connection has been established with your bank, transactions
will automatically transfer or “feed” directly to your QuickBooks Online
Company file.
2. Downloading a bank file from your online banking system
Alternatively bank transactions can be imported manually. Download the data
from your bank or credit card and then upload the file to your QuickBooks
Online account. Import files must be in the format of excel CSV
These two methods can be used independently or together. The bank automatic
feed option will bring through up to 90 days of transactions.
If additional days are required, the balance of dates can be imported in via a bank file
e.g. .csv file
Once these transactions have been imported, QuickBooks Online will instruct you
to do the following:
 Automatically match these imported transactions with a transaction you
have already recorded
 Record as a new transaction by allocating it to an account and a payee’s
name
 Recall how you managed a similar transaction previously. It will suggest
allocating it to the same account and payee again.

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Products and Services
This section takes us through how to set up products and services list in QuickBooks
Online. The products and services list represents the list of products and/or services
that you sell. You will use items from the products and services list when you create
customer invoices, enter purchase orders, and work with inventory.
When completing an invoice, a product or service must be created. This can be done
on the fly.
Note: Inventory Item will only display as a selection option in QuickBooks Online Version Plus and if
Inventory Tracking has been turned on.

When setting up a new file, the default Products and Services created by default are
‘Hours’ and ‘Services’. Additional Products and Services can be manually created.
To locate the Products and Services list, select the Gear icon > Lists > Products and
Services.

Select New from the top right of the screen.

Once the appropriate type has been selected, complete the setup
process.

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Name - the name of the service, such as consulting services, repair, cleaning, etc. The
name must be a unique name.
SKU - Stock Keeping Unit number. An individual type of product will have its own
individual SKU number.
Category - is a means of classifying Products and Service sold to customers.
Additionally, categories save you time when completing transaction forms, since you
can search for items by category
Sales Information description - Enter the description of the service in the
“Description on sales forms” field. The description will automatically populate the
description field on a Sales form.
Sales Price/Rate - Add a price in this field if the price is fixed. The price will
automatically populate the ‘Rate’ column on a Sales form. If a price is not added
during the setup process, it can be added directly in the Sales form.
Note: Inclusive of Tax - the tick box is selected if the price entered is to include Tax

Income account
Select an ‘Income’ account type that is associated with this product or Service. Pay
attention to the account being selected to ensure it is an Income account.

Note: the income accounts need to be setup PRIOR to Product and Service setup.

Tax – select the relevant tax code for income

Purchasing Information - tick the select box if the Product or Service being set up is
also used for Purchasing. Set up as required.
To exit the screen click Save and Close.

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Linking Bank Accounts or Credit Cards for
Automatic Bank Feeds
From the left-hand navigation bar select Banking. Ensure you have the
Banking Tab selected.

Click on Add account. Locate your financial institution by selecting the relevant icon
or by typing its name and clicking the magnifying glass.

Enter your Banking Institution User ID and password to enable QuickBooks Online to
connect to your bank account.

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Note: If your bank or financial institution is not listed or if you prefer not to have your bank account
linked, you may also download your transactions from your bank in a csv or other file format and then
upload them into QuickBooks Online manually.

1. Once connected, tick the bank accounts to connect to QuickBooks Online. Then
choose the Account type (Bank or Credit Card) from the QuickBooks Account
drop down list provided.
2. Click on Connect to download the transactions
3. Once your transactions are securely downloaded, click I’m done, let’s go.

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Importing Bank Transactions
An alternative to linking your bank accounts is to import bank transactions that have
downloaded from Internet Banking from the Bank. Once this file has been
downloaded:
1. Select File upload from the Banking screen.
2. Browse to locate the file to upload. Select Next.
3. From the drop-down list of accounts in QuickBooks Online, select the appropriate
bank account to which the file’s transactions are to be linked, then uploaded and
choose Save.
4. A message will appear indicating that your bank data has been saved.
5. Click Finish.
Once the transactions are imported into the Banking centre, the transactions are
ready for review and action.
There are three tabs in the Banking centre

For Review
New transactions will appear under this tab where they can be reviewed and
actioned.
Transaction in this tab do not affect the financials in any way. It is only once they are
actioned that they appear on the banking registers and impact the financials.
Reviewed
Transactions that have been actioned will now appear under this tab and
transactions are now found in QuickBooks Online
Excluded
Transactions that are not required to appear in the banking register can be moved
from the For Review tab to Excluded. Transactions that have been excluded have
no impact on the QuickBooks Online file.
For example - a new file created from July 1 connected to the bank feeds has
brought through June transactions. Those transactions up to June 30 can be
excluded, leaving only those from July 1 onwards only.

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How to Add Transactions
Once banking feeds are connected or transactions have been imported into
QuickBooks Online, you are ready to Match or Add the transactions.
All the downloaded or imported Transactions will appear under For Review tab. To
add a transaction, click on the transaction to expand it. Allocate the type of
Transaction, Supplier or Customer, Account Category, GST and click Add

You can also Split a transaction to allocate it against multiple Account categories and
or separate tax and amounts.

How to Match Transactions

QuickBooks Online will offer to match the transaction to the bank detail, the
transaction date, amount, customer and or supplier name or the ID of the
transaction.
To accept a Matched transaction, click on the Match button at the end of the row
under the Action column.

Processing Transactions - Debits

Debit transactions will default to Expense unless matched to an existing Bill or Bill
Payment. The Expense selection can be changed to Cheque or Transfer transaction
types. The transfer option is useful when transferring money from one bank account
to another, drawings entry, loan account, or payroll clearing.

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Processing Transactions - Credits
Credit transactions will default to Deposit unless matched with an Open Invoice or
Invoice payment. The Deposit selection can be changed to Sales Receipt or Transfer
transaction types. The Transfer option is useful when transferring money from one
bank account to another, drawings entry or loan account

How to accept multiple transactions in batches

To accept multiple transactions at the same time, select the transactions you wish to
action (either select individual transaction by clicking the tick box at the left, or select
the tick box at the top to select all transactions), and then under batch actions select
Accept Selected.

Other batch actions include:

 Exclude Select – Transactions will be excluded and not imported into QuickBooks
online.
 Modify Selected – Allows you to modify multiple transactions all at once.

Adding Attachments to Transactions

Transactions that have not been Matched to an entry can have an attachment added
to it during the bank Add process. Browse to the file to attach.
If using the QuickBooks Online Mobile APP to take a photo of an expense this will be
seen under the Attachment area.
Note: only one file can be added from the Banking screen. Additional attachments can be added by
opening the transaction once saved.

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Setting up Bank Rules
Bank Rules allows greater control of bank transactions as they are added to the
QuickBooks Online Company.
Bank Rules can be defined via Money In or Money Out and the bank account the
transaction it relates to (if you have more than one bank account).
The transactions can be identified using separate conditions using
 Bank Text, using the logic of Contains or Doesn’t Contain
 Description using the logic of Contains, Is Exactly or Doesn’t contain.
 Amount using the logic of Equals, Is greater than, Is less than or Doesn’t
equal
Up to five separate conditions can be added.
To complete the rule, allocate the Payee, categorise it, apply a tax code, or apply a
class and/or Location. In addition, you can add a memo to the transaction.
Example of Creating a new Bank Rule
1. In the new window click on the box in the top right called New Rule

2. Enter a rule name, call it O fficeworks

3. Select if this is for Money In or Money Out transactions. Set it as Money
Out
4. Select the bank account the rule will relate to
5. Select the appropriate conditions to meet the rule
6. Then select the appropriate actions.
7. Optionally choose a Location and/or Class and/or Memo.
8. If transaction is to be added into the file choose Automatically add to
my
Note: books Automatically added will not be found in the review tab
transactions

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 5. Transactions

Creating and Managing Quotes

Estimates are easy to create and customise in QuickBooks Online. Before creating
the first estimate, double check your company file setting is correctly completed. e.g.
set up for tax, quantities, custom transactions etc.
Creating Q uotes
Estimates can be easily accessed from the Create or Quick Create menu. To create a
Estimate:
1. Go to Create > Customers > Estimates.
2. Complete the on-screen estimate, including selecting a customer, add date,
estimate number, whether amounts are tax inclusive/exclusive/out of scope,
Products and Services of your choosing, the quantity, description and rate for
each.

3. Add more lines, if needed. Complete any other desired fields, such as the
Discount or add a message to be displayed on the estimate.
4. If necessary, attach a document or any file by clicking on Attachments in the
bottom left corner of the form. This can be used to store related documents for
future references. Files sizes can go up to 25MB each transaction.
5. Select Save and Send to email your customer the estimate. Click Save to save
the estimate and return to the homepage.

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Manag ing Quotes
Once the customer agrees to your estimate, it can be changed to an Invoice.
1. Estimates can be found using the Search and Recent Transactions functions, but
the easiest way is by selecting Customers from the left-hand navigation bar.
2. In the Customer Centre, click on the Estimates box in the Money bar. Locate the
customer you wish to update the quote for. Select ‘Create Invoice’ to convert the
estimate to an invoice.

Note: Estimates can be updated for ‘Status’ i.e. Accepted, and then converted to an Invoice.

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Creating and Managing Invoices
Invoices can be easily entered from the Create menu.
1. In the Create > Customers > Invoice.
2. Complete the on-screen invoice, including selecting a customer, add date, invoice
number, whether amounts are tax inclusive/exclusive/out of scope of GST,
Products and Services of your choosing, the quantity, description and rate of
each, and the GST code.

3. Add more lines, if needed. Complete any other desired fields, such as the
Discount or add a message to be displayed on the invoice.
4. If necessary, attach a document or any file by clicking on Attachments in the
bottom left corner of the form. This can be used to store related documents for
future references. Files sizes can go up to 25MB each transaction
5. Select Save and Send to email your customer their invoice, click Save and Close
to simply save the invoice and return to the homepage or select Save and New
to save the invoice and create a new one.

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Receiving Payment of Invoices
To receive a payment on an existing invoice, use Create > Customers > Receive
Payments. Choose a customer and select Invoices to be Paid, Bank Account to be
deposited and the date of payment.

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Customising Invoices
Customise the look of an invoice template by including a logo, editing the font
and more. This can be done by going to the Gear Icon > Your Company >
Custom Form Styles.
Click on New Style and select Invoice

Choose a template and accent colour, upload your logo, and specify columns,
header, and more. This same customisation window can be accessed at the bottom
of an invoice by selecting Customise at the bottom of the invoice form.

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Attachments
All transactions can have attachments added to them. The attachments can be
added by browsing to a file from your local computer or the file can be dragged into
the attachment field from within any transaction.

Attachments can also be found and actioned from the Attachments Page.
If you need to upload a batch of attachments and link them to other transactions
later, for example the terms and conditions document, then follow these steps:
Gear Icon > Lists > Attachments.

 Drag/Drop files in the Attachments field, or click on the Attachments paper pin
icon, find the location of the document to upload and then click Save to upload
 Maximum size 25MB - is the total of the size of all attachments added to a
transaction.
Review the attachment under the Name column
The Attachments window also has the following
features:
Batch Actions – Export and process transactions
(Invoice and Expense) directly from this window
1. Export the image or document, tick the box required and click Export from
the Batch action drop down
2. Create Invoice or Create Expense, tick the document you want added to the
transaction and choose either Create Invoice or Create Expense
3. Print the list of attachments in your file from the printer icon
4. From the grey settings icon next to the print icon, choose which columns are
shown in this window
5. Edit, Delete, Create Invoice and Create Expense from the dropdown box under
Action
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Expense Transactions
1. To enter an expense transaction, select Create > Supplier > Expense.
2. In the Expense window, select the account the expense was paid from such as
petty cash, a bank account or credit card account.

3. Complete the detail of the expense transaction including the payee, the reference
number, the date, whether the amounts are tax inclusive/exclusive/out of the
scope of GST, etc.
4. Define the expense by allocating it to the relevant account (if using general
ledger accounts) and/or item details (products and services are already linked to
general ledger accounts).
5. Any additional fields such as a Memo can be completed, and you can also
choose to add an Attachment (source document) for this expense. Click Save
and Close.

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Bills
Bills, available in QuickBooks Online Essentials and Plus, can be accessed from the
Create > Suppliers > Bill.

Paying Bills
When paying bills, select Expenses > Suppliers from the left-hand navigation bar or
the Create window.
In the Supplier Centre, click on the Open Bills box in the Money bar. Locate the
supplier you wish to pay a bill for. Select Make Payment to apply the payment
against the invoice.

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Recurring transactions
Recurring transactions are a way to quickly create different transactions with the same
information that will happen on a regular occurrence. These transactions can be
setup to record automatically or they can be set up for manual entry via the template
created under the recurring transactions feature.
QuickBooks Online will save the transaction as a template and will allow you to
manually change the date and amount at the anniversary of the occurrence of the
next due transaction if unscheduled. If scheduled, QuickBooks Online will
automatically post the transaction. Invoices can be set to automatically email you
while you sleep.
The recurring transactions feature is available in Plus and Essentials versions, but not
in Simple Start.
To view the recurring transaction list, navigate to Gear icon > Lists > Recurring
Transactions.

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Class and Location Tracking
QuickBooks Online Plus users can take advantage of Class Tracking, Location
Tracking, or both. Class and Location tracking configuration is ideal for management
reporting purposes by enabling tracking for separate parts of your business.
This feature is enabled in ALL account types and all transactions except transfer.

Class Tracking Location Tracking

You can assign a class to a You can only assign a location

transaction or specify a setting that to an entire transaction.
allows you to assign a different class
for each detail line of a transaction.

You can set QuickBooks Online to There is no missing location prompt.

prompt you for missing classes on
transactions.
You cannot group deposits by class. You can group deposits by
location, which is convenient in
case different locations of the
same company deposit their
monies at different bank locations.
Turning on Class Tracking and/or Location Tracking
To turn on Class and Location Tracking, click Gear icon > Account and Settings >
Advanced. Then select Categories and check the boxes next to Location Tracking
and/or Class Tracking. Class Tracking can be configured to
 warn when a class has not been assigned to a transaction (optional)
 display the Class as one to each row in transaction or
 one class for the entire transaction.

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Partial Purchase O rders
Sometimes the reality of Purchases isn’t that simple. We know that often
QuickBooks Online users have to find ways to record more complex transactions –
often resulting in multiple transactions being recorded, taking you more time in
entry and troubleshooting. Here are some new and upcoming options that will
make handling complex sales and purchases easier.
To use purchase orders, you must be using the Plus version of QuickBooks Online
and you will need to turn this feature on in your Company Settings
Create a Partial Purchase Order
Create a new purchase order to your supplier

You will notice a new box under the Suppler Name which will currently say “open”
When the stock arrives and you have the Supplier Bill you can receive the stock in
by creating a “Bill” and your purchase order across from the drawer.

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Add the purchase order to
your Bill

If you have not received all items you can enter the amounts you have
received and the undelivered items will remain on an open purchase order

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The Purchase order will remain open until the balance of items have been
received or the purchase order is manually closed.
You can update the purchase order status to closed which will finalise the
entire purchase order.

Or you can close off individual items on the

purchase order.

You can also run reports to get an overview of what you have on
backorder/order with your suppliers

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Run the Open Purchase Order List Report for a summary of purchase orders
and the value outstanding:

Run the Open Purchase Order Detailed Report for a list of items you have on
backorder and/or order.

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 6. Bank Reconciliation
Once all of the banking online feeds have been processed, the bank reconciliation
is almost completed.
1. Select Accounting from the left hand menu and then the Reconcile tab
2. In the Reconcile window, choose the bank account you are reconciling from the
dropdown box and click on Start Reconciling.
3. Enter your Statement Ending date and Ending Balance from your bank
statement and click OK.
4. The Reconcile window all bank feeds previously Matched and Added are
automatically ticked off.
The image below shows all transactions processed via the bank feeds. If all
transactions match the bank statement, then the reconciliation will show Difference
0.00.
All completed and reconciled – taking you no time at all!

Click on the Finish Now button. This will take you back into the Reconcile window
which will summarise the bank account last reconciled date and ending balance.

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Banking Reconciliation Tools
QuickBooks Online bank reconciliation tools allow the you to reconcile accounts,
correct mistakes and resolve discrepancies all from the one area. Any Balance
Sheet account (except retained earnings) may be reconciled using the same
process.
To process a reconciliation;
From the Accounting option on the left hand navigation menu, click the
Reconcile tab Click the Edit info button ion the top right hand side of the
screen

Note: Imported transactions via CSV or Bank Feeds will automatically be ticked.

Ensure the Beginning balance is accurate, and that the Ending balance and
Ending date are correct

Check transactions and tick or untick as required. Once you have matched the
reconciled balance, you Difference value will show a big green tick.

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Reconciliation Reports
To view a report of the reconciliation;
1. In the Reconcile tab, click History by
account

2. Select the report to view and click View

Report

To review a reconciled transaction scroll down to the transaction and click the
amount.

If you choose to change a transaction that has been reconciled, a warning

will appear.

Note: If a transaction has been deleted, it cannot be restored. If a transaction has been amended, then
the transaction can be edited back to the way it was at the time of reconciliation.

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Auto Adjustment
If a you force a bank reconciliation QuickBooks Online will enter an adjustment entry
to allow the bank reconciliation to reconcile to zero. QuickBooks Online will show the
below screen which explains that an Auto adjustment entry will be created.

Note: Amount “forced” is seen in the Auto Adjustment column

Reconciliation Discrepancies are found entered as ‘Other Expenses’ in the Profit &
Loss Report.

Click on “Reconciliation Discrepancies – 1,434.00” to view the Transaction Report

from the Profit and Loss report and make any necessary changes or return to the
Reconciliation screen to Undo the incorrect reconciliation.

Note: If a Bank Reconciliation was completed incorrectly or an error is found after the reconciliation, an
invited ProAdvisor can choose to “Undo” one or more reconciled statements. Talk to your ProAdvisor or
see the section on To find an expert in QuickBooks Online to get help with this.

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 8. Running Reports
To access Reports, click on Reports in the left hand menu. Each report can be Run
immediately by clicking on the link. To search for a particular report, type any part of
the report name in the Search field.

Profit & Loss / Balance Sheet

The two most frequently produced reports are the Profit & Loss and Balance Sheet.
They are found at the top of the Recommended and All Reports sections of the
Report Centre. For reports used frequently, click the star icon to add to the
Favourites area.

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Customising Reports
A report can be customised, even when it is already on the screen, by selecting
Customise in the top left corner of the report.

Depending on the specific report, a number of areas are available to customise.

These are grouped into key areas including: general, rows/columns, lists/numbers,
and header/.
For example, the balance sheet customisation has the following options;

After customising a specific report, select Run Report to display it with your
changes.

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Reports can be displayed on screen, printed, emailed and exported
to Excel.

Selecting the envelope icon will send the report to the recipients specified, with a
subject line and a note. The report will appear both as an attachment and in the
body of the email.
Exporting reports to Excel allows reports to be modified. Reports are exported with
formulas.
Customised report can be saved by selecting Save customisation at the top of the
report. The report will be saved in the My Custom Reports section of the Report
centre, making it easy to access in the future.

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Report Groups
If you have a list of reports that you often run together, you can create a Report
Group that quickly allows you to run these as a set.
To create a Report Group;
1. Select a report from the Reports menu and scroll up to see
customisation options.
2. Click the Save Customisation button
3. Click the Add new group link.

4. Give the group a new name in the New group name field and click the
Add Button
5. Click Save.
To add further reports to a g roup;
6. Select a report from the Reports menu and scroll up to see customisation
options.
7. Click the Save Customisation button
8. Click the drop down list from the Add this report to a group option

4. Select the required group and click Save.

To view the Report groups click on the Custom Reports tab from the Reports
dashboard. The
Edit menu will allow you to export these reports in .pdf or Excel formats, or delete
the group.

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Automated Reports
Using QuickBooks Online, you can have report groups automatically sent by email to
yourself and others at regular times (e.g. 1st of the month).
Here, the recipients are specified, along with the subject line and the text of the email.
The reports can be set to be attached as Excel files, and the schedule of the email of
the reports can be set as well.
To automate the report group;
1. Navigate to the Custom Reports tab from the Reports dashboard
2. Click the Edit button next to a group

3. Click the Set Email Schedule to turn it on

4. Complete the required fields, and click Attach the report as an Excel file, if
you would prefer a spreadsheet to a .pdf.
5. Click Save and Close.
You may need to click the Reports option from the left hand menu and return to
Custom Reports to see the updated Email column. This will show the
approximate frequency for the report schedule.

Note: The recipients do not have to be QuickBooks Online users and QuickBooks Online does not
even have to be open on your screen for these reports to be sent on schedule.

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9. Video Tutorial Guidance

[Link]
list=PL8LZsiw8a1zuxGh6E95H9rv1Lk38Z52OD&si=
C3pXIRiuRwNPKPe7

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