How to Use QuickBooks Online: Step-By-Step Guide

how to use quickbook

The first step to learning how to use QuickBooks Online for a business is familiarising yourself with the dashboard. Don’t worry – we’ve got all the help a new QuickBooks user needs in this simple-to-understand guide. Sally Lauckner is an editor on NerdWallet’s small-business team. She has over 15 years of experience in print and online journalism. Before joining NerdWallet in 2020, Sally was the editorial director at Fundera, where she built and led a team focused on small-business content and specializing in business financing. Next, ensure the designated company type and the tax form you plan to file at the end of the fiscal year are accurate.

how to use quickbook

QuickBooks Pricing

Spend some time looking at the different menus in the dashboard, getting to understand where you can find everything. QuickBooks pulls the industry data from at least 30 businesses that are the closest match to your industry, revenue range, and location. 250+ small-business products reviewed and rated by our team of experts. Karrin Sehmbi is a lead content management specialist on the small-business team.

how to use quickbook

Next Steps: Ready to Use Accounting Software?

Available in QuickBooks Online Essentials and higher plans, QuickBooks Bill Pay allows you to pay bills via bank transfer or check directly from QuickBooks in a few seconds and pay several bills at once. Categorising expenses accurately is essential for budgeting and financial analysis. QuickBooks makes this process effortless by enabling users to categorise expenses with precision.

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By doing so, all your expenses are downloaded and categorized automatically. You can sync your QuickBooks Online account with your bank accounts and credit cards at this stage. This means that QuickBooks will automatically download and categorize your previous transactions from your accounts, saving you time and effort as you won’t have to enter any details manually. If you run a small business, you’ve likely heard of QuickBooks Online, the smart accounting software that helps you keep on top of everything from taxes to payroll.

  1. Prior to joining the team at Forbes Advisor, Cassie was a content operations manager and copywriting manager.
  2. Find out about how to update invoices and choose what information customers see on invoice.
  3. By the end of this QuickBooks lesson, you will be able to keep track of expenses in a couple of ways.
  4. Therefore, it’s crucial to learn How to Use QuickBooks effectively.

Users can conveniently handle day-to-day financial tasks and gain insights into their financial health through detailed reports and analytics. The payroll add-on calculates payroll automatically as often as you want. Three plans give your business the scalability to grow over time and add features as necessary. The Core plan offers everything a small to midsized business would need to get started, while Premium and Elite plans enable options such as same-day direct deposit and expert assistance with setup. By the time you complete this section, you will be ready to start using QuickBooks to manage all of your income and expenses. QuickBooks is the most popular small business accounting software suite.

how to use quickbook

Our comparison of QuickBooks Online vs Excel will help you better understand the differences between the two programs. If you’re using QuickBooks Online, you or your accountant can easily transfer all the needed tax information through a tax preparation program like TurboTax. Bookkeepers and accounting professionals using QuickBooks Accountant can simplify tax preparation through ProConnect, a professional tax management solution. Learn about the different ways you can record your spending, how to record and categorize your spending and the difference between bills, bill payments, expenses, and checks in QuickBooks. You can browse the different categories in the app store, or if you know what you’re looking for, simply search for the app’s name.

It provides a centralised platform to record income, expenses, assets, and liabilities accurately. This organisation ensures that important financial information is readily accessible, promoting better decision-making, easing audits, and facilitating in-depth financial analysis. If you decide to start tracking it’s best to start using the Inventory feature from the beginning. Going back to re-edit your entire list of products, not to mention the related vendor and expense accounts, is a lot of work. Instead, save yourself the work and build your Products and Services list for inventory tracking. QuickBooks allows you to keep track of financial functions like income and expenses, employee expenses and inventory in real time and fulfill tax obligations hassle-free.

The main user should be the “primary admin,” but you can add other admins or standard users (with customized levels of access). A Live Bookkeeper cannot begin cleaning up your past books until they receive the required supporting documentation, which your bookkeeper will request from you after your first meeting. Once your bookkeeper receives all the necessary documentation, they’ll typically complete your cleanup within 30 days. In some cases, your cleanup may take longer depending on timeliness of documentation and the complexity of your books. Yes, these training tutorials are updated regularly based on the latest feature updates or changes made by Intuit, the company behind QuickBooks. Payroll is an area that you don’t want to skimp on and try to do manually.

We offer flexible accounting plans to fit businesses small and large, across all industries, with integrations like payroll, time-tracking, and payments to help you grow efficiently when you’re ready. Common file types are accepted, including MS Excel and CSV files. With QuickBooks Online you can access your accounts anywhere, at any time. But it also connects with thousands of compatible apps, available in the QuickBooks App Store, guaranteed to make your life easier, with 86% of QuickBooks customers agreeing that apps save them time.

Once done, QuickBooks tracks your bills and expenses automatically. While there are many options available, you do not need to sign up for all of the QuickBooks services all at once. You can start with a single app, such as the accounting or payroll software, and add others as you expand. If you outgrow any service, you can choose to remove or upgrade it as needed. Along with producing quality invoices for your customers, you’ll also want to properly manage your expenses, whether it’s to create an expense report or to simply better track your business expenses. We can also offer deals on the best payroll software solution on the market.

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. One of the best things about QuickBooks is its user-friendly interface. All QuickBooks Online products have the same interface, and so do all the QuickBooks Desktop products. There are also available free online training resources that you can use to get up to speed quickly.

Each course provides detailed step-by-step guides through a combination of comprehensive text instructions, practical examples, and video demonstrations. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. All QuickBooks Online plans come with a 30-day free trial—or you can sign up right away and receive a 50% discount for three months. For those who want a little extra support we’ve got you covered.

If you’d like to try other great accounting software, we have you covered as well, with deals on FreshBooks, Xero, and others. You’ll also want to add integrations with any other business software service you already use. QuickBooks offers a range of integrations covering areas including sales, compliance, marketing, and cash flow forecasting. Terms, conditions, pricing, special features, and service and support options subject to change without notice. First, you can write and print checks directly from QuickBooks to pay for expenses that require immediate payment.

They’ll provide guidance, answer your questions, and teach you how to do tasks in QuickBooks, so you can stay on track for tax time and run your business with confidence. Intuit’s QuickBooks has been arguably the gold standard in accounting software since it first came out, following form 1099-int accrued interest Intuit’s successful Quicken. Paperwork can be intimidating, but it doesn’t have to be if you use the right tools. QuickBooks Online is one of the most feature-rich, but easy-to-use accounting solutions on the market, and can help to make the process infinitely smoother.

Whichever service you use, you’ll want it integrated with your accounting software to automate your tax process. You will be able to manage all of your downloaded banking transactions by the end of this section. Finally, you can use the reconcile tool to ensure the transactions on your bank statement match what has been entered into QuickBooks, resulting in up-to-date financial statements. The features and settings that you choose in this module will affect every area of QuickBooks.


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