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How To Use QuickBooks Online

how to use quickbooks online

If the day were comprised of 25, or even 30, hours, that still wouldn’t be enough time for many small business owners to complete everything on their daily to-do lists. These entrepreneurs generally don many hats, aren’t tethered to a desk and don’t have time to be consumed with bookkeeping, which is why they need technology that will allow them to run their business from anywhere. Enter cloud-based accounting software such as QuickBooks Online.

What is QuickBooks Online?

QuickBooks Online is Intuit’s popular internet-based subscription software package that allows small business owners to track their company’s revenues, expenses, sales, taxes and other financial information. Intuit introduced QuickBooks Online in 2004 as a means to help businesses manage their bookkeeping remotely. There currently are 4.3 billion QuickBooks Online subscribers worldwide who are using the software from their computers, tablets or smartphones. QuickBooks Online creates 100 million invoices and manages $1.5 trillion in commerce annually. The software also is used to transact payroll for more than 1 million employees.

QuickBooks Online was created to help you spend less time managing your business’s finances. Appointment-based, retail and e-commerce, and professional and field service businesses are those that may best suited for cloud-based software and products like QuickBooks Online. These business owners tend to be on-the-go and very comfortable working online while operating businesses with five to 20 employees.

 

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What does it offer?

Get started by choosing the QuickBooks Online plan that works best for your business. It currently has four plans — Self-Employed, Simple Start, Essentials, Plus and Self-Employed — that are priced according to the number of users and features your business requires. All four plans allow you to track your income and expenses, capture and organize receipts with your smartphone, invoice and accept payments from your smartphone, and run reports such as your profit and loss statements, expenses and balance sheets. You’ll also get 24/7 chat support. QuickBooks Online is currently running a sale where all plans are half off their full price for the first three months. Check out what each plan includes below.

QuickBooks Online Self-Employed. $5 per month for the first three months, $10 thereafter

  • Track income and expenses
  • Capture and organize receipts
  • Estimate quarterly taxes
  • Invoice and accept payments
  • Run basic reports
  • Track miles

QuickBooks Simple Start. $10/month for the first three months, $20 thereafter

  • Track income and expenses
  • Capture and organize receipts
  • Maximize tax deductions
  • Invoice and accept payments
  • Run basic reports
  • Send estimates
  • Track sales and sales tax

QuickBooks Simple Essential. $17 per month for the first three months, $35 thereafter

  • Track income and expenses
  • Capture and organize receipts
  • Maximize tax deductions
  • Invoice and accept payments
  • Run basic reports
  • Send estimates
  • Track sales and sales tax
  • Manage bills
  • Up to 3 users
  • Track time

QuickBooks Plus. $30 per month for the first three months, $60 thereafter

  • Track income and expenses
  • Capture and organize receipts
  • Maximize tax deductions
  • Invoice and accept payments
  • Run advanced reports
  • Send estimates
  • Track sales and sales tax
  • Manage bills
  • 5+ users
  • Track time
  • Track projects
  • Track inventory
  • Manage 1099 contractors

How to use QuickBooks Online

If you’re having issues and want to learn how to use QuickBooks Online, the first thing you need to do is visit the QuickBooks Online community support page. Once there, go to the “Getting Started” tab, which has curated tutorials that explain how to navigate the software and offers guides for all of its functions.

The “Setting up for Success” subsection has a series of bite-sized, but comprehensive video tutorials and summaries specialized for first-time QuickBooks Online users. These videos review topics such as accounting basics, setting up inventory, and creating and managing accounts. They also offer bookkeeping tips. It’s recommended that you watch all of the videos in order.

The “How to Use Features and Functions” subsection visually explains invoices and sales forms, processing transactions, payments and online banking, creating and managing lists, financial reports and employees in a manner to help you quickly and efficiently perform your accounting tasks.

Other sections teach you about QuickBooks apps and exporting your company file to QuickBooks Online. The site also has a resource center that addresses other questions you may have about bookkeeping, cash flow and related topics.

There also are weekly live webinars aimed to help beginners better navigate the software. This section also includes a QuickBooks encyclopedia tool for reference. If you run into trouble using QuickBooks Online, a member of the support team can chat with you live on the QuickBooks site or call QuickBooks Online support.

Still want more? Several organizations offer in-person and remote QuickBooks Online training courses taught by certified instructors who could answer any questions you have about the software.

The bottom line

If you’re busy entrepreneur who operates a small shop and doesn’t have the budget to hire an accountant, then you may want to consider using QuickBooks Online to facilitate your accounting needs. Its cloud-based interface allows you to access it anywhere, and you can choose a plan based on your company’s needs and budget. Just as important, QuickBooks Online has several webinars that address common concerns and tutorials that take you step-by-step through the software so you can do your company’s accounting adequately and quickly. There also is phone and 24/7 chat support to help you if you hit a roadblock.

 

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