This tutorial is based on a short bank statement containing 1 check, 4 withdrawals, and 2 deposits. The converter will work equally well on statements with hundreds of transactions. Note that this procedure is for QuickBooks Desktop. For QuickBooks Online please click the other tab above. MoneyThumb converters are licensed to individual users.
Each user may install the software on up to three computers -i. Take advantage of our volume pricing for multiple users. Select your quantity and the discount will automatically be applied at checkout. Getting Started MoneyThumb converters work with both scanned and downloaded statements. In the left column you should specify the QuickBooks account type, lookup the FID of the bank to import into, and specify the account number. If your bank is not listed, then QuickBooks will not import transactions using that bank name, and you have to select a different bank.
But you can still name the account anything you want. For our example we will just use the name 'National Bank' which is the name of a bank in Texas. The other options can generally be left as defaults. On the right column you should select the correct date type month-day vs. The option to switch signs is generally set correctly based on your account type bank vs credit card , you can review that later.
As a small business owner or manager, you know that managing expenses is as important as generating sales. By the end of this QuickBooks lesson, you will be able to keep track of expenses in a couple of ways. First, you can write and print checks directly from QuickBooks to pay for expenses that require immediate payment. Second, you will be able to manage what you owe to vendors by entering and tracking bills. You will learn to enter the payment of these bills correctly so that the expense is not recorded twice.
You will be able to manage all of your downloaded banking transactions by the end of this lesson. You will also understand how to enter basic banking transactions manually. 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. If you need a refresher, we walked through how to import your banking transactions into QuickBooks in Lesson 1, Tutorial 9.
Bookkeeping is much easier when cash transactions are kept to a minimum. One way to limit cash transactions is to use a credit card. This lesson will teach you to download and track your credit card purchases in QuickBooks and reconcile them with your credit card statement to ensure that they match.
By the end of this lesson, you will be able to manage credit card sales with either a QuickBooks Payments account integrated with QuickBooks or a third-party credit card processor. You should consider accepting credit card payments as a convenience for your customers and to increase the speed that you collect outstanding invoices.
By using QuickBooks Payroll , all your wages, salaries, and payroll taxes will be included automatically in your financial statements. QuickBooks will generate important reports that will provide you, your accountant, and your banker important insights into the financial health of your business.
One of the primary purposes of using bookkeeping software like QuickBooks Online is to determine the health of your business at any given point in time. Having the ability to produce solid, accurate financial statements can benefit you in the following ways:. Our QuickBooks Online tutorial will teach you the basics you need to know to start keeping the books for your small company or employer. Get started today.
First Tutorial. Find Timothy On LinkedIn. Tim Yoder is a subject matter expert at Fit Small Business focusing on small business bookkeeping, accounting, and tax content. He received his Ph.
He most recently spent two years as the accountant at a commercial roofing company utilizing QuickBooks Desktop to compile financials, job cost, and run payroll. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you.
Fit Small Business content and reviews are editorially independent. We may make money when you click on links to our partners. Learn More. Explore the chapters in the guide. QuickBooks Online allows you to: Organize income and expenses: Having your income and expenses all in one place will make it easy to provide your CPA with the information to file your taxes. You can also control if they can edit transactions or view and run reports. Access up-to-date financial reports: QuickBooks allows easy access to financial statements when you need them, such as applying for a business loan or line of credit.
Now that you understand the importance of maintaining your books, here are three tips to get the most out of our free QuickBooks Online tutorials: Use QuickBooks every day: You will learn QuickBooks fastest if you use it every day. For the first lesson, we suggest you watch three videos a day so that by the end of day five, you will have completed all 15 videos.
Follow along in your QuickBooks Online: We suggest you have your QuickBooks file open and mimic what you see in each video tutorial with your own data. Start at the beginning: This course was designed for new QuickBooks users, with each topic building on the previous one.
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