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purcchases

Understanding Purchases Versus Expenses in QuickBooks

In a prior blog post we discussed sales versus income.  Today we will dive into another set of similar terms that have different meanings in QuickBooks. When working in QuickBooks, it’s essential to understand how the terms “purchases” and “expenses” are used. These terms may seem straightforward in everyday language, but in QuickBooks, they carry […]

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Advanced Project Insights with Project Reports and Labor Costing

In our previous blog post, we explored the foundational features of the QuickBooks Online Projects tool, including its dashboard, setup, and general benefits for job costing. In this follow-up, we’ll take a deeper dive into Project Reports; a robust toolset for assessing project profitability, labor costs, and unbilled time. We’ll also explain how to link

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Workflow Management

Streamlining Job Costing with QuickBooks Projects

Many businesses operate on a project-by-project basis and require a system to track revenue, costs, and profitability for each project. QuickBooks Online’s Projects feature is a great tool that enables businesses to consolidate all project-related activities into one central location – the Projects Dashboard, also known as the Project Center. Let’s dive into the features,

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Sales vs. Income

Understanding Sales vs. Income in QuickBooks Online

When working in QuickBooks Online (QBO), it’s essential to understand the difference between sales vs. income. These terms have specific meanings within the QuickBooks ecosystem that does not necessarily align with their broader real-world definitions. This blog post will help clarify these distinctions, explain their implications, and guide you through proper configuration and usage in

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profitability analysis

How Profitability Analysis Helps Businesses Understand Financial Performance

How Profitability Analysis Helps Businesses Understand Financial Performance You run a business. Sales are coming in, and it can be easy to assume that since you can pay your bills, you’re in good financial health. But that may not be the case. A profitability analysis can provide some answers and help you better identify: Trends

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Class Tracking in QBO

Understanding Class Tracking in QuickBooks Online

Class tracking is a powerful feature in QuickBooks Online (QBO) that allows businesses to categorize income and expenses according to different parts of their operations. This feature is useful for analyzing profitability across different areas within each account, such as departments, properties, product lines, service lines, or even manufacturers. Here’s an in-depth look at how

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QuickBooks Online

Foundational Knowledge in QuickBooks Online

Foundational Knowledge in QuickBooks Online QuickBooks Online (QBO) is one of the most popular accounting software platforms available today. It’s widely used by many businesses to manage financial transactions, track expenses, and generate reports that offer insights into the business’s financial health. In prior blogs, you have seen what it can do, but let’s take

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