Add Transactions in QuickBooks Online Now that you’ve carefully worked through your unmatched and uncategorized bank feed activity, it’s time to add the remaining transactions to your General Ledger (GL). This final step ensures your financial data is complete, accurate, and organized, all without manual data entry. Let’s dive into this important step and everything […]
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In our last blog post, we explored how to use banking filters in QuickBooks Online (QBO) to categorize transactions efficiently by leveraging matches, rules, and suggestions. However, once these automated features have done their job, we’re often left with some transactions that still need to be addressed. In this post, we’ll walk through the next
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Managing your bank transactions efficiently is a crucial part of keeping your books clean and accurate. QuickBooks Online (QBO) simplifies this process with its bank feed feature, allowing you to automatically import, categorize, and reconcile transactions from your linked bank and credit card accounts. However, to get the most out of the bank feed, you
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Bank Feed Skills for Closing the Books In previous blog posts, we’ve covered the essential knowledge required to close the books. Now, it’s time to put that knowledge into action by mastering the skills necessary to efficiently close the books. We are going to focus on advanced topics related to the QuickBooks Online (QBO)
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The Importance of Recurring Transactions For many businesses, financial transactions are repeated month after month. In fact, it’s estimated that about 80% of transactions fall into this category. Instead of manually entering the same data every time, QuickBooks Online (QBO) provides two primary ways to automate this process: Bank Rules – These automate transaction categorization
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When using QuickBooks Online (QBO), it’s easy to assume that most transactions fit neatly into two categories: sales transactions or purchase transactions. However, several types of transactions don’t fall into either category, yet they’re essential for maintaining accurate financial records. These Special Transactions include bank deposits, journal entries, and zero-dollar transactions. Let’s break down these
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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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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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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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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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