Redmond Accounting Inc

Redmond logo

Cloud-based accounting software

Special transactions

QuickBooks Online: Special Transactions

Accounting, Accounting Technology, Cloud-based accounting software, Online Accounting, QuickBooks Online Features, Small Business Accounting /

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 […]

QuickBooks Online: Special Transactions Read More »

purcchases

Understanding Purchases Versus Expenses in QuickBooks

Accounting, Accounting Technology, Cloud-based accounting software, QuickBooks Online Features, Virtual /

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

Understanding Purchases Versus Expenses in QuickBooks Read More »

pexels photo 3183153 3183153

Advanced Project Insights with Project Reports and Labor Costing

Accounting, Accounting Technology, Cloud-based accounting software, QuickBooks Online Features /

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

Advanced Project Insights with Project Reports and Labor Costing Read More »

Workflow Management

Streamlining Job Costing with QuickBooks Projects

Accounting, Accounting Technology, Cloud-based accounting software, QuickBooks Online Features /

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,

Streamlining Job Costing with QuickBooks Projects Read More »

Sales vs. Income

Understanding Sales vs. Income in QuickBooks Online

Accounting, Bookkeeping, Cloud-based accounting software, QuickBooks Online Features /

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

Understanding Sales vs. Income in QuickBooks Online Read More »

Class Tracking in QBO

Understanding Class Tracking in QuickBooks Online

Accounting, Accounting Technology, Cloud-based accounting software, Online Accounting, QuickBooks Online Features /

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

Understanding Class Tracking in QuickBooks Online Read More »

QuickBooks Online

Foundational Knowledge in QuickBooks Online

Accounting, Accounting Technology, Cloud-based accounting software, QuickBooks Online Features, Small Business Accounting /

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

Foundational Knowledge in QuickBooks Online Read More »

Separation of Duties

Strengthening Financial Controls Through Separation of Duties

Accounting, Cloud-based accounting software, Small Business Accounting, Uncategorized /

Strengthening Financial Controls Through Separation of Duties One of the most critical components of financial control in any business is the separation of financial duties. This practice not only reduces the risk of fraud but also ensures that no one employee has control over the entire financial process. By dividing accounting functions into smaller tasks

Strengthening Financial Controls Through Separation of Duties Read More »

Contact Us

4 Best Accounting Software for Startups

Accounting Technology, Cloud-based accounting software /

4 Best Accounting Software for Startups What’s the one thing every business needs to succeed? Capital. Over 82% of companies fail because they experience cash flow problems. Hiring an accountant or CFO can help, but even with those roles covered, you’ll need accounting software as an SMB. We help startups – and businesses of all

4 Best Accounting Software for Startups Read More »

someone typing on the cloud

Embracing the Cloud: Why QuickBooks and Integrated Apps are the Future of Accounting

Cloud-based accounting software /

Embracing the Cloud: Why QuickBooks and Integrated Apps are the Future of Accounting The cloud offers a perfect opportunity to connect business applications, creating seamless data sharing and integration. QuickBooks Online (QBO) is perfectly designed to create these connections, acting as the central hub around which an ecosystem of applications revolves. This system creates an

Embracing the Cloud: Why QuickBooks and Integrated Apps are the Future of Accounting Read More »