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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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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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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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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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What Is Billable Expense Income In Quickbooks Online? Accounting errors can lead to costly mistakes, but what about not knowing that you can deduct certain expenses? If you’re using QuickBooks Online, you may be missing out on an important feature: billable expense income. What is billable expense income in QBO? We’ll help you: Understand what
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Mastering QuickBooks with QBO Training and Resources We recently published some great tips and tricks when using the Chrome browser with QuickBooks Online, but what about some tips and tricks for QuickBooks itself? If you want to improve your QuickBooks Online knowledge, check out these great resources to up your game! Basic Training You can google
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The Rules Feature vs. Recurring Transactions in QuickBooks Online The Rules feature and recurring transactions in QuickBooks Online serve different purposes. One feature automates the categorization and processing of imported transactions based on specified criteria, while the other automates the creation and posting of repetitive transactions based on predefined templates. Let’s review these functions further!
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Are QuickBooks Online and Bill.com the same? QuickBooks Online and Bill.com are not the same process, but they can be integrated to work together to streamline your accounting and bill payment workflows. QuickBooks Online is a cloud-based accounting software that allows businesses to manage their finances, including tracking income and expenses, invoicing, and generating financial
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