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Mastering QuickBooks 2024
Mastering QuickBooks 2024

Mastering QuickBooks 2024: Bookkeeping with US QuickBooks Online for small businesses , Fifth Edition

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Profile Icon Crystalynn Shelton
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Full star icon Full star icon Full star icon Full star icon Half star icon 4.6 (19 Ratings)
Paperback Dec 2023 570 pages 5th Edition
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Arrow left icon
Profile Icon Crystalynn Shelton
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₱1785.99
Full star icon Full star icon Full star icon Full star icon Half star icon 4.6 (19 Ratings)
Paperback Dec 2023 570 pages 5th Edition
eBook
₱999.99 ₱1428.99
Paperback
₱1785.99
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eBook
₱999.99 ₱1428.99
Paperback
₱1785.99
Subscription
Free Trial

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Mastering QuickBooks 2024

Getting Started with QuickBooks Online

QuickBooks is the most popular accounting software for small businesses. The desktop version has been around for more than 25 years, and the online version for more than 10 years. It is affordable, easily accessible, and ideal for non-accountants. Before diving into the nuts and bolts of setting up QuickBooks for your business, you should understand what QuickBooks is and what your options are when it comes to using it. Once you know what your options are, you will be in a better position to choose the version of QuickBooks that will best suit your business needs. We will then show you how to create a QuickBooks Online (QBO) account and how to navigate in QBO.

If you don’t have previous experience as a bookkeeper, then you will need to know a few bookkeeping basics before you get started. In the Small-business bookkeeping 101 section, we will cover five key areas in terms of recording transactions in your business: money coming in...

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QuickBooks is the most popular accounting software for small businesses. The desktop version has been around for more than 25 years, and the online version for more than 10 years. It is affordable, easily accessible, and ideal for non-accountants. Before diving into the nuts and bolts of setting up QuickBooks for your business, you should understand what QuickBooks is and what your options are when it comes to using it. Once you know what your options are, you will be in a better position to choose the version of QuickBooks that will best suit your business needs. We will then show you how to create a QuickBooks Online (QBO) account and how to navigate in QBO.If you don’t have previous experience as a bookkeeper, then you will need to know a few bookkeeping basics before you get started. In the Small-business bookkeeping 101 section, we cover five key areas in terms of recording transactions in your business...

What is QuickBooks?

QuickBooks is an accounting software program that allows you to track your financial transactions such as income and expenses for your business. One of the benefits of using QuickBooks is having access to key financial reports (such as the balance sheet report) so that you can see the overall health of your business at any time. Having access to these reports makes filing your taxes a lot easier. QuickBooks has been around for almost three decades and is the accounting software used by millions of small businesses around the globe.QuickBooks comes in two formats: software that you can install or download on a desktop computer, and a cloud-based program that is accessible from any mobile device or desktop computer with an internet connection.The cloud-based version, QuickBooks Online (QBO), is available in four editions: Simple Start, Essentials, Plus, and Advanced. The desktop version, QuickBooks Desktop (QBD), also comes in four editions: QuickBooks Mac, Pro, Premier...

Exploring QBO editions

QBO comes in four editions:

  • Simple Start
  • Essentials
  • Plus
  • Advanced

Each edition varies in terms of the price, the number of users to which you can give access, and the features included.The following figure gives a summary of QBO pricing and features for each edition of QBO at the time of writing:

...
Simple Start Essentials Plus Advanced
Cost $30 $60 $90 $200
Maximum number of users 1 3 5 25
Accountant users included 2 2 2 3
Track income and expenses
Invoice and payments (known as accounts receivable , or A/R )
Tax deductions
Reports General Enhanced Comprehensive Powerful
Receipt capture
Mileage tracking
Cash flow
Track sales and sales tax
Estimates
Pay 1099 contractors
Maximum number of sales channels 1 3 Unlimited Unlimited
Bill management (accounts payable)
Time tracking
Inventory tracking
Project profitability
Data sync with Excel
Track employee expenses

Choosing the right QBO edition

Depending on the QBO edition QBO can be ideal for anyone from solopreneurs and freelancers all the way to mid- to large-sized businesses. If you tend to hire 1099 contractors, also known as independent contractors QBO can help you keep track of payments made to contractors throughout the year. Since contractors are not employees of the business, you must provide a 1099 form at the end of the year to any contractor you have paid $600 or more in the calendar year.The needs of your business will determine which edition of QBO is ideal for you. The following provides some additional insight into the ideal edition of QBO for different types of businesses.

When you purchase a QBO subscription, you can track business finances for one business entity. If you need to track more than one business, you will need to purchase a QBO subscription for each business entity that you have. In general, any business with a unique tax ID number will need their own set of books...

Creating a QBO account

The first step to setting up your business in QBO is to create a QBO account.In this section, we will create a QBO account for Small Business Builders, LLC, a fictitious business we will use to demonstrate features and explain concepts taught throughout this book. Small Business Builders is owned by a partnership that provides consulting services in business plans, marketing plans, bookkeeping, tax planning, and website development to small businesses. Small Business Builders is in its first year of business and has no employees. However, the partners do hire a few contractors to help meet the demand during the peak months of the year.To create a QBO account, go to the Intuit website and select a QBO subscription plan.Follow these steps to create a QBO account:

  1. Open your web browser and go to the Intuit website: www.intuit.com.
  2. Click on Products and select QuickBooks Online, as shown in Figure 1.1:

    Figure 1.1: Navigating to QuickBooks
  3. Click on Plans & Pricing...

Small-business bookkeeping 101

If you are an Enrolled Agent (EA), Certified Public Accountant (CPA), or aspiring bookkeeper or accountant, the concepts that we cover in this section will be familiar to you. However, if you are brand new to bookkeeping, make sure you grab a notepad to take notes, and a cup of coffee to stay alert.One of the benefits of using QuickBooks to manage your books is that you don’t need an accounting degree to learn how to use the software. However, you should have a basic understanding of how bookkeeping works and what’s happening behind the scenes in QuickBooks when you record transactions.The key aspects of small-business bookkeeping are the following:

  • Money coming in to your business (sales)
  • Money going out of your business (expenses)
  • Inventory and fixed asset purchases
  • Tracking the money you owe (liabilities)
  • Using the chart of accounts to properly track everything
  • Accounting methods – cash versus accrual
  • Double-entry bookkeeping

Let...

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Key benefits

  • Learn to use QBO from scratch following professional CPA advice, accompanied with fully-updated instructions and screenshots
  • Tailor QBO to your specific business needs with customization and integration
  • Streamline your billing, expense tracking, and financial reporting

Description

In today's competitive business landscape, efficient financial management is crucial for success. QuickBooks Online has emerged as the go-to accounting software for small businesses, offering a user-friendly platform to manage finances, track expenses, and gain valuable insights. This new edition will help you use QuickBooks Online from scratch and customize it to suit your small business needs. Written by accounting expert Crystalynn Shelton, it takes you on an in-depth journey, from setting up your account to mastering advanced features and customizations. This book empowers you to conquer the latest features of QuickBooks Online 2024, overcome challenges encountered during migration from desktop to online; plan cash flow, profits, revenue with precision; and streamline billing, expense tracking, and financial reporting. As you progress, you’ll learn to manage sales tax, including how to set up, collect, track, pay, and report sales tax payments. You’ll explore how to export reports to Google Sheets, use the custom chart builder, import budgets, and perform smart reporting with with using data sync with Excel. You'll learn how to tailor QuickBooks Online to your specific business needs. By the end of the book, you’ll master the art of QuickBooks Online and take control of your business finances

Who is this book for?

The book is for small business owners, bookkeepers, and accounting students who want to learn QuickBooks Online and understand how to implement it effectively. Whether you’re a bookkeeping beginner or have some experience already, this book will help you learn to use Intuit QuickBooks Online confidently.

What you will learn

  • A crash course on basic accounting concepts
  • Overcome challenges encountered during migration from QBD to QBO
  • Record income and expenses, pay vendors, and manage payroll
  • Streamline client billing with invoicing and quoting templates
  • Use QuickBooks Online for tax filing and deadline management
  • Plan cash flow, profits, and revenue with the Report Center
  • Customize financial reports and sales forms for your requirements
  • Calculate depreciation and automate workflows with QBO Advanced
Estimated delivery fee Deliver to Philippines

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Publication date, Length, Edition, Language, ISBN-13
Publication date : Dec 29, 2023
Length: 570 pages
Edition : 5th
Language : English
ISBN-13 : 9781835469958
Vendor :
Intuit
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Product Details

Publication date : Dec 29, 2023
Length: 570 pages
Edition : 5th
Language : English
ISBN-13 : 9781835469958
Vendor :
Intuit
Tools :

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Table of Contents

26 Chapters
Section 1: Setting Up Your Company File Chevron down icon Chevron up icon
Getting Started with QuickBooks Online Chevron down icon Chevron up icon
Company File Setup Chevron down icon Chevron up icon
Migrating to QuickBooks Online Chevron down icon Chevron up icon
Customizing QuickBooks for Your Business Chevron down icon Chevron up icon
Managing Customer, Vendor, and Products and Services Lists Chevron down icon Chevron up icon
Section 2: Recording Transactions in QuickBooks Online Chevron down icon Chevron up icon
Managing Sales Tax Chevron down icon Chevron up icon
Recording Sales Transactions in QuickBooks Online Chevron down icon Chevron up icon
Recording Expenses in QuickBooks Online Chevron down icon Chevron up icon
Reconciling Uploaded Bank and Credit Card Transactions Chevron down icon Chevron up icon
Section 3: Generating Reports in QuickBooks Online Chevron down icon Chevron up icon
Reports Center Overview Chevron down icon Chevron up icon
Business Overview and Cash Flow Reports Chevron down icon Chevron up icon
Customer Sales Reports in QuickBooks Online Chevron down icon Chevron up icon
Vendor and Expenses Reports Chevron down icon Chevron up icon
Section 4: Managing Employees and Contractors Chevron down icon Chevron up icon
Managing Employees and 1099 Contractors in QuickBooks Online Chevron down icon Chevron up icon
Section 5: Closing the Books and Handling Special Transactions Chevron down icon Chevron up icon
Closing the Books in QuickBooks Online Chevron down icon Chevron up icon
Handling Special Transactions in QuickBooks Online Chevron down icon Chevron up icon
QuickBooks Online Advanced Chevron down icon Chevron up icon
Shortcuts and Test Drive Chevron down icon Chevron up icon
Intuit QuickBooks Online Certified User Exam Objectives Chevron down icon Chevron up icon
Other Books You May Enjoy Chevron down icon Chevron up icon
Index Chevron down icon Chevron up icon

Customer reviews

Top Reviews
Rating distribution
Full star icon Full star icon Full star icon Full star icon Half star icon 4.6
(19 Ratings)
5 star 78.9%
4 star 10.5%
3 star 0%
2 star 10.5%
1 star 0%
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WAGNER DE SOUZA FRANÇA Feb 15, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
Gostei muito do conteúdo digital! Apenas o livro físico ainda não chegou! Muito obrigado!!
Feefo Verified review Feefo
Kristin Higginbotham Apr 02, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
Lots of info, but QBO changes quickly.
Amazon Verified review Amazon
Marie-Claude Paquette Jul 05, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
Currently studying accounting, I was looking for a book on Quickbooks because at my school we do not learn it. It is rather Sage and Acomba who are put forward.As a French Canadian, it was difficult for me to find a book on QBO that was complete so I chose this book even if it is in US Edition. Of course, the United States and Canada do not have the same laws, forms (Ex: 1099 Contractors(US) while it is a T4A(Quebec, Canada), but understanding how QBO works was my priority because I will be on internship with a company that uses it and I could understand all the functions even more because I only took the basic option on QBO as part of my self-taught study. I find this software very modern and will be even more popular for years to come.Thank you Crystalynn for your expertise, you explained very well the functions of Quickbooks!
Amazon Verified review Amazon
Dah Deb Mar 27, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
Sometimes reading instructional manuals can leave the student bored and wondering "what did I just read". This QuickBooks manual by Ms. Shelton is NOT one of those books. It is well written, laid out in understandable text, and interesting. I am learning and able to apply this knowledge without a great deal of strain.
Amazon Verified review Amazon
Sabrina Trimiew Jan 09, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
"Mastering QuickBooks 2024" is an incredibly useful resource for those who use QuickBooks Online. The structure of the book guides users on how to optimize the software's features. The author provides an excellent overview of the different subscription levels and available features. The bookkeeping overview is especially helpful, and the details provided about setting up and using the software are geared toward novice users. Even current users will find that the book makes them pause and think about any missed features or settings. The ebook includes links that make it easy to navigate online resources."
Amazon Verified review Amazon
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Unfortunately, due to several restrictions, we are unable to ship to the following countries:

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