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Mastering QuickBooks® 2025
Mastering QuickBooks® 2025

Mastering QuickBooks® 2025: Bookkeeping for small businesses with US QuickBooks® Online , Sixth Edition

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Profile Icon Crystalynn Shelton
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$34.99
Paperback Dec 2024 402 pages 6th Edition
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Arrow left icon
Profile Icon Crystalynn Shelton
Arrow right icon
$34.99
Paperback Dec 2024 402 pages 6th Edition
eBook
$9.99 $27.99
Paperback
$34.99
Subscription
Free Trial
Renews at $19.99p/m
eBook
$9.99 $27.99
Paperback
$34.99
Subscription
Free Trial
Renews at $19.99p/m

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Mastering QuickBooks® 2025

Getting Started with QuickBooks Online

QuickBooks is the most popular accounting software for small businesses. The desktop version has been around for more than 30 years, and the online version for more than 20 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 QBO.

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

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 profit and loss reports) 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 more than three decades and is the accounting software used by millions of small businesses around the globe.

QuickBooks Online (QBO) is a cloud-based program that is accessible from any mobile device or desktop computer with an internet connection. It is available in four editions and we’ll focus on discussing each edition in detail next.

QuickBooks Desktop Enterprise is also available for large businesses requiring more advanced features. It runs on a subscription model and includes advanced inventory management, support for...

Exploring QBO editions

As described, QBO comes in four editions:

  • Simple Start
  • Essentials
  • Plus
  • Advanced

Each edition varies in terms of price, number of users to whom you can give access, and features included.

The following figure gives a summary of the pricing and features for each edition of QBO at the time of writing:

Simple Start

Essentials

Plus

Advanced

Cost

$35

$65

$99

$235

Maximum number of users

1

3

5

25

...

Choosing the right QBO edition

Depending on the 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 to in the calendar year. If you have questions about who qualifies as a contractor for 1099 filing purposes or need assistance with selecting the right QBO edition, please reach out to a qualified tax professional. A great resource to locate someone in your geographical area is Intuit’s Find An Accountant directory:

https://quickbooks.intuit.com/find-an-accountant/

The needs of your business will determine which edition of QBO is ideal for you. The following provides some additional insight into the ideal...

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, as shown in Figure 1.1:

Figure 1.1: Navigating to...

Navigating in QBO

The QBO user interface is currently undergoing several changes as of the writing of this book. This means that screenshots in this section might vary slightly from what you see when you log in to your QBO account. There are a variety of ways you can navigate within the program, including via the following:

  • Dashboards
  • Left navigation menu
  • The Shortcut icons on the Home tab
  • Gear menu
  • Quick Create menu

Let’s look at the dashboards and left navigation menu first.

QBO dashboards and the left navigation menu

To explore what the QBO dashboards look like, we will use our sample company, Small Business Builders, LLC:

Figure 1.19: QBO dashboards

There are three dashboards that can be accessed from the Dashboards tab located on the left menu bar: Home, Cash flow, and Planner. The following is a brief explanation of what you can find on each dashboard along with some snapshots:

  • Home: When you...

Summary

In this chapter, we explained what QuickBooks is and introduced you to the QBO product line. We covered setting up your QBO account and basic navigation using dashboards, icons, and online menus in QBO. We also provided tips on how to choose the right software for your business. Having a good understanding of the QuickBooks product line will help you to choose the best product for your business. In addition, having a basic knowledge of bookkeeping helps you understand the accounting that takes place behind the scenes in QuickBooks when you enter an invoice or pay a bill.

In the next chapter, we will show you how to customize QuickBooks for your business. This will include setting up company preferences and other key information you will need in order to tailor QuickBooks to your business needs.

Join our community on Discord

Join our community’s Discord space for discussions with the authors and other readers:

https://packt.link/powerusers

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Key benefits

  • Ensure accurate payroll processing and 1099 contractor tracking with latest features for compliance and smooth payments
  • Learn advanced reporting techniques and inventory management tools to streamline tracking, decision-making, and business insights
  • Access exclusive video tutorials and bonus chapters on bookkeeping, financial reporting, and QuickBooks Online Advanced

Description

Mastering QuickBooks® 2025 is the definitive guide for small-business owners, bookkeepers, and accounting students. This new edition covers both the fundamentals, like setting up the US version of QuickBooks Online, as well as advanced features, like integrating with e-commerce platforms. You'll grasp core business transactions such as sales, expenses, and payroll while ensuring compliance with tax regulations. You'll gain complete mastery of the US-based QuickBooks Online features—from setting up the platform to fi ling taxes like a professional. Updated for the latest QuickBooks 2025, this book introduces advanced topics like time tracking for hourly billing, inventory management techniques, and real-time financial reporting. Detailed guidance on payroll processing and 1099 contractor tracking is also included to help manage your financial operations. With the purchase of the book, you'll gain access to bonus chapters and video tutorials by the author, off erring deeper insights on how to navigate key reports, reconcile bank transactions, sharpen bookkeeping fundamentals, and generate detailed sales and expense reports. By the end of this book, you'll know how to effectively leverage QuickBooks Online for the fi nancial management of your business.

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

  • Set up and customize QuickBooks Online before managing vendor, product and services list
  • Automate tasks using workflow automation and advanced custom fields
  • Manage payroll and 1099 contractors for compliance and efficiency
  • Optimize inventory management and advanced reporting techniques
  • Solve common QuickBooks issues with expert troubleshooting tips
  • Integrate QuickBooks Online with e-commerce and other financial tools
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Publication date, Length, Edition, Language, ISBN-13
Publication date : Dec 20, 2024
Length: 402 pages
Edition : 6th
Language : English
ISBN-13 : 9781836649977
Vendor :
Intuit
Category :
Tools :

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Product Details

Publication date : Dec 20, 2024
Length: 402 pages
Edition : 6th
Language : English
ISBN-13 : 9781836649977
Vendor :
Intuit
Category :
Tools :

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Table of Contents

19 Chapters
Part 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
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
Part 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
Part 3: Managing Employees and Contractors Chevron down icon Chevron up icon
Managing Employees and 1099 Contractors in QuickBooks Online Chevron down icon Chevron up icon
Part 4: 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
Part 5: Integrating E-Commerce Platforms and Advanced Inventory Management Chevron down icon Chevron up icon
Integrating E-Commerce Platforms with QuickBooks Online Chevron down icon Chevron up icon
Advanced Inventory Management Chevron down icon Chevron up icon
Part 6: Online Bonus Content Chevron down icon Chevron up icon
Index Chevron down icon Chevron up icon
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Disclaimer:
All orders received before 5 PM U.K time would start printing from the next business day. So the estimated delivery times start from the next day as well. Orders received after 5 PM U.K time (in our internal systems) on a business day or anytime on the weekend will begin printing the second to next business day. For example, an order placed at 11 AM today will begin printing tomorrow, whereas an order placed at 9 PM tonight will begin printing the day after tomorrow.


Unfortunately, due to several restrictions, we are unable to ship to the following countries:

  1. Afghanistan
  2. American Samoa
  3. Belarus
  4. Brunei Darussalam
  5. Central African Republic
  6. The Democratic Republic of Congo
  7. Eritrea
  8. Guinea-bissau
  9. Iran
  10. Lebanon
  11. Libiya Arab Jamahriya
  12. Somalia
  13. Sudan
  14. Russian Federation
  15. Syrian Arab Republic
  16. Ukraine
  17. Venezuela