Summary
In this chapter, you have learned how to handle many special transactions in QuickBooks Online. You may be able to take advantage of a few of these now or keep them in your back pocket for later on when you need them. To recap, you now know how to set up and track payments for a business loan or line of credit. For those incidental purchases, you can create a petty cash account, track purchases, and reconcile the account, just like bank accounts. We also discussed the importance of recording bad debt expenses, which you now know how to record in QuickBooks to ensure that your financials are accurate. Finally, you learned how to record delayed charges and credits to track services that are provided to customers that will be billed sometime in the future.
In the next chapter, we will provide you with an overview of some of the key features included in QuickBooks Online Advanced. While this subscription plan is more expensive, it offers some powerful capabilities to streamline...
