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Professional Tips and Workarounds for QuickBooks Online

You're reading from   Professional Tips and Workarounds for QuickBooks Online Improve your QuickBooks Online and bookkeeping skills using advanced techniques and best practices

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Product type Paperback
Published in Dec 2021
Publisher Packt
ISBN-13 9781801810371
Length 344 pages
Edition 1st Edition
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Concepts
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Author (1):
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Ashley Beetson Ashley Beetson
Author Profile Icon Ashley Beetson
Ashley Beetson
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Ashley Beetson has worked in various bookkeeping and accounting roles over a career spanning 30 years. This has included working in law firms, manufacturing, and an accounting practice, as well as operating his own bookkeeping business for 10 years. In 2014, Ash was invited to join the UK Trainer Writer Network, assisting Intuit in creating training materials for QuickBooks ProAdvisors. In 2021, Ash was included in the Top 100 list of ProAdvisors as compiled by The Insightful Accountant. In 2019, Ash co-created nettTracker, a third-party software application that integrates with QuickBooks Online.
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Table of Contents (16) Chapters Close

Preface 1. Section 1 – General Tips and Shortcuts
2. Chapter 1: Creating and Reviewing Opening Balances in QuickBooks Online FREE CHAPTER 3. Chapter 2: Useful Tips and Tricks Every QuickBooks User Should Know 4. Section 2 – Adapting QuickBooks Online to Suit Different Business Types
5. Chapter 3: QuickBooks Online for Manufacturing Businesses 6. Chapter 4: Recording Income for Retail Businesses 7. Chapter 5: Handling Client Money 8. Chapter 6: The Secret to Success with Projects in QuickBooks Online 9. Chapter 7: Handling Foreign Currencies in QuickBooks Online 10. Section 3 – Reviewing and Reporting Data in QuickBooks Online
11. Chapter 8: Best Practices When Reviewing Financial Records 12. Chapter 9: Enhancing the Consistency of Your Financial Statements 13. Chapter 10: Reconciling the Balance Sheet 14. Chapter 11: Closing the Year-End, the Audit Log, and More 15. Other Books You May Enjoy

Inventory (stock)

Product/Service items for inventory can be imported – see Figure 1.4. Stock that is imported will be valued by multiplying the quantity on the import sheet by the purchase cost price set against an item.

This creates an opening stock adjustment, which is similar to a journal entry. One side of the entry will debit the Stock Asset account, and the other side of the entry will credit Opening Balance Equity.

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Professional Tips and Workarounds for QuickBooks Online
Published in: Dec 2021
Publisher: Packt
ISBN-13: 9781801810371
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Authors (1)

Profile icon Beetson
Beetson
Ashley Beetson has worked in various bookkeeping and accounting roles over a career spanning 30 years. This has included working in law firms, manufacturing, and an accounting practice, as well as operating his own bookkeeping business for 10 years. In 2014, Ash was invited to join the UK Trainer Writer Network, assisting Intuit in creating training materials for QuickBooks ProAdvisors. In 2021, Ash was included in the Top 100 list of ProAdvisors as compiled by The Insightful Accountant. In 2019, Ash co-created nettTracker, a third-party software application that integrates with QuickBooks Online.
Read more
See other products by Beetson
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