QuickBooks Pro Online Intermediate (2023): Daily Operations

Name: QuickBooks Pro Online Intermediate (2023): Daily Operations
Author: Takeisha Strong

Learn how to complete daily operations in QuickBooks Online

Preview the first lesson free — get full access to all 7 lessons.

Course: On-Demand

Hello, my name is Tequisha Strong. In these lessons, you will learn some daily operations to manage your QBO file. You will learn how to create customer estimates and invoices, vendor purchase orders and bills, how to process customer deposits and payments, how to generate sales receipts and customer statements, print checks with QBO and how to track your company's vehicle knowledge. We'll be using our sample company, Bragg's Design and Landscaping for the lesson. Let's get started. Select get paid and pay from the left side panel menu. Under get paid, you'll see the options include customers, estimates and invoices. Select estimates. Let's go through the estimate screen. Under batch actions, the options include sending the estimates to the selected customers, printing the selected estimates, or deleting the selected estimates. You can also filter the estimates shown to show all estimates that are pending or have expired. The estimates that have been declined by the customer, accepted by the customer, and the estimates that have been closed and converted to invoices. You can also filter the view by date, including the current day, previous day, current week and so on. On the actual list of estimates, they can be sorted by date, estimate number, customer name, the estimate amount, the status of the estimate, you can edit each individual estimate, print it, duplicate the estimate to create the same form for the same customer or another customer, send the estimate to your customer, share the estimate with your customer using a link. You can update the status of the estimate or delete it. You can also adjust the view by selecting an additional column, the expiration date, or how many roles you'd like to see per page and setting that as a default. Let's create a new estimate. You'll see the estimate form is very similar to many of the other forms in QBO. You can select the customer after selecting the customer, if that customer's email address and billing address are included in the customer's profile, it will automatically populate. You can set the date for the estimate, including an expiration date. You can also change the status of the estimate by default, pending is selected as the status. However, it can also be changed to accept it, closed or rejected. Once the estimate is created, you can choose to send it later. You can also choose to CC or BCC any additional recipients. If your company is using tags to group similar forms, you can enter those tags in this field. You'll then select the product or service for which you'd like to provide the customer with an estimate, the quantity, the rate and amount should automatically populate and note if that product or service is taxable. At the top right, you can select the gear icon, which will allow you to include or exclude the tags field. Let's create an estimate. We'll select our customer, Amy's Bird Sanctuary. You'll see the customer's information is automatically populated, and we'll choose to send the estimate later. We'll set the expiration date to December 31st. For the product, let's say we are designing a rock fountain for Amy's Bird Sanctuary. We anticipate this to take four hours where services are not taxable in this state, and we'll want to add the actual fountain to the estimate. You'll see the rate for the service and the product are automatically populated based on our product and services list. You'll note that the product is taxable. You can also add an additional line for a subtotal here. If you'd like to differentiate any groups of services, you'll see the subtotal line is added, and you can add additional products or services below to have the final subtotal for the form to your right. If you'd like to provide the customer with a discount, you can do so using this dropdown. Discounts can be provided at a percentage or a dollar value. You'll note the taxable subtotal. The default tax rate is that which is attached to your customer. QuickBooks will automatically populate it based on that percentage and provide the total for the estimate. Over to the right, if you'd like to add a note to your customer, you can type a message to be displayed on the estimate. You can also type a message to be displayed if you generate a customer's statement, and if you'd like to provide any attachments you can do so here, such as a picture of the fountain. We can select Save and Send or use the arrow to select Save and Close. This will take us back to the estimate screen. Thanks for watching!

Intermediate Provider : Takeisha Strong 7 Lessons · 49m in English

Course Description

Two of the key functions of daily business operations for any company, organization, or entity are invoicing customers to generate income and tracking bills to pay vendors. An invoice can apply to any customer, subscriber, or client as a means of billing. Creating invoices allows you to bill customers in advance for services. Conversely, bills received from vendors must be tracked for an entity to cover its expenses to vendors. It’s essential that you can create invoices, bills, and sales receipts. It’s also key to know how to manage customer transactions, such as entering deposits and payments.

In this course, you will learn to create an invoice to generate income and track the bills received to pay expenses. You will also learn how to process invoice payments, generate statements of customer balances, print checks to vendors, and track company vehicle mileage. By the end of this course, users will be able to manage invoice and receipt organization.

What You'll Learn

Create invoices and sales receipts to bill customers and generate income
Distinguish between invoices and sales receipts
Enter vendor purchase orders and bills, and pay vendors to cover expenses
Manage customer deposits, payments, and receipts, and generate customer statements
Print checks to vendors using QuickBooks Online
Track company vehicle mileage

Key Takeaways

Invoicing customers to generate income and tracking bills to pay vendors are two key functions of daily business operations.
Creating invoices allows you to bill customers in advance for services, while bills received from vendors must be tracked to cover expenses.
The course teaches the difference between invoices and sales receipts.
Learners process invoice payments, generate statements of customer balances, print checks to vendors, and track company vehicle mileage.
By the end of the course, users will be able to manage invoice and receipt organization.

Frequently Asked Questions

What will I learn in this course?

You will learn to create invoices to generate income, track bills received to pay expenses, process invoice payments, generate statements of customer balances, print checks to vendors, and track company vehicle mileage.

What is the difference between invoices and sales receipts covered here?

Understanding the difference between invoices and sales receipts is one of the course's learning objectives, alongside entering bills, paying vendors, and tracking mileage.

What topics do the lessons cover?

Lessons cover Customer Estimates and Invoices (Parts 1 and 2), Vendor Purchase Orders and Bills, Customer Deposits, Payments, and Receipts, Customer Statements, Printing Checks with QBO, and Tracking Mileage.

What skills does this course help build?

The course addresses skills including Gross Receipts Tax and Invoicing, and by the end users will be able to manage invoice and receipt organization.