QuickBooks Online For Dummies. David H. Ringstrom

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СКАЧАТЬ href="#u86bb9814-7f76-5e77-8480-33546f48e237">Chapter 13. This process won’t affect your original desktop company; it’s still available via the desktop product. After you import your data into QBO, you should run the Profit & Loss report and the Balance Sheet, using the accrual method for all dates from both QBO and QuickBooks Desktop, to ensure that both versions show the same information.

      If you want to keep one foot on the ground while you reach for the cloud, you can run QuickBooks Desktop and QBO in parallel for a brief period. Doing so does require double work because you’ll have to enter your transactions in both platforms. Then you’ll be able to run reports from both platforms to confirm that you’re seeing the same results in both places. Plan carefully if you opt to run parallel; things can quickly turn confusing if you’re not disciplined about the process.

      

You should discontinue using QuickBooks Desktop when you make the switch to QBO, except for running reports and viewing historical data. No synchronization occurs between QuickBooks Desktop and QBO; the transfer that you perform from QuickBooks Desktop to QBO is one-time and one-way.

An App for That

      It’s very likely that you’ll have accounting needs that aren’t met by a base subscription for QBO. As I discussed earlier, for example, payroll is an add-on that entails additional monthly costs. The Intuit Payments app, which supports electronic customer payment processing and integrates with QBO, doesn’t have a monthly cost, but it does have per-transaction fees.

      Many add-on apps are available for QBO. Intuit rose to the top of the small-business accounting world by empowering third-party developers to create apps that enhance the functionality of QBO, and over time, you can expect more apps to be developed.

In Chapter 1, I use the term apps to describe the versions of QBO available from mobile device stores (such as Google Play and Apple’s App Store). In this section, when I refer to apps, I mean add-ons developed to enhance the functionality of QBO. You can browse the available offerings at this slightly unwieldy address: https://quickbooks.intuit.com/app/apps. Or you can choose Apps from the navigation bar, as shown in Figure 2-2.

As shown in Figure 2-3, you can click any app to view a description, price information, and sometimes a video tutorial.

      FIGURE 2-2: Take a trip to the App Center to search for additional functionality for QBO.

      FIGURE 2-3: Choose any app in the App Center to view the underlying details.

      Although add-on apps can provide additional functionality in QBO, you may still encounter limitations. QBO won’t allow you to do the following things, for example:

       Track your balance sheet by class.

       Process more than 350,000 transactions annually without QBO Advanced.

       Manage a robust inventory.

Part 2

      Managing Your Books

IN THIS PART …

      Become familiar with the QuickBooks Online interface.

      Manage list information needed to use QuickBooks Online.

      Enter transactions in QuickBooks Online to update your company’s books.

      Manage bank and credit card transactions.

      Use the payroll functions of QuickBooks Online.

Chapter 3

      Creating a QuickBooks Online Company

      IN THIS CHAPTER

      

Establishing a new QuickBooks company

      

Understanding the QuickBooks interface

      

Modifying the Chart of Accounts

      

Working with company settings

      

Customizing forms

      

Enabling multiple currencies

      After you subscribe to QuickBooks Online, the next step is creating your company. If you’re migrating from QuickBooks Desktop, you can import most of your data, or you can allow the QuickBooks Setup Wizard to walk you through the process, as shown in this chapter. You even have the option to have a live bookkeeper assist you.

      See Chapter 13 or ask your accountant for help if you’re migrating from QuickBooks Desktop. You can choose a full migration, which includes most transactions, or you can import only the lists, which I cover in Chapter 4.

      

If you’re in the market for an accountant or bookkeeper, visit the ProAdvisor marketplace at https://quickbooks.intuit.com/find-an-accountant/ to seek expert advice from certified QuickBooks advisors. Or try the QuickBooks Live Bookkeeping service at quickbooks.intuit.com/live.

Signing Up for QuickBooks Online

      After you complete the sign-up process for a QuickBooks Online account, the setup process begins. The process is much shorter than the one you go through to set up a QuickBooks Desktop product company, and you need the following information:

       Your company’s name and address.

       The СКАЧАТЬ