Category Archives: QuickBooks Online

QuickBooks Online Bank Feed

Understanding the Basics of QuickBooks Online Bank Feed

Along with a whole list of benefits, QuickBooks Online also has the option to use online banking. This allows users to complete transactions and other services while staying connected to their banking and financial institution. It is called the QuickBooks Online bank feed feature and is a great help to people who would prefer to save time and gain more efficiency while processing various bank-related transactions such as debit card or credit card payments.

This is one of the main aspects of QuickBooks Online that gives it a major advantage over its Desktop counterpart. It has provided plenty of influence over the people to choose the Online version instead of QuickBooks Desktop. There have also been many modifications to it over the years which have further reduced the time constraints that come with due payments. This has helped professional bookkeepers to complete their cash-based bookkeeping at a much rapid rate than they could at the desktop edition of QB.

Know the Basics of QuickBooks Online Bank Feed

There are a few things to learn, as well as a couple of requirements before you get started with using the QuickBooks Online bank feed feature. Here’s what you need- a stable internet connection and a bank account at a bank that supports QB transactions to be conducted directly.

Adding your bank account- things to note

  • In case you do not know whether your bank offers such banking services, you can find out about it in the banking menu by opening the list of all the banks and financial institutions that participate in this service.
  • It is a pretty long list as currently, more than fourteen hundred banking and financial institutions offer this type of assistance for QuickBooks Online users.
  • You can also make a suggestion to your FI or financial institution to start offering such online banking transactional services if it doesn’t already.
  • Part of the tasks which your bank performs includes controlling the amount and the nature of the information that QuickBooks Online can receive from the user.

Experts advise communicating with the bank whose account you are about to connect to use QuickBooks Online bank feed. This way you can effectively coordinate any details that may be required in order to set up your account for online banking in QuickBooks Online and QuickBooks Online plus, such as

    • Any charges that are applied to such transactions
    • The mode of connection supported by the bank
    • The data necessary to enable this particular function

It is very important to have all the necessary specifics given to you by your financial institution because you will not have any access to this feature without these. You can read more about these three requirements below.

Charges that may be applied

QuickBooks Online bank feed does not have any extra costs linked to it, but there may be other fees which can be associated with-

  • Certain bank services which you can ask your particular bank about
  • Any specialist support that you might need if you encounter a problem or get confused anywhere during the setup.

The method for connecting to bank feeds

There are two ways through which you can link your bank account to this feature, known as-

  • Web Connect- This type of connection involves getting data through a web browsing application once you download a file.

If you choose this option to complete online transactions, you cannot use another account to send money to your suppliers or a different account that you may have also saved here.

  • Direct Connect- In this option, your QuickBooks Online plus or QBO can communicate expressly with your financial institution and complete tasks.

What you will need from your bank, in this case, is a password or a PIN that you will enter every time you have to download a statement or complete another transaction.

With the Direct Connect method of setup, you can also use a variety of banking services like paying your supplier or distributor online. In addition, you may transfer money from one account to another in the same program, provided that your banking institution allows it. Keep in mind that not all banks offer both Web Connect and Direct Connect, so don’t forget to ask your bank about it before making your choice.

Information provided by your bank for completion

The following are the various credentials that are mandatory for you to fill before completing the QuickBooks Online bank feed setup-

  • ID and PIN or Password- The customer ID is unique for every bank account holder in order to properly identify the user who logs into their account. It may be numeric or alpha-numeric depending on the bank itself, such as your account number or name, and can be called in terms similar to Customer ids like Online ID or Login Name.

However, there are a few things to be noted here-

  • You cannot have more than one Customer ID for one bank in QB.
  • You can online set up one Customer ID for one company file as well.

For the Direct Connect method of connection, there can be an additional requirement of the following data-

  • Account number- This is quite an important detail that is related to your bank account and is assigned to you when it is created. You can find it printed on your checks and statements but if are having difficulty in locating it, then simply speak to your bank about it.    
  • Account type-  There are certain categories of the accounts that are created at financial institutions. You need to be aware of the one that your account falls in so that you can enter this important detail whenever it is asked.
  • Routing number- This is a nine-digit number that is responsible for ensuring that all the transactions are directed to the correct place in order for them to be processed. This number is also usually present on checks or you can ask the concerned bank representative for more information about it.


Import Transactions into QuickBooks Online

A Step-by-Step Guide to Import Transactions into QuickBooks Online

Here, we are going to cover how to import transactions into QuickBooks online, such as linking bank accounts, importing transactions manually with the help of a CSV file or entering credit card charges.

It is no surprise that QuickBooks makes accounting tasks easier to complete, or that millions of people know this- which is why they are using one version or the other for their businesses worldwide.

However, some of the tasks may require a bit of help, especially if you have to import your data into different software. If we talk about importing bank accounts, then there is a certain time period of 90 days up to which you can do so more easily.

For any time later, we will have to use a particular type of file- either a QBO or a CSV file- which is in the Excel format. It may all sound difficult but it is still important and very easy to link your bank account to QuickBooks.

Before we move to the steps on how to import transactions into QuickBooks online, there are certain details that you need to have with you. These include the user id for the bank account which you want to have linked to your software, along with the password of course.

This will be required for just one time, after which QuickBooks online can start downloading the transactions on a daily basis.

Steps to Import Transactions into QuickBooks Online

Step 1– You first have to determine if your bank is mentioned in the list of banks that allow users to import transactions.

For this, type the name of your bank in the search box under the “Banking” section. If it is there, then select it. If not, then you will have to import by a different method- using the CSV file.

Step 2– The next step is to log into the account that you wish to connect to QuickBooks Online. This is where you will use the user id and password mentioned a few lines before. Be patient as it could take a little time to connect.

Step 3– When it connects, just select the desired bank account if there is more than one mentioned, with a click. Once you have selected the relevant accounts, click on “Add Account”.

Step 4– At this point, there will be some fields that will require information referring to the bank account. These details also include certain information like the type of account, description, name and detail. Finish filling the same and then click “Save and Close”.

Step 5– Set the time range for which you need to import your details. It is necessary to specify the exact range here if you want data from less than 90 days before. Otherwise, the previous unrequired data will also be imported.

Step 6– Take a quick look to check if all of the details, like the choice of bank account, that you have filled are correct and then click on “Connect”.

This is when the downloading will begin which will take time, based on your requirement to import transactions into QuickBooks online.

Don’t forget to check the transactions that have been downloaded into your QuickBooks Online once the message has been displayed. This can be done in the “Banking Center”.

Why it is Necessary to Import Transactions into QuickBooks Online

The main advantage that you will get by doing this is that you will save plenty of time and effort. This is because here you just download your transactions all at once, automatically.

There is no need for you to enter each and every transaction separately by hand. Otherwise, it could get very complicated to do it the manual way. That is why most of the big banking corporations have enabled this feature to connect to your QuickBooks software.

In Conclusion

If you need help on how to import credit card transactions into QuickBooks online or want to spare some time and get it done by professionals instead, then you can get in touch with our ProAdvisors at QB Pro Solution and they can do this for you without wasting any of your precious time.

We can also help you with other related tasks like how to import PayPal transactions into QuickBooks online. Just let us know!



Write Off Bad Debt in QuickBooks

How to Write Off Bad Debt in QuickBooks

Writing off bad debts is made easier by QuickBooks. At times in our accounting books, due to non-payment of invoices, they become bad debts. And writing them off our accounting statements is a way hectic job but not with this software.

Here are the steps to write off bad-debts in QuickBooks

But before you move further writing of the bad debts please make sure your Account Receivable Aging Detail report is correct. To check it, go to Reports> Customers and Receivables> A/R Aging details.

Steps to Writing Off Bad-Debts

If you have a bad debt account already, the procedure is quite quick. But if you don’t have a bad debt account set up you must follow this procedure

  • Click on the Gear icon and select chart of accounts.
  • Select new.

Bad Debts in QuickBooks

  • Now chose expense in account type and bad debt at the place of account name and bad debts at detail types.

Bad Debts in QuickBooks

Recording the Bad-Debts

  • Click on the customer’s menu and select receive payments from the drop down.
  • Select the customer who made bad debt from the list of customers.
  • Choose the line item that matches with bad debt.
  • Click on the discounts and credit, and at the place of discount write down the total payment, as nothing was received on behalf of the customer. Click done.
  • Select save and close to save the transaction.

Note- If Bad Debt was received in the form of cheque bounce, don’t forget to account for the bounced cheque.

Conclusion – This blog was all about writing off bad debts in QB software. In the accounting world, invoices turning into bad debts are a common phenomenon but making entries after considering them bad debts is way too complex. But this software makes it easy to mention every single detail of the bad debt and clearing all tax and other expenses over the customer whose money was either bounced by a cheque or he was considered bankrupt.

Also, read this blog:-  How to Fix QuickBooks Error 6123


quickbooks merchant service

QuickBooks Merchant Services- Record Of Deposit

QuickBooks Merchant Services is provided by Intuit QuickBooks for the payment. It also helps to target the product payment of the business owners. But some problem has come, because QB payment is layered and it also diverse By which payment is not existing match to the record. 

Therefore, QuickBooks Merchant Services- Record Merchant Service Deposits helps to find the mode of successful transaction. You can use the QuickBooks Online software for making the transaction. For the professionals and the business owners QB payment is designed. The business owner can choose the payment mode according to their plan and need.

If you are used QB merchant services, so it is necessary to have the record of deposits merchant service. Now the question arises that How To Record Merchant Service Deposits.

So let’s start-

QuickBooks Merchant Services Deposits Tabs On The Desktop

When you are open the QuickBooks on the desktop then you will see some tabs on it and these tabs are-

  • Add Online PaymentWhen transaction and payment invoice is not matched to then QuickBooks invoice is shown here.
  1. First of all to record all payment you can select ADD Payment.
  2. If you want to create an invoice so you can be using the Need Invoice link.
  3. And if you choose it for creating the invoice then you need to apply this invoice on the payment by going on Customer > Receive Payments.
  4. Then apply the invoice on the payment.
  • Ready To Record- When all the transactions of a batch are the match and recorded. Then, this batch is shown in the Ready to record.
  1. As well as, now you can record the batch of the transactions as the deposit.
  2. In case, all the transactions of a batch do not record then you can record that batch.
  3. And you get a message which is Transaction Not Added.
  • Recorded- You can monitor and view all the transactions of a batch when they are successfully recorded.
  • Errors-You can track those transactions who manually recorded in the QuickBooks. In this tab, if more than one transaction in the batch of this tab then the transaction will not be recorded.
  • You should ensure that the amount of QuickBooks matches the amount of bank statement.

How To Manually Add The Record Of Transaction In QuickBooks Merchant Services?

If you want to add manually record of the transaction. So, you should follow these steps-

  • Firstly, go to Customers > Receive Payments and create an entry of the transaction.
  • Go to Banking > Make Deposits after getting the payment.
  • Then, select all the payments of the transaction in the batch and click on the Save & Close button.

Manually Record Missing Fees And Deposit

Missing Deposit

  • When the deposit is missing so you can follow these steps-
  • First of all, Go to the Banking drop-down of the QuickBooks. Then select the Make Deposit option.
  • Then, Highlight the right things for solving them.
  • To move the items to the bank account and complete the reconciliation, Click on the Make Deposits option.

Create The Bill

You can create the bill by following these 5 steps-

  • Select Vendor > Enter Bill.
  • On the Enter bill window, select the vendor assigned to the Intuit Merchant Service account (if not listed, then select Add new).
  • Then you can make sure the proper expense has listed in the Account field.
  • Now, enter the amount of pay in the amount payable field (that price should also be visible in the amount filed).
  • After that ensure the date of the fee is correct then click on the Save and close button after completing the bill creation. 

How To Fix the: “To deposit, you need a valid expense account” error?

When the invalid user (without permission) will enter in the QB desktop, the error (To deposit, you need a valid expense account) encounter. If you want to download all the online payments. So you can download them by the Record Merchant Service Deposits.

To solve this, QuickBooks Administrator needs to give the following permissions to the user’s role:

  • Chart of Accounts
    Create
    Modify
    View Account Balance
  • Checks
    Create
    Print

How To Configure The Account Settings Of Deposit And Fee?

If in case, you want to download the deposit and Fee of the Merchant Of Services then you need an account for downloading them. Also, you will need to choose an expense account to spend fees and withdraw them. Usually, it has been created to reflect the actual bank account details is deposit in your bank and the same bank account created in the QuickBooks, when the fee will withdraw.

While you are using the new version of the QuickBooks then deposit option will see after going in the Record Merchant Service Deposits option. After going on this option you can change your deposit settings on the bottom left.

Conclusion

In this blog, we discussed the QuickBooks Merchant Services- Record Of Deposit.

We included the details of QuickBooks Merchant Services, we also told about where tabs have shown on the desktop.

As well as, we include the details that how to record the manually added transaction in QuickBooks. Rather than all of this we also told about How To Fix the “To deposit, you need a valid expense account” error.

We glad if you like our blog and we wish which information we provide to you is sufficient for you. If you have further more query and issue so you can Contact Us or comment in below session.


QuickBooks Online Bill Pay service

Benefits of QuickBooks Online Bill Pay service

Managing bills in QuickBooks online bill pay has been your vital step, next is paying them before they become due. QuickBooks will mark the bill paid and will not be mentioned as outstanding in your books.

Ways for Pay a Bill: By QuickBooks online bill pay

  • You can either issue cheque directly through QuickBooks online bill pay.
  • You can pay your bills online.  

Pay bills via cheques using QuickBooks online bill pay.

To pay bills online via cheque, we have four steps as follows

Navigation

At the home page, click on the plus sign you see at the very top.

In the vendors’ column, you’ll see the option pay bills.

Selecting bills for payment

A new window will be displayed; you now need to fill the details in 15 fields that includes

  • Payment account
  • Select the bank account you have to make payments from.

Payment date

Your cheque date is considered as your payment date

Bill Notifications

This software provides a summary of outstanding bills.

Bill Selection

Select the bill you want to pay and then it will be marked as the checkmark in this column.

Payee

Typically, this should include your vendor’s name. But in case your vendor’s business differs from your payee, you need to update information ( QuickBooks online bill pay provides all the steps in setting up the vendor’s tutorial).

So if the vendor’s business differs from payee you need to update following to pay bills.

  • Reference number
  • Due date
  • Open balance
  • Credit applied
  • Payment
  • Total amount
  • Total payment
  • Starting cheque number

After complete this steps, print and save. A further few steps are also required as in:

Registering the cheque

To complete the payment, navigate to the cheque register. From the left-hand menu bar, choose transactions and banking.

Then click on the Go to register button.

Confirmation

From the left navigation bar, choose Vendors. The bills will display. If the bills correctly apply, the status will show paid.

Paying bills online

To pay bills online not including the cheque payments you have to follow 6 basic steps.

Navigate

At your QB online dashboard, you will see a section of pay bills. Click anywhere on the section to access online payment.

Selecting the bills

Put a checkmark on every bill you want to pay from that list.

Enter the amount

As you manage your accounts with this software, it will automatically show you the open balance. However, if you want to pay some other amount, it has a column to enter the new amount.

Process date

Here, enter the date you want funds must be withdrawn from your bank account.

Payment method

Now, it gives you a choice to select from electronic payments or cheques.

Review and submit

Make sure you review the bill and amount you want to pay and then you can proceed further.

Pricing

Pay bills, get approval workflows, and more with a robust bill pay solution that syncs your information directly with QuickBooks is $1.49 per cheque with only one user that costs $39/user/month.

Conclusion

We concluded in the above blog, how we can pay bills in QuickBooks and how this makes our accounting easier by updating different accounts. Through QB, you can pay either by cheque or online.

Different steps are elaborate in detail to help you out. The details of both cheque payment and online payments have discussed to help you out in paying bills with QuickBooks.


QuickBooks Invoice

How Can We Create And Send QuickBooks Invoice Data Online

Creating a QuickBooks invoice can be faster and convenient for you to maintain invoices and receive money earlier. Invoices refer to sales made on credit.

Creating invoice on QuickBooks Online ensures that invoice has reached faster and you have received money or not. Accounts manage by QB hence, accounts are updated in actual time and all the accounting statements are made efficiently.

Create a QuickBooks Invoice

Creating QuickBooks invoice from the home page, below the customer’s column choose invoice. Create invoice includes various details, such as customer name.  You need to select the customer’s name from the drop-down her personal details of the customer should enter such as email address, billing address.

Also, the specific details such as invoice date, terms (number of days you have given to your customer to pay you). The rest product and description should write correctly. If applicable, also mention the quantity and rate.

  • QuickBooks will automatically calculate the amount.
  •  Click on the print preview after done the details.
  • Preview Invoice
  • Print it to see what invoice looks like.
  • Send Invoice to the Customer.
  • Once you think that invoice is perfect to be sent, print it out and mail it to your customer or send it via email.

If you send email directly through QuickBooks, in addition to email you have to add a body for the email, and subject that is the QuickBooks invoice assign number along with your company name.

Conclusion

So the blog’s conclusion sums up as the ways to send invoice using QuickBooks online. How QuickBooks is beneficial for Business payments and what are the key steps to send it. We have discussed details an invoice requires, by terms, body, and subject in an invoice.

Also, read this blog:- QuickBooks Online Software: Pros And Cons


Ultimate guide on Quickbooks Online software

Ultimate guide on Quickbooks Online software

Firstly, it is important to know QuickBooks online is an account management software. QuickBooks online software automatically synchronizes your financial profile and accounting reports on a dashboard. By this accounting software, multiple users can view reports and the financial accounts of the company’s in-depth.

quickbooks online software

QuickBooks online software is a cloud-based financial account management software. However, this is designed to save your time in managing your financial account, such as by helping.

More essential features of QuickBooks online software :

  • Create professional invoices
  • Tracking sales and cash flow
  • Manage your financial account
  • Sales and tax report by the one click
  • Always compatible with Windows, Smartphone, and PC at any time
  • Send scheduled invoices option
  • Managing your customers and suppliers
  • Instantaneous file access for the account
  • Connecting feature up to 300+ cloud-based apps
  • Planning ahead budget
  • Bank transaction downloads automatically.
  • Always providing phone support 
  • Access up to more than one user (5 users) in addition, cloud (hosting) access
  • Monitoring your tax and making the tax return
  • Always allow access to the latest update and features
  • Calculate the discount by the customer.  
  • Understanding your company’s fulfilments by the QB online.

QuickBooks online software can create billing, trade, and profit, and loss sheets as well as invoice solutions that are all mobile and print compatible.

Users can create own custom reports and including on within the dashboard because the user can only see what matters the most to them.

QuickBooks online software is the better option for the companies that access the accounts of multiple devices and more than one person can do access.

QuickBooks online enable to export the following lists to MS Excel such as:

  • Customers and Suppliers
  • Chart of accounts
  • Products and Services
  • Chart of employees account report

Export any QuickBooks Online report to MS Excel at any time.

QuickBooks Plans and Pricing:

  • SIMPLE START                    $10/month
  • ESSENTIALS                         $17/month
  • PLUS (More popular)        $30/month

On the other hand, QuickBooks offers three pricing plans with monthly subscriptions. Because all plans consist of customer support integration with apps you already use and cosy financial institution connection. Specifically, discounts are regularly provided and a free 30-day trial for every user. 

Features available in plans and pricing:

There are many features available in plans. For example:

SIMPLE START: $10/month

  • Track income and expenditure
  • Capture and organize receipts
  • Maximize tax deduction
  • Accept invoices and payments
  • Run original report
  • Send estimate
  • Track Sales and sales tax

ESSENTIALS: $17/month

  • Track income and expenditure
  • Capture and organize receipts
  • Maximize tax deduction
  • Accept invoices and payments
  • Run original report
  • Send estimate
  • Track sales and sales tax
  • Manage bill
  • Multiple users (up to 3 users)
  • Track time

PLUS: $30/month

  • Track income and expenditure
  • Capture and organize receipts
  • Maximize tax deduction
  • Accept invoices and payments
  • Run original report
  • Send estimate
  • Track sales and sales tax
  • Manage bill
  • Multiple users (up to 3 users)
  • Track time
  • Track projects (new)
  • Tracklist
  • 1099 Manage Contractors

Recommend system requirement for QuickBooks online:

  • For window PC: 1 GHz processor with 256 MB of RAM should be available on running Windo For example:

Window 8, Window 9, Window 10, Window XP or other.

  • For Mac: Intel-based Mac running OS X 10.5
  • QB online works on the latest version of Internet Explorer, Google Chrome, Firefox, and Safari for Mac and Desktop.
  • Fast speed broadband internet connection should be available. Because of Quickbooks online software works on the high-speed Internet connection.

Note: Quickbooks online does not work on Linux, including Ubuntu and Fedora right now.

Conclusion

After that, concluding the details, we have discussed here QuickBooks Online Software. Thus, we hope this blog will help you.

Firstly, you need to know, if you want to support the recommendations of other business owners, so go to our support community and raise your questions.

Now, you have any questions related to QuickBooks Online software, because tell us to comment section and you are welcome to our website.

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QuickBooks Online Software

QuickBooks Online Software: Pros And Cons

This is an era of technology. Everyone wants a way that simplifies all the online tasks. So, QuickBooks online is one of the accounting software that helps ease the work. In addition, it provides several facilities for small business owners in accounting software. Like business payments, income, and reporting etc.

QuickBooks Online software is a browser-based version. This is the best part of this software that you can be accessed it anywhere and anytime. It also has some features which are-

  1. Invoicing
  2. Expenditure tracking
  3. Inventory
  4. Profit and loss statement

But with the time of update, it also has some pros and cons. So, now we discuss the pros and cons of QuickBooks online-

Pros Of QuickBooks Online Software

QuickBooks Online includes many pros which are-

Easy To Use– The interface and navigation of this software are so easy to use. Its interface is color-coded, which makes it easier to find you faster. This helps to see everything on a page or get more detailed information by clicking on each page and creating a filter.

Mobile Friendly- QuickBooks Online software is mobile friendly. You can access your dashboard on the mobile easily. It makes easy to access your account anywhere

Easy Invoice Optimization- If you have your own business, so make the company brand is necessary. With this point of view, we like the invoice optimization feature of QuickBooks Online. If you want to create an invoice for your company So you can add the logo or information about your business. As well as, you can use the pre-design templates in it.

Unlimited Invoices Via Email- If you want to send the emails so you can do with this software. The online invoice process saves time and money. It also helps to keep everything in one place. As well as you can pay faster by online service.

Flexible With Third-Party Applications- QuickBooks online software is flexible with the third-party applications. The benefit in working with other apps is the integration which is provided to your accounting system by it.

Cons Of QuickBooks Online Software

It has some cons with the amazing pros. So you just need to know about these cons. Which are-

Inventory Management- Beyond all these pros it also has major cons. QuickBooks becomes problematic when you want to make a strong list of management concerns. If the list management for your business is important, QuickBooks may fail to complete your needs.

Lack Of Project Management Features– It doesn’t have the feature of project management. If you want to manage your project so you need to integrate with the third party add which has access to the QuickBooks Online software.

Lack Of Payroll- If you want to add the payroll in your account so QuickBooks online does not support this feature. But you can add it after taking the full services program on the additional monthly cost.

Access issue- If you don’t have an internet connection and your internet connection is down so you can’t Access the QuickBooks online software.

Conclusion

In this blog, we have discussed the Pros And Cons: QuickBooks Online Software.

We include some information about the QuickBooks online software. As well as, we also discuss the pros and cons of it. We hope which information is provided by us is useful for you. So please like share and comment on the given below session.


Disclaimer

We are an independent team of experts and ProAdvisors for QuickBooks. All the logos, brand names, and trademarks used on this website remain the property of their owners and do not suggest any direct connection. The information provided on this site is purely for illustrative purposes. Individuals who visit this website agree to accept all the risks and take full responsibility for any damage or loss that they face.