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Jul 21, 2020

Quickbooks Online Tips For The Busy Business Owner

Quickbooks Online can help with everything from running payroll to generating a wide range of reports. We know how useful it can be with some of its basic features, but accountants know there is a whole library of tips and tricks around Quickbooks Online (QBO) that helps make working with the tool significantly easier.

So we are going to dive into some of our favorite QuickBooks online tips for the busy business owner. You don’t have time to pour over Youtube tutorials or contact customer service because their FAQ section definitely doesn’t solve your issue. So let’s quickly narrow down some of our favorite QBO tips and tricks that will help you save time - and money!

 

Quickbooks Online Tips For The Busy Business Owner

Set Up Bank Rules

As accountants we see a lot of transactions come in, especially repetitive transactions. It is common for a business to routinely use Office Depot for office supplies, their local Shell station for Gas, or Google Advertisements to market their business. We pick up on these repetitive transactions and create bank rules to speed things up just a bit more. 

Bank rules identify when a transaction comes in from a certain vendor and then suggest what account this transaction should go to. One quick approval quick and you are onto the next one.

 

Use Your Chrome Browser When Using QBO

Whether you have a mac or windows, you can get access to one of the most popular website browsers. It not only performs better in general, but many users have found it to be faster with QBO when compared to other website browsers.

 

Download The QBO Desktop App

Every bookkeeper knows there is Quickbooks Online and Quickbooks Desktop and usually you are in one camp or the other. No matter your reasoning, I am sure we can all agree both likely have a few benefits. An advantage Quickbooks Desktop use to have over Quickbooks Online was their contingency even when the internet is out.

This is no longer the case now that Quickbooks Online has a downloadable app option. It is free to install and it claims to be up to 45% faster than the regular Quickbooks Online tool.

 

Integrate Your Favorite Tools

While we are sure someone is trying, there is no perfect tool out there that records employee's time, does your books, marketing, sales, invoicing, manages your calendar, and files documents securely. It takes a lot to set up a business so, of course, you reach for the best tools.

Quickbooks offers a few great integrations, but our favorite is Tsheets. Tsheets allows your employees to track their time, so when integrated with QBO it is directly uploaded to their payroll feature so you can quickly approve hours and pay your employees.

 

Get Emails Sent Automatically

If you talk to any accountant today they will let you know automation is the future of the accounting industry. So accountants are becoming wizards at automation and making sure you get the information you need when you need it. 

QBO’s email automation feature has changed the game allowing its users to automatically send invoices to customers, financial reports to business owners, or sales reports to your Sales Director. What reports do you find yourself looking at on a regular basis? Set up automation to have them sent straight to your inbox.

If you love how Quickbooks Online helps you understand your business a bit better, you are going to love these tips that help you get the most out of the program. These tools are what separates the busy business owner who spends all day tracking down what an expense was for and the efficient owner who has utilized all the software has to offer. 

 

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Disclaimer:

This publication is designed to provide information on federal tax and accounting laws and/or regulations. It is presented with the understanding that the author is not rendering legal or accounting services.

This text is not intended to address every situation that arises or provide specific, strategic tax and/or accounting planning advice. This text should not be used solely to answer tax and/or accounting questions and you should consult additional sources of information, as needed, to determine the solution to tax and/or accounting questions.

This text has been prepared with due diligence. However, the possibility of mechanical or human error does exist and the author accepts no responsibility or liability regarding this material and its use. This text is not intended or written by the practitioner to be used and cannot be used by a taxpayer or tax return preparer, for the purpose of avoiding penalties that may be imposed.

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