Description:

In this video we show to you how to fix common mistakes in QuickBooks Online (for accountants)

Video:

Table of Contents:

  • 00:00:00 – Intro
  • 00:04:19 – Chart of accounts (modify an account, redundant account) (example)
  • 00:05:39 – Create expense (vendors)
  • 00:07:00 – Chart of accounts (run report, edit account) (subaccount)
  • 00:07:58 – Collapse button
  • 00:08:34 – Chart of accounts (run report, edit account, merge account) how to merge accounts and how it works
  • 00:13:58 – Chart of accounts (run report, delete account) how to delete or inactive an account and how to search for it again after being deleted or inactive to make it active or click collapse button P&L and delete the account for good
  • 00:18:18 – Deleted balance sheet account (made inactive) with a balance (what’s the solution)
  • 00:20:55 – Journal entry
  • 00:22:53 – Reclassify transactions (QBOA tool); Reclassify products/services (how it works, step by step)
  • 00:31:00 – Reclassify transactions tool (accountant tools)
  • 00:34:23 – Common errors in downloaded transactions (with bank feeds)
  • 00:43:00 – Bank reconciliations (issues with bank reconciliations) (void) (adjustment)
  • 00:48:29 – Other mistakes (Sales tax setup/payments; payroll setup/liability payments; item mapping; opening balance entries)
  • 00:48:47 – Sales tax setup/payments; payroll setup/liability payments
  • 00:50:55 – Item mapping
  • 00:51:16 – Opening balance
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