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QuickBooks Online -- Day 1 Essentials
Master the most-used QuickBooks workflows required from Day 1 of any remote bookkeeping role.
15 min read+175 XP on completionCert: Accounting & Bookkeeping
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QuickBooks Online -- Day 1 Essentials
The 10 Core QBO Workflows
| # | Task | Path |
|---|---|---|
| 1 | Enter a Bill | + New > Bill > Vendor > details > Save |
| 2 | Pay a Bill | + New > Pay Bills > check bill > bank > Save |
| 3 | Create Invoice | + New > Invoice > Customer > items > Save & Send |
| 4 | Receive Payment | + New > Receive Payment > Customer > invoice > Save |
| 5 | Record Expense | + New > Expense > payee + category > Save |
| 6 | Transfer Funds | + New > Transfer > From > To > Amount > Save |
| 7 | Journal Entry | + New > Journal Entry > Dr/Cr lines > Save |
| 8 | Reconcile | Accounting > Reconcile > account > statement info |
| 9 | Run P&L | Reports > Profit and Loss > date range > Run |
| 10 | Run Balance Sheet | Reports > Balance Sheet > date > Run |
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Bank Feed: Your Daily Workflow
- Banking > Banking > Update
- Review "For Review" tab -- transactions imported from bank
- For each transaction:
- Match -- to an existing invoice or bill
- Categorize -- assign the correct account
- Add -- confirm and move to register
Never click "Add" without categorizing. Uncategorized expenses go to "Uncategorized Expense" -- a junk account that breaks all reports.
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Setting Up Rules (Save Hours)
For recurring transactions (Netflix, rent, utilities):
- Banking > Rules > New Rule
- Condition: "Payee contains [name]"
- Action: "Categorize to [Account]"
- Save
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Essential Reports
| Report | Path | Used For |
|---|---|---|
| Profit & Loss | Reports > Business Overview | Monthly summary |
| Balance Sheet | Reports > Business Overview | Financial position |
| AR Aging | Reports > Who Owes You | Collections |
| AP Aging | Reports > What You Owe | Payment priority |
| Trial Balance | Reports > For My Accountant | Period accuracy |
| Audit Log | Gear icon > Audit Log | Compliance trail |
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Fixing Errors the Right Way
Never delete a transaction. It removes the audit trail.
Instead:
- Wrong account? ?*' Edit the transaction, correct the account, save
- Invoice created by mistake? ?*' Void it (not delete)
- Payment applied to wrong invoice? ?*' Unapply, re-apply correctly
- Duplicate entry? ?*' Void one, add memo explaining why
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In this module
QuickBooks Online (QBO)
Bank Feed
Categorization
Rules (QuickBooks)
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