Daylong Training on QuickBooks

Online
By Ananda Andrew Nongmin
 Trainer Profile
This is Ananda Andrew Nongmin.

I’m a professional accountant having entrepreneurial mindset with over

10 years of practical experiences in multiple industries globally and
locally.

I am the Managing Director and Founder of Nongmin Consultancy

Services Limited, headquartered in New Work, USA and our operation
center is in Lalmatia, Dhaka, Bangladesh.

I am happy to share my earned knowledge and experiences to achieve common goals and live better.

I cordially thank you for your time attending this training which is organized by BACCO.
QuickBooks Online at a glance

A software solution by Intuit Inc. for businesses Online is

the only way forward

• Lets them focus on their business – not on their books!

• Real time information to run their business on the go!
• Get paid faster – GoCardless & PayPal Integration
• Accounting is done!
• Saves time / increases productivity!
“Cloud” is always better!

Information always up-to-date

View/enter/edit information wherever you or your
Collaboration!
Anytime, anyplace, anywhere
For you, your team and your clients
No more borders / barriers to where / when you do business
Software updates supplied as standard
Saves time and increases productivity
Let’s get down to business
Choose a plan that works for your business

QuickBooks Online Offers

- Simple Start
- Essentials
- Plus
- Advanced
All plans include below features:
Dashboard

The Dashboard is always the first window that displays when you sign into your QuickBooks Online
company and it contains a wealth of information about your business at all times.

From your Dashboard, you can

see the balances of your bank
and credit card accounts, your
recent income and expenses, a
variety of reminders and even a
simplified Profit & Loss statement.
Dashboard

The company dashboard displays income, expenses

and a simplified Profit & Loss statement over
selected periods of time. In the Income section you can
see your open invoices, which are invoices
that customers haven’t paid yet, as well as the total
sales that have been paid over the past thirty
days. In the Expenses section of the dashboard,
QuickBooks Online displays your expense totals
by account, and you can also set the range of dates
used to calculate that information. QuickBooks
Online displays your Profit & Loss statement, which
compares income and expenses to calculate the
net income of your business. You can also edit the date
range on the Profit & Loss section as you can
with the Expenses section.
 Dashboard

In the Bank Accounts section of the Dashboard, QuickBooks displays each of the bank or credit card
accounts that are connected to QuickBooks. In addition to the account name QuickBooks lists the
Bank Balance and the QuickBooks Balance.

The QuickBooks balance includes all transactions entered into

QuickBooks in the account. This could be future dated
transactions. The bank balance includes actual transactions that
have been downloaded from the bank.

These two balances may not be the same because there may be
more or less transactions recorded in QuickBooks compared to
the bank account.

Privacy:
At the top of the Dashboard, QBO displays a toggle that switches the Dashboard
between normal mode and privacy mode. By default, the Dashboard is in normal
mode, and while in normal mode the Dashboard displays bank and credit card
balances along with expense and income amounts on various charts. When privacy
mode is toggled on, these sensitive financial figures are no longer displayed. This is
helpful if you are using QBO in a public place, or in a location where customers or
employees might see your Dashboard, and you don’t want them to view your
sensitive financial information.
Navigation Bar

The left hand side of QuickBooks Online displays the Navigation bar.

The Navigation bar contains centres related to the people that you may do business with
like customers, suppliers, employees and more.

It also contains valuable information about Taxes, Reports, Mileage and other key areas
of your business.

Dashboard

The Dashboard link displays the key company information including a quick overview of
your company.

It displays information about invoices and sales, expenses and a basic profit and loss
graph.
Navigation Bar

Banking

Click the Banking link to display the banking information for your company. QuickBooks displays the bank feed
for your connected accounts. From here you can begin to work with bank accounts.
Navigation Bar

Bank Rules
Click Bank Rules to view the bank rules that you have setup in your company file. Bank rules can be setup to tell
QuickBooks what to do with bank items that meet particular conditions. Rules help you control, customize, and
automate how you use the Banking page in QuickBooks.
Navigation Bar

Sales
Clicking the Sales link changes your current view to the Sales centre. This page contains five tabs listed across
the top of the page. They include Overview, All Sales, Invoices, Customers, and Products and Services. All Sales
lists all the sales transactions made in your company listed in date order.
Navigation Bar

Invoices
Click Invoices to display the Invoices Dashboard. First, this page provides a graph of Overdue and Not Due Yet
invoices. To the right, QuickBooks displays a graph of funds Not Deposited and Deposited in the last 30 days.

At the bottom of the

window QuickBooks
provides a detailed
list of sales invoices.
Transaction Window

Most transactions in QuickBooks are displayed in a consistent format that is similar to paper
transaction forms that are used in many day-to-day business transactions. After completing and
saving a transaction form QuickBooks records an accounting entry behind the scenes. For example,
when you record an invoice for a customer, QuickBooks usually debits that accounts receivable and
credits the sales account and sales tax payable.

To complete a form QuickBooks asks for several key pieces of information that should be familiar to
you. They include

Who—This is the person or business that is making the transaction. This could be a customer on an invoice or a
supplier on a bill. This field is always in the top-left corner of the QuickBooks transaction.

When—This is the date of the transaction. This field is always located in the Header portion of the transaction.

What—This includes what is being sold on an invoice or what expenses or purchases are being incurred on an
expense or purchase transaction. This will include products and services on an invoice or the expense category
on a bill or expense transactions.

How Much—This includes the quantity being sold or purchased on a sales transaction and also includes the
Rate being charged for the items. This results in the Amount on the transaction before applying sales tax.
In the footer of transactions, QuickBooks displays several options to allow you to take further action:

• Cancel: This button clears the transaction and returns you to the window you were viewing before
opening the transaction.

• Clear: This button clears the transaction, but keeps the transaction on the window so you can fill it out
again.

• Print or Preview: Clicking Print lets you print the transaction later, or preview before printing.

• Make Recurring: This option allows you to set up a recurring schedule for the transaction to be entered.

• More: The More button gives you further options, such as deleting or voiding the transaction. Note: This only
displays after the transaction is saved.

• Save: This button saves the transaction and keeps the transaction on the window so you can continue
working on it.

• Save and Close: By saving and closing you save the transaction and return to the screen you were viewing
before creating the transaction.
• Save and New: This option allows you to save the transaction and immediately start entering a new
transaction of the same type.
• Save and Print: Some transactions can be saved and printed, which allows you to save the transaction and
immediately print them.
• Save and Send: Some transactions can be saved and sent, which allows you to save the transaction and
immediately email them.
Navigation Bar

Customers
Click Customers to display customer information. The Customers List displays each customer’s name, phone
number, and accounts receivable balance. It can also be expanded to display a customer’s physical address
and email address.
Navigation Bar

Products and Services

Click Products and Services to view the products and services that you are selling in your business.
Navigation Bar

Expenses
Click the Expenses centre to view all your company Expenses and Suppliers. QuickBooks displays a list of all
company expenses in date order. Click any expense to drill down to the details. From this page, you can
create new transactions and print cheques as needed.
Navigation Bar

At the top left of the Expenses page is a Filter button, which when clicked allows for filter options, such as
filtering by transaction type, transaction status, delivery method, date, payee and category.

Click the column head for each column in the expense listing to sort by the column’s value. For instance,
clicking the Date column header will sort the transactions by date.

If you want to add or remove columns to the transaction listing you can click the Gear icon to edit the display
of the list.
Navigation Bar
Suppliers
Click Suppliers to view a list of all Suppliers in your company. The Suppliers List displays each supplier’s name,
phone number, email address and your accounts payable balance with them. It can also be expanded to
display the supplier’s physical address, and you can create bills, expenses, cheques and purchase orders
directly from the list.
Navigation Bar

Projects
When you click Projects, QuickBooks displays the Projects page including all of your current projects. Projects
help you organize all the pieces that make up a project, including transactions, time, and reports so you always
know how your project’s doing.
Navigation Bar
Employees
Click Employees to manage your company payroll. From this window, you can setup and pay employees and
manage your day-to-day payroll transactions.
Reports
The Reports Centre is divided into three tabs. The tabs are located at the top of the Reports Centre. The tabs
include:

• Standard
• Custom reports
• Management reports
q Custom reports
This tab includes a list of reports that you’ve customized and saved for future use. This tab also includes any
reports that other users in your company have customized and shared with you.
q Management reports
QuickBooks Online Management Reports feature allows you to customize a professional looking group of reports
complete with cover page, table of contents, preliminary pages, reports and end notes. The Management
Reports feature will save you time on running business reports—you won’t have to export out individual reports to
software for assembly and finalization.
In the All Reports tab, the reports are organized into several categories.

Ø Favorites
Ø Business overview
Ø Who owes you
Ø Sales and customers
Ø What you owe
Ø Expenses and vendors
Ø Employees
Ø For my accountant
Ø Payroll
q Favorites - These are reports that you have selected as favorites. To mark a report as a favorite, click the star
icon next to the report name.

q Business overview - This category includes summary and detail reports that report on the performance and
position of your business.

q Who owes you - This category includes reports about the customers who owe you money. Reports in this
category include A/R Aging Summary, Collections Report, Open Invoices, and other reports designed to help
you manage your customer receivables.

q Sales and customers - This category includes reports detailing information about your sales made to your
customers. This category reports in detail about sales of products and services, and details about customers
who purchases your products and services.

q What you owe - This category includes reports detailing information about what money you owe and the
suppliers you owe money to.

q Expenses and suppliers - This category includes reports about your expenses and purchases. In this section
you’ll find detailed information about purchases including Purchase Order reports, and other purchasing
information.
q Sales tax - This category includes reports about your GST, HST, PST and QST. Whether you track just one tax or
multiple taxes, QuickBooks reports all of the details in the Sales Tax category

q Employees - This category reports on employees time tracking information in QuickBooks.

q For my accountant - This section of reports is dedicated to Accountant reports. These reports are often used by
your accountant to help prepare your year end reports and taxes.

q Payroll - This category reports on your QuickBooks payroll activities.

Navigation Bar

Taxes
The Taxes centre displays information about the sales taxes you’re tracking in your company including HST/GST,
PST and QST depending on where your business is located. You can visit the Taxes centre to view your current
balances, past filings and payments.
Navigation Bar
Mileage
Your business-related mileage can be tracked using the Mileage centre. You can automatically track your
mileage with our mobile app and categorize your trip as business or personal with a quick swipe. Click the
Mileage centre in QuickBooks Online to review your mileage and the breakdowns available to you.
Navigation Bar
Accounting
Click Accounting to view your Chart of Accounts. By default, QuickBooks displays all of your accounts, but you
can filter the list by typing the name of the account you’re looking for in the Filter by name field.

Click the column header for

each column in the account
listing the accounts will be sorted
by that column’s value. For
instance, by clicking the Name
column header the list of
accounts will be sorted by
name, by clicking the Type
column header the accounts will
be sorted by Type, etc.
Navigation Bar

If you want to remove columns from the account listing, click the Gear icon on the right side of the
account listing. The Type, Detail Type, QuickBooks Balance, and Bank Balance columns can all be
removed. The Chart of Accounts can also be printed by using the Print icon, and a batch edit option
is available by clicking the Pencil icon.

Account Histories are available for Balance Sheet type accounts by clicking the Account History link
on that account’s row. You can also click the drop-down arrow next to Account History to view other
options, such as Edit, Delete and Run Report, which shows a report summarizing all transactions in
the account over the past 90 days.
Navigation Bar

Reconcile
Click the Reconcile link at the top of the Accounting page to display the Reconcile window. From this window,
you can reconcile a variety of accounts in QuickBooks.
Navigation Bar

My Accountant
Click My Accountant to invite your accountant
to be part of your accounting. Enter your
accountant’s email address to send them an
invitation.
Navigation Bar

Apps
The Apps link displays the Apps Centre. Apps extend the usability of QuickBooks Online by adding software
integrations to your accounting.
+New Menu

The +New button located on top of the navigation bar contains a menu of transactions available in
QuickBooks. The +New menu gives you access to four categories of transactions including Customers, Suppliers,
Employees, and Other. The +New menu will be the primary access point for creating any transaction you need
to enter for your company.
Search
The Search link, which is displayed at the top of the window and resembles a magnifying glass, reveals a search
field. From the search field you can enter a transaction number, date or amount to find transactions that match
that data. Advanced Search lets you expand your search criteria.
Gear Icon
The Gear icon contains a menu that includes a variety of important tasks, tools and lists available
in QuickBooks. The options available on this menu are important, however they are used less
frequently than the transactions contained in the +New menu. The Gear menu is divided into four
categories including Your Company, Lists, Tools and Profile.

Customize QuickBooks around your

business under the Your Company
menu including editing
your settings, adding users, and
customizing forms. Use the Lists menu to
manage your lists in your
company. The Tools menu lets you
manage advanced features like
importing data, reconciling
accounts and managing budgets. The
Profile menu lets you manage your
QuickBooks account.
Few useful links to understand QuickBooks Online better

q Get started setting up QuickBooks Online

Link: https://www.youtube.com/playlist?list=PLVxBmyedTVhQakI_y6xQt6Gu6HzEge3Vd

q Accounting & Bookkeeping Basics: QuickBooks Online Tutorials

Link: https://www.youtube.com/playlist?list=PLVxBmyedTVhQeA1JjkqMafe5M675gGD8R

q QuickBooks Online Payroll Tutorials

Link: https://www.youtube.com/playlist?list=PLVxBmyedTVhQ23eDITqNqXgcOqcrA7cou

q QuickBooks Online Payments Tutorials

Link: https://www.youtube.com/playlist?list=PLVxBmyedTVhQIsWwHUiM4_4T8gUj7tZMJ

q QuickBooks Online Advanced Tutorials

Link: https://www.youtube.com/playlist?list=PLVxBmyedTVhSDVo2sryBxKUHwiw7MlRFP
To be a Maestro in
QuickBooks Online
• QuickBooks offers certifications in several areas of
specialization.
• Follow guideline tutorial offered by QuickBooks Team.
• Follow QuickBooks Community for updates. Intuit has an
active community enriched with resources.
 Feel free to reach
me out to my
social accounts. I’ll
be happy to help.

https://www.linkedin.com/in/anongmin/

https://www.facebook.com/anandanongmin/
Thank You