QuickBooks has been around for almost three decades, and it is the accounting software used by millions of small businesses around the globe. Having access to these reports makes filing your taxes a breeze. One of the benefits of using QuickBooks is having access to key financial reports (such as profit and loss) so that you can see the overall health of your business at any time. QuickBooks is an accounting software program that allows you to track your business' income and expenses. Once you've got these key concepts under your belt, you will be ready to dive into setting up your business in QBO. Introduction to small business bookkeeping.We will cover the following key concepts in this chapter: In this section, we will also cover the importance of the chart of accounts, accounting methods, and what double-entry bookkeeping is. In the introduction to the bookkeeping section, we cover five key areas in terms of recording transactions in your business: money coming in, money going out, inventory purchases, fixed asset purchases, and liabilities. If you don't have previous experience as a bookkeeper, then you will need to know a few bookkeeping basics before you get started. Once you know what your options are, you will be in a better position to choose the version of QuickBooks that will best suit your business needs. You'll also discover tips, shortcuts, and best practices that will help you save time and become a QuickBooks pro.īy the end of this book, you'll have become well-versed with the features of QuickBooks and be able to set up your business and manage all bookkeeping tasks with ease.īefore diving into the nuts and bolts of setting up QuickBooks for your business, you should understand what QuickBooks is, and what your options are when it comes to using it.
However, you will find out what happens under the hood and understand how your financial statements are impacted by what you do in QuickBooks. QuickBooks records your debits and credits, so you don't need to learn accounting.
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Using a fictitious company, the book demonstrates how to create a QuickBooks Online account customize key settings for a business manage customers, vendors, and products and services generate reports and close the books at the end of the period. This book is a handy guide to using QuickBooks Online to manage accounting tasks and drawing business insights by generating reports easily. Its complete range of accounting capabilities, such as tracking income and expenses, managing payroll, simplifying taxes, and accepting online payments, makes QuickBooks software a must-have for business owners and aspiring bookkeepers. Intuit QuickBooks is an accounting software package that helps small business owners to manage all their bookkeeping tasks.
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