Welcome to QuickBooks Online Certification Training

Transcription

1 Welcome to QuickBooks Online Certification Training

2 Module 3 Banking, Payroll, Apps and Reporting

3 Presenter Member of: QuickBooks ProAdvisor, Diamond Level Intuit Trainer/Writer Network Trainer: Weekly live classes and webinars on QB and business productivity software Alicia Katz Pollock Royalwise Solutions, Inc. Author of: The book Master QuickBooks Online: From Setup to Tax Time The QBO Course The Complete QuickBooks Online Video Training Library

4 CPE Process You must stay in the session for the duration of the training. This training session is eligible for 1.5 hours of CPE There will be CPE polling questions that will be pushed out during the session. In order to qualify for CPE, you must Trainer respond Diane to all Lucas polling questions during the session. CPE certificates are ed directly to you within 3 days to the same address used to register. You must keep a copy for your records.

5 Module Topics Topic 1: Bank Feeds Topic 2: Tools and Payroll Topic 3: Apps and the Ecosystem Topic 4: Reporting

6 Topic 1: Bank Feeds Learning Objectives Upon completion of this topic, you should be able to: Identify the steps to setup and utilize Bank Feeds Recognize features to troubleshoot Banking Center issues

7 Functionality of Bank Feeds Automatically download transactions Manually import files (.qbo,.csv,.qfx,.ofx) Unposted until YOU take action Match to existing transactions or create new Set up Bank Rules for more efficiency

8 Navigating the Bank Feeds New Transactions Tab: Downloaded from the bank and waiting to be posted to the register In QuickBooks: Has been posted/matched to the register Excluded: Removed from the New Transactions tab as a duplicate, not to be posted

9 New Transactions

10 In QuickBooks

11 Excluded Transactions

12 Posting Transactions via Bank Feed Add: Create a new transaction based off of the downloaded banking information Match: Marry the downloaded bank transaction to existing QuickBooks transaction Rule: Create a new transaction based on pre-established terms you set up in QuickBooks

13 Add New

14 Match Existing

15 Bank Feed Rules

16 Setting Up Bank Feeds Special Info Download date range (default 90 days) Exclude duplicate downloaded transactions Undo matched transactions

17 Download Shorter Range Specify activity to download (default is 90 days) Need 14 days? Download 30 and use batch exclude!

18 Manually Importing Bank Files Web Connect (.qbo) is BEST! Comma Separated Value (.csv) No check number! Date, Name, Amount, Description You map the fields Quicken (.qfx) Microsoft Money (.ofx)

19 Update > File Upload

20 Exclude Duplicates

21 Repairing Bank Feeds Potential Causes: Credentials changed Account closed Bank Merger Bank updates system Bank is a headache!

22 Repairing Bank Feeds If no known cause, try these in order: Update button Pencil > Update Sign-in Information Pencil > Disconnect account on save Make sure all transactions are posted! History will be erased!

23 Repairing Bank Feeds

24 Topic 2: Tools and Payroll Learning Objectives Upon completion of this topic, you should be able to: Recognize the functionality of Recurring Transactions Determine the steps to reconcile transactions to a bank statement using the Reconcile Tool Identify the payroll offerings that integrate with QuickBooks Online Identify the steps to setup QuickBooks Online Payroll Identify common payroll reports in QuickBooks Online

25 Recurring Transactions Can be used for 1st transaction in the workflow Bills, Invoices, Sales Receipts, Expenses Scheduled/Unscheduled Great for Expenses that are on autopay Sales Receipts w/cc Payments (as shown in Mod 2)

26 Recurring Transactions

27 Attaching Documents

28 Using Registers Review account registers

29 Reconciling Accounts Reconcile Bank, Credit Card and other Balance Sheet accounts Monitor changes to reconciled transactions Undo reconciliations IF you are in QuickBooks Online Accountant

30 Reconciling Accounts

31 Payroll Options QuickBooks Full Service Payroll QuickBooks Online Payroll Intuit Online Payroll for Accounting Professionals Intuit Full Service Payroll (not embedded in QuickBooks Online)

32 Payroll Options QuickBooks Full Service Payroll QuickBooks Online Payroll Intuit Online Payroll for Accounting Professionals Built inside QuickBooks Online Separate accountant and client log-ins to access the same account Pay by check or direct deposit Federal and state payroll tax forms automatically calculated Intuit files and pays taxes on behalf of client Intuit transfers data from previous provider if needed Intuit mails W-2s to employees at year end YES YES - YES YES YES YES YES YES YES YES YES YES - FULL SERVICE ONLY YES - FULL SERVICE ONLY YES - FULL SERVICE ONLY

33 QuickBooks Full Service Payroll Work with Intuit to set up Form 8655 Reporting Agent Authorization Free conversion from other 3rd party payroll providers

34 Wholesale Pricing for Payroll Best pricing when bundled with QuickBooks Subscription Save 50% by adding to your Wholesale billing account Add from your Account screen inside QuickBooks Online Accountant

35 QuickBooks Online Payroll Get started with QuickBooks Online Payroll setup wizard

36 Add Employees

37 Manage Payroll Settings

38 Add Pay Schedule, Vacation Policies, Deductions & Contributions

39 Manage Employer ID #S, Unemployment Rate, Electronic Services

40 Update GL Accounts and Classes for Paychecks and Taxes

41 Run Payroll in 3 Easy Steps

42 Select Pay Schedule

43 Confirm Bank Account and Dates

44 Salary Calculated & Timesheet Hours Summed

45 Review & Submit. Paychecks Posted to GL.

46 Mobile App: Pay Employees, Pay Taxes, File Forms

47 Payroll Reports Reports > All Reports > Manage Payroll group

48 Paycheck Subtotals for Each Employee

49 Payroll Taxes Paid and Owed

50 Topic 3: Apps and the Ecosystem Learning Objectives Upon completion of this topic, you should be able to: Recognize the benefits of Intuit-approved apps Identify the steps to find, purchase and access apps that work with QuickBooks Online

51 The QuickBooks Online Ecosystem Why? Enhance functionality in QuickBooks Online and eliminate double entry Where? The App Center and apps.com How? QuickBooks Online API an open development platform

52 Selecting Apps Best Practices Research: Read reviews, talk to other ProAdvisors Test: Ask for a demo and start a trial Do what is BEST for the CLIENT Use Intuit Approved Apps from Apps.com

53 Connecting Apps Don t connect apps for customers through QuickBooks Online Accountant! Log in to QuickBooks Online as Master Admin to connect apps Go to App Center (left side navigation) Search Apps Buy Now

54 Apps: Set up and Support Determine who is going to set up and provide ongoing support You Another ProAdvisor Developer If you do it Get an engagement letter Understand the vendor s billing policy and clearly explain it to your client determine who will pay it Understand vendor support and/or define terms for setup/support

55 Connecting Apps

56 Topic 4: Reporting Learning Objectives Upon completion of this topic, you should be able to: Identify the benefits of using QuickBooks Online Reports Recognize differences in reporting capabilities by subscription level Identify common report settings and browser modifications Indicate functionality of Grouped Reports

57 Benefits of Reporting Quickly locate information Customize in minutes Get the bigger picture

58 QuickBooks Online Simple Start Reports 44 default reports Income and expenses Accounts receivable Basic financial statements Customizable reports

59 QuickBooks Online Essentials Reports 77 default reports Includes all reports in Simple Start Accounts payable Product / Services List Company snapshot

60 QuickBooks Online Plus Reports 100 default reports All QuickBooks Online reports Location and class reporting Inventory reports Time activities Budget vs. Actual Collections report Reports Only Users!

61 The Report Center and Report Tabs

62 Report Groups Vary Depending on the Features You Are Using

63 Accountant Only Reports Adjusted Trial Balance, Adjusting Journal Entries, Profit and Loss Comparison, Balance Sheet Comparison

64 Management Reports Create custom groups of reports with cover pages and additional notes

65 Customizing

66 Saving

67 Printing

68 Virtual Conference Certification Challenge Attend (any or all) Certification Prep VCon Courses Complete the 2016 QuickBooks Online Certification by end of day, September 24, 2016 Enter your shipping record at: Enjoy your reward! Offer applies to ProAdvisors that: Are 2015 QuickBooks Online certified and have not yet updated to 2016 QuickBooks Online certification has expired Have not previously become QuickBooks Online Certified Provide a U.S. shipping address Your Rewards: Tech Kit Includes everything to keep you charged! Mobile battery back up, Mobile Vehicle Charger, USB Charger, Ear buds Lapel Pin: QuickBooks Online Certified ProAdvisor QuickBooks Online Bag Terms: Offer applies to the QuickBooks Accounting Virtual Conference participants who attend at least one of the five part QuickBooks Online Certification Prep Training courses during the event on September 21-22, 2016 and successfully complete the 2016 QuickBooks Online Certification exam by midnight September 24, Completion of the 2016 QuickBooks Online Certification between September 1, 2016 and September 24, Items shipped within 4 weeks of adding your record into the database. Offer valid for shipment within United States only

69 October 24-26, 2016 San Jose Convention Center REGISTRATION IS OPEN

70 Q&A

71 Thank You For Attending