We will enter payroll transaction into QUickBOoks Online and QuickBooks Desktop 2018 comparing and contrasting the two accounting software. There are many different ways we can deal with payroll. QuickBOoks has at least three levels of paid payroll and we could have payroll done by a third party. Whether we use QuickBooks to process payroll or have a third party process payroll we need to have some understanding of the accounting transaction related to payroll. We will calculate payroll and then enter the transaction into QuickBOoks Online 2018. We will then analyze the effect of the financial transaction on the financial statements. For more accounting information see our website. http://accountinginstruction.info/

We will generate standard reports within QuickBooks Online 2018 after having entered a month worth of financial transactions. We will generate and export to excel the profit and loss or income statement and balance sheet. We will also generate the transaction report by date, an excellent report for checking our data input for the time period. For more accounting information see our website. http://accountinginstruction.info/

We discuss the payment of employees and how to record the transactio within QuickBooks Online. There are many different payroll options both inside QUickBooks online 2018 and outside with external providers. No matter what we use we do need to understand the payroll process so we can enter the information into the accounting system for our records. For more accounting information see our website. http://accountinginstruction.info/

We will a sales receipt but instead of just applying it to a customer we will apply it to a job or sub-customer. We discussed how to set up a job or sub customer in a prior presentation. QuickBooks Desktop calls them jobs while QuickBooks Online calls them Sub Customers. For more accounting information see our website. http://accountinginstruction.info/

We will enter jobs or sub customers into QuickBOoks Online 2018. If we are used to QuickBooks Desktop we will be familiar with the term job but the online version used different terminology and different process. For more accounting information see our website. http://accountinginstruction.info/

We will enter the payment of bills in QuickBooks Online 2018. We will pay bills with a check but will use the pay bill feature to generate the checks.

We will enter an invoice into QuickBooks online and add an inventory item in the process. The invoice will increase accounts receivable, sales, sales tax payable, and cost of goods sold while decreasing inventory in the accounting software.

We will record deposits from an owner and loan in QuickBooks Online, QuickBOoks Desktop, and Excel comparing and contrasting the three formats for entering the accounting transaction.