QuickBooks Online 2021 customer center or sales tab. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our Google search page, we’re going to be searching for QuickBooks Online at test drive, then we’re going to be selecting QuickBooks Online test drive from Intuit, we’re gonna be verifying that we’re not a robot, even though I’m not totally sure at this point, I mean, how would you even know really, if you were a robot or not? I mean, if you think about it, it’s kind of it’s kind of a deep question.
00:29
But in any case, we’re gonna be logging in here. Here we are in our Craig’s design and landscaping services a practice file in a prior presentation, we moved on to the customer section. And we note that what we want to do is be able to visualize the flow of the activities that will happen in the customer section, apply, then the forms to that flow, and then understand what’s going to be happening with regards to the input of those forms and the impact on the financial statements of them. That being the balance sheet and the income statement. To do that, I’m jumping over to the QuickBooks desktop version, just to look at the flow chart over here.
01:05
So you don’t need the desktop version here. But we have our nice little flowchart here, which shows you basically these forms in order in the flow that they would typically happen in. However, of course, with the sales cycle, even more so than other cycles, it will be dependent on what type of industry we are in, as we took a look at in a prior section. Now we want to think about how we can organize basically our customers. And this becomes particularly important if you have accounts receivable. In other words, if you’re in the type of industry, where you do the work first, and then you invoice or bill the client, and you need to track the receivables that have you’ve done the work for but you have not yet been paid for.
01:47
If you take a look at the desktop version, you can get there by going to the customers tab up top or in the customers drop down to the customer center. That’s why I label it the customer center. However, in the online version, it’s not going to be called the customer centers on the sales tab, basically, where you’ll find many of the same functionalities on the left hand side. But if you’re working with people that have used QuickBooks for some time, they’re probably just going to still say customer center, because it kind of sounds neat, you know, customers the customer center.
02:18
So in any case, customer center, that’s where we’re going to go on the left hand side, but this is going to be the sales tab in QuickBooks Online, which is kind of the same thing as the customer center on the desktop version. And then up top we have our information including the overview, the all sales, the invoices, the customers, the products and services. So I’m going to close the hamburger up top. So we’re going to be closing up the hamburger we’re in the overview tab. In the overview tab, we have some options for payment options. And these are typically going to be kind of add on apps that could make the payment processing a little bit easier.
02:49
So you can look into those items, we may spend a little bit more time on them in future presentations, but it’s not our main focus at this time, then we have the all sales. So this is going to give us kind of a general recap, as we saw in basically the expenses in center or the payable center or the vendor center, we basically have the transactions in here that are going to be related to the to the customer cycle. So those transactions then if I hit the drop down Up top being these items here, so these forms then can basically be seen and sorted. In this section, it’ll be kind of isolated to those forms.
03:26
So then if we go down below, we got our filtering option. So we can filter by the type of transaction. And once again, these are the types of transactions that are generally within the customer center or the sales cycle, estimates, invoices, sales receipt, credit memos, unbilled income recently paid money received and these statements, then we have the status down below open, overdue, paid, pending, accepted, closed rejected.
03:51
So the delivery method we have here and then of course, the date range, and then we could sort by the customer as well and use those filtering options. Up top, we have similar kind of filtering options kind of things. We have the estimates here, we have the unbilled activity, the overdue and then the open invoices, and then the 12 paid last 30 days. Up top, we have the import transaction. So if we need to import items, we could use this importing item. Most of the time, you’re going to be using these items over here.
04:24
So importing might happen most often when you first set up basically the company file if you’re importing information from a prior system, and then we could set up a new invoice payment estimate sales receipt, credit memo, and so on and so forth from this window. And if you’re working within this customer center or the sales tab, then this way to get there might be useful. However, many people probably are going to get to most of these forms by going to the new tab under the customer center and finding them on this side.
04:55
So I’m going to close this backup and then we could do our batch action. Kind of transactions down here, we could select multiple items or all items. And we could do our batch actions, which would include print transactions, print, paycheck slips, and so on. I’m going to uncheck that item, we can also sort to these transactions by the static by these headers. So if I just click on the header, it’ll sort by basically date or I can sort by type, which could be useful as well, customer memo, due date, balance, total, and so on. And then if we look at these type of items that are included in here, remember, again, these are items that are basically in that customer section, the customer cycle, or the sales cycle, however you want to name it.
05:37
So we have the estimates, those are things that would estimate before we basically create an invoice, they would only be there for those types of industries that have estimates. So not all industries have that it’s kind of specialty area, and let’s go down so the time chart will go down to that later. But the invoices, of course, are going to be the first document if you build the client for work that has been done for which you have not received anything for yet and these things are not affecting cash. So note that these are affecting accounts receivable, and these are the ones that you spend most of your time on.
06:10
And you could have entire department on in a company tracking the receivables that are basically generated from the invoices. And then of course, the receivable should be paid on at some point. So we have the payments, then that are basically connected to the invoices. So we need to be tying out the payments to the invoices, the invoice creating a receivable, the payment, then paying it off, a credit memo will basically be decreasing an invoice that had been you know, reversing in essence, an invoice, kind of negating the sale in a sense.
06:41
And then the sales receipts down below, those are going to be the forms that don’t go into accounts receivable, but they’re going to go directly to the receiving of the payment at the point in time, that that the that the sale or service was done. So then we’re going to go to the invoices tab up top. So if we go to the invoices tab, this is a nice area to to specialize or zoom in on simply the invoices, because remember, those are probably where you’re going to spend most of your time.
07:08
If you have the type of industry where you build a client, and then you get to track when they’re going to pay you you’re going to be sorting in here, if you work in a company that you’re just you’re in the accounts receivable department, you can spend a lot of time with the invoices and see whether or not they have been paid. So here we’ve got our invoices down here, and then we can sort them by status all needs attention. So then we have the unpaid overdue and not to do so we have the unpaid option. So I could say hey, I want to look at the unpaid overdue invoices here.
07:42
Or I could say I want to look at the not to do unpaid but not do invoices. And then we can take a look at the paid. And then we have the difference between paid and not deposited. So in other words, these have been paid, but they haven’t been they haven’t gone into our checking account yet. They’re kind of in limbo at this point, meaning they might be in undeposited funds. And let’s check that out. Let’s let’s open up another tab, I’m going to right click on this tab up above and duplicate it. And then let’s open up a balance sheet down here. Open up a balance sheet.
08:16
And I’m going to go down to the reports down below. And open up one of our favorite reports, the financial statement report of the balance sheet. So let’s open up the balance sheet. And then I’m going to change the dates up top from two to 2020. So I’m going to go oh 101 to zero to 1231 to zero, then run that report. And then I’m going to minimize the hamburger and increase this here and these undeposited funds that 2062. If I go into that I’ll show the activity, I’m going to hold down Ctrl and scroll down a little bit. I’m going to I’m going to see we’ll see payments then that that we’ve received, but we haven’t yet put them into the into the bank account yet.
09:02
And that’s this undeposited funds is often kind of a difficult or a point of problems for many companies. So we’ll talk more about the undeposited funds and how it’s used or how you might or might not want to use it in your system. So for example, if I go back to the first tab here, and I was going to look at the detail on the payment that was made, we see that we have for example, this payment of the 167 552 on 1210. And if I go back up top, we see that 1006 7552 here, and then if I go if I go back on over I’m going to go I’m going to right click on the screen again and duplicate it again.
09:41
So we’re going to duplicate that screen. And then let’s say we’re going to go to a deposit. So I’m going to say new, and then I’m going to go and enter a deposit. I’m not actually going to do the deposit but just to take a look at here’s the bank deposit which we’ll take a look at shortly. You’ll see that these two items are popping up Kind of automatically. And what the deposit screen would do is take it out of that undeposited funds and put it into the checking account.
10:06
And that’s that middle step we talked about briefly, in the prior presentation, where we have basically an invoice, for example, and then the invoice when we received the payment, we put it into undeposited funds, instead of directly into the checking account, because we’re imagining we’re holding on to checks or cash or whatever form of payment, before we enter it into the checking account. And then we’re gonna group it into the checking account in whatever format, we expect to see it on the on the bank statement, and then make the deposit over here.
10:33
And that’s kind of what’s happening in this process. And that’s why these items are basically pulling over here. And that would be decreasing the undeposited funds and put it into the checking account. So I’m going to so that’s the 387 and the 167 552. If I go back to the first transaction, there’s the 167 552. And then if I go down here, here’s the 387. And then if we go to the customers, I’m going to go to the customers tab up top.
11:03
Once again, we have up top the estimates the unbilled activity, the overdue and open invoices, and the 12, paid last 30 days items up top, then we can sort our information by customers. And remember that the customers mean because there’s always two sides of the transaction. When you’re looking at QuickBooks, you got to know which side of the transaction they’re talking about, because we are customers sometimes as the business. But when we talk about customers in QuickBooks, we mean our customers, people that we do, you know, services are delivered inventory to, not who we’re purchasing from.
11:36
So these are the people that that we’re hopefully generating revenue from, we have our batch actions over here that we can take by selecting these items and doing a batch action, we could sort by the customer phone, the open items up top. And then if we drill down on any of these customers, if I drill down on the customer, we’re going to get the activity for that particular customer. So if a customer comes in and asks for something in particular, then we can go into their detail, and then we can see the transactions related to them in particular, and we can have batch actions over here, we can then filter our items if we so choose by the transactions.
12:12
So we have open invoices, overdue invoices, open estimates, and so on and so forth. And we can sort this information in any way that we think best for that particular customer. Let’s go ahead and sort by type over here just so we can get them kind of grouped up by type. Now this first one is a time charge. That means we charged something made like a billable item basically, that we need to invoice we need to charge this, this customer for and so that would mean over here in the action. That’s why it says create an invoice so we can create an invoice for that if we so choose.
12:44
And then we have the invoice over here, if the invoice have not has not yet been paid, then our action would typically be to receive payment we can we can basically receive the payment here. And that’s why we have the action that’s going to be on the right which will be the received payment credit memo meaning that we we basically reversed a sale that happened to that particular customer their projects is kind of a specialty area, we might we may do a course on or projects or at least a section in and of itself. And then we go to the customer details. And this is going to be where we put the detail for the customers.
13:17
Now how much detail you do you need for the customers will depend on the type of industry that you are in. If you’re in an industry where you’re just making sales, and you never expect to see the customer again, then you don’t need much more information than most of the vendors, right, you just need to know enough information to record the sale. However, if you want repeat customers and you expect to send them your newsletter and all that kind of stuff, then you want as much information as possible with it.
13:42
So it’s more likely that you’re going to want to add more detail in the customer section. If you’re in the type of industry, such as a service industry, like a bookkeeping or a lawyer or something like that you want you know the information so that you can keep in contact with it with your customers versus versus a situation where you’re basically just making sales. And you don’t expect further interaction to a big degree. With the customers, you can edit the customer information over on the right hand side. And then we have the late fee information if applicable.
14:14
If we’re charging basically the late fees. Now if we want to get back to the main list, then I hit this little item on the list, I’m not going up to the hamburger up top, I’m hitting this little line item with an arrow it’s like a mini hamburger with an arrow because I’m not that hungry. I just want like a snack hamburger. And then we could we could take it back to the customers the full customers here and that’ll take us back to the customers area. Obviously, we can also use the tabs up top. So if I was in a particular customer, I can go back to the customer tab up top.
14:42
And that’ll take me back to basically our main customer page where once again, we can sort by each of the customers themselves. So if you got a particular question from a particular customer, then you’re probably going to be going into this report and then finding the customer and then you can take a look at the detail of the activity with really to a particular customer. Then on the right side, we got the products and the services. These, these are often called items as well, because in the desktop version, they were called items, service items, and inventory items. In particular, these are the things that we sell.
15:15
So if we have services, we set up these items so that we can then populate our invoices as easily as possible. These are things that many people that have never set up a company in QuickBooks don’t understand very well, they only understand how to populate the invoice. And these items having already been set up. So we’ll go through the setting up of these items, which makes the invoice population and the data input of the invoice a lot easier. Also, if you have inventory that you’re tracking in any way you sell actually goods, then the items become a bit more complicated these being the inventory items that we’re going to be setting up here.
15:51
Once again, those things then populating in that case, both the invoice and the purchase orders when we purchase the inventory items. So this is the best way to get a good feel for those is actually a set up the items. And when we do the second half of the course, that’s what we’ll do, we’ll go through and we’ll set up we’ll set up these items. And we’ll track them and see how they create invoices and what they do to the financial statements, which can be a little confusing, because they’re kind of hidden in terms of how they’re going to impact the financial statements with regards to the data input forms like invoices, and so on.
16:24
So that’s going to be the recap of the center here. Just realize also that that this, you know, the center can kind of tie into reports as well. So if I went to the to the balance sheet up top, and we’re talking about like the sales cycle, we’re often thinking about basically the receivable accounts receivable, that’s what you’re often concerned with, when you’re looking at the sales cycle, because you’re always looking at collecting on the receivables, the AR department, accounts receivable department is going to be, you know, a big department for larger companies that have a lot of receivables that they’re going to be collecting on and that then you can use this center then to kind of answer a lot of your questions there.
17:05
And it also ties into other reports as well. So the the reports, meaning they’re going to be supplemental reports or reports that tie into the accounts receivable. So if we go back to another tab, I’m going to close this back out. And if I go down to the reports down below, and let’s take a look at the who owes you money reports. We’ve got an accounts receivable aging report, which kind of sorted out how old the receivables are, which is going to be a really important report. And then we’ve got the customer balance Detail Report. Let’s open that one up.
17:38
And this will summarize kind of similar information that we saw over here in in or over here in the sales center, that customer Center, the sales tab, and it’ll give us our information by customer and how much is outstanding, how much is due. And this reports useful because if you get to the bottom of the report, you can see that this report that 5002 8152 ties into what’s on the balance sheet if we if we’re at the same date 5000 to 8152. So when you’re over here, looking at the customer center, you may not get that feeling you may not understand, you know, you don’t see the bottom line number tying into the balance sheet.
18:16
But remember, everything that’s an accounts receivable, or every other report other than the balance sheet report basically ties into in the income statement, every report other than the financial statement reports, balance sheet and income statement, otherwise known as a profit and loss typically ties into supports in some way, the balances on on that report the balance sheet. And you can see that here with this with this report showing basically the receivables that you’d be looking into oftentimes by customer because we need to know who owes us the money so we can go then ask them for it.
18:48
And that’s the 5002 8152 which will tie into what’s on the balance sheet. So in other words, if you looked at the balance sheet itself, you’re only going to see you know the number that people owe you. And if you go into the detail on it using the zoom feature here, then you get a detailed report, but it’s by date. So that’s not good enough. That’s not what we want. What we want is that information by customer because I need to be able to know who owes me the money and how much they owe me.
19:16
So this detailed report is not enough for accounts receivable. We need it structured in another way as well. That’s going to be you know, structured by who owes us the money. That’s another kind of subsidiary ledger report that you can see in a report format and you can see it basically that’s kind of what we’re tracking oftentimes in the customer center.