QuickBooks Online 2021, accounts payable, beginning balances and new vendors. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file, we’re going to be continuing on entering our beginning balances as well as entering vendors so that we can use them for our data input into the future. So two things that we are looking into here, one, we want to enter our beginning balances, we’re imagining these beginning balances coming from our prior accounting system, we want to start at this point, so that we can then do the data input from that point into the future.
Accounts Receivable Beginning Balance & New Customers 6.70
QuickBooks Online 2021 accounts receivable, beginning balance and new customers. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file, we’re going to be focusing in on the beginning balance of accounts receivable and adding new customers. So there’s basically two goals that we have here, one getting that beginning balance in place, and to adding those new customers onto which we can then create invoices and whatnot as we move forward in the company file.
Setup Sales Tax 6.65
QuickBooks Online 2021 setup sales tax. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file we’re going to be discussing turning on and setting up the sales tax. Before we do, let’s just recap the sales tax and how it will be working so that the setup will make more sense as we go through it. When we apply the sales tax, it’ll be on a sale.
Pay Bill Form 7.60
QuickBooks Online 2021. We’re going to enter a pay bill form. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file. Last time we entered some expenses and some check type forms. This time we’re going to enter a pay bill type form, the pay build type form is similar to a expense or cheque form in that it will be another form that’s going to be a decrease to the checking account. But it will be linked intimately to the bill item up top the bill form up top. Let’s first take a look at this in our flowchart in the desktop version.
Write Checks for Expenses & Prepaid Assets 7.55
QuickBooks Online 2021. write checks for expenses and prepaid assets. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file, we’re now going to take a look at some common expenses and prepaid assets expenditures. So to do this, let’s open up our forms first. And to do that, we’re going to be duplicating our tabs up top, right click in the tab, duplicate this tab, we’re going to make three tabs this time, going back up top right clicking again, duplicate again, right click, and again, duplicate again.
Sales Receipt Payment Received at Point of Sale 7.30
QuickBooks Online 2021 sales receipt payment received at point of sale. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file where we’re going to be entering some sales receipts before we do so let’s open up our financials balance sheet income statement and trial balance. So we’re gonna duplicate some tabs up top right clicking on the tab, duplicate it, going to do it again, right click on the tab duplicate one more time, right click on the tab and duplicate.
Receive Payment on Invoices 7.25
QuickBooks Online 2021 receive payments on invoices. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitar practice problem in prior presentations, we entered a few invoices. Now we’re going to go over the process of receiving the payment on the invoices. Let’s first open up our reports the reports balance sheet income statement and the trial balance. Going up top, we’re going to duplicate some tabs right clicking on the tab duplicate, we’re going to do it again right click and duplicate, right click Duplicate.
Create Invoice Sale of Inventory Item 7.20
QuickBooks Online 2021 create invoice for the sale of an inventory item. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file, we’re going to be entering an invoice. But before we do, let’s open up our reports balance sheet income statement, trial balance, and consider what will happen first, then record the invoice and then check out if what we thought was going to happen actually does happen. So we’re going to go up top, duplicate the tab, right clicking on it duplicating the tab, we’re going to do it two more times, right click Duplicate, right click Duplicate.
Use Purchase Order to Make Check or Expense Form 7.18
QuickBooks Online 2021 use purchase order to make a check or expense form. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file, we’re now going to be recording the receipt of the inventory and actually writing a check or expense form for it. To do this, or before we do this, let’s open up some reports, we’re going to open up the balance sheet income statement and trial balance by right clicking on the tab up top and duplicating it, we’ll do it two more times, right click on the tab top duplicated again, and then right click on the tab up top.
Enter Purchase Order P.O. 7.17
QuickBooks Online 2021, enter purchase order, or P OE. Let’s get into it with Intuit QuickBooks Online 2021. Here we are in our get great guitars practice file, we’ll be entering a purchase order, we’re not going to be opening up the financial statements because if I opened this plus button or the New button, unlike any of the other forms here in the customers, vendors or employee cycles, the purchase order does not have an impact on the financial statements. In order to see that, let’s review it with our flowchart which is on the desktop version.