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When you run a Profit and Loss report in QuickBooks Online (using the cash method), an account called Unapplied Cash Bill Payment Expense shows. This account shows up when: a bill payment for a supplier is recorded before entering the bills if you entered bill payments without matching them to bills Follow these steps for when you see the Unapplied Cash Bill Payment Expense on your Profit and Loss report: With the Profit and Loss report open, look for the section Unapplied Cash Bill Payment Expense. Select the total amount. Take note of the supplier and amount for each bill payment in the list. Select + New. Select Pay bills. If you see bills matching the bill payments in the list, select the checkboxes next to them, then Save. If you don’t see a matching bill for one of your bill payments, create it: Select + New. Select Bill. Fill out the form with the same supplier, amount, and date as the bill payment. Select Save. Repeat the steps for a

Learn how to use projects to track your labour costs and profitability in QuickBooks Online Plus, and Accountant. Once you've set up your project, you can use payroll expenses to track your labour costs after you run payroll. Or, you can estimate your project's labour costs before you run payroll using estimated hourly costs. We'll show you how to set up and use payroll expenses and estimated hourly costs to track labour expenses for your project. Step 1: Learn more about payroll expenses and hourly cost estimates Payroll expenses are your total costs to run payroll. This includes employee wages and other direct costs like taxes and workers' comp insurance. Estimated hourly costs multiplies the hours worked by a fixed per-employee rate, which is helpful if you don't have a payroll solution but still want to estimate your labour costs for each project. Estimated hourly costs can include direct payroll costs and your overhead costs that are not paid through payroll like electricity at t

There are a few steps to record the pay back to the company’s owner who did some payment on behalf of the company. First, we'll have to create a Current Liability account to track the amount owing to the business owner for incurring expenses on its behalf Select the Gear icon, then Chart of accounts and New. From the Account Type dropdown, select Current liabilities. From the Detail Type dropdown, select Other current liabilities. In the Name field, type any name which is applicable ie. Payable to Owner. Select Save & Close. Select + New. Select Expense. Enter the purchase made. Next, enter the Payable to Owner account with the total purchase amount entered with a negative figure. Done correctly, the amount at the top right should read $0 as no cash has left the business at this point. Select Save & close. Select + New. Select Transfer. From the Transfer Funds From dropdown, select the name of the bank account used to pay the owner. From the Transfer Funds

Learn how to set up and use petty cash in QuickBooks Online. Petty cash is a convenient supply of cash you can use to pay small expenses. Here's a few tips on how to manage petty cash, and how to track it in QuickBooks Online. How to set up a petty cash account Here's how to create a petty cash account. When you move cash from your bank account into petty cash, you should see it in this account. Go to Settings ⚙ and select Chart of Accounts. Select New. From the Account Type dropdown▼, choose Cash and Cash equivalents. From the Detail Type dropdown▼, choose Cash on hand. Enter Petty Cash for the account name. The opening balance will be created when you move money from the checking account by writing a check or transferring funds. If you already have money to use for petty cash, enter the amount in the Balance field and choose the as of date. Select Save and close. How to manage petty cash Now that you've created the account, it's time to put some money in it. Here's how to ge

Learn how to link a bank deposit to an invoice in QuickBooks Online. When you receive bank deposits from your customer, you need to link them to an invoice. This keeps your records accurate and helps avoid errors when its time to reconcile your accounts. We'll show you how to link a deposit to an invoice. Before you link a deposit to an invoice, here's a few things to check: Make sure there's an invoice for the customer. Make sure there's a payment registered through Bank Deposit and not through Receive Payment. Confirm that the payment hasn't been entered and linked to the invoice. Find and edit the deposit You can easily find the deposit entry in your bank register. Go to Bookkeeping and select Chart of accounts (Take me there). Find the account you deposited the payment to and select Account history. Find and select the correct deposit. Then select Edit. In the Add funds to this deposit section, find the deposit. Select the Received From ▼ dropdown, and select the c

Learn how to record capital investments to track money going into your business. With QuickBooks Online, you can record personal money you use to pay bills or start your business. Accountants call this a capital investment. These funds come from you as an owner, partners, or other owners. Here's how to track adding capital, how to see the total at any time, and how to repay an investment. Step 1: Set up an equity account Before you can record a capital investment, you need to set up an equity account. Step 2: Record the investment If you’ve connected your bank account, you don’t need to record the investment. You just need to categorise the transaction associated to your deposits. If you don't automatically import your bank transactions, you can record a deposit into your equity account instead. Select + New. Select Bank deposit. From the Account ▼ drop-down menu, select the bank account you're depositing the money into. Enter the Date you deposited the money. In the Ad

You can use Pay Bills to pay a bill with a credit or debit card. Pay a bill with a credit card Here’s how to pay a bill with a credit card: Select + New. Under Suppliers select Pay Bills. In Payment account, select your credit card account. Enter the Payment date. Select the bill you want to pay. Select Save, Save and print, or Save and close. Pay a bill with a debit card Here’s how to pay a bill with a debit card:

Learn how to discount invoices and sales receipts. Want to give your favourite customer a discount? You can easily discount a percentage of an invoice or sales receipt. And if you have set discounts with fixed prices, we'll also show you how to add them as a line item on your form. We’ll show you how to set up and apply discounts in QuickBooks Online. Step 1: Turn on the discount setting When you turn on the discount setting, QuickBooks automatically creates a Discounts given account in your chart of accounts to track any discounts you give to customers. If you haven’t already, turn on the discount setting. Select Settings ⚙ and then Account and Settings. Select the Sales tab. In the Sales form content section, select the pencil ✏ icon. Turn on the Discount setting. Select Save and then Done. With this setting on, the optional discount field displays in the subtotal of your sales forms, but your customer will only see it if you add the discount to the field. Step 2: Se

You should enter past sales and Accounts Receivable (A/R)  transactions, as well as past supplier transactions, first before entering any past cheque or bank transactions. QuickBooks Online updates your bank balance as you enter payments received from customers and payments to suppliers. Ways to enter past sales and A/R transactions There are two ways to enter past sales and A/R transactions. Both methods ensure accurate reporting. Chronologically: Enter transactions (charges, invoices, credits, payments) in the same order they were created or received. This method creates a record of all the invoices you sent. In Batches: If you don't have time to record your charges in order, you can record them in batches: Enter all charges and credits that customers already know about, followed by payments received. Print a single invoice for each customer to clear their invoice record of the past activity. Enter remaining charges and credits you haven't informed custom

Do you want to know how to record a bank service fee while using a third-party merchant service in QuickBooks Online? This article will show you how. If you are using a third-party merchant service for accepting credit card payments from your customers, there are bank service fees that the credit card company will deduct from the payment. As a result, the payment amount that shows on the bank register will not match the deposit amount in QuickBooks Online. If you know the amount of the bank service fee, you can enter it directly into the register so that the register balance matches the bank statement balance. After entering the bank service fee, you will then enter the fee as a negative amount on the Bank Deposits screen when depositing a payment. To record a bank service charge as a negative amount Select + New. Select Receive Payments, then enter all the payment information. Select the checkbox next to the invoice you would like the payment to be applied to. Sele

Learn how to exclude a downloaded bank transaction. From your browser or app, you can connect your bank account and download transactions automatically into QuickBooks. Sometimes, though, you may want to keep a downloaded transaction from going into your company expenses. Here’s how to exclude it and keep your books in order. Step 1: Check if you should exclude the transaction Before you exclude a downloaded transaction, make sure it’s the right thing to do for your accounting. When you exclude a transaction, it doesn’t appear in any account registers or financial reports. Depending on the type of transaction, this may make it easier or harder for you to reconcile an account. Here are a couple situations to consider. If it's a duplicate transaction If a downloaded transaction is a duplicate of one you already recorded in your books, excluding it makes sense. You can go on to step 2. If it's a personal expense If the downloaded transaction is a personal expense, it’s best to add it to Q

Learn how to account for a withholding tax deduction on a customer invoice. Some customers are required to deduct tax from their invoice payment and then pay that tax to the government. This is sometimes called "withholding tax." If your customer pays their invoice but withholds tax, use a credit note to charge off the withholding tax as an expense. This also marks their invoice as paid in full. We'll show you how to get this done. Step 1: Set up a withholding tax expense account From the Gear menu, select Chart of Accounts. Select New. From Account Type drop-down, select Other Expense. From Detail Type drop-down, select Other Miscellaneous Expense. Name the account "Withholding Tax Expense," then Save. Step 2: Set up a withholding tax expense item From the Gear menu, select Products and Services. Select New, then choose Service. Name the item "Withholding Tax." From Income account drop-down, select the withholding tax expense account that you’ve just created. Save and clo

Learn how to record a cash back to your credit card account in QuickBooks Online. If you receive a cash back or a refunded amount of the purchases made on your credit card, we're here to help. You can easily record it to balance your transactions flow. What you should do: Select + New. Select Credit card credit. Find the appropriate account from the Bank/Credit Account drop-down box. Under the Category details, select the account that you have for your cash back rewards whether expense/income account as you see fit. Note: If you don't have an account to track your cash back rewards, you need to create one. Please see How to create a new parent account or subaccount. Enter the other needed information. Select Save and close.

In Quickbooks Online Plus and Essentials, you can track billable time by job by setting up jobs as sub-customers. Then you can track and invoice your billable time, and keep all your billable expenses organised. Step 1: Add a sub-customer To track your billable time by job, you can enter the job as a sub-customer of the customer you’re doing the work for. Go to Get paid & pay and select Customers (Take me there). Select New customer. Enter all the appropriate info for the sub-customer. Select the Is sub-customer check box. From the Enter parent customer dropdown ▼, select the parent customer. Choose Bill with parent. Select Save. Step 2: Turn on billable time If you want to bill your customer directly from tracked time, you’ll need to turn on the billable time setting. Here’s how: Select Settings ⚙. Then select Account and settings. Select the Time tab. In the Timesheet section, select Edit ✎. Turn on the Allow time to be billable setting.  If

Learn how to turn on and set up time tracking in QuickBooks Online Essentials and Plus. Use this feature to track and bill customers for the number of hours consumed in a project or activity. Here’s how. Turn on time tracking Here's how to turn on time tracking: Go to Settings ⚙ and select Account and settings. Select the Time tab. In the General or Timesheet section, select Edit ✏. Set your time tracking preferences: First day of work week▼dropdown - This affects how employees and contractors view weekly time sheets. Show service field - When this switch is on, employee and contractors who fill out timesheets can specify services performed. Allow time to be billable - When this switch is on, employees and contractors who fill out timesheets can specify if activities should be billed to a customer. Show billing rate to users entering time (optional) Select Save, then Done. Add a Time Tracking user Here's how to add a time tracking user: Go to Settings ⚙ and

Once you delete a transaction, there's no way to restore it. Using the Audit Log, however, you can recover the details of the deleted transaction so you can re-enter it. Here's how to locate and re-enter deleted transaction(s): Go to Settings ⚙. Select Audit Log. From the Filter ▼ dropdown menu, select the appropriate user, date, and event(s). Select Apply. Locate the deleted transaction. (Tip: To easily find deleted transactions, use the browser search Ctrl + F and type "deleted"). Under the History column, select View. All the information needed for the transaction can be found under the Event column. Using the information from the Audit log, you can re-enter the transaction with its original transaction date. Note: Audit Log only works for transactions that were saved.There is no available report for deleted transactions. Consider voiding a transaction instead of deleting or completely removing it from your records. Now you’re ab

Have you been locked out of your account after failed login attempts? If so, correcting the issue is quick and easy. When you're locked out of your QuickBooks Online account you'll see the following message: You have tried to sign in more than 5 times. After you see this message, you can continue to sign-in by entering the special code below the message. Note: The code that appears below the message is made up of characters that are a CAPTCHA code. A CAPTCHA code is used to secure your account from unauthorised access from automated bots. Type the letters and/or numbers that appear squashed or distorted. Enter the correct user ID and password on the sign in page. Tip: If you're having trouble remembering your user ID or password, see Reset your password or recover your user ID. Now you have secure access to your account.

You may want to track the sales of your salesman for the month for the commission payout, but you have already used the Class/Location tracking for other purposes. To record the sales for the salesman without Class/ Location tracking: Select + New. Select Invoice. Fill in the customer’s name, terms and date. Select the small Gear icon on the top right, then Add your own field. Create a field such as Salesman to input the name of your salesman. Close the sliding pop up screen. Input the name of your salesman at the new custom field. Fill in the information for the Product/Service and the amount. Select Save and close. To generate the total sales made by the salesman for a particular period Go to Business overview and select Reports (Take me there). Enter Invoice list in the search bar. Select the small Gear icon, and tick on the new field created. (ie. Salesman) The corresponding name of the salesman will appear in the respective invoice line. To filter the na

To transfer the credit from one customer to another, you must first create a journal entry and then apply the credit. Create a journal entry First, you'll need to follow these steps to create a journal entry for the transfer: Select + New. Select Journal Entry. Enter the date in Journal date. On the first line item, select Accounts Receivable (A/R) from the Account drop-down list. In the Debits field, enter the amount being transferred. In the Memo field, note the reason of the journal entry. From the Name drop-down list, select the name of the customer the credit is being transferred from. On the second line item, select Accounts Receivable (A/R) from the Account drop-down list. The credit amount and the memo auto populates. From the Name drop-down list, select the name of the customer the credit is being transferred to. Select Save. Apply the credit Next, you'll apply the credit by following these steps: Select + New. Under Customers, choo

You can track stock items that you're donating or giving away. Follow these steps to track donated stock: Select + New. Under Customers, choose Sales Receipt. From the Deposit to drop-down, select your bank account. This will create a zero dollar transaction in your bank register that can be reconciled at any time. In the Product/Service section, select the product you are donating. Change the Rate of the selected product to zero, then select Save. Select X to close out the screen. Select + New. Select Journal Entry. In the Account section of the first line, choose the expense account used to track charitable contributions (for example, Charitable Donations Expense). Enter the cost of the product in the Debits field. On the next line, choose the Cost of Goods Sold (COGS) account for the item you donated. The cost of the product entered on the line above will populate the Credits field. Select Save and close.

In QuickBooks Online, you can quickly create a report of voided cheques. Note: This report is only accurate if Void was used on all voided cheques. Cheques can also be voided by journal entry in the current period if void or voided was entered in the Memo field. To create and run a report that tracks voided cheques, follow these steps: Go to Business overview and select Reports (Take me there). In the search bar, type Transaction. Select Transaction List by Date from the search results. Select Customise. Choose your desired date range. Select Filter. From the Transaction Type dropdown, select Cheque Expense. Type Void in the Memo field. Select Run report. That's it. You now know how to create a report of your voided cheques.

You may encounter situations wherein you need to record bounced cheques and new customer payments. The outlined steps in this article will help you record these kinds of transaction. Enter the Returned Cheque with Write Cheque Select + New. Under Suppliers, choose Cheque. Enter the date that the cheque bounced. Uncheck Print Later at the top, then enter a note in the cheque number field (e.g. NSF cheque) Add the name of the customer who issued the bounced cheque at the Payee field. Set the account to Accounts Receivable. Enter the amount of the cheque that bounced. Select Save and close. Change the payment entry to apply to the bounced cheque entry Go to Get paid & pay and select Customers (Take me there). Select the name of the customer that issued the bounced cheque. Locate and select the payment record for the bounced cheque. Add a check on the bounced cheque (NSF cheque) entry. Uncheck the invoice that the payment was originally applied to. Select S

Learn how to keep your accounts, customers, and suppliers organised. If you have duplicate accounts, customers, or suppliers, you can merge them. This moves all the data into the one you want to keep and removes the duplicate. Keeping your lists clean speeds up your bookkeeping and makes bookkeeping easier. Important: Be careful merging. Only merge duplicates that were created in error. This is good bookkeeping practice. If you're an accountant, follow these steps to consolidate multiple client lists at your firm. Merge duplicate accounts Keep in mind merging accounts is permanent. You can't undo this later on. QuickBooks uses some accounts as the default for certain features. These, like accounts connected to online banking, can't be merged or deleted. If you're merging accounts that have reconciliation reports, save those reports first. The transactions remain on the merged account and stay reconciled. Go to Settings ⚙ and then select the Chart of Accounts

Learn how to update your business info in QuickBooks Online. Here’s how to change your business info in QuickBooks Online. This is for the info that customers see on sales forms and invoices, or your internal info on file with Intuit. Change your business info in QuickBooks Online Use these steps to update your business contact email, address, phone number, VAT, and more. Go to Settings ⚙ and choose Account and settings. Select the Company menu. Select any item you want to update. More fields will appear when you select an area, and the question mark for each field will tell you what it’s for. See the sections below for more info on some items. Select Save and Done to finish. Changing email When you use the steps above, you can change the email address customers see on your sales forms and where you get emails from Intuit. Note: you should only list one email in the Company email field.For other email changes, see: Change the email address for your user ID. T

Learn how to categorise bank transactions on your iOS or Android device. You can quickly categorise bank transactions from any mobile device. In this article, we'll show you how. From the Menu ☰, select Transactions. If multiple banks are connected, select the bank you want to work with. Select the transaction you want to categorise. Depending on your mobile device: iOS: Tap > beside a field then select an option. Select Accept. Android: Under Category, tap >. Select a category and then select Confirm. Select Accept.