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In some instances, when previewing a transaction, such as an Invoice, Bill, Sales receipt, etc., the column headers for the form may be missing.  Frequently, this is caused by the colour scheme being too light for the background and foreground. This can be resolved by changing the colour choice for the column. Here's how to adjust the background colour of the column headers: Select + New. Select the form you want to adjust. Select Customise. Choose New style if you want to create a new style, or Edit current if you want to edit your current form. Select Splash on some colour.(Note: This option will appear as Try other colours if you've customised your forms previously.) Select Done.

Business owner often gives out a lot of freebies or free samples to attract customers. This can be tracked in QuickBooks Online using Stock Qty Adjustment feature. Here are some easy steps to record stock given to customers as free samples: Go to Get paid & pay and select Products and services (Take me there). Select an existing stock (or create a new stock). Select + New. Select Stock Qty Adjustment. Under the Stock adjustment account dropdown arrow, select then stock adjustment account. Under the Product column, enter quantity on hand (Note that QuickBooks Online will auto-calculate the change in quantity). Select Save. You can see the change in quantity on Product and Services tab.

Learn how to record a bounced or Non-Sufficient Funds (NSF) cheque using an invoice in QuickBooks Online. To record a bounced cheque using an invoice, you have to create two product or service items, and set one up to use a bank account and the other to use an income or expense account to track bank service charges. You then create an invoice for the bounced cheque and fees and record the bank service charge. Creating a new product or service called Bounced Cheque and linking it to the original bank account instead of an income account reverses the cheque in your bank register. When you create a new invoice for the fees the customer owes you and receive a new payment, a new deposit amount is created. We'll walk you through the process with these easy-to-follow steps. Step 1: Create two Service items The first step is to create Service items for the bounced cheque and fees. Select the Gear icon at the top. Under Lists, select Products and Services. Select New. In the Product/Servic

Learn how to enter your bounced cheques in QuickBooks Online. If a cheque you wrote bounces, you need to take care of the accounting in QuickBooks. A cheque bounces when your bank account has non-sufficient funds (NSF) or doesn’t have enough money to cover the cheque amount. When this happens, your bank charges you an NSF or bank fee. How you plan to handle the fees influences how to handle the accounting. Follow the steps based on how your cheque bounced. Scenario 1: Your cheque bounced, but your bank covered it and charged you a bank fee You only need to record the bank fee since your cheque was processed. To do this: Select + New. Select Expense. From the Payee ▼ dropdown menu: Select the supplier if the bank charged it to them. Select the bank if they charged it to your account. From the Payment account ▼ dropdown menu, select the account you use to pay expenses. To distinguish it from other expenses, enter “NSF fee” in the Ref no. f

Learn how to track the items that you’ve paid but haven't received yet in QuickBooks Online. You can record a payment to your supplier, without affecting the stock quantity on hand until you've received the items. The following steps work well if you don't want to see a credit in Accounts Payable or when you want to separate prepaid stock from the stock asset account. Step 1: Create a Purchase Order (PO) when the order is placed. Select + New. Select Purchase Order. Fill in the appropriate fields. Go to the Item details section, then enter the details of the product/service you are purchasing. Select Save. Step 2: Write a cheque to the supplier then categorise the payment under a prepaid stock account. Select + New. Select Check. Select the supplier. In the Category details section, choose another current account such as Prepaid Stock then enter the amount of your payment. Select Save. Step 3: When the stock is physically received, you c

If you earned interest, you can easily record it in QuickBooks Online using the Bank Deposit feature. You can track the interest from bank or savings accounts, investments, or interest payments to you on loans your business made. Here are a few simple steps to record your interest earning Go to Bookkeeping and select New to create a new interest account. Under the Account Type column, select Other Income. Under the Detail Type column, select Interest Earned. Under the name column, input any name which is applicable, then select Save and Close. Select + New. Select Bank Deposit. Under Add funds to this deposit, select the customer’s name who paid the interest, then select the interest account you just created. Enter a description, payment method and amount, then select Save and New. On the Dashboard, you can notice that the deposit has already been recorded under Bank accounts.

You can use Journal Entry to split the profit by different owner’s equity accounts. The steps are as below: Select + New. Select Journal Entry. Enter the entries as follow: Debit retained earnings Credit Owner’s equity account A Credit Owner’s equity account B Credit Owner’s equity account C Select Save. After that, run a Balance Sheet report to check the decrease in retained earnings and Increase in Owner’s equity for the different owners.    

Learn how to find payments you expect to see in the Bank Deposit window in QuickBooks Online. If you don’t see a payment in the Bank Deposit window, don’t worry. Before you make a bank deposit, make sure you put customer payments in your Undeposited Funds account. If payments are in Undeposited Funds, they automatically appear in the Bank Deposit window. Here’s how to track down and move payments to Undeposited Funds so they show up in your Bank Deposit window. Step 1: Review the payment If you don’t see a payment in the Bank Deposit window, retrace your steps. You may have put the payment into another account. Go to Bookkeeping, select Transactions, then select All Sales (Take me there). Find the invoice payment or sales receipt you’re looking for. If you use online banking and don’t see the payment here, make sure you’ve downloaded and categorised it. Select the transaction to open the form. Review the Deposit to field. Make sure you select Undeposited Funds. Select Save

You can depreciate an asset without the use of a Journal Entry. After creating a depreciation expense account, follow the steps below: At the end of the year when you or your accountant have calculated the depreciation amount, enter the transaction below: Select + New. Select Expense. Under Category Details, select Other Expense, then enter the depreciation amount in the Amount column. In the second line, select the asset account you are depreciating and enter the same amount in a negative figure. Select Save and Close.

It is common that for new businesses, the first financial year would last longer than 12 months. QuickBooks Online would automatically transfer the net profit and loss of the year to the Retained Earnings account, if the Balance Sheet is set with the start date to be on the 1st day of the financial year. For example, a business's financial year starts in January and ends in December. On the first year, the financial year spans 13 months so the first financial year ends in January of the following year instead of December. To capture 13 months’ worth of net profit in the Retained Earnings account, we'll need to transfer all the sales and expense incurred on this 13th month to the Retained Earnings account (the first 12 months would be auto captured by QuickBooks Online). We'll first have to tabulate the total sales and expense incurred on the 13th month by simply running the Profit & Loss report. Referring to this screenshot below, the date range is set as 1st Jan - 31st Jan. Make a

Currently, QuickBooks Online International version doesn't have payroll functionality inbuilt. As a workaround, journal entries are a good way to record the accounting information for your payroll. Below is an example of how to record a payroll journal entry transaction. Example: Fred's Residential Remodeling Company has five employees.  For the Journal entry, you would take the gross pay for the employees.  In this example, $4055.00 is the total amount. Select + New. Select  Journal Entry. Under Date, select the payroll payment(s) date. (Optional) Input Entry # for journal entry. Debit and Credit accounts: Debit expense account used to track gross wages. ($4,055.00) Debit expense account used to track Employer Contribution (e.g. CPF, EPF etc.). ($251.41) Credit Bank account payroll is deducted from. ($4306.41)Note: To make entry easier next time, the next two steps go over how to save the tran

Learn how to void a transaction in another period without deleting it in QuickBooks Online. Instead of removing the transaction, you can record a reversing entry to void a transaction in another period. You can restore the transaction without any problems since it's still on record. Follow the steps below to void transactions without deleting any of your records. Step 1: Void the transaction Print the transaction journal for reference Go to Business overview and select Reports (Take me there). Select Transaction List by Date. For Report period, select All Dates, then select Run report. From the transaction list, select the transaction you want to void. Select More, then select Transaction journal from the pop-up menu. Select the Print (printer) icon to get to the Print page. Select Print. This will serve as your reference. Create a reversing Journal entry to void a transaction Select + New. Select Journal Entry. In the Journal date field, enter the

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 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