How to Use QuickBooks Online in 2025

Welcome to today's tutorial with David! By the end of this guide, you'll be able to manage your business finances more efficiently using QuickBooks Online without any prior accounting knowledge. Here's what we'll cover:

Topics Covered

• Sending Invoices
• Getting paid
• Paying bills
• Tracking expenses
• Accessing financial reports

QuickBooks Online: Choosing a Plan

1. QuickBooks Home Page:
   • Access via the provided link or card.
   • Click on "See plans and pricing" to view options.
2. Plan Options:
   • Simple Start: For a single person managing company finances.
   • Essentials or Plus: For teams of accountants; Plus is preferred for inventory management.
   • Advanced: For larger teams, up to 25 users.

Setting Up Your QuickBooks Account

1. Sign-Up Options:
   • 50% off retail price for three months
   • 30-day free trial
2. Account Setup:
   • Fill in email, password, and phone number
   • Verify information and provide credit card number

Navigating QuickBooks Online

• Home Dashboard:
  • Displays to-do items, sales, and expenses.
• Main Menu:
  • Access features like sending invoices, categorizing transactions, viewing cash flow reports.

Getting Paid

1. Link Bank Account:
   • Find the "Link your bank" widget on the home page.
   • Click "Find your bank" and sign in to link your account.
2. Create an Invoice:
   • Access the sales menu, then click on "Invoices."
   • Choose or add new customers.
   • Set invoice properties such as payment terms, invoice date, due date.
   • Add line items, set the price, description, and income account.
3. Setup Payment Options:
   • Choose from options like automated sales tax, deposit, discount, and shipping fees.
4. Send Invoice:
   • Save for later or email the invoice directly from QuickBooks.

Managing Payments and Bills

1. Link Bank Account:
   • Link it through the home page or the transactions menu.
   • Sign in to your bank account to connect it with QuickBooks.
2. Categorize Transactions:
   • Navigate to Transactions > Bank Transactions.
   • Categorizing helps in budgeting, revenue reporting, and tax compliance.
3. Paying Bills:
   • Forward incoming invoices to a special QuickBooks email address.
   • Verify and review bills before payment.
   • Save and schedule payments, including bank transfers (first five transfers free per month).

Financial Reporting

• Profit and Loss Statement:

  • Track operating income, gross profit, and net income.
  • Drill into expenses or income line items by clicking on the amount.
  • Customize with different filters, formats, and time comparisons.

• Balance Sheet:

  • Overview of assets (cash on hand, invoices) and liabilities (outstanding bills).
  • Assess the general health of your business.

Quick Actions on Mobile

1. Add Invoice:

   • Use the QuickBooks app to create and send invoices faster.
   • Use Intuit Assist to auto-populate invoices from photos.

2. Snap Receipt:

   • Easily capture and upload receipts to QuickBooks for automatic transaction matching and categorization.

Now that you've mastered these functionalities, you can efficiently manage your business finances in QuickBooks Online! Use the link in the description to get started on your QuickBooks journey today!