Quick Start with an Expert: Kristian's Top Tips for QBO

Hi Community! Have you felt overwhelmed learning QuickBooks Online? Are there still some features you aren’t quite sure how to navigate? Today I’ve asked our expert Kristian to share his top 3 tips when it comes to using QBO to grow your knowledge in the product and hopefully make you feel more confident.

Kristian will be the guest for this month’s Mastering QuickBooks discussion on February 26th, where you can ask him anything regarding QBO. You can drop by the discussion board anytime between 6am-2:30pm PT to ask Kristian a question, so be sure to drop by!
Link that will take you to the event page:  https://quickbooks.intuit.com/learn-support/webinars-and-events/mastering-quickbooks-get-real-time-s...

Let’s jump in and go over Kristian’s top tips for QBO and how it can benefit your business:

1. What's the Undeposited Funds account for? Undeposited funds represent all the individual payments you received from your customers. When you receive payments for invoices, instead of directly depositing them into your bank account, you record them in QuickBooks by marketing the corresponding invoices as paid and assigning them to the Undeposited Funds account. This process allows you to keep track of all individual payments received regardless of the payment method used. By collecting them in the Undeposited Funds account, you can efficiently manage and reconcile your incoming funds before making a physical deposit to your bank. Then, once you deposit the actual funds into your bank, you'll come back to QuickBooks and create a deposit transaction using the payments stored in Undeposited Funds. 

2. How do I get my QBO interface to look like QBDT? Worry not, we have a solution for that! Simply download our QuickBooks app for Windows or Mac, and then click the toggle button to switch between Map View (which resembles QBDT) or Dashboard View (the standard QBO interface). 

3. How can I mark an individual transaction as Reconciled? That's easy! First, navigate to your chart of accounts, find the register your transaction is assigned to, and click "View register". Then, locate your transaction and click on it. Once you've done that, simply click the white box next to the balance on the far right. That will change your transaction's status to C (for "Cleared"), and clicking it again will change it to R (for "Reconciled").

And there you have it. I hope this helps sharpen your QuickBooks toolbox and guides you in the right direction. QuickBooks Online has so many amazing capabilities that it can be hard to keep track of them all! If you have any questions regarding your account or navigating QuickBooks, join us on the 26th for a QBO discussion with Kristian. See you then!