Getting the Most out of QuickBooks
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Are you new to using QuickBooks Online or are simply looking for tips when it comes to setting up your invoices? If so, then you’re definitely in the right place. Today we are here with Chance, a T2 Supportability specialist, who has shared his top tips on getting started with invoicing within your online account.
A little bit about Chance is that he’s passionate about helping our customers get set up for success to ensure that they can get back to running their businesses quickly and efficiently. So now let’s go ahead and dive in to see what he has to say!
1. Customize your invoice template:
One of the coolest things about QuickBooks Online’s invoicing platform is that it allows customers to set up their invoices to fulfill the unique needs of their specific business. Not every business owner needs to know their customers’ addresses or include a tracking number when sending out an itemized invoice. Well, the customization option makes it so they can include whatever fields and details they want on their invoice template and remove the ones they don’t.
New users just starting to utilize QuickBooks Online may wonder where they can go to begin creating their brand-new invoice templates. Well, they have 2 options:
- They can open up a new invoice and get started there. Once they’ve opened the ‘Create Invoice’ page, they’ll notice a black banner at the bottom of their page. If they select the ‘Customize’ option in the center, they’ll have the option to create a ‘New Style’ and get started customizing the invoice templates that are right for them, their customers, and their business.
- New users can also approach this form customization option from a more macro perspective. Navigate to the Gear icon in the upper right-hand corner and select ‘Custom form styles’. This page will allow you to create and review any custom templates you come up with for your invoices.
Make sure to check out this helpful step-by-step guide on getting started with customizing your invoice
template.
2. Setup your Products and Services:
Now if I’m not mistaken, almost every business generates income by providing either products or services (or both) to their customers. QuickBooks Online allows users to organize their list of products and services to include on the invoices they’re providing.
Specifying those products and services, the cost of those goods, and the various income accounts they want to associate with each item will go a long way in setting businesses up for success and make tracking those sales so much easier and more streamlined. I would highly recommend new users take a look at that page and start as soon as they sign up for their QBO account!
You can find all the details and steps on getting this set up within your account in this article.
3. Remember to manage the invoice AFTER you create it:
This last bit of advice may seem silly and obvious, but you’d be surprised how many new QuickBooks Online users forget to follow up on their open invoices after creating them. Unlike sales receipts, invoices require some management after they’ve been created to fully notate the true nature of the transaction. Was the invoice paid? Did the customer cancel the order last minute and does the invoice need to be canceled? Does a payment reminder need to be sent out and a late fee applied? Did you decide to refund the customer on that invoice?
These sorts of situations can happen all the time when you’re running a business, and it's important for QuickBooks users to get into the habit of regularly and accurately updating those invoices to reflect the true state of their Sales progress and accounts receivables.
That’s all we have for you today! We hope you found these tips from Chance on getting started with invoicing helpful! If you have any follow-up questions, feel free to let us know here in the QuickBooks community. We’ll be back with more tips from the experts next month so see you all next time!
