Outline of decisions, setup and basic operation for New or beginning QuickBooks Accounting users. Reviews both Desktop and Online versions and recommendations for choosing. http://www.poweroffice.info/

1. SMALL BUSINESS ACCOUNTING
USING QUICKBOOKS
Session 1
Presented by Peggy Seville
PowerOFFICE Software Systems Inc.

2. Certified Quickbooks Pro Advisor since 2007
Working with Quickbooks since 1994
Wrote and passed Certified General Accountant’s (CGA)
certification exams in June
Will obtain Chartered Professional Accountant (CPA)
designation by September 2018
About Me
_________________________________________________________________________

3. Overview – Session 1
_________________________________________________________________________
 Quickbooks Online or Desktop
 Set up Quickbooks
 Sales & Payments
 Vendors & Bills
 Debit Card & Credit Card
Purchases

4. Overview – Session 2
_________________________________________________________________________
 Types of Expenses
 Banking & Reconciling
 HST Reporting
 Reporting

5. About …..
_________________________________________________________________________
How many of you own a small business?
How many of you provide accounting for a
small business?
How many people are already using
Quickbooks?
How may people are using the desktop
version?
Is anyone using Quickbooks Online?

6. Online or Desktop?
The first and most important decision to make.
You can upgrade from desktop to online
….but not from online to desktop!

7. Do you need to access your accounting
data anywhere and from any device?
______________________________________________________________________________________________
_______
ONLINE - YES
PC, Apple, tablet, smart phone (Apple or Android)
Internet reliability is important!
DESKTOP – NO BUT….
PC only. Use remote access tool like Log Me In Pro
for anytime access. Computer must be left on!

8. ______________________________________________________________________________________________
_______
ONLINE - YES
Plans for 3 – 5 users with access from
any location
DESKTOP - NO
Pro/Premier – up to 5 users
Enterprise – 5 to 30 users
Access on internal network only, can use remote
access tools, Quickbooks server
Will multiple people be accessing it
from different locations?

9. Do you want automatic
backups on the cloud?
______________________________________________________________________________________________
_______
ONLINE - YES
Your data is backed
up online. No worries
but you have to
always pay the
subscription! Can’t
take your own
backup.
DESKTOP - NO
Manage and be in
control of your own
data and backups.
Take backups offsite!
Don’t forget!

10. Need estimates, invoices &
payments on the go?
______________________________________________________________________________________________
_______
ONLINE - YES
Onsite entry of estimates, invoice, and receipts
from any Apple or Android device. Accept credit
cards. Email copy to client.
DESKTOP - NO
Estimates, invoices,
receipts and payments are
entered back at the office.
Accept credit cards. Email
copy to client.

11. Do you track inventory?
______________________________________________________________________________________________
_______
ONLINE – YES BUT…
Limited functionality. Simple inventory only. Uses
First In First Out not Weighted Average. Third party
apps are available.
YES - DESKTOP
More robust inventory.
Uses weighted average,
units of measure, reorder
points. Enterprise has
advanced inventory.

12. Do you need job costing
(construction)?______________________________________________________________________________________________
_______
ONLINE – SIMPLY ONLY
Not available in the online
version. Third party apps must
be used. Run simple reports by
Customer
DESKTOP - YES
Premier Contractor version has
multi-featured job costing and
reporting. Third party apps also
available.

13. Do you need custom reporting?______________________________________________________________________________________________
_______
ONLINE – YES BUT…
Limited custom
reporting. Up to 65
standard reports
available. Can be
filtered and saved.
DESKTOP - YES
Robust custom reporting.
Up to 134 standard
reports. Can be filtered
and saved. Can create
new ones from scratch.

14. Do you need employees to enter
timesheets?
______________________________________________________________________________________________
_______
ONLINE - YES
Can give employees limited
access to enter time (up to 5
users). Better to go with a third
party app. ie. TSheets (mobile
entry)
DESKTOP – YES BUT….
Time and mileage entry available. Employees must
enter onsite. Better to go with a third party app. ie.
TSheets (mobile entry)

15. Online or Desktop?
______________________________________________________________________________________________
_______
Still confused? Questions?

16. Made Your Decision?
______________________________________________________________________________________________
_______
Call to tell them you are
working with a
ProAdvisor – that’s me.
You’ll get a discount.

17. THERE’S NO PLACE LIKE HOME
MASSAGE THERAPY
______________________________________________________________________________________________
_______
Judy Wright is an experienced registered massage therapist.
She has recently has started her own business providing
massage therapy and reflexology to seniors in their own
homes.
She also sells heating pads and ice packs to her clients. She
has purchased Quickbooks Pro to manage and track her
sales and expenses.

18. QUIZ!______________________________________________________________________________________________
_______
What version of Quickbooks is available for access from your
phone, tablet or computer?
ONLINE
What version of Quickbooks is best for inventory?
DESKTOP
What user should be the only one to enter prior period
transactions?
ADMIN
What field is used to track projects or different business
segments?
CLASS

19. MORE QUIZ!______________________________________________________________________________________________
_______
What list is used to set up all your expense categories?
CHART OF ACCOUNTS / ACCOUNT LIST
What kind of accounts would you set up for tracking different kinds
of home office costs?
SUBACCOUNTS of HOME OFFICE EXPENSE
What menu would you choose to turn on the top icon bar?
VIEW MENU
What menu would you choose to set a closing date?
EDIT/PREFERENCES then ACCOUNTING PREFERENCES
COMPANY MENU – SET CLOSING DATE

20. QUIZ AGAIN!______________________________________________________________________________________________
_______
Where do all the customers and their information appear?
CUSTOMER CENTRE
On what list are products and services entered?
ITEM LIST
What kind of template would you set up if you sold something and
collected payment right away?
SALES RECEIPT
Where do you find reports showing how much customers owe?
REPORTS / CUSTOMERS & RECEIVABLES
AR AGED, OPEN INVOICE

21. YUP - MORE QUIZ!______________________________________________________________________________________________
_______
How do you create a shortcut on the top icon bar of a report?
OPEN REPORT. VIEW. ADD ‘REPORT’ TO ICON BAR
How do you turn off Auto Apply Payments?
EDIT PREFERENCES / PAYMENTS / COMPANY PREFERENCE
In what account are payments held until they are deposited in the
bank?
UNDEPOSITED FUNDS
How do you then record the deposits of the payments?
BANKING / MAKE DEPOSITS
RECORD DEPOSITS ICON (HOME PAGE)

22. YOU PASSED!

23. QUIZ – VENDORS & BILLS______________________________________________________________________________________________
_______
What do you use to record money you owe to suppliers or
vendors?
BILLS
How do you deduct a credit from a bill?
PAY BILLS / SELECT BILL / SET CREDITS
How do you track expenses incurred for a customer?
FILL IN THE CUSTOMER:JOB FIELD
How do you track expenses incurred for a project or business
segment?
FILL IN THE CLASS FIELD

24. MORE QUIZ!______________________________________________________________________________________________
_______
How do you pay a number of bills all at once?
VENDORS / PAY BILLS
Where do you go to print out a number of cheques?
FILE / PRINT FORMS / CHEQUES
What is used to record an interac debit purchase from your bank ?
WRITE CHEQUES
What kind of an account do you need to setup to record Visa or
Mastercard purchases?
CREDIT CARD ACCOUNT
Where do you find transactions you have memorized?
LISTS / MEMORIZED TRANSACTION LIST

25. YOU PASSED AGAIN!