Our QuickBooks Online support team is again here with another article. Know how you can keep eye on the health of your business. When you own a business. It’s important to keep an eye on the health of your business. The most important information for any business is to see what you’re really making and spending.
QuickBooks Online is more than just an online book-keeper. It can help to improve your cash flow, your customer relationships, your inventory readiness, and your future.
if you are already using QuickBooks Online, you know how much effect its bookkeeping abilities have had on your company’s accounting tasks.
Once you’re connected to QuickBooks, it helps you categorize the previous month’s transactions. The first transaction you see is an expense if possible with books fills in who you paid and what it was for.
You can change this information if you need to in this case the office applies is correct. So, add it to your books. This is where Quick Books starts to help you out if found other expenses that look like the one you just added and has assigned them all the same category. If all this looks good to you add them all.
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Now here’s a check from a customer you deposited QuickBooks categorizes it to a sales account. Add it so that you have a record of this income if Quick Books isn’t sure about a category for an expense. It’ll leave it as uncategorized you can pick a category or choose to ask my accountant to file it away to go over with your accountant later.
Congratulations. Now you can see what you made and spent last month. Now that you’ve reviewed last month’s expenses and income. It let you know if you have earlier expenses that need to be reviewed as you categorize more expenses. QB learns from you.
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So, it can help a transaction in green means it recognizes that you categorized a similar transaction in the past so it automatically assigns the same category for you. If you see a category in black. That’s QB is the best guess for how to categorize this transaction. If it’s a wrong guess just change the category and QuickBooks learns for next time.
Reports like the profit and loss report show you more detail about how your expenses are categorized. You can even see your expenses as a percentage of your income. This is very helpful in understanding where your money is going now it’s your turn to see the health of your business.
Need more Help? Call our QuickBooks Online Support Phone Number +1-855-441-4417
Still having any question? Well, you can ask or get premier QuickBooks customer service by dialing our support phone number. Our United and Canada expert are eagerly waiting to solve out all your queries. You can ask your queries related to any other topic, versions, a product of Intuit QB. We have well qualified certified proAdvisors, who can really fix your errors within no minutes.
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