Welcome to my RU-vid Channel where I focus on all things QuickBooks (both Desktop and Online platforms!) as well as throwing in the occasional motivational video AND content on Bookkeeping Basics / Double-Entry Bookkeeping concepts. I would love it if you would subscribe to my channel and share it with others. And if you are interested in scheduling some free time to speak to me about any of my individualized training services, my Calendly link is in the comments below. Thanks for your support!
You round trip it ie export from the old QBO file, make sure it’s formatted properly for import in the new QBO file (you can download a sample file from QBO to make sure all the mapping and data placement is correct, etc.)
It's easier to group sort the transactions. Go to the gear symbol just above the transactions on the right. Turn on the toggle for grouping, then you can sort it by description, date, amount and payor name it will group similar. Also you can view way more than 5p at a ti.e on the settings gear icon as well. Scroll to the bottom and select 50, 100, 200, 300 at a time to view
Great video explainer, Kathy! I haven't used asterisks, but I like the look. May have to start using some. And, the "Company Name" easter egg in the video was a good touch! 😆
Here’s a link to my partner reseller. You’ll be able to purchase and/or upgrade your QuickBooks products here through Monday only. You can also purchase a QuickBooks online subscription at the cheapest rates which also includes a QuickBooks payments account: completebusinessgroup.com/kathy-grosskurth-bookkeeping-clean-simple/ You’re still not sure what to do, you can book some time with me on my calendar link: calendly.com/kathygrosskurth/freeconsult Don’t wait… after Monday, you lose your opportunity, so ACT NOW!
I found a support article that might help you navigate some of the issues you are running into. If you are still struggling, I suggest reaching out to Intuit support. quickbooks.intuit.com/learn-support/en-us/help-article/accounting-bookkeeping/spreadsheet-sync/L3jiBUftI_US_en_US
I've used quickbooks desktop (took a community college QBD class), Sage MIP, and QB online. QBO is by far the worst program i've used and I do not like it at all. It is so confusing. I would hesitate to take a job that used QBO. QBO is so cluttered compared to desktop, and it's hard to navigate compared to QBD. QBD is an amazing tool and I would recommend it any day over QBO.
A lot of people feel the same as you. I like both platforms for different reasons. I also teach end users how to use both. It’s a matter of personal preference but in some cases QB Desktop is superior to Online. It’s great to have options! 👍
It's super-nice that the AI notices unpaid Invoices when the payments come in, then creates the payment and deposit transactions for you. Like you said, this works when you have one-off invoices for different dollar amounts that are individually deposited. But if you're receiving payments on more than one invoice, batching more than one payment together, or have several possible matches for the same dollar amount, be sure to go to create the invoice payment yourself first, put it in Undeposited Funds/Payments to Deposit, then use +New > Bank Deposit to create the match manually. If you don't, you'll create duplicate revenue!
I talked to that “team member” today (he’s no longer a team member as I removed his credentials) and the story gets worse: it looks like the hijacker was able to breach his personal and business accounts and now he doesn’t have access to those accounts. He’s working with his IT person and the financial institutions to regain all that information back. He’s basically been rendered unable to do any tax work right now. ☹️
That is a good question and honestly I don’t know the answer… I would think that you should be able to apply one of your templates to a new file through the setup wizard. If not, then it’s not too much of an extra step to skip those parts of the setups wizard and apply templates to a new QBO file. I suggest submitting your feedback to Intuit as that would be a great suggestion for this feature!
Thanks for preparing this video. This is a great new feature of QBO. Question, can you use this when setting up a new company during setup, or do you have to set the company up and then come back and apply this template from the Accountant copy? when asked what chart of accounts to use is there an option to select a preexisting Template?
You can add some of these things as recurring transactions depending on what they are. But I don’t think all of these can be made recurring. Again it depends on what you’re trying to do.
You can either upload them from your computer or use the mobile app. If you login with the mobile app you can take a picture of the receipts and they should match to your transactions that come in if you have them connected in the bank feeds.
@KathyGrosskurth do u have videos of uploading in general? And also I saw other videos where they had personal Trans uploaded as well for normal stuff like groceries etc, I was under impression that we only connect our business account only for only business things for the business? Thanks if u could answer
I don’t recall offhand if I have a video demonstrating the QuickBooks app or uploading the receipts from the computer. But I’m sure if you search RU-vid you should be able to find something. You can also go to the Intuit community resources and look it up on there too. I’m sure it’s been covered there.
HI Kathy, thanks for your amazing video. I want to merge two companies and make a new company with their data. can you please help me in this matter? thanks a lot
Depending on how far back you want to go with the data, you may be able to bring in data from the newer company into the old, ie connect those bank feeds, etc. in the other company and work from there. Or if you want to start fresh from a certain date, say the end of 2023, then tie the 2023 ending balances in QB and bring in all the bank transactions from 1/1/2024 onward for both entities. I suggest speaking to the person's tax preparer or CPA to find out their preferences.
I really don’t know the answer to this question, sorry. I believe that it may now work with Google Sheets now, but I’m not 100% certain if that’s true or not.
I am not sure I’m seeing a huge benefit, especially for the paid version. I can open up additional tabs without it, and I have my laptop and two additional monitors that I work with so I can easily work with three different tabs open in QuickBooks, one for each monitor.
For those of us who have used QBO for years, RightTool has been a godsend. I understand that some may not see the benefit. If you have your own processes set up, then that’s great! Having said that, it might be worth it to try the free version … and who knows? You might find some stuff in there that will help you. But you won’t really know until you try it!
I had fun trying to get ChatGPT to help me with an amortization schedule. Watch the video for the entire demonstration: ChatGPT Isn't Always Correct - A Practical Illustration ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-o-X90mMalRo.html
Sounds like you came to the same conclusion, it's just not trustworthy. Even with GPT 4, there was no way to get concise repeatable results. Unfortunately it's not a tool for calculation, so back to spread sheets. :)
Yeah, I was really disappointed that I was unable to generate the amortization table. And I'm not too surprised to hear that the results wouldn't be much better using the paid 4.0 version. Thanks for your input and feedback - much appreciated!
We found that as soon as you try to do multiple steps on prompts it really falls apart. The problem is that it starts to hallucinate previously defined values. One other thing, it really cannot work from a final value backwards well at all, just getting numbers completely wrong. One huge problem we found was that it gave completely invalid formulas when trying to define calculations. Using specific software was far more precise and trust worthy. As soon as we started finding invalid numbers, we couldn't trust it would give us correct results, thus cancelled our subscription. We only use it very sparingly now.
Yes, it seems as if using multiple steps causes it to malfunction, and unable to follow the logic. I wonder if I replicate successive steps in separate chat queries if it will do better? I am guessing probably not. Oh well... so have you found a reliable tool to set up an amortization schedule like the one I was trying to come up with? I am open to all suggestions. Might be willing to pay for a workable spreadsheet where I can just plug in the values and have it calculate it for me. Tried some of those online calculators and none seem to work as I thought they would. Anyhow, thanks for your feedback.
@@KathyGrosskurth the design of these systems means they generate non-reproducible results, so one time it might work, the other it won't. That's the problem with things like "Large Language Models" and generative tools in general. That squash a ton of knowledge into a small space, so it can help as a reference manual, but not act repeatedly performing things like mathematical calculations. There are already existing tools for amortisation which do a great job, so it's not a big loss.
Will Solopreneur calculate state income tax? I can't understand why self-employed doesn't. This doesn't give us a complete tax picture. It creates a lot of guesswork.
Hi Kathy, I just started playing with this feature. I know I can change the date span, but I'd like to see farther into the future and less into the past. Have you discovered a way to set the starting date?
I don’t know if you can set the date too far in advance or not. I haven’t played around with it enough to know. You might want to give Intuit your feedback to let them know you would wish to have some control over past and future dates!
Thank you for providing an excellent tutorial on handling 3rd party payroll input! This saves a tremendous amount of time spent on manually entering each employee's payment info. In a scenario where the payroll taxes are not paid until the end of each quarter and some of the paychecks are not cashed out until next month, could you advise on how to match these expenses to the bank transactions for each month when reconciling with the bank statement balance? Thank you!
Thank you for your comments! For individual / manual checks, Seth David has an excellent video discussing entering those in and how to manage that whole entire process where checks are not cashed, etc. You may also want to do a search on Shannon Theis as her specialty is all payroll, all the time. Hope this helps you!
