Welcome to QuickBooks Online Certification Training

Transcription

1 Welcome to QuickBooks Online Certification Training Presented by: Bryce Forney, CPA Certified QuickBooks Online Advanced ProAdvisor MB Raimondi, CPA.CITP Certified QuickBooks Online ProAdvisor

2 Bryce Forney, CPA In service to micro-businesses primarily in the San Francisco bay area Primary revenue sources include tax prep, financial statements, and business valuations Completely paperless and virtual QuickBooks certification collector Member Intuit Trainer/Writer Network

3 MB Raimondi, CPA.CITP Certified QuickBooks Advanced ProAdvisor Intuit Premier Reseller/Solution Provider Certified QuickBooks Enterprise Solutions Certified QuickBooks Point of Sale Certified QuickBooks Online 15+ Years teaching QuickBooks nationally to end users and accountants/consultants Charter Member, Intuit Trainer/Writer Network (TWN) CITP (Certified Information-Technology Professional) MS, Taxation Sleeter Group Certified Consultant Member/Instructor, National Advisor Network (NAN) Co-Leader of Greater Fairfield CT Group of NAN Top 100 ProAdvisor 2014 Trumbull, CT

4 Prepare for today 1 2 Preferred browsers: To ensure the best training experience, please download one of the following free browsers in advance: - Google Chrome - Safari (Mac Users) - Firefox Sign up for QuickBooks ProAdvisor (it s free): In order to take your exam at the end of the day, you must be enrolled in the QuickBooks ProAdvisor Program, which is now free! Go to: (all lower case) OR 3 Save your battery: You ll need your laptop at the end of the day. Some charging stations in the back of the room. This is a shared resource, not intended as a work station.

5 In-person CPE Process You must check-in at beginning and if you have to leave at lunch (we hope you don t), please check out The training is eligible for up to 5 hours of CPE. The exam time is not eligible for CPE. Certificates are ed directly to you within 3 weeks to the same address used to register for the training. You must keep a copy for your records.

6 Training Materials For your reference you have access to additional training from your QuickBooks ProAdvisor member site: - Supplemental training guides - Self-paced training modules Today s webinar presentation slides have been provided

7 Additional Resources Intuit Academy Webinars intuitacademy.com QBO Blog qboblog.com Intuit Accountant Blog blog.accountants.intuit.com Quickopedia: intuitaccountants.com/quickopedia

8 Admin Details 10 Min Breaks: ~ every minutes Lunch: 12:00 1:00pm Questions: Related to the content covered in this training Test Drive:

9 Agenda 9:00am 12:00pm QuickBooks Online features, set-up & navigation for you and your clients Managing revenue, expenses/purchases "money in and money out" Company settings & customization 12:00 1:00pm Lunch Break 1:00pm 3:00pm Reporting, resolving client data-entry errors & troubleshooting QuickBooks Payments, Invoices, Payroll & Intuit approved add-ons (Apps) 3:00pm 5:00pm Get your certification done! Complete your exam

10 QBO Certification 5 Sections 95 Questions total 4 Attempts to pass (each section) 80% to pass each section Exam takes approximately 2 hours BONUS OFFER! Complete your QBO Certification on-site today to earn your choice of: $30 Amazon Gift Card Certified QuickBooks Online ProAdvisor Shirt Go to ProAdvisor.Intuit.com and log in

11 Training Modules 1. Getting Started 2. Recording Transactions 3. Reporting 4. Troubleshooting 5. Expanding Usability

12 #1 Getting Started

13 Topics Topics 1. Product Overview 2. QuickBooks Accountant 3. Setting Up Your Client s QuickBooks Online

14 Learning Objectives Learning Objectives After attending this module, you will be able to: Identify the benefits of using QuickBooks Online Determine which subscription level of QBO to recommend Identify steps to sign up for QuickBooks Online Accountant Recognize workflows that can be initiated from within QBOA Identify the steps to import data into QuickBooks Online Recognize the steps to setup and modify Lists & users Recognize the steps to manage Company Settings

15 Topic 1: Product Overview Benefits of Using QuickBooks Online vs Desktop QBO Simple Start QBO Essentials QBO Plus

16 Benefits of QuickBooks Online Anytime, anywhere online access Data hosted & backed up by Intuit s secure server No software programs or local data to manage Robust assistance center Easy app sync to QBO server

17 Benefits of QuickBooks Online Banking transactions automatically downloaded Reports sent automatically via Scheduled transactions created and sent automatically Tracks more information in Audit Log No need to upgrade; updates applied for you

18 Benefits of QuickBooks Online Access from both PC, Mac, Chrome books, mobile app Class & Location tracking (Plus) Attachments ed with invoice Online invoices with messaging Multiple AR & AP lines on journal entries

19 QBO Simple Start 1 user + 2 accountant users Create and manage invoices and estimates Record expenses; no accounts payable Unlimited bank & credit card account feeds Manage sales tax

20 QBO Essentials 3 users + 2 accountant users Automated invoicing Accounts payable Enter delayed charges to be invoiced later Company scorecard

21 QBO Plus 5 users (up to 25) + 2 accountant users Purchase orders FIFO inventory Budgets Estimates Class and location tracking Prepare and e-file or print 1099s Unlimited time tracking and reports only users

22 Topic 2: QB Online Accountant Sign up for QBOA Your Practice Clients Team ProAdvisor Your Books Gear icon menus Wholesale billing Sample company Help Working with client list

23 Sign up for QBOA (all lower case) ProAdvisor portal Intuit site m/accounting/quickbooks/o nline-accountant

24 DEMO

25 Topic 3: Setting up Clients in QuickBooks Online Setup Wizard Importing from QB Desktop Importing Lists Manage Users Company Settings Chart of Accounts Connect to Bank

26 Setup wizard for new QBO subscriptions Setup Wizard

27 Enter company name, address & logo Setup Wizard

28 Set up QuickBooks Setup Wizard

29 If no QB desktop data to import Setup Wizard

30 the setup wizard customizes QBO for you Setup Wizard

31 If client has QB desktop data to import Setup Wizard

32 Import QuickBooks desktop data Setup Wizard

33 Select QBD version for import instructions

34 Start in QuickBooks Desktop; press F2

35 Targets = transaction distribution lines

36 Maximum 350K targets

37 File > Utilities > Verify Data

38 Backup & Rebuild Data, if needed

39 Company > Export Company File to QuickBooks Online

40 Follow instructions on export wizard

41 confirmation

42 Compare BS & PL, accrual-basis, all dates

43 Importing Lists?

44 Import lists & bank activity

45 DEMO

46 Connect bank & credit card accounts

47 Select bank and log in

48 Associate bank account to QBO account

49 Specify activity to download THANK YOU FOR ATTENDING

50 Module #1 - Questions

51 #2 Recording Transactions

52 Topics Topics 1. Navigating QuickBooks Online 2. Accountant Tools 3. Sales & Revenue 4. Expenses & Purchases 5. Additional Transactions

53 Learning Objectives Learning Objectives After attending this module, you will be able to: Identify best practices when using QBO Recognize key components of the QBO interface Identify accounting related preferences Recognize the tools available in the Accountant Toolbar Determine appropriate sales & expense related settings Recognize alternative entry points for entering sales & purchase transactions Identify additional transactions added from the QuickCreate menu

54 Topics Topic 1: Navigating QBO Best Practices Client Home Customer Center Vendor Center Common Workflows

55 DEMO

56 DEMO

57 Topics Topic 2: Accountant Tools Accounting Settings Accountant Toolbar Accountant Tools

58 DEMO

59 Topics Topic 3: Sales & Revenue Sales Settings Customer Center Sales Transactions Recurring Transactions

60 DEMO

61 Topics Topic 4: Expenses & Purchases Expenses Settings Vendor Center Expense Transactions Banking Center

62 DEMO

63 Topics Topic 5: Additional Transactions Time Tracking Bank Deposits Transfers Journal Entries

64 DEMO

66 #3 Reporting

67 Topics Topics 1. Reports Center 2. Customizing Reports 3. Benefits of Reporting 4. Reporting by Subscription Level

68 Learning Objectives Learning Objectives After attending this module, you will be able to: Identify the benefits of using QBO reports Recognize differences in reporting capabilities by subscription level Identify common report settings and browser modifications Indicate functionality of grouped reports Determine appropriate workflows to manage AR & AP

69 Cash basis = date paid Reporting

70 Accrual basis = date incurred Reporting

71 Report Center Reporting

72 Report tabs Reporting

73 Reporting

74 Accountant Reports

75 DEMO

76 DEMO

77 Topics Benefits of Reporting Quickly locate information Customize in minutes Get the bigger picture

78 QBO Simple Start Reports 20+ reports Income and expenses Accounts receivable Basic financial statements Customizable reports

79 QBO Essentials Reports 40+ reports Includes all reports in Simple Start Accounts payable Product / Services List Company snapshot Scorecard

80 QBO Plus Reports 65+ reports All QuickBooks Online reports Location and class reporting Inventory reports Time activities Budget vs Actual Collections report

82 #4 Troubleshooting

83 Topics Topics 1. Troubleshooting Client Errors 2. Accountant Tools

84 Learning Objectives Learning Objectives After attending this module, you will be able to: Identify common errors made in QuickBooks Online Identify processes to avoid impacting prior accounting periods Recognize features to troubleshoot common Banking Center problems Identify the Accountant Tools used troubleshoot errors Recognize the Book-to-Tax functionality and its connection between QuickBooks Online & Intuit Tax Online

85 Topics Topic 1: Troubleshooting Client Errors Best Practices Common Errors & Fixes Book-to-Tax

86 Best Practices Best Practices Diagnose Investigate Repair

87 Best Practices Choosing a Solution Fix it Stop the bleeding Start over

88 Best Practices Prevent Recurring Errors Establish ongoing check-ups Implement 3 rd party solutions Document your work

89 My lists and reports are too long.

90 Merge duplicate records #QBConnect

91 Create hierarchy with sub-records; collapse/expand reports #QBConnect

92 Delete unused records (make inactive) #QBConnect

93 My Customer Center balances are not accurate.

94 Apply payments and credits to open invoices #QBConnect

95 Edit sub-customers to Bill with Parent to apply customer payments to sub-customer invoices #QBConnect

96 Correct payments posted to bank instead of undeposited funds #QBConnect

97 Apply deposits to payments so income not overstated #QBConnect

98 Write off bad debt #QBConnect

99 I can t import bank activity.

100 Disconnect / reconnect bank; unmatched activity will disappear.

101 Manually import transactions

102 Exclude duplicates

103 Undo mistakenly matched or excluded bank activity

104 Monitor the sync activity in your client s bank accounts

105 These open bills have already been paid.

106 Apply check to bill via drawer #QBConnect

107 I need to void an uncashed check from last year.

108 Enter deposit in open current period to off-set check

109 Reconcile voided check and deposit

110 What does this Opening Balance Equity mean?

111 Opening Balance Equity account should be zero

112 Do not enter balance when new bank account created

113 Do not enter balance when new customer / vendor created

114 Do not enter quantity & cost when new inventory product created

115 Was setup incomplete or does an entry need to be reclassified?

116 How do I monitor adjustments to closed periods?

117 Set closing date and warning #QBConnect

118 View changes to closed books in QBO Accountant #QBConnect

119 Accountant Reports > Exceptions to Closing Date

120 Topic 2: Accountant Tools Locate Bank Reconciliation discrepancies Utilize Accountant Tools Make Adjusting Journal Entries Connect QuickBooks Online to Intuit Tax Online

121 Reconciled opening balance does not match statement.

122 Reconciliation History > Previously reconciled trnx has changed

123 Other Accountant Tools Batch Reclassify Voided/Deleted Transactions Write Off Invoices

124 DEMO

125 Book to Tax Found on QBO Accountant client list & Accountant Tools Map QBO accounts to tax lines Make posting book adjustments to book balances Make non-posting tax adjustments to book balances Send QuickBooks Online tax balances to Intuit Tax Online

127 #5 Expanding QuickBooks

128 Topics 1. Payments 2. Payroll 3. Intuit App Center

129 Learning Objectives Learning Objectives After attending this module, you will be able to: Identify the functionality of QB Payments Recognize the features of Online Invoices Recognize the steps to use the Invoicing Portal Identify Intuit s payroll offerings that integrate with QBO Identify the steps to setup QBO Payroll Identify the various payroll reports in QBO Payroll Recognize the benefits of Intuit approved apps Identify the steps to find, purchase and access QBO apps

130 Topic 1: Payments Features Payments Online Invoicing Auto Payment GoPayment

131 QB Payments QB Payments Features Process credit cards on sales receipt and receive payment screens in QBO Securely store customer credit card info in QBO, PCI-compliant Use free card reader with QBO mobile app to swipe customer cards. Payment recorded automatically in QBO. Powers the Pay Now button on Online Invoices so that customers can pay invoices via credit card or bank debit

132 QB Payments Features Funds move directly from Customer to Merchant, no impounding Typically a two-day window: customer submits payment, merchant s bank receives funds The only payment service integrated with QBO Auto-reconciliation feature groups payments, records deposit and merchant service fees in QBO

133 Company Settings > Payments QB Payments

134 Create new QB Payments account QB Payments

135 Select plan, provide business & personal info, submit QB Payments

136 Application approved, service available in 24 hours QB Payments

137 Connect existing QB Payments account QB Payments

138 Login to existing merchant account to link QB Payments

139 Confirm & use immediately QB Payments

140 Verify account connected on new & existing accounts QB Payments

141 Get paid faster with Online invoices QB Payments

142 Company Settings > Sales QB Payments

143 Set options for invoices to online invoice, no pdf QB Payments

144 Select online payment options, invoice QB Payments

145 Customer clicks button in QB Payments

146 Customer opens invoice in browser, no password required QB Payments

147 Customer can print or save PDF QB Payments

148 Invoice total amount linked to current balance in QBO QB Payments

149 Interactive messaging archived in QBO on invoice transaction QB Payments

150 Button inactive when QB Payments not turned on QB Payments

151 Button active when QB Payments turned on QB Payments

152 Customer enters amount (less than or equal to) and payment info QB Payments

153 receipt sent to payer QB Payments

154 Status & balance updated on Online Invoice QB Payments

155 Payment recorded in QBO automatically. No sync required. QB Payments

156 Setup recurring sales receipts and collect cc pmts automatically QB Payments

157 Go Payments Features Stand alone payment service for mobile devices Swipe credit cards outside of QBO Payments are downloaded into QBO, not recorded automatically Downloads not matched are saved and available to continue working on later

158 Payroll Topic 2: Payroll QuickBooks Online Payroll - QBOP Intuit Online Payroll for Accountants - IOP4A Intuit Full Service Payroll - IFSP

159 Three Intuit online payroll options Online Payroll

160 Inside QuickBooks Online s Employee Center Online Payroll

161 Central access to multiple payroll clients Online Payroll

162 Intuit remits tax payments and form filings for you Online Payroll

163 Get started with QuickBooks Online Payroll setup wizard Online Payroll

164 Home page activity feed reminds you to set up electronic services Online Payroll

165 Add employees Online Payroll

166 Manage payroll settings Online Payroll

167 Add pay schedule, vacation policies, deductions & contributions Online Payroll

168 Manage employer ID #s, unemployment rate, electronic services Online Payroll

169 Update GL accounts and classes for paychecks and taxes Online Payroll

170 Run payroll in 3 easy steps Online Payroll

171 Select pay schedule Online Payroll

172 Confirm bank account and dates Online Payroll

173 Salary calculated & timesheet hours summed Online Payroll

174 Review & submit. Paychecks posted to GL. Online Payroll

175 Reports > All Reports > Manage Payroll group Online Payroll

176 Paycheck subtotals for each employee Online Payroll

177 Payroll taxes paid and owed Online Payroll

178 Mobile app: pay employees, pay taxes, file forms Online Payroll

179 Topic 3: Intuit App Center Benefits of Apps Adding apps

180 Benefits of apps Enter data once Apps pull data from and push data to QBO Example: Transaction Pro Importer imports transactions into QBO Ability to shared data improves efficiency, reduces errors, and allows for more control of permissions / access Automate business processes Extend the functionality of QBO with electronic bill pay, inventory, CRM

181 Learn about apps and read reviews

182 DEMO

184 QuickBooks Online Certification Exam

185 QBO Certification 5 Sections 95 Questions total 4 Attempts to pass (each section) 80% to pass each section Exam takes approximately 2 hours BONUS OFFER! Complete your QBO Certification on-site today to earn your choice of: $30 Amazon Gift Card Certified QuickBooks Online ProAdvisor Shirt

186 Finding the exam QBO Certification Scenario 1 Enrolled in the ProAdvisor Program today: You have immediate access to the new product experience. Log into QuickBooks Online Accountant Click on the ProAdvisor Tab in the left navigation bar See the Certification tab Select QuickBooks Online to see supplemental training guid es, self-paced modules or Take Exam Scenario 2 Already enrolled in the ProAdvisor Program: Log into the ProAdvisor member website at: tants.intuit.com/pro-advisor-index.jsp Click on the Certification tab Click on QuickBooks Online to view the Supplemental Trai ning Guides, Self-paced modules & Take Exam