Welcome to QuickBooks Online Certification Training Presented by: Bryce Forney, CPA Certified QuickBooks Online Advanced ProAdvisor MB Raimondi, CPA.CITP Certified QuickBooks Online ProAdvisor
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
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 www.mbraimondicpa.com
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: http:/bit.ly/papsignup (all lower case) OR https://quickbooks.intuit.com/start/proadvisor_signup 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.
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 e-mailed directly to you within 3 weeks to the same email address used to register for the training. You must keep a copy for your records.
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
Additional Resources Intuit Academy Webinars intuitacademy.com QBO Blog qboblog.com Intuit Accountant Blog blog.accountants.intuit.com Quickopedia: intuitaccountants.com/quickopedia
Admin Details 10 Min Breaks: ~ every 70-90 minutes Lunch: 12:00 1:00pm Questions: Related to the content covered in this training Test Drive: http://qbo.intuit.com/redir/testdrive
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
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
Training Modules 1. Getting Started 2. Recording Transactions 3. Reporting 4. Troubleshooting 5. Expanding Usability
#1 Getting Started
Topics Topics 1. Product Overview 2. QuickBooks Accountant 3. Setting Up Your Client s QuickBooks Online
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
Topic 1: Product Overview Benefits of Using QuickBooks Online vs Desktop QBO Simple Start QBO Essentials QBO Plus http://quickbooks.intuit.com/online/compare
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
Benefits of QuickBooks Online Banking transactions automatically downloaded Reports sent automatically via email Scheduled transactions created and sent automatically Tracks more information in Audit Log No need to upgrade; updates applied for you
Benefits of QuickBooks Online Access from both PC, Mac, Chrome books, mobile app Class & Location tracking (Plus) Attachments emailed with invoice Online invoices with messaging Multiple AR & AP lines on journal entries
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
QBO Essentials 3 users + 2 accountant users Automated invoicing Accounts payable Enter delayed charges to be invoiced later Company scorecard
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
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
Sign up for QBOA http://bit.ly/qboasignup (all lower case) ProAdvisor portal http://proadvisor.intuit.com Intuit site http://accountants.intuit.co m/accounting/quickbooks/o nline-accountant
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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
Setup wizard for new QBO subscriptions Setup Wizard
Enter company name, address & logo Setup Wizard
Set up QuickBooks Setup Wizard
If no QB desktop data to import Setup Wizard
the setup wizard customizes QBO for you Setup Wizard
If client has QB desktop data to import Setup Wizard
Import QuickBooks desktop data Setup Wizard
Select QBD version for import instructions
Start in QuickBooks Desktop; press F2
Targets = transaction distribution lines
Maximum 350K targets
File > Utilities > Verify Data
Backup & Rebuild Data, if needed
Company > Export Company File to QuickBooks Online
Follow instructions on export wizard
Email confirmation
Compare BS & PL, accrual-basis, all dates
Importing Lists?
Import lists & bank activity
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Connect bank & credit card accounts
Select bank and log in
Associate bank account to QBO account
Specify activity to download THANK YOU FOR ATTENDING
Module #1 - Questions
#2 Recording Transactions
Topics Topics 1. Navigating QuickBooks Online 2. Accountant Tools 3. Sales & Revenue 4. Expenses & Purchases 5. Additional Transactions
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
Topics Topic 1: Navigating QBO Best Practices Client Home Customer Center Vendor Center Common Workflows
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Topics Topic 2: Accountant Tools Accounting Settings Accountant Toolbar Accountant Tools
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Topics Topic 3: Sales & Revenue Sales Settings Customer Center Sales Transactions Recurring Transactions
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Topics Topic 4: Expenses & Purchases Expenses Settings Vendor Center Expense Transactions Banking Center
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Topics Topic 5: Additional Transactions Time Tracking Bank Deposits Transfers Journal Entries
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Module #2 - Questions
#3 Reporting
Topics Topics 1. Reports Center 2. Customizing Reports 3. Benefits of Reporting 4. Reporting by Subscription Level
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
Cash basis = date paid Reporting
Accrual basis = date incurred Reporting
Report Center Reporting
Report tabs Reporting
Reporting
Accountant Reports
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Topics Benefits of Reporting Quickly locate information Customize in minutes Get the bigger picture
QBO Simple Start Reports 20+ reports Income and expenses Accounts receivable Basic financial statements Customizable reports
QBO Essentials Reports 40+ reports Includes all reports in Simple Start Accounts payable Product / Services List Company snapshot Scorecard
QBO Plus Reports 65+ reports All QuickBooks Online reports Location and class reporting Inventory reports Time activities Budget vs Actual Collections report
Module #3 - Questions
#4 Troubleshooting
Topics Topics 1. Troubleshooting Client Errors 2. Accountant Tools
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
Topics Topic 1: Troubleshooting Client Errors Best Practices Common Errors & Fixes Book-to-Tax
Best Practices Best Practices Diagnose Investigate Repair
Best Practices Choosing a Solution Fix it Stop the bleeding Start over
Best Practices Prevent Recurring Errors Establish ongoing check-ups Implement 3 rd party solutions Document your work
My lists and reports are too long.
Merge duplicate records #QBConnect
Create hierarchy with sub-records; collapse/expand reports #QBConnect
Delete unused records (make inactive) #QBConnect
My Customer Center balances are not accurate.
Apply payments and credits to open invoices #QBConnect
Edit sub-customers to Bill with Parent to apply customer payments to sub-customer invoices #QBConnect
Correct payments posted to bank instead of undeposited funds #QBConnect
Apply deposits to payments so income not overstated #QBConnect
Write off bad debt #QBConnect
I can t import bank activity.
Disconnect / reconnect bank; unmatched activity will disappear.
Manually import transactions
Exclude duplicates
Undo mistakenly matched or excluded bank activity
Monitor the sync activity in your client s bank accounts
These open bills have already been paid.
Apply check to bill via drawer #QBConnect
I need to void an uncashed check from last year.
Enter deposit in open current period to off-set check
Reconcile voided check and deposit
What does this Opening Balance Equity mean?
Opening Balance Equity account should be zero
Do not enter balance when new bank account created
Do not enter balance when new customer / vendor created
Do not enter quantity & cost when new inventory product created
Was setup incomplete or does an entry need to be reclassified?
How do I monitor adjustments to closed periods?
Set closing date and warning #QBConnect
View changes to closed books in QBO Accountant #QBConnect
Accountant Reports > Exceptions to Closing Date
Topic 2: Accountant Tools Locate Bank Reconciliation discrepancies Utilize Accountant Tools Make Adjusting Journal Entries Connect QuickBooks Online to Intuit Tax Online
Reconciled opening balance does not match statement.
Reconciliation History > Previously reconciled trnx has changed
Other Accountant Tools Batch Reclassify Voided/Deleted Transactions Write Off Invoices
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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
Module #4 - Questions
#5 Expanding QuickBooks
Topics 1. Payments 2. Payroll 3. Intuit App Center
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
Topic 1: Payments Features Payments Online Invoicing Auto Payment GoPayment
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
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
Company Settings > Payments QB Payments
Create new QB Payments account QB Payments
Select plan, provide business & personal info, submit QB Payments
Application approved, service available in 24 hours QB Payments
Connect existing QB Payments account QB Payments
Login to existing merchant account to link QB Payments
Confirm & use immediately QB Payments
Verify account connected on new & existing accounts QB Payments
Get paid faster with Online invoices QB Payments
Company Settings > Sales QB Payments
Set email options for invoices to online invoice, no pdf QB Payments
Select online payment options, email invoice QB Payments
Customer clicks button in email QB Payments
Customer opens invoice in browser, no password required QB Payments
Customer can print or save PDF QB Payments
Invoice total amount linked to current balance in QBO QB Payments
Interactive messaging archived in QBO on invoice transaction QB Payments
Button inactive when QB Payments not turned on QB Payments
Button active when QB Payments turned on QB Payments
Customer enters amount (less than or equal to) and payment info QB Payments
Email receipt sent to payer QB Payments
Status & balance updated on Online Invoice QB Payments
Payment recorded in QBO automatically. No sync required. QB Payments
Setup recurring sales receipts and collect cc pmts automatically QB Payments
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
Payroll Topic 2: Payroll QuickBooks Online Payroll - QBOP Intuit Online Payroll for Accountants - IOP4A Intuit Full Service Payroll - IFSP
Three Intuit online payroll options Online Payroll
Inside QuickBooks Online s Employee Center Online Payroll
Central access to multiple payroll clients Online Payroll
Intuit remits tax payments and form filings for you Online Payroll
Get started with QuickBooks Online Payroll setup wizard Online Payroll
Home page activity feed reminds you to set up electronic services Online Payroll
Add employees Online Payroll
Manage payroll settings Online Payroll
Add pay schedule, vacation policies, deductions & contributions Online Payroll
Manage employer ID #s, unemployment rate, electronic services Online Payroll
Update GL accounts and classes for paychecks and taxes Online Payroll
Run payroll in 3 easy steps Online Payroll
Select pay schedule Online Payroll
Confirm bank account and dates Online Payroll
Salary calculated & timesheet hours summed Online Payroll
Review & submit. Paychecks posted to GL. Online Payroll
Reports > All Reports > Manage Payroll group Online Payroll
Paycheck subtotals for each employee Online Payroll
Payroll taxes paid and owed Online Payroll
Mobile app: pay employees, pay taxes, file forms Online Payroll
Topic 3: Intuit App Center Benefits of Apps Adding apps
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
Learn about apps and read reviews
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Module #5 - Questions
QuickBooks Online Certification Exam
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
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: https://accoun 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