Statement of cash flow The statement of cash flows shows the flow of cash within the business, including where it came from and how it was spent during a specific time period. Cash flows is categorized into 3 types of activities 1 operating activities:- shown how much cash was generate […]
Continue readingCREATE INVOICE FROM LINKED BILLABLE EXPENSE
Invoice create by billable expense To add an invoice create billablé expanse, open the dashboard and click the plus icon, and select send invoice in the money in option. And will add Billablé customer name, email, interface, and right side Billablé customer name shows in it, we can add it […]
Continue readingADD CUSTOMER AND VENDOR. ENTER AR- AP BEGINNING BALANCE SHEET
Set up customer &beginning balance Quickbooks will open an online dashboard. Then click on the option of the cell. We will open the customer inside it. And whoever is the customer will add them with the signaling balance. Scroll to the bottom and open the import process. And if the […]
Continue readingmonth-1 RECEIVE PAYMENT FORMS
Receive payment We will open the Quickbooks online account, then go to the report section of the dashboard and open the balance sheet and duplicate it by right-clicking the mouse. Then will open the trail balance and P&L account. After checking the transaction, I will come back to the dashboard […]
Continue readingMONTH 1 SALES RECEIPT &DEPOSIT
Sales receipt part-1 We will open the dashboard and go to the balance sheet in the report and open the date and look at the sales to see what stage are the sales in the report and then we will also open the profit and loss account and trail balance […]
Continue readingMONTH 1 RECEIVED INVENTORY AND LINK EXPENSE FROM TO
Inventory payment link to p.o Open the Quickbooks online, click on the plus icon in the country board. Go to the Money option and click on Add Expense. So its interface will open and from that, we have to select the inventory. Then a column will come in it, it […]
Continue readingMONTH-1 PURCHASE ORDER AND INVOICE:
Purchase order Open the QUICKBOOKS, click on the tool plus icon in the dashboard and open the send purchase order in the money out, then its interface will open in that we will email the vendor name and also fill all the columns. And there are also important order dates […]
Continue readingADD ACCOUNT & BEGINNING BALANCE,CHECKING,CREDIT CARD,NOTES PAYABLE,EQUIP.
Add Bank Account First We will open the dashboard of QuickBooks Online and click on the Chart of Accounts option in Accounting to add a new bank account, then it will show us physical type accounts such as current assets, current liabilities, inventories. We will click on the new button […]
Continue readingPROFIT AND LOSS OR INCOME STATEMENT REPORT
Profit & loss Click the option of Report in the Dashboard of Quickbooks Online and go to the standard report, after that we will open Profit and Loss by clicking and the date for which the balance sheet is to be checked. In this, we can also check the entire […]
Continue readingBALANCE SHEET REPORT
Balance Sheet format report option In the 1st dashboard, you will click on the report option and open the date in the balance sheets. After that, we will click on the upper-cost option, we will fill all the options in it and we can also change the header and footer […]
Continue readingENTRY FOR THE SECOND MONTH OF OPERATION
Short term investment deposit In this, we will open the dashboard and go to the balance sheet and look at the short term investment in it, how my short term investment happened, we will then click the plus icon provided in it, and in that area, I will open the […]
Continue readingENTER DATA FOR THE FIRST MONTH OF OPERATION
Journal report and financial statement 1st we want to check the month for which we want to check the report, click on the report option and go to date and run and report the run, after that we will check the total liabilities and then check the total assets both […]
Continue readingENTER DATA FOR THE FIRST MONTH OF OPERATION
Job or sub-customer sales receipt Now we are going to the dashboard and go to the sales item .now we click into the plus icon and choose the customer on the left-hand side and within the customer section, we are looking for the sales receipt. we are going to select […]
Continue readingENTER DATA FOR THE FIRST MONTH OF OPERATION
Record short term investment We are going to go to that checking account down here or the accounting down here on the left-hand side. we could select a short term investment account. if we had it. but if dealing with cash that’s usually the first thing that’s easiest for most […]
Continue readingENTER DATA FOR THE FIRST MONTH OF OPERATION
Record owner &loan deposit Now we are going to the dashboard and select much be accounts and that will give us the chart of account so if we select the top item here which will be the chart of accounts. Then we going to each account and this is where. […]
Continue readingSTART A NEW COMPANY FILE
Start a new company file overview This is where we are going to start a new company.it will be a bit longer of a section that many of the ones we have seen in the past. we will include the setup of a new company that will go onto its […]
Continue readingADJUSTING ENTRIES AND REVERSING
JOURNAL REPORT AND FINANCIAL STATEMENT Go to the first click to report and see what we have for the balance sheet.now the balance sheet is as of a point in time I am going to put the month of February which is 01/02/20 to 28/20/20 and run the report. we […]
Continue readingADJUSTING ENTRIES AND REVERSING
SHORT TERM LOAN A short term loan is a loan that we pay in 12 months, it is called a short term loan, we can do it in Quickbooks online, we can see our loan debt wise to see how much the loan is increasing or we can balance it. […]
Continue readingADJUSTING ENTRIES AND REVERSING
We will have to adjust entries for a loan payable just in entries related to accrued interest. we will have gesine entries related to an invoice and account receivable that needs to be adjusted to the current time period. We will have the account receivable reversing entry having to reverse […]
Continue readingBUDGETING
BUDGETING OVERVIEW We look at some reports in terms of the major reports for you in the budget including the basic budget as well as a comparative budget comparing the budget to the actual performance.once the time period that had been budget had passed. BUDGET PROFIT AND LOSS In this, […]
Continue reading