4 enter a descriptive name and select whether the

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4. Enter a descriptive name and select whether the rule is for a money-in or money-out transaction. 5. Rule names can have only letters, numbers, and spaces. 6. Select the bank account the rule applies to. 7. Set up the conditions QuickBooks should look for when downloading bank items:
QuickBooks Online Certification Guide 77 CHAPTER 6 – BANKING & COMPANY ACTIVITIES IN QUICKBOOKS ONLINE Banking is a critical day-to-day function of small business. QuickBooks makes data entry and account reconciliations easy with bank feeds. If your clients want to save time and reduce data entry task they can use the automated bank feeds in QuickBooks to feed transaction information directly into QuickBooks. OBJECTIVES After completing this chapter, you should be able to: Make a bank transfer Reconcile an account File Sales taxes BANK TRANSFER An important transaction in QuickBooks is recording bank transfers. You can record a transfer that your client does online or at the bank in QuickBooks. To create a transfer: 1. Click Create > Transfer 2. Complete the Transfer Funds From and Transfer Funds To fields to include the accounts you are transferring between. 3. Enter the Amount and Date . 4. Click Save and Close .
QuickBooks Online Certification Guide 78 BANK RECONCILIATION The purpose of your bank reconciliation is to: 1. Match individual transactions from QBO to your transactions on your bank statement 2. Match your ending balance from your bank statement to the cleared balance in QuickBooks Online. To reconcile your bank account: 1. Click Gear Icon/Company Menu, and then click Reconcile. 2. Choose the Account under the Which account do you want to reconcile? 3. Complete the Enter the following from your statement section including the Ending balance and Ending date. 4. Complete the Enter the service charge or interest earned, if necessary section. NOTE: this is optional. You can enter these transactions using another type of transactions like expense or journal entry. 5. Click Start reconciling .
QuickBooks Online Certification Guide 79 6. Select the transactions that have cleared the bank account on the bank statement. Reconciliation Tips Click the down arrow in the summary section to expand the window. This lets you view the details of the reconciliation as you reconcile. This section of the window displays the Balances , Payments, and Deposits . Filter the reconciliation window by clicking the one of the 3 options of Payments , Deposits , or All . QuickBooks default view is All. Sort the list of transactions by clicking the column heading. 7. After you’ve completed marking the cleared transactions from your bank statement, click Finish Now or click the down arrow to Save for Later or Close without Saving . NOTE: As part of the QuickBooks Online Accountant edition you can undo the reconciliation for your client. Your client does not have access to this feature in their version of QBO .
QuickBooks Online Certification Guide 80 FILING SALES TAXES

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