93%(14)13 out of 14 people found this document helpful
This preview shows page 99 - 106 out of 137 pages.
The company information section at the top of the window is important. This contains the company contact information. This information will be completed with the information that you entered when you first setup the company file. If the company contact information changes this is the location where you will update the information. The contact information is entered in the CompanySettings. Enter the Business numberin the appropriate field. Update, add or remove information in the Contact info. section.
QuickBooks Online Certification Guide 100 Accounting Information You can update the Accounting information under the Advancedsection. 1.Click Advanced. 2.Click Accounting. 3.To save any changes, click Save. Set the fiscal year for your client, Closing Date, and other information in this section. Note: Clients sometimes make mistakes that you want to avoid.QuickBooks Online has a feature called, Close the Booksto help your clients avoid making these entries.
QuickBooks Online Certification Guide 101 Close the Books 1.Select the Close the books option. 2.Enter the Closing date in the Closing date field. Enter a closing date. In addition to setting a closing date, QuickBooks Online lets you select one of two warning options. a.First, you can choose, Allow changes after viewing a warning. This option will warn users that they are about to save a transaction that is dated prior to the closing date. If they choose, they can continue and save the transaction. b.Second, you can choose Allow changes after viewing a warning and entering password. This option warns the user that they are about to save a transaction dated prior to the closing date as well as requires the user to enter a password. This is the best practice to ensure that users do not save entries in previous accounting periods. 3.Enter the password again in the Confirm passwordfield. Now you know that Big Time Fitness cannot make errors in previous periods. 4.Click Save.
QuickBooks Online Certification Guide 102 Date, Time & Warning Settings QuickBooks Online lets you edit the date and time setting within the software. 1.Click Advanced. 2.Click Editnext to the Other preferencessettings. 3.Click Date Format. 4.Edit the Date Formatfor your client needs. 5.Click Save.6.Select7.Click Doneto close the Company Settings window.
QuickBooks Online Certification Guide 103 Basic Sales Tax Setup Before your clients record any sales or expenses, it’s important to make sure that sales tax is setup. QuickBooks knows the location of your client’s business based on their company information entered during the setup. To complete the setup, you must enable the sales tax option. To turn on sales tax: 1.ClickTaxes. 2.Click Set up sales tax. 3.Choose your Province or Territory.
QuickBooks Online Certification Guide 104 4.Add the appropriate tax information for your client’s business. 5.Click Next.QuickBooks confirms the setup of sales tax.
QuickBooks Online Certification Guide 105 Chart of Accounts The chart of accounts is a critical part of QuickBooks Online. Click the Gear icon to view the Chart of Accounts. Who sets up the client file will determine what type of chart of accounts your clients have. The two different scenarios are the following: