Mastering Journal Entries in QuickBooks Online
In this episode, Hector and Alicia delve into using journal entries in QuickBooks Online, outlining when they're appropriate and when to avoid them. They offer insights into accounting workflows such as depreciation, tax adjustments, job costing, and class allocations. They also highlight advanced techniques like the adjusting entry checkbox and utilizing features like the reclassify transactions tool. The episode showcases the new journal entry import tool, explaining how to set up CSV files, map accounts, and overcome limitations, along with innovative uses like memo notes via zero-value entries. Whether you're an accountant, bookkeeper, or QuickBooks enthusiast, this episode enhances your understanding of journal entries and enhances efficiency in QuickBooks Online.
Send your Questions/Comments (we could read/answer them on air) ask@uqapodcast.com
Links/Apps Mentioned in this episode:
Sponsors
ClientHub- https://uqb.promo/clienthub
LiveFlow - https://uqb.promo/liveflow
Settle - https://uqb.promo/settle
ClientHub- https://uqb.promo/clienthub
LiveFlow - https://uqb.promo/liveflow
Settle - https://uqb.promo/settle
- (00:00) - Welcome to the Unofficial QuickBooks Accountants Podcast
- (01:53) - Introduction to Journal Entries in QuickBooks Online
- (09:33) - The Complexities of Adjusting AR and AP in QuickBooks
- (20:13) - Advanced Journal Entry Techniques for Job Costing and Class Allocation
- (28:49) - When to Avoid Using Journal Entries
- (29:33) - QuickBooks Online: Reclassify Transactions Feature
- (30:34) - The Power and Limitations of QuickBooks Online Accountant
- (35:36) - Navigating QuickBooks Online: Importing Journal Entries
- (45:04) - Advanced QuickBooks Online Features: Adjusting Journal Entries
- (49:35) - Upcoming Courses and Personal Updates
- (51:45) - Reflections and Closing Thoughts
Send your Questions/Comments (we could read/answer them on air) ask@uqapodcast.com
Links/Apps Mentioned in this episode:
- Hector's App - RightTool www.righttool.app
- Alicia's Training - RoyalWise http://royl.ws/uqapodcast
- QuickBooks Connect Conference www.quickbooksconnect.com
- Firm of the Future www.firmofthefuture.com
Creators and Guests
Host
Alicia Katz Pollock, MAT
Alicia Katz Pollock, MAT is the CEO at Royalwise Solutions, Inc.. As a Top 50 Women in Accounting, Top 10 ProAdvisor, and member of the Intuit Trainer/Writer Network, Alicia is a popular speaker at QuickBooks Connect and Scaling New Heights. She has a Master of Arts in Teaching, with several QuickBooks books on Amazon. Her Royalwise OWLS (On-Demand Web-based Learning Solutions) at learn.royalwise.com is a NASBA CPE-approved QBO and Apple training portal for accounting firms, bookkeepers, and business owners.
Host
Hector Garcia, CPA
Hector Garcia,CPA is the Principal Accountant Quick Bookkeeping & Accounting LLC, a globally-serving Technology-Accounting firm based in Miami, FL (USA), specializing in QuickBooks Consulting, but also providing traditional accounting services such as: Bookkeeping, Payroll Processing, Tax Return Preparation, and General Business Advisory. He has over 10 years of experience working with small business finance and accounting, along with 3 Post-graduate degrees from Florida International University (FIU) in Accounting, Finance and Taxation.