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Basic Quickbooks Online
Basic Quickbooks Online
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Carrie Poppelaars
CEO of Local Ledgers LLC & Community Manager

Is Simple Start qbo sufficient for my new business?

Key thing to note is that the  Self Employed version of qbo is a very different program than the other qbo versions.  

Issues:
 

  • It is not a whole bookkeeping system.  It allows you to record transactions and run a profit and loss report but it does not allow you to run a balance sheet
  • It does not allow you to reconcile your bank or credit card accounts-this is huge because if these accounts are not reconciled how do you know that you don't have duplicate or missing transactions? Duplicate and missing transactions are very common for business owners doing their own bookkeeping
  • You are not able to upgrade your Self Employed subscription to another qbo program.  You need to upload transactions or start over.  

Self Employed qbo does have it's purpose but if you plan to grow your business, I would skip this version and start with the Simple Start version.

Carrie Poppelaars
CEO of Local Ledgers LLC & Community Manager

Tuesday QBO quick tips

 

Tuesday qbo quick tip

It may seem super simple and unnecessary but

when you are running reports or entering

transactions, having a quick way to 

reset the date can add time to your day. Who doesn’t 

need more time??

Print these out and tape them where you can see them and use them.

Try it for even a week:

Put cursor  in the date box and try these shortcuts:

  • t: today
  • + (plus key): tomorrow
  • - (minus key): yesterday
  • w: first day of the week
  • k: last day of the week
  • m: first day of the month
  • h: last day of the year

 

Carrie Poppelaars
CEO of Local Ledgers LLC & Community Manager
Basic Basic qbo tip:
When you connect your bank to qbo so that the transactions feed in automatically, they still need to be "added" or "accepted" into that bank or credit card account. They feed into the "dashboard" but they are waiting for you to put them in the correct account.

I am working on a clean up project for a new client and she said "I don't know why my checking account won't reconcile". She had 644 transactions that needed to be reviewed and added. 😳