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QuickBooks Online is a full-service accounting software that you can use to make your business easier and more efficient. Here are some keyboard shortcuts that will help you get the most out of QuickBooks Online:
QuickBooks is a popular accounting software that is used by many small businesses. This article will give you some tips and tricks to help your business succeed.
One of the most complete accounting software systems on the market is QuickBooks Online. It’s well-liked for its simplicity and strong accounting capabilities, including bank connectivity and sophisticated reporting.
By avoiding repeated procedures and limiting scrolling for the data you need, these tips and methods may help you save time. Learn how to work more efficiently by using keyboard shortcuts, automating certain tasks, presenting data in a variety of ways, and making your files more accessible.
1. Use many browser windows
The option to open numerous windows in QuickBooks Online saves time by allowing you to go back and forth between displays. It’s also a quick and simple method to compare several reports or QuickBooks features. By clicking Refresh on your browser, you may need to refresh the window for changes to show.
By duplicating the tab you’re working on and following these two procedures, you may launch additional browser windows inside the same corporate file:
- Select your browser tab by right-clicking it.
- The duplicate should be selected.
If you’re using Internet Explorer, you may also duplicate your tab by using Ctrl + K. Now that you’ve signed in to your account with two tabs, you may take one out of the window to work on two distinct screens at the same time.
In QuickBooks Online, you may open numerous browser windows.
This easy way of opening several tabs can only be used if each tab displays the same firm. You have two alternatives for browsing various firms at the same time: incognito mode or utilizing multiple browsers.
Browsing incognito/privately
You may utilize incognito mode, commonly known as private browsing, for one of the windows to open distinct windows for various firms. Depending on whatever browser you’re using, there are a few different methods to do this.
- Ctrl + Shift + N in Google Chrome
- Firefox, Internet Explorer, and Microsoft Edge are the three most popular browsers. Ctrl + Shift + P is a combination of the keys Ctrl and Shift.
- Command + Shift + N for Safari
Chrome browser with incognito mode.
After you’ve opened an incognito window, go back to QuickBooks and choose the firm you want to see. This will have no effect on any other tabs that are open while QuickBooks is running. If you don’t use an incognito browser, going to QuickBooks Online will immediately open whatever business is currently open in that browser.
Various Browsers
You can also use two Various Browsers to view multiple companies in separate windows. For example, try logging into QuickBooks Online through Chrome and open your company file. Then, log in to QuickBooks Online through Microsoft Edge and open your second company file. QuickBooks should work independently for each company.
2. Make a link between your bank and credit card accounts.
One of QuickBooks Online’s most useful and time-saving services is Online Banking, often known as Bank Feeds. QuickBooks automatically uploads and categorizes bank and credit card transactions when you link an account. It enters the information so you don’t have to manually input transactions; all you have to do now is approve the job. You may link as many accounts as you want.
Creating a Connection (Source: QuickBooks Online)
To link bank transactions and credit card accounts in QuickBooks Online, go to the Banking tab, pick Connect Account, add your account, and follow the onscreen instructions to join your accounts. To link your bank account online, follow our free lesson on feeds.
3. Useful Keyboard Shortcuts
When entering data into QuickBooks Online, keyboard shortcuts may save you time and enable you to keep your hands on the keyboard. When working in a transaction window, use these keyboard shortcuts. Option may be substituted for Alt in the following table for Mac users.
4. Create items for each product or service you provide.
In QuickBooks Online, you may add a product (Source: QuickBooks Online)
Products and services are the two most fundamental sales items in QuickBooks Online. Both reflect a product or service that you provide to consumers. We suggest that you create items for each product or service you provide so that sending invoices and registering purchases is a breeze. This will also provide you with additional information in reports, enabling you to monitor financial information per product or service.
Follow our free lesson to create a new product or service item in QuickBooks Online. There are four sorts of items to pick from when generating an item: non-inventory, service, bundle, and inventory. Only QuickBooks Online Plus and Advanced provide bundles and inventory monitoring. Bundle enables you to bundle and sell several goods as a single product or service, while Inventory helps you to keep track of the precise quantities and pricing of the products you have on hand.
5. When making a deposit, use the Undeposited Funds Account.
Taking Advantage of the Undeposited Funds Account (Source: QuickBooks Online)
The Undeposited Funds account in QuickBooks maintains track of payments until you physically deposit them at your bank. Often, banks will aggregate all of your deposits into a single transaction. You may do the same in QuickBooks after you have your deposit slip and know which payments your bank merged. This simplifies the process of reconciling your bank accounts.
Think of the Undeposited Funds account as a virtual “lockbox” where you may keep your payments until you’re ready to deposit them.
6. Reconcile your bank account on a monthly basis.
In QuickBooks Online, you may reconcile your accounts (Source: QuickBooks Online)
You should reconcile your bank accounts periodically, preferably when you get an alert that your bank statement is ready, to maintain accurate financial data. You may verify that your financial reports and tax records are correct by reconciling your bank accounts.
Because you’re comparing transactions recorded in QuickBooks Online to transactions reflected on bank statements, errors like duplicate entries miscategorized transactions, and inaccurate amounts may frequently be detected while reconciling bank statements. If you link your online bank accounts to QuickBooks Online and do frequent maintenance throughout the month, the procedure may be completed fast.
7. Keep note of your classes and locations.
Different components of your company, such as departments or product lines, are represented by classes. Classes may help you have a better understanding of your business’s sales, costs, and profitability. You may assign classes to transactions when you enable the capability. Here’s how to monitor your class and location:
1. Select Account and Settings from the Settings menu on your Dashboard.
Dashboard for QuickBooks Online.
2. To update the Categories section, click Advanced, then Categories.
3. Select the Track courses option.
4. Select Warn me if a transaction doesn’t have a class. This is optional, but it’s a good idea to enable it so that you know everything has been categorized when you look at reports.
5. Select One to whole transaction or One to each row in the transaction under Assign classes, whichever you wish.
6. Examine the track’s places.
7. Choose Save and then Done.
This adds class and location fields or columns to your forms, allowing you to designate a class and location for each transaction. You may print several reports for each class or location once you’ve assigned transactions.
8. Make use of attachments
Attachments may be uploaded and saved to every transaction in QuickBooks Online. This simplifies and expedites the process of referencing source materials. To add an attachment, follow these steps:
- Create a new invoice or transaction.
- In the lower-left corner, click the Attachments symbol.
- Look for the file attachment.
- Save the file.
Attaching files to an invoice.
When examining a transaction in QuickBooks Online, you may see the source document. This is useful for receipts, bank statements, and transaction copies, among other things.
9. Set up recurring transactions
You may automate the process by setting up regular transactions instead of manually inputting individual transactions that occur often. Bills, rent payments, or revenue, as well as purchase orders from suppliers, are examples. Setting up regular transactions saves you time while also serving as a reminder of upcoming transactions.
In QuickBooks Online, create a recurring transaction.
QuickBooks Online Essentials or Plus support recurring transactions, which you may set up using the procedures below:
- At the upper right of the screen, choose the Gear symbol.
- Select Recurring Transactions from the Lists menu.
- To begin, choose New.
- Choose the kind of transaction you want to make and click OK.
- Give your template a name.
- Select from the following options: planned, unscheduled, or reminder.
- Fill up the required information.
- Save the template to your computer.
Recurring invoices may also be set up by choosing Make Recurring at the bottom of the invoice window.
In QuickBooks Online, create a recurring invoice.
1. Click Create Invoice next to a customer’s name to create an invoice for them. The invoice window will appear on the screen.
2. Fill out the Invoice form completely. There are a few crucial items to remember while filling out the form. The following are some of them:
- Select a customer.
- If appropriate, choose the invoice date and due date.
- Select a product or service. Fill in the Quantity and Rate fields.
- Select a Sales Tax rate.
3. Click Make recurring. You can also select the options to send emails automatically and print the invoice later.
4. Click Save the template to your computer. This will not only create the invoice but also send it automatically on the assigned date.
10. Create a list of your favorite reports.
Favorite QuickBooks Online reports.
Click the Reports menu option on the left navigation bar to see the available reports. You’ll see that the Reports page is separated into three tabs: Standard, Custom, and Management Reports. The Favorites page is located at the top of the Standard page. By clicking the star button next to any report, you can add it to this list.
Conclusion
While QuickBooks Online is the Best Overall Small Business Accounting Software, there are a number of time-saving tips and techniques to help you get the most out of your experience.
Some options, such as generating a goods and services list and setting up regular transactions, automate transactions, resulting in one fewer step. Others, such as employing keyboard shortcuts, let you keep your hands on the keyboard while entering transactions.
Connecting your bank and credit card accounts, as well as utilizing QuickBooks Online’s undeposited money tool, can let you reconcile your accounts on a monthly basis, which is advised.
Frequently Asked Questions
Does QuickBooks Online have keyboard shortcuts?
Yes, QuickBooks Online has keyboard shortcuts. You can take a look at them by clicking on the help icon in the top right corner of your browser window and navigating to Support > Keyboard Shortcuts.
How do I get the most out of QuickBooks Online?
It is important to take advantage of the many resources QuickBooks Online has available. These include a library of articles, videos, and templates for tasks like budgeting and managing inventory.
Which four options are shortcut keys in QuickBooks Online?
A: These are shortcut keys used in QuickBooks Online.
Ctrl+N – Find the next record
Ctrl+E – Enters data into the selected cell of a table or column
Alt+F8- Displays keyboard shortcuts
