QuickBooks Online 2017 Tutorial: Mastering Bank Rules

[@deborahjacques2960]

I"m with Jennifer S - I had a meltdown too until I started to watch your videos.....thank you!

[@lauragoetz8009]

Nice job explaining, I like how fast you go. I don't get bored, am just soaking it up like a sponge

[@HectorGarciaCPA]

Laura Goetz great!

[@hassaneidsaied]

Good Job Hector, we learn from you more than what we learn from Intuit them self....

[@HectorGarciaCPA]

:)

[@heatherhaggard4051]

Thank you for your videos!!! So EXTREMELY helpful! Why does quickbooks automatically categorize deposited checks as "sales of product income"? Should I be changing that to "undeposited funds" or just my regularly used (on invoices) "SALES" account? Please help!!!!

[@logansan11]

Thanks, Hector; it was very helpful in switching from desktop QB to QBO.

[@HectorGarciaCPA]

steve suby great

[@KarolyneLucero]

Awesome video. Have a year's experience and learned so much for efficiency. How best to handle leftover line items in an account which were erroneously applied to that account months ago. If all my accounts are reconciled to-date should I just go thru them one by one and void them?

[@HectorGarciaCPA]

PART 3: kzbin.info/www/bejne/sHjUioB3Z7dqqqc

[@HectorGarciaCPA]

Good!

[@erosbackup1918]

Hey Hector, I am wondering what you would do in my place. I don't have any vendors called: shell, or 7-eleven, or chevron, etc. Instead "gas stations" to reduce the list of vendors that are not directly related to my operations, just a preference; for this example I will use these ACCOUNTS: "car/truck:gas", "car/truck:repairs", and "meals & entertainment". Now every time I spend less than $20 in a gas station, it's not gas but "M&E" (let's not get into details about what should and shouldn't be M&E), and when it's more than $50, it's not gas but "car and truck: repairs". I am trying to create a bank rule for: Every time I go to shell or 7-eleven, and I spend between $20 and $50, QBO autocategorizes it as payee: "gas stations", account: "car and truck:gas". Could you do a vid on how to create this. If you have a vid already pls share link. Thx

[@HectorGarciaCPA]

Eros Backup personal preference.. I create them all

[@celinekaufmannva1408]

@HECTOR HELP! at minute 13:58 of your video you show that you can split an expense in amount and have a remainder part. I have a case where I have a recurring loan that needs to be split, of which a fix amount of $1000 goes to a liability account and a variable part (remainder) goes to an interest account. I'm on Quickbooks Online but don't have the option to have a "Remainder" amount, I need to put a fix amount in each box. Is this something new? They removed the capability to have a variable part? Thanks for the help

[@jm-wt2jc]

Hi Hector. I am learning quite a lot from your videos. Thank you. I want to begin using the feature of importing my banking transactions, but when I did it over the weekend, something happened to my statement reconciliation ending balance which threw off all my statement reconciliations for 4 months! Yikes. What a nightmare getting it fixed. What did I do wrong when I imported my transactions? What do I need to look out for when downloading banking transactions? Thanks!

[@bbrainerd1]

Hector, your videos are very helpful. Thank you for making them available. I have taken on a client who was doing their own QB entries. They set up a bank loan as a bank checking account. SO on the Balance sheet it shows as an overdrawn currrent asset. When I try to change the account type it says there are entries that have to do with cash and those need to be changed before the account type can be changed. Any ideas?

[@MsSaroyan]

Clear, understandable and in good temp. Thank you Hector.

[@HectorGarciaCPA]

You welcome

[@renalarson1626]

Hi, Hector. This video is very helpful. One question, if u "add" a particular transaction, does that automatically get posted to the General Ledgers/trial balance?

[@HectorGarciaCPA]

Rena Larson yes.. added to the check register and affects the GL

[@andykim3257]

Thank you for your videos! I just started using QBO. How do I create a dividend account? Is there any video that explains it?

[@HectorGarciaCPA]

+Andy Kim what is a "divided" account?

[@andykim3257]

I meant dividends paid to the shareholders

[@Jenniferfvbb]

Do you have the rule to show us on how to enter a single check # that comes into banking?

[@HectorGarciaCPA]

Jennifer Aarstad Dunn that wouldn’t use a rule

[@marlenepisani9887]

Looks as though QBO has changed the way things work again, can no longer hide the left side short cuts and the "compact" item in the gear cog no longer condenses

[@HectorGarciaCPA]

no true... those two functions are still there... just looks different

[@marlenepisani9887]

Oh yes I found the way to hide sidebar, but compact doesn't work on banking module, does on products module

[@HectorGarciaCPA]

Try expanding the columns that have 2 lines of data (like Categories/Account) and then try the compact option

[@erosbackup1918]

I am not having issues imagining what buttons changed with an update. It's not that hard to find them in the newer versions

[@lemusenterprises5025]

Very helpful, Thank you!

[@mybestfriendsarediamonds1241]

I love your videos. I appreciate them so much thank you.

[@HectorGarciaCPA]

+Tara Ward :)

[@chastjw71]

How would be the best way to put in a loan? Such as a vehicle loan from a bank ?

[@HectorGarciaCPA]

good question.... because the payment is amortizing the loan (which means principal and interest is different on every payment) there is no way to automate it. I would just set it to reduce the liability-loan and then do a journal entry against it with Interest Expense at the end of the year

[@chastjw71]

+Hector Garcia (CPA) ok. Any plans on a video for that ? I've searched and can't find much on the qbo and loans subject. Might be lots of people interested.

[@HectorGarciaCPA]

+Jeremy Chastain not in the short term

[@erosbackup1918]

You are GOOD man! Thank youuuuu!!!

[@124irving]

very helpful video