QuickBooks 2018 Tutorial for Beginners - Top 4 Mistakes to Avoid

[@davidpuddy8023]

Very helpful and right to the point. Thank you.

[@QbuniversityOrg]

David Puddy you’re welcome!

[@robokat36]

I am very thankful , I've been using quickbooks a long time and in the first video I watched of yours, I learned I am doing something wrong. I will correct that and look forward to learning more from you. Thanks gain

[@QbuniversityOrg]

Kathy you’re welcome!

[@QbuniversityOrg]

I'm passionate about making sure you do these things right so you can grow your business!

[@jaywellington6504]

I can't find Customer Payment in QB since the 2019 format came out. Any updates?

[@williamaiken9262]

We are a non profit that receives donations. Is there a way to notate those donations? There aren't sales and they're the majority on our income.

[@QbuniversityOrg]

Create a Revenue account called Donations and put them there

[@melissavilla7547]

thank you

[@QbuniversityOrg]

Welcome!

[@upliftswimwear5794]

Really helpful thankyou for sharing what not to do!!

[@QbuniversityOrg]

Uplift Swimwear you’re welcome!

[@funkdoctor9663]

VERY useful. Thank you

[@QbuniversityOrg]

Funk Doctor you’re welcome!

[@doreenhelena3714]

Thank you for the tutorial. My question is ...I downloaded q books online. I am a retail shop I sell to individuals, not companies, and I work with a Yoco machine. Now I cannot enter each and every sale, as it is like I said individuals buying and using my Yoco machine. So when I enter sales from my bank statement it shows one amount for that day. What do u suggest I do, just mark it as a sale *(I have a separate spreadsheet for the items that I purchase) but no stock entries on Q Books

[@QbuniversityOrg]

I have a video on my channel about entering daily sales for retail. Look for this. You will have to enter those daily sales whether they sync from a POS or by hand

[@mjjapan7348]

Hi, I have a problem with Receive Inventory, when I save it it was show up on error words (you cannot use more than one A/R or A/P account in the same transaction). I don’t know how to resolve it. Can you help me. Thank you

[@QbuniversityOrg]

It sounds like you are using AR or AP twice which QB does not let you do. What steps are you following to receive inventory?

[@Desertphile]

Thank you. This is quite helpful. Do you know you are saying "Okay?" often?

[@QbuniversityOrg]

Desertphile “okay” thanks for pointing that out! 😁

[@AreliHernandez1234]

The Quickbooks University how do I deposit the funds in my account when I store a payment I always put undeposit funds but I want to transfer them to my checking account how do I do that?

[@KeefeL]

It makes it seem like he's talking to children. Weird quirk!

[@emilyyang7087]

Great summary of common mistakes! For mistake #4, people do not reconcile. I am curious if I import credit card statement directly from bank (a .QBO file), should I still do reconcile? Because theoretically it should match the bank statement naturally. What's the point to do reconcile? Thank you for answering the question.

[@QbuniversityOrg]

Yes in theory it should but doesn’t always. If you have small errors over time not caught in a recon it can add up to large errors

[@ciarahammond9445]

2nd mistake??? Entering bills is to assume you had posted them already before you pay them, correct? Why would you have to wait? If you enter all invoices say received in a week in a day and then go to pay the bills how does the reporting information come back with errors? if recorded and paid in the same day? Thanks!

[@QbuniversityOrg]

Cece hammond doing that wouldn’t create errors. I don’t think that’s what I inferred in this video?

[@anjanettemercer4147]

Thank you. wonderful video. So I don't have sales, we are a service industry (contractors) but I have issues with some accounts being negative and I am not sure how to fix that. also, is there a better way to do ATM payments other than just a general ledger line on the checking account? Do you have a video on Loan payments and interest how to set up (say a truck payment)? Please advise

[@QbuniversityOrg]

Search my YT channel here as I have a number of videos that address each of this questions. Thanks!

[@carriecooper961]

very helpful! Thanks!!

[@QbuniversityOrg]

Carrie Cooper you’re welcome!

[@gurugearuna]

thank you..

[@QbuniversityOrg]

Aruna Prasanna Guruge you’re welcome!

[@sylviaaa3887]

I asked a question about the received the payments under another video. So how do I fix the problem ? Received the payments was never done. Deposits are entered directly from bank statement.

[@QbuniversityOrg]

I apologize, I must have missed that question. This video should help kzbin.info/www/bejne/mXipkKWBoMyYsKs

[@donnaladan9991]

I am using the desktop version of Quickbooks. I do not use the online version. I reconcile my bank statements every month and ensure everything is balanced. My question; I sell products and get paid at point of sale. I enter in the sales receipt and press save. But the invoice does not go to 0, it looks like there is a balance left unlike when you pay using an invoice it goes to 0. Am I doing something wrong.

[@QbuniversityOrg]

So you enter a sales receipt, correct? What do you mean "the invoice does not go to zero?"

[@boneyfreak9197]

It's amazing how many companies hire a "Bookkeeper" that cannot even post properly. Currently cleaning up a mess for one that has $510,000 outstanding A/R, never billed going back 4+ years....and $1.11 million in "undeposited" funds. It's a lucrative business and the owner has been awash in $ and hasn't even requested, been offered or presented a single Report in all that time. Not even a P&L.

[@QbuniversityOrg]

Boneyfreak happens more than you could imagine my friend. That’s why it’s so crucial to understand the difference between a bookkeeper, an accountant, a controller and a CFO

[@caraengasser5755]

That is crazy! I am looking to get into bookkeeping but I am in no rush. I am studying up on it as much as I can before jumping in so I can avoid common mistakes. Do you still feel that bookkeepers are needed in today’s world? I know not all businesses need them but I am excited to begin this journey. 😊

[@theawesomelincolnbriso1669]

Hi Mat, thanks for all your videos, they are very helpful. I have been trying to figure out how to break-down into period the P&L instead of monthly reports, I currently work for a restaurant and they use 13 period a year. Do you have any suggestions? Thanks

[@QbuniversityOrg]

Arline Marti I’ll have to check. I want to say there isn’t a way to do that but for some reason I’m thinking in the set up that you can specify that your business is on a 52/53 week year. Even if you specify that I’m not exactly sure what it will do. I’ll take a look.

[@theawesomelincolnbriso1669]

Hi Mat , I was talking to another accountant that uses Quickbooks and it seems that I can create class and then sort the P&L report by class instead of monthly. I’ll try it and see how it goes. Thanks for your help and fast response

[@angelavanes6048]

Is there away to receipt invoices and allocate bill payment during the bank recon in QuickBooks without having to duplicate effort with going to receipts and bill pay separately to bank recon?

[@QbuniversityOrg]

Angela van Es no unfortunately you would have to go back to the source transaction to change it

[@robolson9924]

How do you record payments made electronically? I have accounts that are on auto-pay. I'm also trying to get away from check writing and pay bills online instead. I believe the term is "EFT."

[@QbuniversityOrg]

Rob Olson you can record these directly in the check register as EFT or Debit. This video, while about Memorized Transactions, should help and uses an example like this. kzbin.info/www/bejne/jZrGpausfK5_p9E

[@triciamunoz6580]

I am an independent billing service, how would I set up each of my "offices" I bill for when I bill them based off a % of their AR?

[@QbuniversityOrg]

Tricia Munoz I would set them each up as Customers in Quickbooks. Thanks!

[@Storiesofalifetime.]

Tricia - I would love to learn how you started doing this.. Thank you.

[@galigohe]

where can i get, ir buy this program thank you!

[@QbuniversityOrg]

Liz H thanks for the message! Are you asking about buying the actual Quickbooks software or my training tutorials? My training tutorials can be purchased at qbuniversity.org Thanks!

[@SandraCristy]

Once all the credit card charges are on QB, do you also enter the statement min payment as a bill ?

[@QbuniversityOrg]

Sandra Castellanos well you have to reconcile the card first then QB will ask if you if you want to enter a bill for payment later. You would enter the bill that way and make it for whatever amount you want to

[@SandraCristy]

The Quickbooks University is there a way to check if it has been reconciled already ?

[@QbuniversityOrg]

Sandra Castellanos yes under Reports you can view previous reconciliatioms

[@SandraCristy]

The Quickbooks University Great! Thank you so much for the info and fast reply

[@QbuniversityOrg]

Sandra Castellanos you’re welcome!

[@bitcoinm7465]

Sir how to pass multiple customer under single invoice ( manifest shipment )

[@QbuniversityOrg]

BITCOIN M hey not sure what the question is. Have multiple customers on one invoice?

[@bitcoinm7465]

The Quickbooks University , if we manifest a cargo in a single airwaybill with numbers of clients how to handle its in Quickbooks

[@QbuniversityOrg]

BITCOIN M oh I see. I thought you were trying to invoice multiple customers at once. Since this is really a shipment of inventory coming in you would record it coming in as inventory then do invoices or sales receipts selling that inventory to each customer individually

[@remaxfirstchoice7017]

Can I restrict one account from my assistants view when I have multible bank accounts.

[@QbuniversityOrg]

You cannot restrict one account from their view in Pro or Premier. This option is available in Enterprise. Tell me the version you are using and reason for restricting that one account and maybe we can figure out a workaround?

[@akitainumato9458]

🎅🏻🌲🤶🏻 merry Christmas i

[@QbuniversityOrg]

Akita INU MATO same to you!

[@AreliHernandez1234]

How do I find an invoice number that doesn’t show in my end????

[@QbuniversityOrg]

Zaira jasso what do you mean it doesn’t show in your end?

[@AreliHernandez1234]

The Quickbooks University you know when your submitting a payment and you look for the invoice and it doesn’t show does that meen the person didn’t create a file with the company? Or where can I see the stored payments like the old ones hope that make sense

[@QbuniversityOrg]

Zaira jasso it could mean it wasn’t entered or it could mean they didn’t enter the invoice number. An easy way to check is to go to the Edit drop down menu and choose Find. In there you can search by invoice number to see

[@AreliHernandez1234]

The Quickbooks University am very concerned because for example when am putting a check that I received and I have let’s say 5 diff invoice #’s and one of them doesn’t show up why does that happens that’s the major issue that I am having! Also where can I see the payments that I processed? Because if I take payment for a check and then I put the invoice # of course it’s not there where does it goes please help me with that I will really appreciate it that’s #1 problem that I have thanks for your time

[@QbuniversityOrg]

Zaira jasso well it could mean the invoice was not entered, or it was entered and someone deleted it, or maybe the customer overpaid. Unfortunately it could be a number of things

[@tinamcbride3599]

How do you reconcile cash

[@QbuniversityOrg]

Tina Mcbride you use the reconcile function in quickbooks

[@marymary6257]

This is a rip... They get your email address and then they want to charge you...

[@QbuniversityOrg]

MARY MARY thanks for your feedback. I have lots of free videos here and on Facebook that should help you. Yes, I do charge for my full Quickbooks training course, and I also provide personal support by answering users specific questions. All in all it has helped many business owners. I’m sorry it does not work for you.

[@SandraCristy]

Are you using quickbooks online ?

[@QbuniversityOrg]

Sandra Castellanos in this video no. This is Desktop

[@SandraCristy]

Is desktop better if you don’t need to directly invoice anyone?

[@SandraCristy]

Thanks for a fast reply btw

[@QbuniversityOrg]

Sandra Castellanos not necessarily. Desktop is more robust than Online but Online is nice because you can easily access it from anywhere

[@RyanK-100]

The problem with this video - and I see it all the time - is that he tells you what you do and says it is wrong. He uploads it to KZbin and it confuses the learner. ... You see what I mean? Of course you don't, because I haven't said WHAT is wrong, nor have I given a correct example of what to contrast my way with the correct way. This guy does that. He describes what works for most businesses with paying bills as they come in, says "Quickbooks will give you false reports," and moves on to the next topic. Well, WHAT is wrong with this method? Indeed, Quickbooks will NOT give false reports (unless the user thinks Quickbooks magically knows what is in the folder on your desk). It reports on what is in the program, duh. He should clarify that, "it is better to input bills every day they come in, and write checks to pay them just before the due date. This would allow the program to track unpaid bills and it doesn't really take any more time. And reports would then reflect the unpaid bills as well as everything else you use it for now. This is especially important for small businesses and startups where unpaid bills can be a major part of debt and can cause problems with cash flow."

[@QbuniversityOrg]

Thanks for the comment Ryan, and I appreciate the feedback.

[@austinduanejones]

Why does this have to be so different from QBO?

[@QbuniversityOrg]

Austin Jones do you mean the layout and user interface?

[@austinduanejones]

The Quickbooks University Thanks for the fast response. Yeah they are 2 completely different looking programs

[@QbuniversityOrg]

Austin Jones yeah I know. I think it’s just because of the complexities of making the layout and functionality of desktop in the cloud