Transcript farmhouse.org

WELCOME TO TRAINING
QuickBooks Online Edition for
FarmHouse Fraternity
VPs of Finance
Instructor: DeWayne Andersen
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QuickBooks Online
Edition
Tracking your FarmHouse
finances
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What and Why?
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What is QuickBooks Online Edition?
Internet-based accounting for easy financial management
anytime, anywhere.
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How will this help me?
Track what you spend, create a budget, print checks, keep
track of member dues, etc. and do it from anywhere you
want.
Gain control over your chapters’ money!
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Leveraging the web
QuickBooks Online Edition is different! Having your chapters’ financial data
online means:
• Working from any location with a PC and a high-speed Internet
connection. Go home during school breaks, summer and still stay
connected.
• Sharing your financial data with those who need it. Grant
accountants, business mentors, other members the ability to see or
make changes to your books.
• Scheduling transactions to be created automatically when you want
them to.
• Never worrying about the safety and security of your data.
• Never needing upgrades. You are always on the most recent version.
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Getting Started…Security
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QuickBooks Online Edition stores your data on multiple drives which
are monitored 24 hours a day, 7 days a week. Also, QuickBooks Online
Edition data is backed up every night at a separate facility.
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To protect your data QuickBooks Online Edition uses SSL technology.
This is the same technology that is used for credit card transactions
over the internet.
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To protect against hackers attacking QuickBooks Online Edition
servers, we have implemented the product in several layers with a
proprietary communications language between them that is known
only to us. Your data is far behind our firewall with only secure access.
We host your business data at a company-owned Data Center staffed
by dedicated, professional engineers and security specialists who
employ a multitude of software and hardware safeguards. Our up-time
is approximately 99.5%.
We follow strict guidelines and practices to ensure your private
information remains private.
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Getting Started…System
Requirements
 IBM-compatible 450 MHz computer with 128MB
RAM
 Windows 98 or higher
 Internet Explorer 5.5
 800x600 screen resolution
 High Speed Internet connection
 Adobe Acrobat Reader 4.0 or higher is required for
printing invoices, reports and other forms (Adobe
Acrobat Reader is available as a free download).
 Customized ActiveX file from Intuit
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Accessing QB Online
Edition
To log in, go to:
https://accounting.quickbooks.com
Or
www.qboe.com
and hit the Login button at the top right of the screen.
When prompted,
download the Active X
file. You will only need
to do this once. (A new
Active X file will need to
be downloaded when
new features are added
to the program.)
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Screen Elements
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Menu bar
Money In
Money Out
Getting Started
Overviews
Recent Transactions
Things to Do
Messages
Support
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Getting Started
Recommendations
Create New Login
Create Company
Import Data
Enter Referral Code
Set up banking account and beginning balance
Set up budget
Set up members and vendors
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Exploring Common Tasks
Invoicing Members
Creating Statements
Accepting Payments
Writing Checks
Paying Bills
Reconcile Bank Accounts
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Invoicing Members
Entering member information
AutoRecall will fill in details or you can create a
new member record.
Fill in Invoice details
Save Invoice
Printing Invoices may automatically show in To Do List
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Fraternity member records
Track member
• names
• phone numbers
• addresses
• email addresses
• owed balances or credits
• items or dues paid for by
members
• expenses by member
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Sample member statements
Print or email statements to your fraternity members.
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Accepting Payments
Members/Receive Payments
Name
Invoices and Outstanding Transactions
Date
Amount
Payment Method
Group with Other Undeposited funds
Memo
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Making Deposits
Banking / Make Deposits
Click items to include in deposit. These items
were grouped here through the Accepting
Payments process.
Add any other deposit items
Save deposit
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Sample Deposits
Enter in deposits
made to bank
accounts.
Group payments and
other monies
collected into one
deposit and print a
deposit summary
report or deposit
slip.
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Writing Checks
Banking / Write a Check
Fill in Pay To the Order Of
AutoRecall will populate information from the Vendor
list or you can add a new vendor
Enter Amount
Select Account
Split Transactions
Save
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Printing Voucher checks
Not only can you record your
checks, you can print them
using pre-printed Intuit Voucher
checks.
To order, call 1-800-433-8810.
Currently QB Online Edition does
not have an online banking
feature, so you cannot
download bank transactions
directly into the program. All
expenses will need to be
entered manually.
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Paying Bills
Bill Payments can be made by simply writing a check or
setting up bills to be paid at a later time.
Vendor/Manage and Pay Bills Later activates additional
options in the vendor menu.
Vendor– Linked to vendor list through AutoRecall
Reference number
Bill Date
Amount Due
Term
Due Date
Save or Make Recurring
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Reconciling Bank
Accounts
Banking / Reconcile
Place a check next to items that are listed on your
statement
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Reconciling accounts
Reconciling your bank
and credit card
accounts often
helps you track
errors you may
have made or that
the bank may have
made.
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Company Preferences
Company Contact Information
Company Information (EIN, fiscal year, etc.)
Categories
Invoice Customization and Automation
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Inviting other users into
chapters’ books
You will most likely only need up to 3
regular users plus one free ‘accountant
user’. There are varying levels of
access you can give another user.
• Company Administrator- they have
access to everything but cannot cancel
the subscription. (count as a user in the
subscription price)
•Regular or Custom User- you can
decide whether to give access to
Members & Sales, Vendors &
Purchases, or both. (count as a user in
the subscription price)
• Reports-Only User- they can only see
reports, but cannot edit, add or delete
information. (unlimited, free users)
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Create a budget
Track projected income and
expenditures vs. actual
income and expenses with a
monthly budget.
Run Profit & Loss reports vs.
Budget reports.
Company / Budgets
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Schedule recurring
transactions
Schedule invoices for
dues, housing, or other
transactions to be
created automatically.
You can schedule them
to occur monthly,
quarterly, yearly, etc. by
using Recurring
Templates. Then all you
need to do is record and
apply payments.
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Automation
Invoices can be created automatically by creating
a Recurring Template or Invoice Automation.
Recurring Template is created for each member
Invoice Automation is done automatically for all
members, according to a schedule
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Reports
Run reports essential
to keeping track of
your finances.
Email these reports to
whoever may need
to see them.
Customize them for
various date ranges,
transaction types,
etc.
Memorize them for
quicker access in the
future.
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Reports continued
Find all your reports on the
Reports Overview.
Some of the most helpful
may be:
 Balance Sheet
Profit & Loss
Member Balance Detail
 A/P Aging
 Deposit Detail
Budget vs. Actuals
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Audit trail
Track changes made
to transactions and
accounts.
This helps in finding
and correcting
mistakes.
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Activity log
The Activity Log
(under the Company
menu) shows you
who logged in, when
and what they did.
This is also a unique
feature that allows
for finding and
tracking changes or
mistakes.
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What QB Online Edition
cannot do
Inventory
Online banking and bill pay
Graphs
Print 3-per page checks
Job costing
Handle multiple Accounts Receivalbe/Payable accounts
Purchase orders
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What QB Online Edition
can do
QuickBooks Online Edition can make tracking your chapter finances
easy. By having everything a super-simple program online and your
information safe in our data center, you free yourself from worrying
about the security of your data and free yourself from being in one
location.
For technical support, click on the Support link at the bottom of every
page and we’ll call or email you back!
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