Youtube News: Youtube daily report w Mar 22 2018

Hi everyone it's wages Wednesday yet again.

We've only got 2 more days for the survey

so you've got to do it today or tomorrow because

it closes Thursday afternoon.

Your delegates are all meeting on Brisbane on Friday

and they will then decide what the figure is

to put out to a poll of, just union members, for the next 4 days.

The other thing today

is that the ACTU are launching the next phase of their

change the rules campaign.

Keep an eye out for that because we want to be making the most of that ACTU campaign for

our wages campaign as well.

Survey link is in the description!

Have a great wages Wednesday every body!

For more infomation >> It's Wages Wednesday! 21 March 2018 - Duration: 0:35.

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How to Track and Pay Sales Tax: Tracking, Recording, & Reports | QuickBooks Online Tutorial 2018 - Duration: 2:26.

QuickBooks is not capable of filing or paying your sales tax.

But you will need to tell QuickBooks about your sales payment that you perform at your state's sales tax website

or other means of submitting that payment. QuickBooks can help you with that filing, however, with a report.

Let's run that report by going to Reports, and then in the go to report field, enter sales tax

and then chose sales tax liability.

If you do business in an area that has a combined tax rate, or if you collect taxes in multiple jurisdictions,

QuickBooks will break down the taxable amount of your sales

and the tax that's been collected for each one of the sales taxes that you are responsible for.

This information is usually necessary to file your sales tax.

To get started telling QuickBooks about your sales tax payment, click Taxes, and then View return.

Here QuickBooks gives you some advice on how to file and pay you sales taxes, but this will vary by state.

And here QuickBooks gives you some general information about your sales and taxable sales during the filing period.

If you need to reduce or increase the tax paid, click on Add an adjustment.

And here you can enter the reason why the tax needs to be increased or decreased, as well as an income

or expense account to categorize the increase or decrease, and the amount of the adjustment.

Once you've made your tax payment outside of QuickBooks, and you've entered any adjustments inside of QuickBooks,

click Record payment.

Then enter the payment amount that you made as well as the date that the payment took place

and the bank account that you used to make the payment.

If there are any additional notes enter them right here and then click Record payment,.

Now QuickBooks has marked the tax as paid and close the window.

If you ever need to see a record of your sale tax returns, choose history, then View return.

Though you cannot file any sale tax file through QuickBooks,

it can still help you in your filing outside of QuickBooks. [MUSIC]

For more infomation >> How to Track and Pay Sales Tax: Tracking, Recording, & Reports | QuickBooks Online Tutorial 2018 - Duration: 2:26.

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Mercedes-Benz AMG GT AMG GT R - Duration: 0:56.

For more infomation >> Mercedes-Benz AMG GT AMG GT R - Duration: 0:56.

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How to Set Up Your Chart of Accounts: Understanding the Basics | QuickBooks Online Tutorial 2018 - Duration: 2:31.

Much like your financial statements, your chart of accounts is divided up into different sections.

Let's take a look at the chart of accounts by clicking on Accounting from the nav bar to the left.

The order of accounts that appear on the chart of accounts is determined by the account type.

The account type of an account also determines which financial statement it appears on,

and how you use it on transactions. The Chart of Accounts displays the type of each account here in the Type column.

In the first section of the Chart of Accounts, you see asset accounts.

And then scrolling down, there are also liability accounts and equity accounts.

These accounts are organized in the same manner as the balance sheet.

Scrolling down further you'll also see income, cost of goods sold and expense accounts.

These accounts appear in the exact same order as they appear on the profit and loss statement.

When you create a new account you scroll to the top of the chart of accounts and then you click New.

The very first thing that QuickBooks asks you to enter is the category type.

At the top are the balance sheet accounts, followed by the profit and loss statement accounts.

To set up a new account all you have to do is select the type of account that you want to create

and then choose a detail type.

The detail type does not determine how the account is used, or how it's displayed on a financial statement.

It's merely more information that you enter into QuickBooks as a kind of a description.

Choosing a detail type is not critical, so simply take your best guess.

Then enter in a name for the account that you're creating up here at the top right.

QuickBooks also gives you a separate description field and you can make an account a sub account of another account.

Finally, if you're entering an account that appears on the balance sheet, you can also enter the opening balance here,

and the as of date for when you had that balance. This is most common for new bank and credit card accounts.

Once you're done entering your account's information, click Save and Close.

And now the account appears on the Chart of Accounts and you can use it just like any normal account.

Remember to set up an account for anything that's important for you to see to make good decisions,

or to track for tax purposes. [MUSIC]

For more infomation >> How to Set Up Your Chart of Accounts: Understanding the Basics | QuickBooks Online Tutorial 2018 - Duration: 2:31.

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How to Work w/ Your Accountant: Documents, Information & More | QuickBooks Online Tutorial 2018 - Duration: 1:03.

QuickBooks Online makes it easy to work with your accountant because you can

invite them into your company to make changes remotely or from any device that

they have access to the Internet to send that invitation to your accountant click

on my accountant and then enter your accountants email address right here

once the invitation is sent your accountant can open the email and

confirm that they are your accountant from that point on they'll be able to

log into your company file if you don't have an accountant you can also click

find a pro to help and from this menu you can search based upon your location

service provided industry served and also which version of QuickBooks you

have each Pro adviser lists their services and also has handy reviews you

can click on any one of their entries to find out more about them once your

accountant is invited they can log in at any time and help you out

For more infomation >> How to Work w/ Your Accountant: Documents, Information & More | QuickBooks Online Tutorial 2018 - Duration: 1:03.

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How to Use Journal Entries | QuickBooks Online 2018 - Duration: 1:55.

To get the most out of QuickBooks's reporting capabilities, general journal entries should be used as a last resort.

Open in the Create menu, if a transaction involved a customer,

you should use transactions underneath the customer's area of the Create menu or if transactions involved a vendor,

you should use transactions underneath the vendor's section of the Create menu.

But in some rare occurrences, you

or your accountant may need to record something more abstract in QuickBooks such as value moving from one account to

another to correct an error or to summarize depreciation of an asset. Let's enter a journal entry now.

QuickBooks displays the date and journal number at the top of the journal entry.

Now, enter the first account that you want to be impacted by the journal entry.

One of the most common reasons for entering a journal entry is depreciation.

In a typical depreciation entry, the first account to be entered is another expense account named Deprecation.

Then enter the debit or credit amount, depending upon what it is you're trying to do with the journal entry.

In our case, we'll be debiting depreciation by the amount we're depreciating from this asset.

Then enter a description for why you're entering this journal entry.

Next, enter the second account for the journal entry.

With a Depreciation journal entry, you enter the depreciation sub-account of the fixed asset.

And QuickBooks fills in the credit amount for you automatically, as well as the description.

Finally, click Save and Close to record the journal entry. Mechanically, journal entries are very simple to enter.

But they are difficult to master because they require an understanding of debits and credits.

If you don't know the ins and outs of debits and credits, consult your accountant before ever entering a journal entry.

[MUSIC]

For more infomation >> How to Use Journal Entries | QuickBooks Online 2018 - Duration: 1:55.

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How to Automatically Email Reports | QuickBooks Online Tutorial 2018 - Duration: 1:48.

Once you've saved your customizations for a report,

you can have QuickBooks automatically email that report to you on a set basis.

First, go to the Reports Center and then click Custom Reports.

We've created a report called the Profit and Loss for Last Quarter,

and we want this to be sent out to us every three months. To do that, click Edit.

The report name, report group and who your report is shared with are already filled out.

But by clicking this toggle, we can tell QuickBooks to automatically email this report to us whenever we want.

Scrolling down, from here you chose how often you want the report to be emailed.

Daily, weekly, monthly or twice a month. And you can also tell QuickBooks to skip periods.

For us, we wanna receive this every three months. From here you can chose a day of the week.

But we'd like to have this report sent to us on the first day of every month.

You could also tell QuickBooks to stop sending you this report by an end date or after a number of occurrences.

We want this report for forever, so we'll choose none here.

Further down on the page, you then enter the email address

or multiple email addresses that you want this report sent to.

You can separate multiple email addresses with commas, or you can click on CC to enter carbon copies.

Then you can set the subject line for the emails that deliver the report, as well as the body of the email.

Down at the very bottom, you can also choose for QuickBooks to attach this report as an Excel file to the emails.

Once you're done, you click save and close.

Now QuickBooks shows that this report will be emailed out every three months.

Now instead of running a report ourselves every quarter, we just have QuickBooks email it to us. [MUSIC]

For more infomation >> How to Automatically Email Reports | QuickBooks Online Tutorial 2018 - Duration: 1:48.

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How to Track What Customers Owe You: Accounts Receivables & More | QuickBooks Online Tutorial 2018 - Duration: 2:38.

QuickBooks has many methods for tracking what your customers owe you.

Any time you enter an invoice or a payment from a customer,

QuickBooks alters the accounts receivable balance for that customer.

You can observe the accounts receivable balance for your entire company,

by clicking Accounting to open the chart of accounts.

In the Assets section of the Chart of Accounts, you have an account named Accounts Receivable.

And this balance right here represents the total amount of money that is owed to you by your customers.

This balance is useful, but you normally wanna see a customer by customer breakdown of the balance.

To get that, click Sales and then Customers.

Right up here at the top of the screen,

QuickBooks tells us that we have open invoices in the amount of the Accounts Receivable balance.

But if we click on that amount and then scroll down, we can then see which customers owe us money.

And if you added up all of these open balances together, you would get to this total amount.

This list is good if you need to see at a glance, who owes you money and how much.

But it doesn't give you any aging information. To get that, go to the Reports center.

And there are two reports that you can use to see the aging information for your customers' invoices.

They're both on the Who Owes You section of the Reports center.

And the first is the Accounts receivable aging summary report.

This report shows you who owes you money and it also shows you how much of their balance is current, so not overdue.

As well as aging information for 1 to 30 days overdue, 31 to 60 days overdue and so on.

There's also a total for each customer over on the far right. And a total for aging period, down to the very bottom.

If you need to zoom into any one of these numbers to see the actual invoices themselves, simply click on them.

And here you can see the individual invoices.

Another report that's useful for tracking who owes you money and whether or not they're overdue,

is the accounts receivable aging detail report.

This report gives you largely the same information, but instead of being grouped by customer,

it's instead grouped by aging period.

So here you can see all of the invoices that are between 31 and 60 days overdue,

as well as a total amount for those invoices.

And then all the invoices that are 1 to 30 days past due and a subtotal for those invoices,

and then the invoices that are current.

Use all of these various methods to determine what your customers owe you and whether

or not they're overdue on their invoice. [MUSIC]

For more infomation >> How to Track What Customers Owe You: Accounts Receivables & More | QuickBooks Online Tutorial 2018 - Duration: 2:38.

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How to Track Your Sales by Customer: Sales & Calculating Income | QuickBooks Online Tutorial 2018 - Duration: 1:46.

A basic but important metric for many businesses is to determine their sales by product or service.

To see sales by products and service, you can go to Reports, and then run one of two reports.

The first report to look at, is the Sales by Product or Service Summary.

This report displays all of the products and services that you've sold over the selected period of time.

And it also lists the quantity sold, the total monetary amount that was sold,

the percentage of your total sales that that product or service represents,

the average price that you sold the product or service for.

And if you sell inventory, it also lists your costs of goods sold, gross margin, and gross margin percentage.

Because this is a summary report, it does not show individual sales.

But if you would like to see the individual sales, you can click on any one of the amounts

and QuickBooks will give you a list of the actual transactions that make up those totals.

Going back to the Reports center,

there is another relevant report that can show you all of the transactions involved in your product and services sales.

Now, let's look at sales by product or service detail.

This report is similar to the summary report in that it give you total sales for each one of your products

and services,

but lists each individual transaction directly on this report instead of having to drill down into the details by

clicking the amount numbers. Naturally this results in a much longer report for both businesses.

Sales by Product Report Summary in detail reports are an essential report for running most businesses. [MUSIC]

For more infomation >> How to Track Your Sales by Customer: Sales & Calculating Income | QuickBooks Online Tutorial 2018 - Duration: 1:46.

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How to Categorize Transactions: Types of Accounts & Fixing Errors | QuickBooks Online Tutorial 2018 - Duration: 2:57.

properly categorizing transactions is key to generating useful statements

let's examine the process of categorizing a transaction on an expense

form anytime you record a financial transaction into QuickBooks you have to

tell QuickBooks why you're receiving money or why you're spending money and

that's where categorization comes in whenever we look at an expense

transaction we're able to assign where the money is coming from at the top of

the forum and then down here in the account details we tell QuickBooks why

it is that we're spending the money most of these selections are going to be

pretty clear but there are some important things to point out anytime

you want to see something singled out on a profit and mall statement make sure

that it has its own expense account but it's also important to note that

sometimes you spend money on things that are other than expenses sometimes you

make larger purchases and actually buy assets there's a big difference between

assets and expenses which is that assets are things that you buy and you get to

keep and use over and over and over again

whereas an expense of something you spend money on and you're not able to

use it over and over and over again for instance if you bought a new computer

you get to use that computer over and over again so it's an asset whereas if

you buy a bottle of water once you drink that bottle of water it's gone so that's

considered an expense there's sometimes a little bit more nuance than that but

those are the guiding principles between expenses and assets also if you pay

vendors and contractors that you eventually have to issue a 1099 it's a

good idea to have a special account on your chart of accounts for categorizing

those labor expenses the reason for that is that whenever you go through the

process of creating it $2.99 you tell QuickBooks which accounts you

used to pay your contractors having an account set aside ahead of time just for

those labor expenses is gonna save you a lot of time whenever you're creating two

99s another thing to keep in mind whatever you're categorizing

transactions when you see in your list of options a choice between a parent

account and sub accounts it's important for you to use a sub account that gives

you greater control over the level of detail that you see on your profit and

loss statement and it also helps to organize your statements one last tip

about categorizing transact whenever you look at the expenses list

there is an option for you to change the categorization of multiple transactions

if you've made a mistake and categorized mini transactions and properly you can

select their checkboxes here and then click batch actions categorize selected

this allows you to recategorize a batch of transactions with a different expense

cost of goods sold asset or other account remember to categorize

transactions so that they'll be meaningful to you later on your reports

For more infomation >> How to Categorize Transactions: Types of Accounts & Fixing Errors | QuickBooks Online Tutorial 2018 - Duration: 2:57.

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How to Handle Inventory From a Vendor: Expenses & Backorders | QuickBooks Online Tutorial 2018 - Duration: 3:32.

we've sent our purchase order off to the vendor waited a couple of days and now

our inventory has arrived it's time to enter that transaction into QuickBooks

to tell QuickBooks about inventory going up and potentially us also either

spending money or receiving a bill from the vendor to enter the receiving of

inventory first open the create menu and then enter either an expense a check or

a bill if you pay for the inventory right away as soon as it's received you

enter the transaction either as an expense or a check a check is used if

you pay for the inventory right away and you pay for it with a physical check

whether it's handwritten or printed out of QuickBooks an expense is used if you

pay for the inventory right away and you use anything other than a check a bill

is used if you receive the inventory and the vendor gives you a bill telling you

how much money you owe them and also a due date so you're gonna be paying them

later on after you've actually received the inventory the method for entering

any of these transactions is exactly the same the only difference is when and how

you're paying your vendor our vendor gives us a bill to pay later so we'll

record a bill for the vendor enter the vendor that's sending you the inventory

and if you have an open purchase order you'll see that over here on the right

we entered a purchase order earlier for some lawnmowers so that's what this

purchase order is for let's add it onto the bill and now in the item details

area we can see the lawnmowers that we ordered if any information on the bill

is different from what it was on the purchase order such as the amount of

inventory being delivered or the amount you're paying per unit you can change

them right here for instance Hicks Hardware didn't have 100 lawn mowers on

hand so they only sent us 50 so we'll enter 50 right here on the bill and now

the bill will only be for $10,000 instead of $20,000 we also need to

record our terms bill date and due date here in the middle of the screen as well

as the bill number that our vendor sends to us there's also an area right here

for memo and any attachments so if your vendor has provided you with ap

F of the bill you can attach it to the bill as you enter it now let's save and

close this transaction regardless of whether you received your inventory with

an expense a check or a bill QuickBooks now knows about you owning that

inventory and if you recorded the transaction as a bill you can keep track

of the amount of money that you owe your vendor by going to expenses vendors and

here we can see Hicks hardware and our accounts payable balance with them if

you're receiving inventory on a purchase order and it was only a partial

fulfillment of that purchase order you can also track the progress of the open

purchase order by going to reports and then running the open purchase orders

detail report from this report we can still see that the purchase order is

open and the original purchase order was for 100 lawnmowers but we've only

received 50 which means that we still have 50 on backorder

so QuickBooks will keep track of the purchase order how much has been

fulfilled and how much does not whenever you receive the inventory from that

purchase order use expenses checks and bills to tell QuickBooks about you

receiving inventory

For more infomation >> How to Handle Inventory From a Vendor: Expenses & Backorders | QuickBooks Online Tutorial 2018 - Duration: 3:32.

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How to Add & Edit Users For Your Company | QuickBooks Online Tutorial 2018 - Duration: 2:29.

QuickBooks online allows you to set additional users to access your data and also potentially enter transactions.

You can access your list of users by selecting the gear icon and then choosing Manage Users.

From here you can see the master admin account which is the email address you use to set up your QuickBooks online

company.

You can also see any accounting firms that you've invited into your company file

or click Invite Accountant to invite more. To set up a new user that is not your accountant click new.

From here you select the type of user you want to create.

Regular or custom user, which are allowed to log into your company file

and enter some transactions depending upon the access levels you assign.

Company administrator, which are able to log in and basically enter any transaction.

Reports only user, which are able to log in and only look at reports, or Time Tracking only users,

which are only able to log in and enter time for themselves.

You can have as many reports only and time tracking users as you want to,

but you are limited in the number of regular custom users

and company administrators based upon your subscription level.

Let's set up a regular or a custom user and then click Next.

Here you chose the access rights for the user that you're setting up.

You can give them access to all transactions or you can limit their access to just customers and sales

or to just vendors and purchases.

Note that whenever you select one of the access levels,

QuickBooks lists all the things that they do an do not have access to on the right.

In the next screen QuickBooks also asks whether or not this user should be able to fill out their own time sheet.

And if so you can choose their name from the list of employees or vendors that you have in your company.

Then we click Next.

And here you can select between different administrative rights to give or not give to the user you're setting up.

Finally you enter the email address and name of the user that you're setting up in QuickBooks.

Then click Next, and now the user will be sent an email confirming their user ID,

and allowing them to set up a password.

Then click Finish and once they've answered they're email, they can then log into QuickBooks online

and access anything that you give them access to.

If at any time you need to edit the user or delete them, you can also select them from this list

and then click either edit or delete. Make your company more efficient by inviting more users into QuickBooks online.

[MUSIC]

For more infomation >> How to Add & Edit Users For Your Company | QuickBooks Online Tutorial 2018 - Duration: 2:29.

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Understanding the Balance Sheet: Asset, Liability and Equity | QuickBooks Online Tutorial 2018 - Duration: 2:35.

The balance sheet is used to track all of the assets, liabilities, and equity of a business.

You can access the balance sheet by clicking Reports over on the left nav bar

and then balance sheet underneath Favorites.

The balance sheet displays what the business owns and what the business owes as of a single day.

This can be seen as a snapshot of your business. The first section of the balance sheet are the company's assets.

This is what the business owns. First, you can see the business' bank accounts followed by accounts receivable.

This is a record of what your customers currently owe you.

There are also other current assets, these are assets that you plan on selling within one year.

And then finally, fixed assets. These are large purchases that a business uses over the course of several years.

Scrolling down, the second section of the balance sheet is liabilities and equity,

this is a measure of what the business owes.

The first section of liabilities and equity is liabilities,

this is what the business owes to people outside of the business.

First is account payable, this is what the business currently owes on open bills.

Followed by credit cards, then other current liabilities, like lines of credit.

And then finally, long-term liabilities, which are larger loans that take several years to pay,

like small business loans or car loans. The final portion of a balance sheet is equity.

This is what the business owes to the owners.

Essentially, this is the value of the business from the point of view of the people that own the business.

The basic accounting equation at the heart of the balance sheet is Assets = Liabilities + Equity.

So basically, if we took everything that the business currently owns,

so all of the assets worth $52,234.96 sold it all off.

The first people that we would have to pay off are people outside of the business. So we would pay them $18,068.27.

Then the money that we have left over after we pay off all of our vendors

and creditors is what the business is worth to the owner, $34,166.69. And that's what you would get to keep.

Monitoring your balance sheet on a regular basis is integral to maintaining the health of your business. [MUSIC]

For more infomation >> Understanding the Balance Sheet: Asset, Liability and Equity | QuickBooks Online Tutorial 2018 - Duration: 2:35.

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How to Record Billable Time: Employees & Contractors | QuickBooks Online Tutorial 2018 | - Duration: 3:04.

Use time tracking to track the hours that your employees and vendors work for you.

Open the Create menu and underneath Employees are two time tracking options, Single Time Activity and Weekly Timesheet.

Single Time Activities are normally used by professional services companies.

And with this sort of time tracking option, you can enter the name of the employee or vendor who performed the work,

what day the work was performed on, the customer, if they worked for a particular customer,

as well as the service that they performed. And if the time is marked as billable, you can also enter a billable rate.

Finally, you enter the amount of time that they worked for that particular activity.

Most of the time, however, people enter time for a Weekly Timesheet.

Weekly Timesheets are also accessible through the Create menu, underneath the Employees section.

Weekly Timesheets are more common because it allows you to enter all the time that an employer

or vendor has worked over the course of an entire week all at once.

Up at the top left, you choose the employer or vendor's name from the list.

And then right here, you also choose when the work was performed. We're gonna enter time for last week.

The customer field allows you to track who the work was performed for.

This is optional, but if you want to bill a customer for the work, you do have to include a customer's name here.

Next, you can also include a service item. This comes from your Products and Services list.

Again, this isn't required, but if you wanna track specifically what the employer or vendor did during this time

and then also bill the customer for that, you can choose it from this list.

Here, you can mark the time as being billable to the customer, and then also fill in the rate per hour.

Then over here on the right, we'll enter the number of hours per day that this employer or vendor worked.

They worked for eight hours every day of the week.

Notice that the time sheet also has Sunday and Saturday labeled right here.

You can turn those off by clicking on the gear icon and then unselecting any days that your employees

or vendors don't work. Finally, there's also a copy last time sheet.

So if your employees or vendors peform the same work every week,

you can just click on this link to bring over the information from the previous week. Now let's save and close.

It's important to note that time is a non-posting transaction,

which means that the time we just entered will not impact any of our account balances at all,

but you can track the time through special time reports available in the Reports center.

Up here at the top-right, just type in time, and you can see all of the time report options,

recent edited time activities, time activities by customer detail, time activities by employee detail.

And then unbilled time for a listing of all the time you've entered that was marked as billable,

but you haven't included on an invoice to a customer yet. [MUSIC]

For more infomation >> How to Record Billable Time: Employees & Contractors | QuickBooks Online Tutorial 2018 | - Duration: 3:04.

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How to Set Up Sales Tax: Settings, Sales, & More | QuickBooks Online Tutorial 2018 - Duration: 2:21.

If you charge customers for taxable products or services set up your sales tax by selecting Taxes

and then Set up sales tax.

If you've already entered your companies address, QuickBooks will already have that information on the screen.

Otherwise, you can enter it yourself. Once you know that your address is accurate, click Looks good.

And then click Next. Here QuickBooks asks if you need to collect sales taxes outside of your state. If so, select Yes.

We do not, so we'll select No. Now tell QuickBooks about when your current tax period starts, ours begins in January.

Then, how often do you have to file a tax return for this agency. We file monthly.

And finally, when did you start collecting sales tax for this agency?

We began collecting for this agency on January 1st, 2018.

Now click Next, and now QuickBooks has set up sales tax for you. Click Got it.

The next step in setting up your sales tax is insuring that your products and services

and customers are marked as taxable if they need to be.

You can do this by clicking on Sales, and then Products and Services.

Any product or service that you sell that you need to collect sales tax on, be sure to edit it.

And then down towards the bottom of the Products and Services screen, mark it as taxable.

Then, you can enter the sales tax category. The lawn mowers that we sell are retail products.

And then select what you sell. The lawn mowers that we sell are taxable retail items. Now, Save and close.

Now, QuickBooks will automatically calculate sales tax, whenever we sell any of our lawnmowers.

If you have any customers that are non-taxable, like charities, schools or churches click on Customers.

And then click the name of the customer.

Then Edit, and in the Tax info, from here you can mark, This customer is tax exempt,

as well as the reason for the exemption, and the exemption details.

When you enter sales for those customers or products and services, QuickBooks will automatically remember whether

or not they are taxable. [MUSIC]

For more infomation >> How to Set Up Sales Tax: Settings, Sales, & More | QuickBooks Online Tutorial 2018 - Duration: 2:21.

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How to Record Discounts for Customers | QuickBooks Online Tutorial 2018 - Duration: 2:31.

Discounting a customer's sale is a simple process, but you first have to turn on a setting.

To do so, click on the Gear icon up at the top right, and then choose Account and Settings.

Now from the categories to the left, choose Sales, and click Sales form content.

Here turn on Discounts, and then Save, and click Done. Now, let's record a sale using a discount.

First, open the Create menu, and then open the sales transaction that you want to enter.

This process is the same regardless of the type of transaction you're entering. Let's record a sales receipt.

We're selling something to Amy's Bird Sanctuary. And in the Payment method, we'll choose Debit Card.

Right here in the Deposit to, we're having our merchant services company process this debit card,

which is deposited at the end of the day. So we'll choose Undeposited Funds.

Your choices here at the top of the screen will not impact the discount.

And regardless of the payment method being used, the process for entering a discount is the same.

Let's scroll down this transaction, and here you enter all of the products

and services that you're charging your customer for.

We're charging Amy's Bird Sanctuary for Gardening, and it is for three hours worth of gardening.

Right now, it reads that the customer is going to be charged for $225.

But they're a good customer and we want to give them a discount.

So right here in this Discount drop down area, we can choose between a Discount percentage or a Discount value.

We're going to give them a discount of 10%, so enter 10 here in the field. And then press Tab.

Now quickbooks calculates that as being $22.50, which is subtracted from the total.

So we're actually only receiving $202.50. Now let's save the transaction by clicking Save and Close.

QuickBooks summarizes the negative income that you give to customers in discounts on the profit

and loss statement by going to Reports and then opening the Profit and Loss.

Here you can see discounts given as Contra-Income,

so this is where we negative $22.50 that we didn't receive on that sale.

Use discounts as a percentage or value to give discounts to your customers. [MUSIC]

For more infomation >> How to Record Discounts for Customers | QuickBooks Online Tutorial 2018 - Duration: 2:31.

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How to Add Columns to Reports: Comparing Customers & Time Periods, | QuickBooks Online Tutorial 2018 - Duration: 3:05.

One of the most common methods for customizing a report is to add and edit the columns.

Let's demonstrate how to do this on a list or detail report by going to the Reports center

and then opening the Sales by Customer Detail report.

The Sales by Customer Detail Report shows each line of every sale sorted by customer for the selected date range.

It also includes information for each of the columns presented here.

But you can alter the columns that you see on this report by scrolling to the top, clicking Customize,

and then choosing Rows/Columns.

Now let's click change columns, and to remove a column just unselect the check box,

or you can add a column by clicking on any of the empty check boxes.

You can also reorder any of the columns presented right here, by placing your cursor over the nine little dots,

clicking and dragging it to where you want it to appear. Now let's run the report again.

And here we can see a list of our sales transactions.

And because we've added the A/R Paid column, we can see whether or not the invoices listed have been paid.

Adding and editing columns on summary reports is a little bit different.

So, let's open a profit and loss report to see our options.

Now scroll to the top of the screen, and there are two areas where we can add columns for summary reports.

First, the Display columns by, and also Compare another period.

From Display columns by, you can choose from any of these metrics to split up the data on the report.

So if we choose Months and then run the report again, QuickBooks shows us our profit

and loss report by month for the selected date range.

You can also compare different periods of time against one another here.

Let's take a look at how the business is doing this quarter compared to the previous quarter.

First, we need to see the data for this quarter. So click the date range drop-down menu and select, This Quarter.

Then click the Compare another period drop-down arrow and select, Previous period, and $ change as well as % change.

Then run the report again.

Now we can see the current quarter compared to the previous quarter, as well as the dollar change

and percentage change for each of our income, costs of goods sold and expense accounts.

From here you can also compare the current period against the same period of time last year.

And you can also add a column for this year's date so that you can see your profit

and loss report for the selected period compared to the entire year.

Finally, on a profit and loss report there are options for % of Income and % of Expense.

That way you can run the report again, and now you can see what percentage of your income

and expenses are coming from each one of your income costs of goods sold and expense accounts.

Add and edit the columns on the reports to get more information out of QuickBooks. [MUSIC]

For more infomation >> How to Add Columns to Reports: Comparing Customers & Time Periods, | QuickBooks Online Tutorial 2018 - Duration: 3:05.

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How to Collect and Record Sales Tax | QuickBooks Online Tutorial 2018 - Duration: 1:58.

To record a sale for taxable products or services, first open the Create menu

and then choose the sales transaction underneath Customers.

The process for recording a taxable sale is the same for both sales receipts and invoices.

Now, enter the customer's name and then enter the details for the sale, such as the terms that you give the customer,

the invoice date, and the due date.

In the products and services area, enter all of the things that you're selling to your customer.

Let's chose lawn mower from the list. And notice that this product or service has been marked as taxable.

That means that when this product or service was set up, it was marked as taxable, or

when it was later edited it was marked as taxable.

Then enter the details of the sales ,such as the quantity, the rate and the total amount.

Let's enter another product or service below the lawn mower.

In this case, we're going to enter trimming and this is a service we offer.

We're going to enter five hours of that and the total is $250 but this is a non-taxable service.

Scrolling down, here we can see that Quickbooks calculates a subtotal of all the amounts pre tax.

Then it divides up the taxable subtotal here and applies a sales tax to that amount, which is $72.

The total amount for this sale is $1,122 so Quickbooks is calculating the sales tax for us on this sale.

In order for sales tax to be assessed on a sale, the product or service has to be marked as taxable

and the customer must also not be exempt.

Quickbooks automatically calculates sales tax

and puts the appropriate amount of sales tax into your sales tax liability account. [MUSIC]

For more infomation >> How to Collect and Record Sales Tax | QuickBooks Online Tutorial 2018 - Duration: 1:58.

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