QuickBooks: Banking

Name: QuickBooks: Banking
Author: Cindy McGuckin

How to set up your company's finances for banking.

Preview the first lesson free — get full access to all 7 lessons.

Course: On-Demand

Hey there, welcome to QuickBooks online. My name is Cindy. We're going to talk about bank registers in this video. You have lots of different bank registers you can work with in QuickBooks. You have basic checking and savings accounts. You're going to have things like your PayPal, your square. You might want to open your loan accounts, your credit card accounts. I'm going to show you several different ways to get to the registers, and then you'll see a list of all the registers you can open, and see what's going on. There are a lot of different ways to go to registers in QuickBooks. Normally when you first open QuickBooks online, you're on the dashboard option over in this navigation pane. From this screen, if you go to the bottom right hand corner, you'll see, go to registers. Here it gives me a choice of my checking savings, MasterCard and Visa, I'll choose my checking, and now I'm in my checkbook register. Another way to get to your registers, is to get to the banking option for the navigation pane. From the sub menu, choose banking. And now you're looking at all the accounts you have set up for bank feeds. I'm clicked on checking, and if I want to go to that register, I'll just come over and click on go-to bank register. You'll notice that the latest transactions will appear at the top of the list. If you prefer them at the bottom of the list, you can actually come up and click this arrow next to date, and that will sort the list in descending order or ascending order whichever you prefer. The way the transactions are set up, you'll see there's two lines per transaction. The first thing you're gonna have is the date, the next thing would be if you have a check number or you'd like to put the word debit or something here, just like you see here, that's check number 75, this is expense number 76. Then you have the payee, that's who the transaction's made out to. Then there's a place for a memo, and then there's a column for the payment. There's also column for deposit, all payments from this column, deposits are in this column. The second line tells you what type of transaction it is. You can see that this was a cash purchase, this was a credit card credit, this was a check, but everything in here ran through the checking account. So don't get thrown off by the same cash purchase or this saying expense or check. The most important thing here is going to be the account. When you click anywhere in the transaction, it's going to bring up this, and that way you can edit to this. Now, some things can be edited right from this screen. Like you can change the date or if you want to change the payee for example, or the memo. But notice I can't change the account from here. In order to change that, I have to click on this word edit down here, and that will take me into the transaction and I'll be able to change anything I want at this point. I'm going to go ahead and hit, save and close at the bottom. And if you've made any changes, they'll be reflected immediately in the register. Anything that comes out of the checking account is considered a check or in QuickBooks online, sometimes you'll have an expense, and that's just terminology. The other column I want you to notice is the one with the check mark here. If you see a check mark, that means that transaction has been reconciled. Do not click here to put a check there, or if you already see a check then don't click there to uncheck it, either those will throw out any reconciliation you've already done. And then you'll notice the balance in your account over on the right hand side here. Now there are a couple of things you can do in this window. If you decide to change the register, you'd like to look at, notice you can come up here and just change to the savings if you prefer, or any of these that you see on the drop down list. If you wanted to reconcile this account, this is where you go to do that. You'll also have the ability to print your transactions, or if you wanted to go ahead and export this list of transactions to Microsoft Excel, you could do that as well. The last option here are your settings. There might be a column that you wanna turn on that's not currently here, or you can show this in a one-line fashion as server 2 line. This is an example of one line where everything's just across in one line. You can also show it in paper ledger mode if you prefer. And that's this one right here. Most of the time though, it's set on the two line. Now that you know how registers work in QuickBooks online, you might want to think about doing some transactions, like maybe transfer money from checking to savings , and see how they show up in each register.

Advanced Provider : Cindy McGuckin 7 Lessons · 31m in Arabic, German, English, Spanish, French, Portuguese, Chinese

Course Description

In this course, you’ll see how to set up your company's finances for banking by looking at your bank feed, creating transfers, and reconciling your feed. You’ll also learn how to download transactions, disconnect bank feeds when no longer needed, and work with different bank registers. You’ll also explore how to integrate payment platforms such as PayPal and Square.

What You'll Learn

Set up bank accounts and reconcile bank feeds in QuickBooks
Create bank transfers and work with different bank registers
Set up bank feeds and download transactions
Disconnect bank feeds when they are no longer needed
Reconcile bank accounts and work with transactions and statements
Integrate payment platforms such as PayPal and Square

Key Takeaways

The course covers setting up a company's finances for banking by reviewing the bank feed, creating transfers, and reconciling the feed.
Learners download transactions and disconnect bank feeds when they are no longer needed.
The course shows how to work with different bank registers.
Payment platforms such as PayPal and Square can be integrated within QuickBooks banking.

Frequently Asked Questions

What does this QuickBooks Banking course cover?

It covers setting up your company's finances for banking by reviewing your bank feed, creating transfers, and reconciling your feed. It also covers downloading transactions, disconnecting bank feeds when no longer needed, working with different bank registers, and integrating payment platforms such as PayPal and Square.

What skills will I gain from this course?

The course develops skills in bank account management, banking, banking software, banking services, financial and business management systems, and accounts receivable/billing fundamentals.

What topics are taught in the lessons?

The lessons include Bank Registers, Bank Transfers, Setting Up Bank Feeds, Downloading Transactions, Disconnecting Bank Feeds, Reconciling Bank Accounts, and PayPal, Square, and Other Bank Accounts.

Does the course explain how to connect payment platforms?

Yes. It explores how to integrate payment platforms such as PayPal and Square.