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Quickbooks training is going to be very important if you’re running a business. It is one of the most popular accounting packages to use. As a freelancer, you also may not be tracking your income and expenses. Keeping a set of accounts is going to be critical to running your business.
Assuming you’re paying taxes (which you should be doing), you’re going to have to be finding all your receipts and invoices to give to your accountant, during the tax season. If you use a tool like Quickbooks to keep track of your accounting, life will be much easier when tax time comes. It’s easy to use, even if you’re not an accountant.
Here we’ll look at some of the basics in using Quickbooks. It’s not as hard as you think. You may even already have it on your desktop or purchased an online version already.
1) Buy a copy for yourself
If you haven’t done this yet, make sure you download a copy on your computer. You can also purchase the online version. If you’re using the online version and you’re a freelancer, I’d recommend the Self-employed version. If you’d prefer the desktop version, then Desktop Pro would be the recommended version for you.
2) Learn how to use Quickbooks
If you want to learn the basics of Quickbooks, then you can find a number of tutorials on Youtube. If you want to go more in-depth, I’d go here. Apart from just learning the basics, it wouldn’t hurt to add Quickbooks to your list of skills if you have some accounting knowledge. You’ll be able to offer services to a wider variety of clients (aka more money). As a bookkeeper and a writer on Upwork, I’ve been able to work in several different areas because of my skill sets.
Picking a Quickbooks training program
When choosing a training program, they’re many online training tutorials. Focus on these 4 elements when choosing a video:
- Videos: Make sure they have videos to help with the training. Not all tutorials have videos as a part of the training.
- Support: Make sure the videos are supported by the make of the videos. Someone that’s suitably qualified to answer any questions that you might have is preferred. A CPA or other accounting professional would be such a person. Any other person might only be able to answer general questions.
- Current version: Make sure that the training is based on a current version of Quickbooks. Quickbooks makes minor changes in its software from year to year, so current or near current is best.
- Affordability: Some courses online are charging as much as $300. If you’ve just started business, this is pretty expensive.Why pay that when you can get quality training for a portion of that price.
The Basics of using Quickbooks
They’re three basics of Quickbooks that are very important for you to know.
- Bank reconciliation: As a business owner, if you don’t reconcile your bank account, you’ll definitely have problems with your checking account down the road. You won’t have what you think you have in your account. This will result in bounced cheques and a lot of other errors.
- Credit card reconciliation: Similarly to your bank account, credit card reconciliations are a must. You’ll want to make sure you don’t miss any expenses, so don’t miss out on this area.
- Entering and paying bills: Make sure you use this area to its full extent. Quickbooks will help you keep track of your bills and payments when you utilize this area.
Here we’ve gone through some of the basics of getting Quickbooks training. As a freelancer/businessman and QBO Proadvisor, I’d highly recommend it for your business.