QuickBooks questions—and the answers that follow them—can open up some pretty amazing features in your small business accounting software. Through face-to-face conversation with QuickBooks users—new and seasoned—we’ve compiled some common QuickBooks questions to ask—then answer.
With this article on 11 of the most common QuickBooks questions, we’ll answer the questions you have—and those you didn’t even knew you had. We’ll also add in screen caps and recordings of QuickBooks Online and other versions so that you can see these answers in living color.
Plus, in case we don’t cover all the QuickBooks questions you need answered, we’ll provide resources where you can go to get answers in real time.
Here are the answers to the 11 most common QuickBooks questions:
1. Can You Add Credit Card Accounts to Your QuickBooks Feed?
Most QuickBooks users are familiar with the concept of adding checking accounts to their QuickBooks bank feed. However, the prospect of adding credit card accounts to their QuickBooks bank feed often comes up in QuickBooks questions. Some users wonder if you can add credit card accounts at all, and others wonder how many credit card accounts you can add.
Fortunately, whatever subscription level of QuickBooks you have, you’ll be able to add as many bank accounts or credit card accounts as you need.
If you have other questions about attaching accounts and account limits for your subscription level, check out this QuickBooks product comparison.
2. How Do You Perform Transfers Between Accounts?
Many users ask QuickBooks questions about the mechanics of performing account transfers. More specifically, many QuickBooks users ask questions regarding which labels you should place on each account within the transfer. Many get confused about what combination of “Transfer” and “Match” labels you should apply in QuickBooks. When doing transfers between accounts in QuickBooks, do you mark one account “Transfer” and the other account “Match”? Or do you click transfer for both? Or do you click match for both? An account transfer can get confusing with so many different possibilities.
The best way to attack an account transfer is to first create a transfer in QuickBooks, as the below media demonstrate. Then, when that transfer comes through your bank feed, you can match it to the corresponding account.
Many QuickBooks questions ask about how customers can pay their outstanding invoices. When customers have multiple outstanding invoices, many business owners want to be able to send them a link through which they can pay their total balance, rather than just the amount of the most recent invoice. Unfortunately, there’s no automatic way to send a link to pay the total owed balance to a customer through QuickBooks. You will have to manually create a new invoice of their total outstanding balance, then void the previous invoices, to consolidate them.
4. How Do You Delete a Connected Bank Account?
QuickBooks questions from users also often deal with deleting an account. Namely, many users want to delete bank and credit card accounts when they close them so as to keep their QuickBooks interface tidy. Doing so is pretty easy, as you’ll see with these steps:
First, you want to make sure that you’ve matched and added all of the transactions that have been downloaded to the bank feed. While you’re in the bank feed screen, click the pencil icon for the account:
Then, you’ll click the button that reads “Edit account info”:
Now, check the box next to “Disconnect this account on save,” and last, click “Save and Close.”
5. Can I Upgrade QuickBooks Self-Employed?
As businesses grow, so do their accounting software needs. As a result, many owners of growing businesses wonder if you can automatically upgrade your QuickBooks account from Self-Employed to another, more powerful version of QuickBooks.
Unfortunately, there’s no automatic way for users to convert their data from a QuickBooks Self-Employed account to any version of QuickBooks Online.
6. Can You Edit Accountant Firm Users With QuickBooks Simple Start?
QuickBooks questions regarding accountant users usually have pretty simple answers—each subscription level of QuickBooks Online allows for two accountant firm users at any given time. This rule applies to Simple Start. If you have two users on your QuickBooks Simple Start account and want to add one, you’ll need to delete one of the accountant firm users before inviting another.
7. What Happens If You Cancel Your QuickBooks Account?
Many users wonder what happens to all of your data if you cancel you QuickBooks account. Well, when a user cancels a QuickBooks Online subscription, Intuit keeps the data for one year. Prior to canceling, you should export and/or print any necessary reports. You could even consider converting the data to a QuickBooks Desktop version for further accessibility. Know that, if you reinstate your account within a year after canceling it, QuickBooks will still have your historical data.
8. Why Don’t Manual Payroll Taxes Match Up With QuickBooks Liabilities?
Some business owners choose to pay their payroll taxes manually outside of their QuickBooks account. It’s only natural to compare the liabilities that QuickBooks shows in your account to the ones you actually had when you reconciled payroll. And, as a result, many business owners wonder why these figures don’t match up. Overall, the difference between these figures is generally a rounding issue, and users can just make the adjustment in QuickBooks accordingly.
9. Can Specialized QuickBooks Desktop Products Convert to QuickBooks Online?
Unlike QuickBooks Self-Employed, many specialty QuickBooks Desktop products, like QuickBooks Contractors edition, can be easily converted to QuickBooks Online. See Intuit guides to converting to QuickBooks Online from QuickBooks for Mac, Pro, any Premier Edition, or Enterprise Solutions.
10. Can You Create a Budget Sorted by Customer and Service Item?
Many QuickBooks users—old and new—want to know whether you can sort budgets by customer and by service item. In fact, many QuickBooks accounting experts want to be able to provide this kind of budget for their client. Nonetheless, you can only create a budget that’s sorted by customer, but you can’t sort it by item.
11. Can You Do Job Costing on QuickBooks Online?
You can do job costing in QuickBooks Online. Sort of.
You’ll need to have access to a QuickBooks Online Plus account and a good deal of patience. To create job costing in QuickBooks, you’ll have to assign labor costs to jobs with Journal Entries and create a workaround for a few crucial steps in the process. We’ve compiled a complete guide to job costing in QuickBooks Online, so be sure to consult that to get the full answer to this QuickBooks question.
More QuickBooks Questions to Ask? Here’s Where to Go
Didn’t get your QuickBooks questions answered in this article? Not to worry—there are tons and tons of QuickBooks training resources out there that can help you get answers. Plus, many of the best places for your QuickBooks questions will answer them for free.
If you have leftover QuickBooks questions that you need answers for, bring them to one of these three resources:
1. QuickBooks Community
QuickBooks Community is a forum on which accountants, QuickBooks users, and Intuit employees answer and discuss QuickBooks questions. Odds are that any QuickBooks question you have will already be answered ten times over on QuickBooks community, so it’s worth sifting through. And if you don’t find an answer to your QuickBooks question, you can create a new post to get answers that can help future QuickBooks users who have the same question as you.
2. QuickBooks ProAdvisor
If you have access to a QuickBooks ProAdvisor, then you should absolutely bring your QuickBooks questions to them. A QuickBooks ProAdvisor is a certified QuickBooks power user, so they should really be able to answer just about any QuickBooks question you can come up with whether concerning QuickBooks checks, profit and loss statements, or general reporting. If you want expert QuickBooks advice, or even just a constant source of useful answers for your questions, then we suggest you look into finding a QuickBooks ProAdvisor.
3. QBO Chat
Finally, you can look into QBO Chat for answers to your QuickBooks questions. QBO Chat is a community for accountants that also answers QuickBooks questions that even the newest of users could have. QBO Chat can keep you posted on QuickBooks updates and help you level up your knowledge with QuickBooks tutorials. Plus, QBO Chat offers month-long master courses that consist of live training sessions, and becoming a student allows you access to the group for an entire year. That means a year’s worth of QuickBooks questions, answered.
QuickBooks Questions: Some Final Thoughts
So, there you have it! Some of the most frequently asked Quickbooks questions, answered. Of course, we recognize that our list of answers to common QuickBooks questions is far from exhaustive. As QuickBooks and accounting itself continues to shift and change, new QuickBooks questions will come up. In which case, you should turn to the three resources we highlight above to access answers in real time. As you access information about any confusion you face while using QuickBooks, you’ll gradually start to become a QuickBooks aficionado. Before you know it, you’ll have no more QuickBooks questions left to answer and you may start exploring how to become QuickBooks certified.
Stacy Kildal is a contributing writer for Fundera.
Stacy Kildal is owner/operator of Kildal Services LLC—an accounting and technology consulting company that specializes in all things QuickBooks. From 2012 to 2017, Stacy has been named one of CPA Practice Advisor’s Most Powerful Women In Accounting.
Stacy is one of the three hosts for the QB Show and has also been featured frequently on Intuit’s Accountant Blog, Community “Ask the Expert” forums, at various Intuit Academy To Go podcasts, as well as hosting a number of Intuit Small Business Online Town Hall sessions.
She is a big fan of working mobile and has been recognized by Intuit as being an expert on QuickBooks Online, having written Intuit’s original courses for the U.S., Singapore and Canadian versions.