This week we take an excerpt from the monthly QuickBooks User Group that was all about Money In. These 4 rules of Money In for your business work through the steps to keep money coming in and give you some common sense guidance on how to keep it simple.

Another round of PPP funding has been approved, but this one has a reduction in gross revenue threshold in order to be applied for.  This video shows you how to run a report that will show your gross revenues by quarter verses the same quarter in the previous year.  This will allow you to see the percentage change (at least 25% decrease) to determine if you qualify for applying for the new round of PPP funds.  Covering both the QB desktop and QB online process, this quick video will give you what you need as the first step for determining qualification.

Finally get rid of that annoying beep and other settings that may be keeping you from doing your most efficient work.  From date settings to pre-filled account preferences, one-time messages to leaving out the decimal point it can all be found in one spot and adjusted by YOU!  This video will show you how to review those settings and get QuickBooks desktop working the way you want it to!

In a cloud environment it's sometimes hard to know where uploaded documents are saved.  Be safe, rather than sorry, and learn how to export your attached documents out of QB Online to archive them for backup.  Also, learn where the documents attached in your QuickBooks Desktop file are saved on your computer to make sure your backup is capturing that folder.

The year is almost over and that means you need to be ready for reporting requirements that start in January!  Find out what's new for 2020 including information about the 1099-NEC and the most helpful form you will need to complete your 1099s this year.  See a demonstration on how to set up 1099 tracking in both QuickBooks desktop and QuickBooks online so you can be ready for the filing season.

https://www.irs.gov/pub/irs-pdf/fw9.pdf

https://www.irs.gov/instructions/i1099msc

Tackling the paper that is involved in the accounting process can be daunting.  Learn how to attach vendor bills inside of QuickBooks Desktop transactions for easy reference and organization.  

From time to time you may discover that you have multiple accounts tracking the same thing and it causes confusion when you are recording transactions.  Well, there is a little known trick within QuickBooks products that allows you to merge two accounts which retains all of the details of the transaction, but combines them into the correct account.  This tool can be considered a life saver!  Watch the video to learn how to merge accounts in QB Desktop and QB Online.

This excerpt is taken from the Steering Your Business through COVID-19 series, Part 5 during which I walk business owners through the accounting issues relating to the PPP Loans granted through the CARES Act.  The video addresses how to set up the loan accounts in both QuickBooks desktop software and QuickBooks Online.