Welcome to the FitSmallBusiness free QuickBooks Online tutorials. Whether you are brand new to QuickBooks Online or could use a better understanding of the program, these tutorials are designed for you. FitSmallBusiness readers can receive up to 50 percent off their purchase of QuickBooks Online.
QuickBooks Online Tutorial: What’s Covered
Our course starts at the very beginning with setting up QuickBooks for your business. We cover how to record your income and expenses, how to manage bank and credit card transactions and how to run financial statements. There are a total of 39 tutorials in our QuickBooks course spanning seven lessons. You should plan to invest at least two hours to complete the first lesson, which includes 15 video tutorials.
About half of the tutorials have an average runtime of five minutes or less, and the longest tutorial is 13:41 long. Each lesson has been broken down into bite-sized tutorials. Each QuickBooks tutorial includes a video where we demonstrate the concepts presented in each lesson.
How to Get the Most From Our Free QuickBooks Online Tutorials
One of the benefits of using accounting software like QuickBooks Online is you don’t need an accounting degree or a certified public account (CPA) license to use the program. While some basic bookkeeping knowledge would be helpful, it’s not required. In our free QuickBooks Course, we will teach you what you need to know so you can manage your books on your own.
The benefits of keeping good, accurate accounting records are:
- Organized income and expenses: Having your income and expenses all in one place will make it easy to provide your CPA with the info to file your taxes
- Ability to give your accountant/tax preparer access to your data: QuickBooks allows you to create a secure user id and password for anyone you want to give access to your data; you can also control if they can edit transactions or just view and run reports
- Access to up-to-date financial reports: Using QuickBooks will allow you to have access to financial statements when you need them; this can go a long way to secure a business loan or line of credit when you need it
Now that you know the benefits of maintaining your books, we will share a few tips on how you can get the most out of our free QuickBooks Online tutorial.
Three tips on how you can get the most out of our free QuickBooks Online Tutorials are the following:
- Use QuickBooks every day: The key to learning QuickBooks is to use it every day. Our course is designed for you to watch three videos a day and, by the fifth day, you will have completed all 15 videos. Best of all, you can have your QuickBooks file open and mimic what you see in each video tutorial with your own data.
- Ask questions: To deepen your knowledge and understanding, jot down your questions and post them in our FitSmallBusiness forum. I respond to questions from hundreds of small business owners like you on a daily basis, so join the conversation.
- Start at the beginning: This course was designed for brand new QuickBooks users, with each topic building on the previous one. Unless you are a seasoned QuickBooks users, I recommend that you begin with Lesson 1, and complete the course in the order it is presented.
Our free QuickBooks Course consists of seven lessons.
Lesson 1: Setting Up QuickBooks
In this lesson, you will learn how to set up key areas of QuickBooks like bank and credit card accounts, invoice templates, products and services, and the chart of accounts. By the time you complete this QuickBooks online tutorial, you will be ready to start using QuickBooks to manage all of your income and expenses.
The features and settings that you will make decisions for in this lesson will affect every area of QuickBooks. For example, setting up the default payment terms for customer invoices and vendor bills as well as turning on inventory quantity and cost tracking are just a few examples of what takes place in this lesson.
The Setting Up QuickBooks lesson includes the following tutorials:
Tutorial 1: How to Set Up Company Information (5:24 video watch time)
Tutorial 2: How to Customize Invoices, Sales Receipts & Estimates (5:40)
Tutorial 3: How to Set Up Invoices, Sales Receipts & Estimates (5:57)
Tutorial 4: How to Set Up Products and Services (3:55)
Tutorial 5: How to Set Up Messages (2:37)
Tutorial 6: How to Set Up Statements (2:13)
Tutorial 7: How to Set Up Expenses (5:56)
Tutorial 8: How to Set Up Advanced Settings (9:31)
Tutorial 9: How to Import Bank Transactions (12:26)
Tutorial 10: How to Import Credit Card Transactions (10:21)
Tutorial 11: How to Set Up Multiple Users (13:01)
Tutorial 12: How to Set Up the Chart of Accounts (6:36)
Tutorial 13: How to Set Up the Products and Services List (10:01)
Tutorial 14: How to Set Up Customers (13:41)
Tutorial 15: How to Set Up Vendors (12:41)
Lesson 2: Managing Sales and Income in QuickBooks Online
This lesson covers how to record your sales and track your income in QuickBooks Online. In QuickBooks, there are two types of sales: credit sales and cash sales. By the end of this lesson, you will be able to keep track of your credit sales by creating invoices for your customers and sending them via email.
In addition, you will also learn how to apply payments to outstanding invoices so that your accounts are up-to-date. Learn how to stay on top of unpaid invoices by reading our Ultimate Guide on the Accounts Receivable Aging Report. In this QuickBooks tutorial, we will also show you how to create sales receipts to keep track of your cash sales.
The Managing Sales and Income in QuickBooks lesson includes the following tutorials:
Tutorial 1: How to Create Estimates (Quotes or Bids) (9:26 video watch time)
Tutorial 2: How to Create and Send Invoices (8:00)
Tutorial 3: How to Receive Payment (5:51)
Tutorial 4: How to Create & Send Sales Receipts (7:01)
Lesson 3: Managing Bills and Expenses in QuickBooks Online
This lesson covers how to manage your bills and record expenses in QuickBooks. If you’ve been in business long enough, you know that it doesn’t matter how much sales you have if you don’t learn how to manage your expenses. By the end of this QuickBooks tutorial, you will be able to keep track of expenses in a couple of ways.
First, you can write and print checks directly from QuickBooks to pay for expenses that require immediate payment. Second, you will be able to manage what you owe to vendors who have extended payment terms to you.
The Managing Bills and Expenses in QuickBooks lesson includes the following tutorials:
Lesson 4: Managing Banking Transactions in QuickBooks
By the end of this lesson, you will be able to manage all of your downloaded banking transactions. You will also understand how to enter basic banking transactions manually. Finally, you will be able to use the reconcile tool to ensure that the transactions on your bank statement match up with what has been entered into QuickBooks. This will result in up-to-date financial statements.
The money that flows into your business in the form of sales and out of your business in the form of expenses will eventually end up going through your business bank account. In Lesson 1, Tutorial 9, we walked through how to import your banking transactions into QuickBooks.
The Managing Banking Transactions in QuickBooks lesson includes the following tutorials:
Tutorial 1: How to Manually Enter Banking Transactions (7:17 video watch time)
Tutorial 2: How to Manage Downloaded Banking Transactions (9:47)
Tutorial 3: How to Record Bank Deposits (4:22)
Tutorial 4: How to Transfer Funds Between Bank Accounts (3:51)
Tutorial 5: How to Handle Bounced Checks from Customers (6:57)
Tutorial 6: How to Process Bank Reconciliation (15:31)
Lesson 5: Managing Business Credit Card Transactions in QuickBooks
By the end of this lesson, you will be able to track your credit card purchases in QuickBooks and reconcile them with your credit card statement to ensure that they match. This will result in up-to-date financial statements.
A business credit card can be a great way to establish business credit. Similar to banking transactions, you can connect your credit card to your QuickBooks Online account so that your credit card purchases will automatically download into QuickBooks.
The Managing Business Credit Card Transactions in QuickBooks lesson includes the following tutorials:
Tutorial 1: How to Manually Enter Business Credit Card Transactions (8:42 video watch time)
Tutorial 2: How to Manage Downloaded Business Credit Card Transactions (14:04)
Tutorial 3: How to Enter a Credit Card Refund (4:00)
Tutorial 4: How to Reconcile Business Credit Card Accounts (14:37)
Lesson 6: Managing Credit Card Sales in QuickBooks
By the end of this lesson, you will be able to manage credit card sales if you have an Intuit Payments account that is integrated into QuickBooks. You will also be able to manage your credit card sales if you use a third-party credit card processor.
To make payment convenient for your customers, you should consider accepting credit card payments. By accepting credit card payments, you will need to understand how to reconcile those transactions, which is what we are going to cover in this lesson.
The Managing Credit Card Sales in QuickBooks lesson includes the following tutorials:
Tutorial 1: How to Manage Credit Card Sales with Intuit Merchant Services (12:59 video watch time)
Tutorial 2: How to Manage Credit Card Sales with a 3rd Party Credit Card Processor (10:39)
Lesson 7: Reporting in QuickBooks Online
By the time you complete the following QuickBooks tutorial, you will understand the importance of five key reports and how to create them in QuickBooks. This includes the profit and loss report, balance sheet report, statement of cash flows and accounts receivable and accounts payable aging reports.
One of the primary purposes of using bookkeeping software like QuickBooks Online is so that you can determine the health of your business at any given point in time. Having the ability to produce solid, accurate financial statements can benefit you in the following ways:
- You could gain potential investors
- Give you the ability to secure a business loan or line of credit
- Provide info that will help you determine if you should sell a new product or service or drop one that is not doing so well
The Reporting in QuickBooks lesson includes the following tutorials:
Tutorial 1: How to Run a Profit and Loss Statement (10:57 video watch time)
Tutorial 2: How to Run a Balance Sheet Report (8:26)
Tutorial 3: How to Run a Statement of Cash Flows (7:27)
Tutorial 4: How to Run an Accounts Receivable Aging Report (8:05)
Tutorial 5: How to Run an Accounts Payable Aging Report (6:29)
The Bottom Line
Now that you have completed our QuickBooks Online tutorials, you should be convinced that you don’t have to be a certified public accountant or have an accounting background to learn how to use QuickBooks. You should also know that QuickBooks is a much better solution than using a Microsoft Excel spreadsheet to keep track of your income and expenses.
If you haven’t already done so, sign up for up to receive a 50 percent discount on a paid QuickBooks subscription. There are no contracts which means that you can cancel your subscription if you change your mind.