Quickbooks Learn & Support Online (2023)

equity account: Help Understanding an Opening Equity Account

Not sure why she would create that account, when QB creates the opening balance equity account automatically.

Yes that account balance should be moved to owner equity, do that with a journal entry

debit opening equity, and credit owner equity

For a company taxed as a sole […]

Resolution for 'equity account issue: 'Help Understanding an Opening Equity Account' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'Help Understanding an Opening Equity Account', click the link below:

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equity account: Entering W-2 Income and Taxes for Single Member LLC

Make a deposit and enter the gross amount as income. Drop down a line and enter the taxes withheld as a negative amount. Total deposit will be your net check.

Note: Estimated tax payments would usually be recorded as a reduction in your capital account since it is not a business […]

Resolution for 'equity account issue: 'Entering W-2 Income and Taxes for Single Member LLC' available: Yes.

(Video) How to use QUICKBOOKS ONLINE (2023)

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'Entering W-2 Income and Taxes for Single Member LLC', click the link below:

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equity account: Owner’s Equity account just keeps going into the negative?

Yes, the draw account is an ongoing record of funds taken from the business.

Yes, the draw account is an ongoing record of funds taken from the business.

Resolution for 'equity account issue: 'Owner’s Equity account just keeps going into the negative?' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'Owner’s Equity account just keeps going into the negative?', click the link below:

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equity account: How do I bring a personal checking bank account to zero.

To clear this negative which represents owner contribution you can perform a deposit […]

Resolution for 'equity account issue: 'How do I bring a personal checking bank account to zero.' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

(Video) QuickBooks Online Complete Tutorial

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'How do I bring a personal checking bank account to zero.', click the link below:

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equity account: What accounts can i move the opening balance equity account?

If you create an item with qty and cost, then yes that cost posts to OBE be default in QB.

OBE is an account intuit created so it did not have to deal with equity distribution in multi owner businesses. After all starting balances are entered, then you clear OBE to […]

Resolution for 'equity account issue: 'What accounts can i move the opening balance equity account?' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'What accounts can i move the opening balance equity account?', click the link below:

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equity account: How to register – in XX company – stocks my partners and I bought from the same – XX company.

“I […]

Resolution for 'equity account issue: 'How to register – in XX company – stocks my partners and I bought from the same – XX company.' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'How to register – in XX company – stocks my partners and I bought from the same – XX company.', click the link below:

(Video) QuickBooks Online: The Complete Tutorial by Hector Garcia CPA

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equity account: How do we transfer/convert OOP expenses to Owner’s Equity Cash Contribution account?

thanks for writing to us via the community forum. Kindly refer to attached screenshot. This is how we can record an expense incurred made by the business owner’s equity account

This is done via theExpense function which can be located under the ” + ” sign

In summary, the expense amount is […]

Resolution for 'equity account issue: 'How do we transfer/convert OOP expenses to Owner’s Equity Cash Contribution account?' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'How do we transfer/convert OOP expenses to Owner’s Equity Cash Contribution account?', click the link below:

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equity account: How do I enter dividends I take from the company

You would create an equity account in your Chart of Accounts called Dividends Paid. Every time you allocate the transaction you would choose this account. This would also be an Out of Scope tax item as th default tax setting.

Let me know if you need step by step instructions to […]

Resolution for 'equity account issue: 'How do I enter dividends I take from the company' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

(Video) Quickbooks Basics: How To Use Quickbooks Online 2022

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'How do I enter dividends I take from the company', click the link below:

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equity account: Can I include Expenses for Reimbursement to Owner in Owner Investment and Can Owner Draw Exceed Equity?

1) When I spend personal money (e.g., business flight business hotel) can I record that in the Investment equity register and set the account to the appropriate Expense account, simply reimbursing it later through another Draw and having it show up in the Expense account that I indicated on my […]

Resolution for 'equity account issue: 'Can I include Expenses for Reimbursement to Owner in Owner Investment and Can Owner Draw Exceed Equity?' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'Can I include Expenses for Reimbursement to Owner in Owner Investment and Can Owner Draw Exceed Equity?', click the link below:

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equity account: Advice needed on setting up company

The settings in Qb 2016 are for first month of financial year which you should set to June and First month of Tax year which you can set for August but in UK version has no function.

Set this way you can set the Vat period end dates as May/Aug/Nov/Feb which […]

Resolution for 'equity account issue: 'Advice needed on setting up company' available: Yes.

The equity account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the equity account issue yourself by looking for a resolution described in the article. If it is a complex equity account issue or you are unable to solve the issue, you may contact us by clicking here or by using other equity account support options.

For more information about resolving issues related to equity account in Quickbooks/QBO or to get support for the issue 'Advice needed on setting up company', click the link below:

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(Video) Introduction to QuickBooks Desktop (2022 Full Tutorial Upload)

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FAQs

Can I learn QuickBooks Online for free? ›

QuickBooks Online Certification trainings and exams are free to accounting pros and available in QuickBooks Online Accountant. Gain skills to better service your clients while earning credentials that keep your practice growing.

Is QuickBooks Online being phased out? ›

What does service discontinuation mean? Your access to QuickBooks Desktop Payroll Services, Live Support, Online Backup, Online Banking, and other services through QuickBooks Desktop 2020 software will be discontinued after May 31, 2023. This also means you won't receive critical security updates starting June 1, 2023.

Does QuickBooks Online Support classes? ›

Learn how to use classes to track income, expenses, or profitability by business segment. You can do this in QuickBooks Online Plus and Advanced. Get specific insights you need to plan ahead. Use classes to track your transactions by departments, product lines, or any other meaningful segments in your business.

Can I learn QuickBooks on my own? ›

QuickBooks Training

You can also receive instructions in accounting or payroll basics. If you have a busy schedule, you can sign up for the self-paced online video training. Once you have received the videos, they are yours indefinitely so that you can learn at your own pace.

Can I learn QuickBooks in one day? ›

Regardless of skill level or familiarity with QuickBooks, you will develop skills that empower you to work smarter and faster. Our one-day overview class provides students with an understanding of the environment, basic company set-up, how to work with lists, chart of accounts and bank accounts.

How long does it take to learn basic QuickBooks? ›

Students can gain the necessary skills to pass the exam via QuickBooks training online. QuickBooks certification can take as little as 2-3 weeks, including courses and testing.

How much does it cost to learn QuickBooks? ›

About Intuit QuickBooks

Time to complete this education training ranges from 1 hour to 3 months depending on the qualification, with a median time to complete of 24 hours. The cost to attend Intuit QuickBooks ranges from $50 to $1,500 depending on the qualification, with a median cost of $400.

How much does a QuickBooks course cost? ›

Pricing & Plans
Live ClassesVIP Membership (Self-paced)
Fees$679.95 for the first attendee; $250 off on each additional attendee$679.95 (one-time fee), plus $29.95/month to maintain live services (optional)
Duration2 Days200+ Hours
Access to Instructor
Industry-specific Courses
2 more rows
10 Aug 2022

Do I have to buy a new version of QuickBooks every year? ›

You can purchase QuickBooks Premier Plus or have access to built-in payroll with QuickBooks Premier Plus + Payroll. Both plans are billed annually. Your annual subscription to either plan includes automated data recovery and backups, unlimited customer support, and automatic updates.

Will QuickBooks still work after subscription expires? ›

You can still access the file even if you'll not restore your subscription. But you'll be unable to continue receiving the security updates and online services, such as the following: QuickBooks Desktop Payroll Services. Live Support.

Why QuickBooks is shutting down? ›

Damaged or missing QuickBooks components, incomplete or improper installation, and damaged program files can cause QuickBooks 2022 shuts down randomly.

Which QuickBooks course is best? ›

The Best QuickBooks Online Classes
  • Simon Sez IT. ...
  • Intuit QuickBooks Training (Self-Paced Training) ...
  • Fit Small Business. ...
  • Hector Garcia. ...
  • BookkeepingMaster. ...
  • QuickBooks Online Essential Training. ...
  • Udemy‚ The Ultimate QuickBooks Pro Training Bundle – 65+ Hours. ...
  • 5 Minute Bookkeeping.
16 Feb 2021

How many levels of classes are there in QuickBooks? ›

QuickBooks Online only allows nesting of classes up to five (5) levels deep. You'll get the said error message when you go beyond that limit.

How long is QuickBooks Online certification good for? ›

QuickBooks Desktop Advanced Certification: Once you complete the QuickBooks Desktop Advanced Certification exam, you never need to take it again, and you remain Advanced Certified as long as you maintain your annual QuickBooks Desktop Certification and complete the required nine CPE credits of ACE-approved training ...

Is QuickBooks exam hard? ›

My impression of the test is that it was appropriately difficult, but it wasn't so hard that you couldn't pass it with the training provided. In order to pass, you do need to have a definite knowledge of QuickBooks and do the required training in the course.

Is QuickBooks a hard class? ›

Is QuickBooks Hard to Learn? For individuals new to the software and the accounting profession, QuickBooks can present a bit of a learning curve. Employees who are familiar with accounting concepts and similar software, however, may find that QuickBooks is relatively easy to learn.

Which is easier Excel or QuickBooks? ›

QuickBooks Online is much easier to set up and use than Excel, which requires some knowledge of formulas. QuickBooks Online is a double-entry accounting system that automates most processes, saving time. You'll need a thorough understanding of bookkeeping systems to customize Excel to keep your books.

Is there a practice version of QuickBooks? ›

Do you want to try out a new workflow? Is there a new accountant tool you want to learn? Use a demo QuickBooks Online client company to try things out. This lets you practice and use tools with sample client data, rather than the real thing.

What should I do first in QuickBooks? ›

Getting Started in QuickBooks Online
  1. Enter your Company Information.
  2. Designate your fiscal year start date.
  3. Choose your accounting method: cash or accrual.
  4. Select your accounting currency.
  5. Select your company logo.
  6. Set your default "Net Payment" invoice terms.
  7. Set Up Sales Tax.
12 Nov 2021

Is there a QuickBooks for Dummies? ›

QuickBooks makes it quick to do your books, and QuickBooks 2022 All-in-One For Dummies makes it easy. The leading small business accounting software will become your best friend, helping you cut costs (no more expensive financial services) and save time, with all your accounting and payroll info in one place.

Do you need to be an accountant to learn QuickBooks? ›

No need to be a certified accountant to become a QuickBooks ProAdvisor. As long as you complete and pass the ProAdvisor training, then you'll be qualified as one.

How much is a 1 year subscription to QuickBooks? ›

QuickBooks Desktop Enterprise
Plan namePrice
SilverStarts at $1,340/year for one user.
GoldStarts at $1,740/year for one user.
PlatinumStarts at $2,140/year for one user.
DiamondStarts at $4,200/year for one user (only offered as a monthly subscription).
11 Aug 2022

What is the simplest version of QuickBooks? ›

QuickBooks Simple Start is the easiest and quickest way for single users (freelancers, gig workers, solo entrepreneurs) to manage all of their income and expenses in one simple tool.

How much should I pay someone to do QuickBooks? ›

Rates typically charged by Intuit QuickBooks specialists on Upwork are: Beginner: $15 per hour. Intermediate: $19 per hour. Advanced: $30 per hour.

How much do QuickBooks bookkeepers make? ›

Average QuickBooks Bookkeeper yearly pay in the United States is approximately $56,885, which is 25% above the national average.

How much can you make being QuickBooks Certified? ›

While ZipRecruiter is seeing annual salaries as high as $84,000 and as low as $23,500, the majority of Quickbooks Proadvisor salaries currently range between $36,000 (25th percentile) to $51,000 (75th percentile) with top earners (90th percentile) making $65,500 annually across the United States.

How long does QuickBooks certification last? ›

How often to recertify for each QuickBooks Certification. You need to recertify every year by June 30 to maintain your QuickBooks Online certifications.

How much does it cost to upgrade QuickBooks to 2022? ›

Thank you for posting, @DebP59725. QuickBooks Desktop (QBDT) Pro Plus 2022 annual subscription starts at $349.99/yr.

How much is the annual subscription for QuickBooks Pro 2022? ›

QuickBooks Pro Plus 2022 costs $349.99 annually for one user. You'll need to pay another $200 for each additional user (up to three). QuickBooks Premier Plus 2022 is $549.99 per year. Additional users are $300 each for up to five users.

Is QuickBooks 2022 subscription only? ›

Intuit has announced changes to QuickBooks Desktop for 2022. Most notably, Intuit will now only be selling its Pro, Premier, and Mac products as Pro Plus, Premier Plus and Mac Plus subscriptions.

Is there a better option than QuickBooks Online? ›

Here are the best QuickBooks alternatives, each with its own differentiating features and use cases: Zoho Books: Best overall QuickBooks alternative with an outstanding mobile app. Xero: Best for unlimited users. Sage 50cloud: Best QB Desktop alternative for multi-company bookkeeping.

What is the cheapest way to buy QuickBooks? ›

The cheapest QuickBooks Online plan is the Self-employed plan. It's available for just $15 per month. However, it only supports a single user and is designed mainly for freelancers.

What do I need to do at the end of the year in QuickBooks? ›

Get ahead of your team and client's last-minute tasks in QuickBooks with this year-end checklist.
  1. Use your accountant tools. ...
  2. Write off uncollectible debts. ...
  3. Set up default dates for reports. ...
  4. Correct miscategorized transactions. ...
  5. Prep payroll for year-end. ...
  6. Complete reconciliations. ...
  7. Make account balance adjustments.

Will there be QuickBooks 2022? ›

QuickBooks Desktop 2022 introduces several features to help automate and streamline your daily accounting tasks. Here's what features are included in the QuickBooks Desktop 2022 release and how you can use them to benefit your business.

Can you continue to use QuickBooks without a subscription? ›

If you're in the market to upgrade your QuickBooks Desktop application or maybe even waiting to purchase QuickBooks 2022, it may seem like you can only purchase a subscription plan. However, many are unaware that you can purchase QuickBooks Desktop as a standalone application without having to pay a subscription fee.

Do people still use QuickBooks? ›

QuickBooks is the accounting software of choice for more than 29 million small businesses in the U.S. They have over 80% market share and have a diverse product offering suited to help both small businesses (QuickBooks Online) and larger growing companies (QuickBooks Enterprise) and everything in between (QuickBooks ...

Is QuickBooks better than an accountant? ›

The great advantage of using accounting software like QuickBooks is that it makes it easy to stay on top of your business finances. However, expert accounting help is still advisable for most businesses. Why? To get peace of mind from someone who understands tax and accounting regulations inside-out.

What are examples of classes in QuickBooks? ›

Businesses with different departments or locations can use classes to report account balances for each department. For example, if you had a restaurant with three locations, you might create an Uptown, a Midtown and a Downtown class for tracking account balances by location.

What types of QuickBooks certifications are there? ›

If you choose the VIP Membership, you receive training and vouchers for 3 certifications - QuickBooks Online, QuickBooks Desktop, and the Intuit Certified Bookkeeping Professional certifications.

What are the two types of QuickBooks? ›

QuickBooks offers different versions of its products with varying functionality and tiered pricing to cater to a wide range of user requirements and situations while not overwhelming small business owners and freelancers. Two key options are QuickBooks Online (QBO) and QuickBooks Self-Employed (QBSE).

What is the easiest way to learn QuickBooks? ›

Learn QuickBooks
  1. Video tutorials. Watch step-by-step videos to learn your way around QuickBooks. Explore videos.
  2. Webinars. Start with the basics. Try a 1-hour webinar with an expert to get familiar with QuickBooks. ...
  3. Tutorials & Videos. Learn more about QuickBooks by watching our instructional videos. Find a training class.

Can you get QuickBooks certification for free? ›

QuickBooks Online Certification trainings and exams are free to accounting pros and available in QuickBooks Online Accountant. Gain skills to better service your clients while earning credentials that keep your practice growing.

How many questions is the QuickBooks Online certification test? ›

There are two versions of the QuickBooks Certified User certification exam: QuickBooks Certified User Online and QuickBooks Certified User Desktop. Both versions of the exam have a 50-minute time limit. The Desktop version has 47 questions, while the Online version has 50 questions.

How long does it take to learn QuickBooks Online? ›

Students can gain the necessary skills to pass the exam via QuickBooks training online. QuickBooks certification can take as little as 2-3 weeks, including courses and testing.

How do I start QuickBooks Online from scratch? ›

Getting Started in QuickBooks Online
  1. Enter your Company Information.
  2. Designate your fiscal year start date.
  3. Choose your accounting method: cash or accrual.
  4. Select your accounting currency.
  5. Select your company logo.
  6. Set your default "Net Payment" invoice terms.
  7. Set Up Sales Tax.
12 Nov 2021

How much can you make being QuickBooks certified? ›

While ZipRecruiter is seeing annual salaries as high as $84,000 and as low as $23,500, the majority of Quickbooks Proadvisor salaries currently range between $36,000 (25th percentile) to $51,000 (75th percentile) with top earners (90th percentile) making $65,500 annually across the United States.

Should I learn QuickBooks or Excel? ›

QuickBooks Online is much easier to set up and use than Excel, which requires some knowledge of formulas. QuickBooks Online is a double-entry accounting system that automates most processes, saving time. You'll need a thorough understanding of bookkeeping systems to customize Excel to keep your books.

Is QuickBooks Online hard to use? ›

Learning to use QuickBooks is easy for someone familiar with accounting concepts and how the accounting software works, but it can be hard for someone tech-challenged or with no bookkeeping knowledge. While Intuit, the company behind QuickBooks, markets QuickBooks as ready to use – it all depends on the end-user.

Do you have to pay a yearly fee for QuickBooks? ›

QuickBooks Desktop products are offered on an annual subscription basis. Unlike QuickBooks Online plans, which each come with a set number of users, QuickBooks Desktop plans come with one user license. Business owners must pay extra for each additional license, regardless of plan.

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4. QuickBooks Online Tutorial: QuickBooks Online for Beginners - 3+ Hours!
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5. QuickBooks Online in 6 Minutes (Review & Tutorial)
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