Simplify your client bookkeeping with QuickBooks Sole Trader

Learn more about the benefits of QuickBooks Sole Trader for accountants.

QuickBooks Sole Trader is designed to make managing transactions easier for your clients, saving you time and improving the accuracy of your clients’ books. It includes all the familiar tools you love from other QuickBooks plans, tailored specifically for sole traders.

In this article you’ll learn more about

• Accountant-only tools 
• Auto-categorisation 
• Filter transactions 
• Locking transactions
• Review and reclassify transactions

Access to accountant-only tools

As an acccountant, you’ll get access to exclusive features like accountant tools, reconciliation, chart of accounts, additional reports, and transaction review. You'll also have account registers, journal entries, and reconciliation history to help you keep on top of everything. 

Auto-categorisation 

In QuickBooks Sole Trader, transactions are automatically categorised into business and personal, then posted into the appropriate accounts. This saves you time on your clients' books and helps you keep track of reviewed transactions. You can also use the bulk edit feature to mark multiple transactions as reviewed at once.

Filter transactions 

You can using the filter function to view transactions by category, transaction type, date range, and bank account. Your clients will also have access to this function, providing them with a comprehensive overview of their financial activities.

To filter transactions:

1. Go to Transactions
2. Select Filter
3. Choose the Account, Date, Transaction type and Category 
4. Select Apply

Lock transactions

In QuickBooks Sole Trader, you'll find the 'close books' feature, which lets you lock transactions after you've reviewed them. This ensures that no further changes can be made.

To lock transactions before a certain date:

1. Select Settings
2. Select Account and settings
3. Select Advanced 
4. In the Accounting section, turn on Close the books
5. Set a Closing date, then Save

Once you set a closing date, transactions before that date will be locked. You can check which transactions are locked by going to the Transactions tab. 

Review and reclassify transactions

You’ll have access to review and reclassify directly from the transactions page. Make bulk changes so you can speed through reclassifying accounts.

To reclassify a transaction:

1. Go to Transactions
2. Select Bank Transactions 
3. Find the transaction you want to edit, and select the Category 
4. Select a new category to update