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Level 1

Getting started with QBO

How do I get started? I'm working in a non profit service organization. We have a worked out a budget with revenue and expense categories. We have purchased a QBO subscription.  I have three bank accounts, and I have connected my QBO to the account that has the least amount of transactions so I can learn.  I guess my main question is, "How do I transfer all the divisions and categories and sub-categories from our budget into QBO?"   I think that I have to do this so I can associate the bank transactions to a grouping in our budget.  

3 Comments
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Moderator

Getting started with QBO

Welcome to QuickBooks Online, mellorjr.

 

When you mentioned about divisions, categories, and sub-categories, you might be referring to the Location and Class tracking features in QuickBooks Online. These feature are available in QuickBooks Online Plus and Advanced subscription. To know more about these features, you can browse these references:

These locations and classes can be assigned to transactions that you create in QuickBooks Online.

 

If you want to import the divisions, categories, and sub-categories from a third-party application, I'd recommend reaching out the third-party app's support team. They might have an option to import it to QBO. Otherwise, you'll have to create them manually in QBO. Then, assign it to the transactions.

 

Meanwhile, QuickBooks Online also have a budgeting feature which is also available in the Plus and Advanced subscriptions. You can use this link for reference to know more about budgeting: Create and import budgets into QuickBooks Online.

 

Then, you can manage your bank transactions properly once you've set up everything.

 

You can always get back to us if you have additional queries on how the program works. Have a great day!

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Level 1

Getting started with QBO

I’m still confused; we want to use QBO as our checkbook register for our bank account- but we also want to categorize each credit or debit in the register. For instance; if I write a check for a speaker I want it tier the categories first as Audio, then as Sound System, then as Speaker. So three tiers are reportable.

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QuickBooks Team

Getting started with QBO

Hello there, @mellorjr.

 

Let me share some information to help you track and organize your transactions in QuickBooks. 

 

First, you'd want to add your bank in QuickBooks. Here's how:

  1. Go to the Accounting menu.
  2. Choose the Chart of Accounts tab.
  3. Click the New button.
  4. From the Account Type drop-down, select Bank.
  5. Choose the Detail Type of the Account.
  6. Enter the Bank Account's information.
  7. Click Save and Close.

You can also connect your account to online banking. Once all your transactions are downloaded, you can review and categorize each debit and credit transactions. Aside from assigning a specific Class to it, you can add labels that let you track your money however you want. Let's first enable this feature in your account.

  1. Go to the Gear icon.
  2. Choose QuickBooks Labs.
  3. Toggle On the Tags feature.
  4. Click Done.

Now, you can manage your downloaded check payments. I've added this screenshot for your reference:

 

I've added these articles to learn more about how the Tag feature works:

Keep us posted here if you have questions about managing your transactions. I'm always here to help.

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