[0:00] QuickBooks has some useful settings to help you keep track of your sales. Let's go over the options and settings so you can decide what QuickBooks tracks when you record a sale, turn on time saving features like automated late fees for unpaid invoices, and customize your messages to customers. To get started, go to settings and select Account and Settings then Sales.

[0:22] Let's start in the Sales form content section. Click the pencil icon to edit this section. Here you can select which additional info you'd like in your form when recording a sale. For example, if you charge customers for shipping, or track shipping addresses, toggle on ""Shipping." Not all businesses need to track this info, so they're not on by default.

[0:44] Make sure you're tracking everything you need to get the most out of your sales data. If you always give all of your customers the same number of days to pay their invoices, enter it in the Preferred invoice terms field. And if you always want your sales to be printed or emailed in a batch after recording them, choose that option in the Preferred delivery method section.

[1:08] QuickBooks will remember these as your default settings, so you don't have to. In the Products and Services section, you choose how to track the things you sell or services you provide. Nearly every business tracks specific products or services on sales forms. If you need to keep track of specific information, like a Stock Keeping Unit, toggle on the Show SKU column.

[1:31] If you keep an inventory of products and track quantities in QuickBooks, toggle on these options. These features are only allowed in QuickBooks Online Plus and Advanced. You can skip this if you only sell services. Here's a unique feature in QuickBooks. Price rules lets you set up automatic price changes based on the date of the sale or the type of customer you're charging.

[1:55] Do you create estimates for customers and then charge them multiple times as work is completed on a job? Make sure you turn on the Progress Invoicing feature. You can also personalize your communications with customers. Use the Messages section to customize your emails to customers. Also, if you'd like to receive a copy of messages you send to customers, check this box.

[2:19] You can also customize the message QuickBooks sends to customers to remind them of unpaid balances. Delivery options let you choose how much detail to include on emailed invoices and sales receipts... and whether or not you include a PDF record of the sale in your emails.

[2:37] Last, if you send statements to your customers, you can choose whether or not to list each product and service they've been charged for... and whether or not to include how overdue they are on old invoices. Now you're ready to set up your own sales settings.

[0:00] QuickBooks has some great features to help you keep track of your expenses. Let's go over the options and settings that let you see your profitability from different angles, such as by project or for your business overall. We'll go over your options for tracking expenses and also turn on purchase orders. To get started, go to Settings and select Account and Settings, then Expenses.

[0:24] These are all your expense settings. Showing the Item Table on expenses is only needed if you're using QuickBooks to manage your inventory and want to mark an expense, bill, or check as an inventory purchase. Toggle on this setting to track expenses per customer or project. This is a great feature if your business works on a project basis.

[0:46] And if you do, see the video at the end to learn more about tracking your expenses and profitability by project and how to work off an estimate. This lets you measure the profitability of your customers and projects. Toggle this feature on to charge customers for expenses related to the work you're performing for them.

[1:07] If you want to charge customers a markup on expenses, check this box and enter your default markup rate. Note that you can change this later when recording the expense. By default, when customers repay you, it's tracked as income so that you can see both the reimbursement and the original expense on your statements. If you check this box, QuickBooks tracks it all with the same expense account.

[1:32] So when you spend the money, the expense account will go up, and when you're repaid, it will go back to zero so that you won't see any effect on your financial statements. Last, if you charge sales tax on billable expenses, check this box here. Note that this is pretty rare. If most of your vendors give you the same amount of time to pay bills, use this field to choose the most common Terms.

[1:56] That way, anytime you enter a new bill, QuickBooks will automatically enter the terms and save you some time. Use this toggle to turn on purchase orders. These let you send orders to your vendors. You can also customize your purchase order numbers and customize the email message you send with purchase orders. Now let's see where these settings show up.

[2:19] Select the Create button, and now you can record purchase orders. Also, there's a place on Expenses, Checks, and Bills to record which customer or project you spent money on. There's also a link to show you how to make expenses billable at the end of this video if you want more help. Now you're ready to customize your own expense settings.

[0:00] QuickBooks Payments lets you accept online, in-person, and keyed-in payments inside QuickBooks Online, so you get paid faster and your books stay up to date. In this video, we'll walk through how to activate payments, verify your business info, and manage your payment settings. To get started, select the gear icon, then Account and settings. Open the Payments tab.

[0:22] If you already use Merchant Services or the GoPayment app, select Connect your payments account to link it. To activate a new account, select Activate payments. First, verify your information. Enter your legal business name, the last four digits of the business owner's social security number, and the owner's phone number.

[0:43] Select Continue with autofill to let QuickBooks pull in your business details, or Enter info manually. Next, review your information. Confirm your business details. Use the toggle to add a DBA if your business goes by a different name. Then enter the owner's information. When everything looks right, select Save and continue. Last, choose where to deposit your funds.

[1:08] If a bank account is already linked, select it to use the same account. To use a different bank, select Add a bank account. Review the terms, then Complete set up. QuickBooks reviews your information to get everything ready. Once approved, you'll see a confirmation that Payments is ready to go, along with quick links to send an invoice or create a payment link.

[1:31] You'll also get an approval email summarizing what you can do with QuickBooks Payments and any additional tools you're approved to use, like QuickBooks Bill Pay and QuickBooks Business Network. After activation, manage your account anytime from the Payments tab in Account and settings.

[1:50] Here you can view your merchant details, deposit speeds, deposit account, monthly statements, and dispute protection coverage. To pass payment processing fees to your customers, from Account and settings, select Sales, then Invoice payments. Turn off your business payment methods to give customers the option to cover the fee when they pay by bank transfer.

[2:12] Now you're ready to accept payments and get paid faster in QuickBooks Online.