Year-end guide for QuickBooks Online

Run reports to find issues and check for discrepancies. Here's how.

1. Follow this link to complete the steps in product
2. Select Management reports, then select + Management report.
   a. Enter a name in the Management report name field.
   b. Fill out the info as needed.
3. Select Reports and charts.
4. Select Balance Sheet from the Report ▼ dropdown.
   Note: A title in the Report title field appears. You can edit this title.
5. Select a date range in the Report period field. Select REPORT.
6. Select Report from the Add ▼ dropdown. 
7. Select Profit and Loss from the  Report ▼ dropdown.
   Note: A title in the Report title field appears. You can edit this title.
8. Select a date range in the Report period field. Select REPORT.
9. Select Save and Close.

Note: Your net income may not match what you see in your reports. Find out its causes and how to fix them.

You can check and run other reports you need. You can also create a management report to see how much money you’ve made.

These help you record all your payments in the correct bank register. 

• Review all outstanding bank deposits from your deposit queue.
• Check your undeposited funds account for payments that may still be there.
• Create bank deposits for any payments from your undeposited funds account. 

Note: QuickBooks adds undeposited funds to your income. You still need to record the bank deposit. This helps track payments and deposits.

You can run reports to check your customer’s account balances. 

Note: You can find these reports in QuickBooks Online Advanced, Plus, and Essentials.

1. Follow this link to complete the steps in product
2. Find the Accounts receivable aging summary report or Accounts receivable aging detail report. You can either:
   a. Enter the name of the report in the Type report name here field.
   b. Or, select > Who owes you.
3. Review the report and check for outstanding balances.
   Note: If you find outstanding balances, send a statement to your customer.

You can run reports to check your vendor’s account balances.

Note: These reports are available only in QuickBooks Online Advanced, QuickBooks Online Plus, and QuickBooks Online Essentials.

1. Follow this link to complete the steps in product 
2. Find the Accounts payable aging summary report or Accounts payable aging detail report. You can either:
   a. Enter the name of the report in the Type report name here field.
   b. Or, select > What you owe.Review the report, then check for any outstanding bills.
3. Review the report, then check for any outstanding bills.
   Note: You can make bill payments to settle any outstanding bills to your vendors.

Your accountant can help you distribute retained earnings among partners.

Set up an owner’s equity and draws account to track payments and withdrawals over the year.

Your accountant can help prepare and file taxes on your behalf.

You can also let your accountant review your accounts and reclassify transactions. They help you manage your transactions and organize your books.