Customizing QuickBooks Online

Preview · ~35 min read · from QuickBooks Online Step-by-Step

# Summary of Customizing QuickBooks Online After reading this content, you will be able to configure QuickBooks Online to match your business operations by setting up sales tax agencies, creating products and services, and managing user access. The chapter covers essential setup tasks including configuring sales tax for multiple jurisdictions using the Sales Tax Center, establishing your Products and Services list to track what you sell and how it's taxed, and managing different item types such as inventory, non-inventory, and service items. You'll also learn how QuickBooks Online automatically calculates and applies sales tax on invoices based on customer location and item taxability, ensuring accurate tax tracking and reporting.

In this chapter

• Setting Up Sales Tax
• Adding State Agencies
• The Sales Tax Center
• Applying Sales Tax on Forms
• Setting Up Products and Services
• Product and Service Categories
• Service Items
• Non-Inventory Products
• Inventory Products
• Bundles
• Customizing Lists
• Implementing Custom Fields
• Activating Class Tracking
• Adding Users and Passwords
• Accounting Firm Users
• Do It Yourself

Chapter review: Customizing QuickBooks Online

11 practice questions. The answers are in the book.

1. You can create Custom Fields for:

   • Customers.
   • Transactions.
   • Vendors.
   • All of the above.

2. Which user type is responsible for the QBO subscription?

   • Primary User.
   • Company User.
   • Standard User.
   • Accountant User.

3. Classes are used for:

   • Getting training.
   • Grouping customers.
   • Tracking income and expenses by revenue stream.
   • Payment methods.

4. How many Users can be added to QBO Plus?

   • 3.
   • 5.
   • 25.
   • Unlimited.

5. Which does NOT have to be set up in order to calculate Sales Tax correctly?

   • Customers.
   • Products and Services.
   • The state you’re in.
   • Payroll Tax.

6. To add a new Sales Tax to the list:

   • See if QBO suggests any based on your company information.
   • Specify the states where you do business.
   • Add a new service item for each sales tax rate.
   • Either a or b.

7. You would like your customers to pay you within 15 days. What List would you open to start creating this option?

   • Customers.
   • Products and Services
   • Payment Methods.
   • Terms.

8. Where should you go to pay your Sales Taxes?

   • Write a check or enter a credit card expense.
   • The Sales Tax App.
   • Pay a bill.
   • The Bank Transactions feed.

9. The Payment Methods list:

   • Contains the forms of payment you accept from customers.
   • Contains the forms of payments you use for vendors.
   • Should be customized to reflect your business’s needs.
   • All of the above.

10. The types of Products and Services include:

    • Invoices, Sales Receipts, and Estimates.
    • Customers, Vendors, and Employees.
    • Inventory Asset, Cost of Goods, and Income.
    • Inventory, Non-inventory, Service, and Bundle.

11. What is the benefit of using Bundles on a sales form?

    • Save time in data entry.
    • Calculate quantities on several items at once.
    • Combine several Products and Services into one.
    • All of the above.