Category Archives: QuickBooks

QBO – Online Delivery Invoice

An invoice is an official document from the seller to the buyer. It can be:

  • Handwritten
  • Print from a word processor, spreadsheet, or accounting software
  • Digital copy (e.g. PDF)
  • E-invoice
  • HTML format (e.g. QBO’s Online Delivery)

Digital copy is to save the invoice into a digital format (e.g. PDF – Portable Document Format) and email it to the customer. Digital invoice has become common these days when most people are working from home. 

The e-invoice, on the other hand, refers to electronic invoicing. It is an electronic document created, exchange and process between businesses. The accounting software generates the invoice, send it to the e-invoice network (e.g. PEPPOL – Pan European Public Procurement On-Line) via the access point, and deliver it electronically to the customer. You may consider subscribing to Link4 (the e-invoice access point provider) if you are currently using QuickBooks Online (QBO). 

Online Delivery is a term used by QuickBooks Online to deliver an HTML formatted invoice via email. It tracks the progress from the moment the customer opens up the email to making payment. Although it is HTML formatted, the recipient can print a copy for filing, or you can consider attaching a PDF copy to benefit those who prefer to receive invoices in a traditional invoice format.

How to set up Online Delivery in QBO?

QuickBooks Online account and settings for Online Delivery Invoice

Sign in to your QuickBooks Online account, click on the Gear icon and select Account and Settings from the list. Then, go to the Sales tab and scroll down to the Online Delivery section to turn on the feature. 

Send an invoice.

Then, click on the Save and Send button on the invoice will email a copy of the invoice to the customer in HTML format. The invoice activity (e.g. when the customer has opened up the email) tracks at the bottom of the invoice.

QBO - Online Delivery Invoice
Online Delivery Invoice
QBO - monitor the invoice progress
Monitor the invoice progress

QuickBooks Online is a small business accounting software. Sign up for a demo to find out how to leverage cloud-based accounting software.

QuickBooks Online description and memo

Each detail line in the QuickBooks Online (QBO) transaction (e.g. Cheque or Bank Deposit) has a description box. The information in the description box tags to the ledger account (or item), and each line can have a different description. For example, when entering a cheque payment to staff:

Account

Payroll Expense

CPF Employer

Accrued CPF

Descriptions

Basic Salary for the month

17% Employer CPF

37% Accrued CPF

The memo box at the bottom of the transaction page serves a similar function as the description box; it provides more information about the transaction (e.g. the memo for the cheque payment to the staff could be ‘Salary for Jan 2021’).

QBO description and memo

So, what’s the difference between the description and the memo box?

The memo tags to the transaction header account (e.g. Bank, Accounts Receivable or Accounts Payable account), and the description is for the transaction detail account.

Let take a look at the cheque payment to the staff again. The journal behind the cheque is:
DR. Payroll Expense
DR. CPF Employer
CR. Accrued CPF
CR. Cash at Bank

You will notice that the memo information does not show in the detail line account (e.g. Payroll Expense or CPF Employer) but only at the Cash at Bank ledger (the transaction header account) when printing a General Ledger report.

QuickBooks Online General Ledger report

Switch over to QuickBooks Online

Simple, but yet could be challenging for some.

Switching over to new software, often, get overwhelmed by the rich features available; confused and wouldn’t know where to start.

Although QuickBooks Online (QBO) is a cloud-based accounting system, suppose to be easy to use, it may still be challenging for some. After entering the company name and selected the industry on the welcome page, what’s next?

Where to customise the invoice template, create the chart of accounts, update the products and services list, import the customer and supplier names, how to record the opening balances, etc.

Of course, help is readily available. There are QBO help articles and videos available on the official Intuit channel and non-official channel by blogger and YouTuber over the world. That’s the beauty of the World Wide Web; isn’t it?

Besides, you can also engage a QuickBooks consultant if you are still not comfortable, help you implement and shorten the learning curve. 

Here are a few steps for you to kickstart if you prefer to DIY (Do-it-yourself), set up your business finance in QBO.

QBO Gear icon

Gear icon. The gear icon will be the very first icon you click when using QBO. You need to set up your company preferences, such as the company address, insert logo, set up home currency (if you are using multiple currencies) and the first month of your financial year started from the accounts and settings page. Then, create the chart of accounts and update the products and services list; which you can find these lists under the gear icon too.

QuickBooks Online +New icon

+New icon is the place where you can find all the daily transactions such as invoice, receive payment, bill, cheque, journal entry, etc. It’s the most often visited area when using QuickBooks Online. Besides daily transactions, you record the opening balances, if any, via these transactions too.

QuickBooks is a form-based accounting system. Once you click on the save and close after creating an invoice, the system debit the accounts receivable and credit the sales automatically without needing to post a sales journal separately. The invoice emailed to your client automatically once you opt for online delivering sales form from the accounts and settings page.

QBO Search function

Oops! You make a mistake. Don’t worry. Go to the search bar located at the top of the page, click on it, and you can find your recent transaction. As long as you are authorised to change, you can edit and save the amended transaction.

QuickBooks Online navigator

The transactions which you have recorded registered in the transaction list. For example, the invoice and receipt capture in the All Sales list of the Sales Navigator, and the Bills and Cheque is under the Expenses list of the Expenses Navigator.

Go to Report Navigator, where you can find all the relevant reports to cross-check what you have recorded in your book.

Once you understand the flow of using QBO, you can try connecting your bank account to the bank. Pull down the bank transactions automatically into QBO to match or add into your book, and prepare your reconciliation.

Using QuickBooks is not difficult if you have set up correctly. QBO is country-specific, which has its GST or VAT set up, subscribe to QBO Singapore version if you are using it for Singapore business account. Contact the local office or consultant if you have doubts.

The three main things you need to know to kicks start your business finance in QBO:

  • the Gear icon to set up your preferences and lists
  • the +New icon to record your daily transactions
  • and find the transactions and reports from the navigator located at the left panel.

Easy?

Hope these are helpful for you to kickstart your book in QuickBooks Online.

For existing QuickBooks user in Singapore who intend to switch from Desktop to QuickBooks Online may contact us. It’s good to sign up a demo to see the differences between QuickBooks Desktop and QuickBooks Online before you dive into a new piece of software.