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Here we are in our QuickBooks Online test company file using the accountant view as opposed to the business view you can toggle between the two views by going to the cog up top and switching the view down below duplicating some tabs like we're going to do every time here we're going to right click on the tab up top and duplicate it as that's thinking we're going to right click again and duplicate again then as the tab to the right is thinking we're going to go into that middle tab down to the reports on the left hand side open up the balance sheet and then we'll tab to the right and reports on the left again this time the profit and loss the P and the L the income to the statement closing up the hamburger up top we're going to change that range and let's this time go from 010124 tab 123124 January to December 2024 is where the practice problem will be done at this point we already have some data in here if you don't have any data in here that's okay you can start from scratch we're going to go to the tab to the left close up the hamburger and we'll do the same range to the change 010124 tab 123124 and that's going to be the range we'll be working with let's go to the tab to the left now we're going into the banking tab because we're in the accountant view and we're looking at our receipts so i'd like to just add a couple receipts here now if we had our phone app we can do it with our phone app but i'm just going to basically upload our receipts from the computer so if we have the phone app what the phone app really does the added thing that the phone app does obviously it's mobile and it allows us to take a picture but really it's a kind of a pdf creation that is being made because the pdf format as opposed to the jpeg format is usually the one that the system you would think would be most easily able to convert and pull the data in so it can actually record a transaction with it so if i go on if i go on over here and let's say let's go onto this blank sheet and this is going to be where i'm just going to build a receipt in excel just so we can practice with it so you can pull out your favorite receipt and take an image of it if you want or we can just build some in excel here that would kind of mirror a receipt so i'm going to select the whole tab uh with the arrow and just just put some formatting into our cells right clicking format the cells here and let's make it as a general rule currency uh negative numbers i'm going to make with a bracket and then i'll get rid of the dollar signs and we'll keep the decimals let's do that and then i'll scroll in i'm going to call down control and scroll in so we can see what we are doing and then my first generic receipt we'll just say is like office depot right i'm just going to say all right office depot if hopefully i spelled that right the date would be on it let's let's make this a date format field home tab numbers group i'm going to change it to just a short date give me a short date format because the date would be on the receipt two five two four let's say and then i'm just gonna imagine we have some stuff that we bought right so i'll say we bought paper and that that cost you know i don't know seventy dollars we bought post-its post-its and that cost like like uh fifteen dollars we bought uh we bought staples staples we bought we're like ten dollars and then and we might have pennies involved here we might like put some pennies that be more realistic because they do that it's usually like 1099 right everything's something 99 that's how it usually is so then we have and then this is going to be the subtotal subtotal and then we'll sum that up equals the sum of that i'll put an underline here home tab font group underline and i think i probably misspelled subtotal but we'll get back to that later if that's bugging anyone sales tax let's just pretend we had a sales tax of five percent just to deal with that that's often on a receipt let's take this times 0.05 just as a generic sales tax four dollars and eighty cents that big daddy government's gonna take a piece of so the total then after sales tax is gonna be equals to the sum of these two and then we're gonna say that we paid the same amount 100.79 and that means that the uh that the change or any if there was a cash transaction would be zero a receipt looks something like that right that's a general kind of generic uh type of receipt let's see if let's review this and just say uh spelling is the spelling okay post-its i don't know how to use how do you say post-its post-its that's good i'm just gonna ignore that one oh i spelled subtotal right so let's do a couple more i'm gonna hold down control and drag this tab to the right and just do a couple other ones i'll just save this as a pdf let's say we did another one for office depot because it's the easiest kind of thing to do and let's say we spent more on paper and because we go through paper we this this is not a green business per apparently we just tear the trees down and put and print stuff on them let's insert another one here and let's say we need ink renter ink that we can put on the paper that we're using that's like expensive stuff 100 i don't know and then we didn't need any more post-its let's delete the post-its and then staples we're using a lot of staples because we have a lot of paper so we bought more staples that's fine okay and let's say the staples are 1277 i don't know and then the sales tax and what not and let's make a couple more i'm going to hold down control drag to the to the right see if i can make another one here and let's say this time uh we didn't maybe maybe we bought some we had a low a low month we only bought like 20 of paper and then uh ink we bought some more ink okay 37 of ink i keep on going 77 that's funny and then let's say now we didn't buy staples we bought paper clips paper clips because that's the other way we like to staple stuff because we like to punch holes in the in the trees but sometimes we go easy on them and just use paper clips so this is going to be 16 something i don't know so there's uh that and i didn't change the total down here let's fix this i paid the same amount so that should come out to zero but and let's do a different one now let's do like a restaurant so let's do and let's change the dates too i should change the date this happened let's say on three four and this happened on let's say uh three three twenty one and then let's do another one i'm going to copy this one over and let's say this one was restaurant this was just restaurant i don't know how to spell it it's like a french french name restaurant abc a restaurant we went to the restaurant and then this is like 27 and we bought at the restaurant let's say chicken curry it was a curry place apparently and then we had fried chicken fried chicken and a cheeseburger cheese burger i'm just making this up i'm actually copying it from some other receipt i found somewhere i'm plagiarizing a receipt don't tell anyone and then this one this one is going to be a uh a coke or soda let's say it's actually a beer on here but i won't put beer we'll keep and then we have a water they charged us for water oh my goodness ketchup soy sauce if they charge us for soy sauce i'm not going back any case chicken curry we'll say it's $11 and the fried chicken 10 99 cheeseburger 8 20 the soda that's where they really get you it's like we'll say like four dollars for soda i don't know and then the water the water i mean you should at least say you charged me for the cup not the water itself crying out loud and then let's delete these two and so we have something like that so here's our subtotal sales tax we might not have any sales tax if it's a restaurant in the united states so we might just delete this and we might just say that we paid that and then this minus this so something like that a beautiful receipt let's do one more restaurant one and then we'll upload it let's copy this over here and say this happened on four uh uh five four five well let's just do the same thing but i'll change the chicken curry went up to 15 99 fried chicken went up to uh 14 99 cheeseburger went up to 9 40 the soda went up to uh five dollars and they charged 120 for the cup of water this time the water was even brown i don't even i think there was something in that water even they still charged us for the water it's like wasn't even clean for crying out loud could have got the could have got the water anyways whatever whatever so now let's go ahead and save these i'm gonna save these as a pdf so so now i'm gonna save file up top save as and we'll save it not as an excel but as a pdf which would kind of mirror what your phone is doing so i want to save it as a pdf so we can just change it here where is that p there's so many things there it is pdf file i don't even know what half those things do whatever we'll save it as a pdf and so there we have it let's close it up i think it just saves one at a time close the current tab close all the close them all up close them all up shut them all down all right so there is our receipt okay so let's do it again for the second one we'll just do we'll just save these file save as browse it and we want to make that a p to the d to the f number two put a two next to it p to the d to the f man and then we'll say next one and then we'll save as again and do it again ultra vase ultra vase numeral trace ultra vase numeral face and then we'll say let's do it again number four file save as four close the door and we'll say that's a pdf number four one two three four close the dang door and then number five we'll go file save as browse and make that a p to the d to the f and make that numeral five numeral five all right save it all right so there's our mock receipts we're going to pull them into our system now so if i go back into quickbooks we can imagine we've got these just we're just going to pull them in from the computer uh now which is and then we'll be at a similar spot as though we used the super cool method which is of course the app on the phone but i am lacking super in super coolness so we're going to do it this way so we're going to say then can i add them all at the same time i probably could drag and drop them that would be the easiest thing so let's just open those there they go boom and so now they're processing as those are thinking uh let's and and it should extract the they're they're that was quick so see how fancy quick that is and so now we've got the information in here for like the office depot one and so there's the receipt on the left and then we can populate it which we'll do next time but impressive impressive the obi one has trained you well okay so now i don't know where that anyway uh let's do the same thing for the bank feeds now so now i'm gonna come on to the bank feeds and we'll say that that i'm gonna add the bank feed so that we can match these items to the bank feeds let's do a mock bank feed entries so i'm gonna add another excel worksheet and we'll format this one currency bracketed negative actually i won't do the brackets because that makes the bank feeds wonky weird so let's do that and then i'm gonna zoom in and all we need on the fields are is going to be the date and then the amount and then the description and did i spell description right review it i did por su puesto kc i spelled it right let's i bolded this let's make the column a a date field home tab number group and we want to use that the short date thing and then we'll just mirror i'm just gonna copy the totals that will be decreases to the checking account so this one i'm gonna imagine that that it's just going to be a decrease to the checking account of the amount of the total of the receipt imagine that we paid it with like a bank debit card or something like that right so i'm gonna say okay on two five twenty four something's going to come through our bank feeds at one hundred seventy nine and the description if it were an electronic transfer of some kind would have oftentimes the name office depot and a bunch of other stuff in it that we would have to pull in to office depot and then now if i didn't have if i paid with cash or something like that then i might not have that i mean you know i might not have this other detail so we'll talk more about that later but if these were electronic transfers we'd see this come through so let's just add it as though they were electronic transfers for these we had another office depot we paid two oh six oh six this is office depot and then we had another office depot on three twenty one twenty four we paid seventy eight fifty five office depot i need to make these negatives by the way i'm gonna double click in here negatifies them they need to be negative they've been negativized negative nannies okay nannies aren't always negative nannies get a bad name they're not always negative negative nannies three twenty seven twenty four this is going to be negative thirty five point one nine and this is going to be the restaurant abc the restaurant the restaurant that we went to and this one is on four five twenty four negative forty six point five eight and once again the restaurant abc so hopefully i got those numbers right let me just double check here looks movie b to the n the n to me okay so then let's save that as a p to the d to the f or no we're going to save this one as a csv file because that's a file that we can upload for the bank feeds so we can see it and imagine it coming through the bank feeds so to do that we go to the file up top well let's first let's save it this way to make sure i don't lose that data and then file save as and then i'm going to make it not an excel file but a csv comma deliminated file that's the one that we can upload from the bank feed so we can play with this stuff and that's what we want to do playing is fun times we're going to do some playing here so it looks like this as opposed to that and uh and uh this is the one we can upload that is the one we cannot so let's go back on over and we're going to go to our banking tab now so let's go into our banking if you don't have any bank feeds set up in a practice file then you can just add the account as you upload the file so instead of linking directly to the bank we're just going to upload hitting the drop down upload from a file our banking stuff and we have the option to pick up the file one of those options is a dot csv file the thing that we created in our case from the excel file let's go into that and there it is there's our bank feed file is that it that's it that's the one you're the one why it let's save that one and then don't let them get you too man we're gonna add that it's gonna be this i gotta move that's a movie line it's in my head i don't know why is is this the first it is we're gonna say it's a one column thing and then it's going to be month month day day year year year year we have the date to the date the description to the description amount to the amount those are the headers that are pulling through we can continue and check it out to see if it's doing what we think it should these are the amounts those are the descriptions that's the dates looks movie B to the NBN so i'm gonna select the whole thing checking them all off so we can continue and add them in it says quick books will import five transactions using the fields you choose do you want to import it yes let's do it people import complete accept your transactions done so now if i go into my checking account i have those transactions have been imported and you can see here that they've matched them to the receipts right so if i go into these see how how nice that is now that would only work if of course we had electronic transfers that we made and we've talked about a couple different scenarios that we have with the receipts it might not have been that we made an electronic transfer we might we might have paid of these things with cash or we might have paid it with our personal checking account or our personal credit card account in which case we'd have to think of a system on how we're going to add those into quick books but if we paid something with a receipt and we also used an electronic transfer of some kind out of our checking account then you've got this nice matching matching thing that we see here we found the receipt and matched it out so now we've got some data to deal with we've got the bank feed side of things and we've got our receipts side of things and we could imagine those receipts came in through the cool way with the mobile app or the not so cool way with with with our computer pdf stuff and we'll we'll go run some scenarios with that data in future presentations