 QuickBooks Online 2024, account and settings, usage, QuickBooks checking and sales tabs. Get ready because we're going to Bookkeeping Cloud 9 with QuickBooks Online 2024. First, a word from our sponsor. Yeah, actually we're sponsoring ourselves on this one because apparently the merchandisers, they don't want to be seen with us. But that's okay whatever because our merchandise is better than their stupid stuff anyways. Like our CPA 6 pack shirts, a must have for any pool or beach time. Mixing money with muscle, always sure to attract attention. Even if you're not a CPA you need this shirt so you can like pull in that iconic CPA 6 pack stomach muscle vibe man. You know, that CPA 6 pack everyone envisions in their mind when they think CPA. As a CPA I actually and unusually don't have tremendous abs. However, I was blessed with a whole lot of belly hair. Yeah, allowing me to sculpt the hair into a nice CPA 6 pack like shape, which is highly attractive. Yeah, maybe the shirt will help you generate some belly hair too. And if it does, make sure to let me know. Maybe I'll try wearing it on my head. And yes, I know 6 pack isn't spelled right, but three letters is more efficient than four. So I trimmed it down a bit, okay? It's an improvement. If you would like a commercial free experience, consider subscribing to our website at accountinginstruction.com or accountinginstruction.thinkific.com. Here we are in our Get Great Guitars 2024 QuickBooks Online sample company file. We set up in a prior presentation. Last time we went over some of the normal navigation locations, which we want to review this time before going into some of the preferences, which is our major point of focus this time. So when we think about having the accounting system set up and doing the normal accounting process, the normal accounting cycles, we will normally do that with the use of forms. Most of them located in the new button and broken out having cycles within cycles, meaning the entire accounting process can be thought of as cyclical on a monthly basis and yearly basis. Repeated processes happening within them. And within those cycles, we can break out further cycles such as the customer cycle, otherwise known as the revenue cycle or the accounts receivable cycle, the vendor cycle, otherwise known as the expenses cycle or accounts payable cycle and the employee cycle or payroll cycle. These are the forms that will be used to enter transactions within those cycles. We then will be managing our communication with the people we do business with, customers, vendors and employees in the centers, which would be the sales center over here, which you might call the customer center, the expenses center or vendor center and the payroll center or the employee center. When we first set up the company file, then we have our major lists in the cog. So we're going to go into the lists, which have the major two lists of the chart of accounts and the products and services. And we also have our company information over here. We are now focusing in there on the account and settings. Clearly, once the account and settings are set up, when you first start the company file, you're not going to be going into them often in your normal accounting process. So this is going to be what you do when you first set things up. And then everything hopefully will be rolling smooth once you set it up properly. So we're going to go into the account and settings. Last time we took a look at the company tab. The company tab, mainly being populated through the interview process that we did when we set up the company file, although most of those questions you can change in here. So when you start a new company file, you don't have to be too scared that you can't change anything because QuickBooks Online is really trying to have a pretty generic setup process, even though that interview process looks like it's going to have a lot of things that are going to impact the fundamental workings of your accounts, such as having a different chart of accounts. But that's not typically the case. Most of the time you can go in here and make those changes. So now we're going to go into the usage tab. We'll take a look at the QuickBooks checking and the sales tab. Note that they used to have a billing tab in here, but that's kind of part of the usage tab now. So let's start off with that one. Within the usage limits, you have these are your usage limits for QuickBooks Online Plus. You need more room, upgrade to a plan with more capacity. So find out more about the usage limits. You can open this and take a look at that. So remember, when we looked at the different types of plans within QuickBooks Online, if we think about QuickBooks in general, there's two types of software. We've got the desktop versus online. And when you're in the online, once you've chosen that, then there's different tiers within it, and basically are the same software, but there's level up in terms of the capacity of use within that software. So if you have some kind of limitation, then you might want to upgrade the software in order to pick up whatever limitation is there. So the billable users, that's often one of the limitations that people need to upgrade for, meaning how many users are actually accessing the QuickBooks Online possibly at the same time. And if you have a lot of bigger company and more accountants using it, then sometimes that's the reason you need to upgrade. Also, if you want more separation of duties and capacity to separate those duties so different users can only see certain things, then that's also a reason that you might upgrade the chart of accounts. So it might have a limit one of 250. So usually for small to mid-sized businesses, that's not usually the restrictive item that you need to upgrade with, but if for whatever reason you have a large chart of accounts, then you might have something like that. And then the tag limits. Tags are kind of like class tracking. They allow you to track certain things, giving reports with a little bit more detail. We have another whole course or section focusing in on tags, class tracking, location tracking, if you want to get into that in more detail, but it's kind of a specialized area. So usually 40 tags is more than enough for most small to mid-sized businesses, but if for whatever reason you want more, that might be a reason to upgrade. Usually the reason to upgrade though would be this reason up here, or if you have something less than the recommended plus version of online inventories, often a reason to upgrade. So if it says over here, it's time to power up, get the room and functionality you need with QuickBooks Online advanced. So we're currently in the plus, so the next one up would be the advanced. So if you go into these items, it'll take you basically to the users. If you wanted to take a look at that, we'll take a look at users in more detail in a future presentation. I'm going to go back into the dropdown, back into the account and settings, and then I'm going to go back into the usage. So these things will link you to different locations within the system. If I was to upgrade, I can say I want to see the upgrade here, and then it'll give you the options. We're currently in the plus versus the advanced, and you can see some of the differences down here. Share access to multiple users. Here's the differences. You get a nice little comparison between where you're currently at and where you're going to. Remember that when you're looking at these billing processes and how much you're going to be paying for the software, you can always advance up if you want more functionality. It's going to be more difficult to go back down sometimes, right? Because one, QuickBooks is going to try to keep you advancing and not to go down in price. And two, if you do happen to use some of the features in the advanced, even if you don't really need them, but you're like, I might as well use them because they're there, they're available, then when you try to downgrade, it's going to be more difficult. So what you want to be thinking is, I want to pick up the software that's going to fit my needs, but have the lowest one which possibly will fit my needs as long as it has enough room for me to grow to what I think I'm going to grow to, and then be able to upgrade rather than starting at the advanced version and then trying to downgrade, right? Because that might be more difficult, especially if you use some of the stuff. So share access with multiple accounting firms. So a lot of small businesses, you might only have one accounting firm. But if you have multiple accounting firms, then you might be able to share the accountant view with more than one firm. Chart of account entries up to 250 versus unlimited over here. Track classes and location, yeah, 40 combined between them, whereas there are unlimited. This is similar to like the tags. And then these are all the same. So then if I close this out, it takes me to another screen, which used to be the billing screen. So I'm going to close this back out. And now you can see basically what would be the billing screen, your subscription, where we currently have QuickBooks Plus. It's subscribed, but you can see it's in the trial. So they're going to build me at the end of the trial. So I'm hoping to not be here by 212 would be the idea. QuickBooks payroll. Once again, you can see what you're in right now. And then the trial ends again. The next billing cycle is here. So then I'm going to I'm going to close this back out going back to my dashboard and then go back up to my cog back into my company, your company and account and settings. And then I'm going to go into the usage. So that's what we saw with the usage. So if you want to get to that old billing tab, you can go to the upgrade and then X out of it. And that takes you to your current kind of subscription area. They've replaced that old billing tab with this one, QuickBooks checking, which is their current thing. It's kind of an upsell type of thing that they would like you to get enrolled in. And it's basically has their their checking account, which does have some advantages. I think we have a course or section that focuses just on this. However, it's not a requirement to to use QuickBooks so you can think about whether this would be useful to you. So we have your banking and books altogether. Now QuickBooks checking is a bank account with no monthly fees or minimums. So meaning you might have a bank account with Bank of America or some other bank. You can still connect Bank of America or some other bank to your bank feeds. However, if you want to basically send an invoice that has a link to an automatic payment or something like that, then the easiest way to do that within QuickBooks is to use the QuickBooks checking account. So that would mean you'd have to have another checking account with QuickBooks. And that might make it easier to do things like give different purchasing options that are linked to the invoice that you provide. That's one of the major benefits that you could have within it. So again, we have another course or section if you want to think about that, but you're not required to have basically the banking with QuickBooks. That's another field or area of banking that QuickBooks is experimenting with here. So since payments and spending all happened right here, your books stay updated. So hit savings schools sooner with 5%. So now they're talking about their savings goals. These are banking information. So it's kind of an upsell type of thing to bank with them. It's not costing you a fee right now, but if they get your banking business, then banks make their money on interest and whatnot and holding on to the money which they then invest and so on. So get faster deposits at no ester costs. Skip the wait. See your money same day, weekends and holidays. So you're usually going to see the money if you have electronic transfers using other banking systems as well. But it might be a little bit easier to connect the turnaround to the invoices if you use the QuickBooks banking. That's where it could be nice to email someone and have them just kind of click on the email in order to facilitate the electronic transfer. Something like that. Stay on track with automated savings automatically set aside what you owe for bills, pay them off right in QuickBooks. So then also on the bill payment side of things, it might be a little bit easier to pay the bills within QuickBooks. But I don't think that would be too difficult if you have a normal electronic transfers with any bank that could then feed in with the bank feeds. I think the major benefit from your normal accounting cycle process would be the ability possibly to use it to attach to an invoice to make the facilitation of the payment of customers possibly a little bit easier and possibly allowing them different options to pay electronically. Okay, so let's go to the sales tab. So within the sales tab, this is going to have to deal with customers. So you would think when you're thinking about the reports that might be impacted, you're usually thinking about the income statement, the income side of the income statement, and on the balance sheet, the accounts receivable collecting. So we've got the categories here. We've got the ability to change it with a little little icon here, the pencil, and if you click in it will be able to change things. So you've got the sales form content, invoice payments, product and services, late fees, progress invoicing, messages, reminders, online delivery and statements. Let's take a look at each of them in a bit more detail. If I go into the sales form contact, preferred invoice terms. So when we invoice someone, the question is how soon will they be paying us? Default 30 days. So you invoice someone, you would only invoice someone if you have an accrual, I mean, yeah, an accrual based system on the revenue side of things. So you did the work and then you send the bill would typically be the case. Then the question is how long do you want to give the client to pay you? So the default is 30. These are the default options that you can select any of them, but it's currently defaulted to be 30 on a particular invoice. So if you want to change the default, you can add other settings up top and then you can make it your default within here. You also might set different defaults per customer. Once you set the customer up and say that they, for whatever reason, have a longer time or shorter time to pay you than the normal default setting for most other customers that don't have a difference from the default. Okay, so we got the preferred delivery method. So print later, send later, we're going to keep it at the default for none. So it says sets the default delivery method, the delivery method default determines the way you'll deliver sales forms to newly created customers. Meaning when you set up the customer, how are you going to give them the sales form? Usually the invoice or the sales receipts oftentimes it's going to be by email these days. So you can change the default delivery method to a customer by editing the customer on the customer list. In other words, once you have the default for all customers, you can then go to an individual customer and make it different for that particular customer. So it'll be different from this default and that customer will have its own default. So you can also change the delivery method when you create the invoice. In other words, once this default shows up on the invoice, you could change it on the actual invoice at the data input point. So then the shipping, so you could turn on the shipping here and the shipping is going to be add shipping fields, date tracking, number destination subtotals to the sales form. So if you're dealing with the shipping, you might toggle that on to get some more of those custom fields within there. Related setting advanced, so advanced chart of accounts and shipping accounts are going to be related items that you might need in order to activate those fields. And then we've got the custom fields, go to settings, custom fields to manage your custom fields. So meaning if you have invoice forms and you want some of the added custom fields in place that possibly you would need in order to deal with this shipping area, you can manage the custom fields there. We might have another course or section on that specifically, but that's a specialized type of area. The default settings on the invoice are typically good for our purposes. So we'll leave it there for now. Custom transaction numbers. So let's you view and change your transaction numbers. So meaning when you enter transactions, which are the forms, in this case sales forms, usually invoices and sales receipts, they will have a transaction number and this allows you to view them and change them if you so choose. Usually they will come up by default and you will keep the transaction numbers, which will be like checking check numbers, you know, for the forms. And then we have these that are off by default. So we have the service date adds a service date field if you need to track the date a service was performed separately from the invoice date. Why would you need that? Well, note that when we're on an accrual based system, we're going to record in we're going to record income when we enter the invoice, which is typically the normal process, because the invoice is the point in time or the form that we create that's closest to the point in time that we did the work. And on accrual basis, that's what you would do. But sometimes you might actually have done the work before, meaning you might have done the work, for example, in December of one year, but you didn't send the invoice out until January of the next year, which might happen in like a job cost system like a bookkeeping system or law firm system. And therefore you might want to track the date the service was actually done because on an accrual based method, that's really the date in which the form, the revenue should be created. And so you can kind of track that possibly. And then the discount field adds a discount field to invoices and other sales forms related settings, advanced chart of accounts and so on. So the discount, what would that be? Well, if you have an invoice, you're going to set up your items and charge them per item, service item, inventory item, but then you might have a discount field. It might be part of your business to commonly give discounts, right? So then you would need another field so that you can say, OK, here's I'm going to give you because you're special. I'm going to give you 15% off in a discount field. So you'd need another field to do that, or you can create an item that would be a discount field for an item within the invoice. But this will create another field, a deposit. So adds a deposit field to invoices so you can subtract a custom deposit from the total to calculate the balance due. So when we're thinking deposit here, we're not thinking deposit into our checking account at this point. We're thinking about the invoice and on the invoice that we're billing the customer for. They already gave us an advanced payment. A deposit is what we're thinking, or they're giving us a deposit at this point in time as we enter the invoice. In that case, I need to show the deposit on the invoice so that the bottom of the invoice will show the net after the deposit that they give us, right? So that's going to be, and then we have the account tips, accept tips from customers on sales receipts and invoices. This is a default setting that will apply to all future invoices. So in other words, we could have our invoice and then say you could give us more than that, right? This is our invoice. We have a tip field if you would like to give us basically a tip. Now as we track tips, there's going to be some added settings that we might need to say, well, who are the tips for so that we can track, you know, for tax purposes on the tips. So that's off by default. And then we have the tags that lets you add tags to track sales in custom way. So the tags are like class tracking and location tracking, giving you more tracking information on reports. If you have special areas you want to track, we have a whole other course or section on tags, which is a specialty area. If you want to look at that. So let's close this out and first look at a normal invoice without those on and then we'll turn them on and look at the difference. So if I hit the plus button and we go into an invoice, this is this form that we send. If we did the work, typically we do the work and then we're going to send them the invoice to collect on it. Note that we're currently in the new layout versus the old layout here. So the form will look basically the same, but we have a different looking feel for the for the new layout. And this is again why we kind of update the course periodically because QuickBooks, everything's the accounting system will basically be the same, but they have a new looking feel for the updated layout. And here's the old layout. If you want to do comparing contrast between the two, you can currently go back to the old layout. They're going to tell you that the new layout is going to is going to be the way they're going in the future. They'll probably keep this one, but you never know, right? They probably were trying to keep the the business view before as so we don't we don't know what they're going to do. But here's what it looks like right now. So you've got then the invoice, the invoice number, the terms you might just tab through here tab the terms. There's that net 30 we talked about that's there by default at this point in time, but I can still change it on the form. And then I can I can also change the default setting so it will not be 30 but possibly 10 by default or something like that. And I can change the customer. So for a particular customer, it might be different. Here's the invoice date. Here's the due date. The invoice is when we made the invoice due date currently 30 days later. Here's the tags field. Now we might not need tags so we could turn the tags off. Here's the product service, the things that we're selling description quantity and so on. And then down below, we've got the customer payment options, which you can take a look at, which again, if you have the actual payment options for the QuickBooks check in, then you might be able to adjust the payment options to some degree. And then we've got the subtotal sales tax will deal with sales tax later the invoice total. And then you've got your custom fields down here for that tell you to give the instructions for payment contact. Get great guitars for payment. If you had further payment instructions, you could use those here and then note to customer memo and attachments. Now let's close this out. And I'm going to say leave without saving back into the cog up top account and settings. And then let's go into our sales tabs and turn on the service date, the discount and the deposit. I'm not going to turn on the accept tips because it takes a little bit more of a bit to work up with it. Maybe we'll look at it, you know, in and of itself at a later time just to focus on tips. But we are just going to test these out for now. Now note you might not want to do this on your side because we will turn them back off again. But you can the idea being is we can toggle these on and off. So I'm going to go ahead and save this and then I can say done down here or X out up top. And then I'm going to go into the plus button back into an invoice and look at the changes. So I'm just going to put my cursor in the first field and toggle through it with a tab tab. That's the same invoice number terms are the same invoice date the same due dates the same the tags are the same. But now we have a new service date. So this is a new field. It makes the report a little bit longer. So if you don't need that added field, it's nice to have it off. That's why it's off by default. But if this service date here is different than the date of the invoice, that's when you might use it. Then we've got the product service. We've got the description quantities. All this is the same. And then down below we've got the subtotal. We've got the sales tax, which is the same. But now we have the discount. So the discount meaning if we sell something and then we say we're going to provide you with a discount, the discount is now located and calculated down here. If however you want the discount in another format, so it's not down below, the other methods you could use is to turn this field off possibly and then use the items to create kind of a discount. And that's another method that you could test out with relation to that. And then lastly, we have the deposit down here. So if for example, I did the work and I'm invoicing someone, usually we're doing it electronically. We're going to send out the invoice and we haven't got any money yet from the client, but possibly if they gave us money as we issue the invoice, then we can put the deposit here. Otherwise, we'd have to do like a two-step process to receive the payment and then apply it to the invoice. So once again, this field right here, this discount field and the service date have been added. You can see that they could have their uses, but they also make the invoice a little bit longer, more cumbersome, more likely for someone to mess up the data input if they're not aware of what they're doing. Therefore, if you don't need those fields, it's nice to have them off, which they typically are by default. So let's go back up and we'll turn them back off. I'm going to say leave without saving. Go on to our cog, account and settings and then back into our sales and I'll just turn those back off. So we're back to the defaults, no service date, discount and deposits. We will deal with prepayments by the way, which are kind of like customer deposits and we'll see how that happens from an accounting standpoint and a little bit as we work through the practice problem. But we'll save that. That's back to the defaults. So invoice payments. So this was that field that we saw when we looked at the invoice that says contact, get great guitars to pay. So if you have some other way that you expect to pay, meaning when you give them the invoice, sometimes you can give them different payment terms. If you have the QuickBooks checking, you might be able to say, here's a link to an automatic payment or they can connect it directly to the email or something like that. If you have some other kind of payment system that you're setting up, then that might allow electronic payments or something like that. You might give them more personalized instructions in this field on the invoice. So that's what it is by default, just as contact us. If you want to give them more personal information or instructions, you could put that here. You've got the product and services. So show the product service columns on the form. So adds a product service column on sales forms. So you can choose from a list of products and services. Products and services are the things that we sell. Sales forms are invoices and sales receipts. Generally, you would want to have that on. And in the SKU, it's going to open over here. That's going to be a number that you possibly don't want on the form oftentimes because it's an internal tracking system number for the inventory, typically. And then we have the price rules. So the price rules allows you to provide discount for specific products to certain customers for a specific amount of time. So this is in the beta mode, giving you more flexibility on customizing prices that are specific to certain customers. So that would be more of a specialized kind of tool that could be used. So we might look at that more in a separate course or section as a specialty area in and of itself later. But we have the track quantity and price. So adds quantity and rate fields to sales forms. So you can track this information for products and services. Again, products and services are the things that we sell. Invoices, I mean, sorry, items, inventory items and services. So you would typically want that on so that you can track and populate that information on the invoices. And then here we have track inventory quantity on hand. When you deal with inventory, we'll talk about, as we go through our practice problem, a couple different ways you can handle inventory. One being a perpetual inventory system, in which case we want to track the inventory on hand as we make purchases of inventory with the bill form expense or check forms recording not only the dollar amount, but the units of inventory. And then when we sell inventory using the sales forms of invoices and sales receipts, we will actually record the dollar amount decrease of the inventory as well as the units of inventory. That's actually a very difficult process. There's a lot of steps that are involved in that. Many times you might not want to track inventory within the system. For example, if you're using a Shopify store, some kind of online store, Amazon or something like that, you might track the inventory on the external website and then just put in the dollar amounts on a periodic system into your accounting system. You also might track the inventory on a periodic system on an Excel worksheet so that, for example, and then make the adjustments periodically. So we'll talk more about that as we go, but we will be tracking inventory in our practice problem to practice the perpetual inventory method, the more difficult one within QuickBooks at least, and then we'll discuss the periodic method when we get there. So these are the defaults that are on here. We've got the late fees. So late fees default charge applies to overdue invoices. So when you have an invoice, you did work, you billed the client with an invoice, when we bill the client, we say that we bill them often in normal terminology. We call it invoicing though for QuickBooks. That's the thing that we send out, the form that we send out. Now, if they don't pay us within the term, which we said was 30 days, then usually it's a short term thing so we might not have collection action or charge them interest or something, but you might want to try to, right? You might want to say, I want to charge them if they don't pay me on time. So you could turn this on. After you turn on late fees, you could customize settings for individual customers from the dashboard under customers. So now you're going to say, if they pay me late, I want to charge them some kind of fee automatically. Once you turn that on, you could then go into the customer fields and change from the default settings to a different setting for the specific customer. So these would be the default settings once on for all customers. You can have a flat fee. So you could just say, if you're late, you get you owe me another $20 or whatever. Or you can have a percentage percentage of remaining balance. So if you owed me $100 and I'm going to take, I'm going to charge you another, you know, 10% because you were late. Apply an upfront one time flat fee. So then we have the grace period grace period begins the day after the due date. Late fees will not accumulate during that time. So in other words, when do you want basically the, the late fees to start to, to start to happen to compile? So we've got none for the grace period one, five days from the period of the due date appears on invoice. If you delete this item from the products and service list, late fees will no longer apply. So then the late fees is going to be appearing there as late fees. So there may be a limits on the amounts and type of fees you may charge to your customers. You should confirm the requirements in your jurisdiction and how they relate to you. In other words, if you're going to be charging late fees, you want to make sure that you're in compliance with whatever laws and regulations would be applicable for you with regards to possibly collecting on, you know, your accounts receivables. So normally because the accounts receivable is a short term kind of payment, most small businesses don't have the late fees oftentimes by default. So I'm going to keep them off for, for now for the purposes of our practice problem, which is the normal default setting. Then we have the progress invoicing. So create multiple partial invoices from a single estimate. So when we have an estimate form, that's an internal document, which is a, which isn't, which is an estimate of how much we think the billing will be typically used for longer job cost system projects, which could be in place for a system of a service job cost system, like a law firm, accounting firm, CPA firm, or for like constructions, things that are being built, which are building the inventory item. In that case, you might make an invoice. And then there's a question with revenue recognition. Revenue on an accrual basis is usually recognized after the work is done, even if we have not received the payment, which from QuickBooks standpoint is usually the point in time that we send the invoice, because we usually send the invoice after we finish the work. But if you have a long job, then you might have a situation where it's like, well, you should be recognizing the red revenue, possibly as you do the work, because the job, if the job takes like a year or something like that, the question is, should you be recognizing revenue as the job is being done since it's a long job, which is a deviation from the normal revenue recognition principle in that specific case, possibly using like a percentage of completion type method or a completed contract or something like that. So that would only be a case if you're in a system where you where you have something like that where you're, where you want to be breaking up your estimate to multiples. And that's a specialty area. We might have another course or section. We do have other course or sections on a job cost system and I think partial invoices, which is another special area. So messages, default email messages. So when we send out the sales forms, those are going to be the standard types of forms that we would send out invoices. Generally, possibly sales receipts, but definitely invoices, and we might send them out by email, which is the common thing now, and we might have just a normal message so that we don't have to enter a custom message every time we send out that email. So we have the message. I use the greeting. So we have deer versus whatever you can put in your own thing. This brackets represent the fact that we're going to pull in the name from the customer field, which is in our system. That we've input them as a customer sales forms. So we have the different forms. We can look at this in the sales forms include the invoice, the estimate, the credit memo, the sales receipt, the statement, the refund. And then this is the invoice new payment request. So we have a payment request. Here's our message. We appreciate your business. Please find your invoice details here. Feel free to contact us if you have any questions. Have a great day. So if we want to make that personalized in any way, we can do that here. It will pop up on all the invoices in terms of the email that we set up not actually on the invoice but on the email where we're going to provide the invoice. And then email me a copy. So they might if we want the copy to be sent to us to verify in our inbox that we sent to the customer, we might turn that on. That would only be the case if you had small amounts of invoices. Otherwise, you're going to flood your inbox. That's why it's off by default. Copy new invoices to address. So if you want to CC someone else so that you have someone else verifying the invoice. Again, you can you can use that CC. You can also use the BCC, which means that the client that receives the email will not see the fact that you also copied it somewhere else so that someone else possibly can verify that the email has gone out. And then you have your sales form, your estimate and your invoice down below, meaning you have another field down here. So we have you can create a different default message for estimates and all other sales forms invoices, sales receipts, credit memos and refund receipts. Now, if I changed this, it's so I can always use the use the standard message. So if I want to go back to that, and then I have my estimate. So remember, this is the form that you send out before possibly you send out the invoice possibly creating the invoice from the estimate also a form often given to customers, therefore you want to customize the email and your estimate form possibly. So this is the default message for an estimate, the credit memo, hopefully you don't have the credit memos happening that much because that means they returned the the product or they no longer want the service or something and you're going to you're going to issue them a credit memo typically reducing the accounts receivable, reversing basically the invoice. So you shouldn't have this happen that much. But some businesses have more credit memos depending on the industry you're in. So credit memos attached. So you have attachment of the credit memo. Sales receipt. The sales receipt is the cash based kind of sales form as opposed to the invoice. And it's usually used if you get paid at the same point in time. So possibly you might not be emailing the sales receipt as much as you might use the invoice because it might be more of an internal document that you're using to record the transaction. But you could give them the sales receipt as a verification of the sale which is fairly common in which case you would want to have a form and some customization of the sales receipt. And then we've got the statements. Now the statements are going to be going to be given out possibly periodically. They're not actually a form. But if you're tracking the accounts receivable, you might want to periodically give out statements instead of re issuing the invoices all the time, because you might have some customers that have multiple invoices, for example, that are demanding. And if you send out the statement, the statement might be able to summarize those invoices in one email report so that possibly it'll be more likely that you get paid the total balance that they owe you instead of sending out like three different invoice updates, right? So this is your statement is attached. Please remit payment at your earliest convenience. Thank you for your business. So this would be things that you send out possibly periodically with regards to the statements for the receivables and then the refund receipt if you needed to send a refund receipt. We'll talk a little bit more about, well, I think we have another presentation on the differences between like a credit memo and basically a refund receipts and this kind of thing. But basically, if they already paid you the money, and then you need to send them the money back because they returned the product or something like that, then you might have that form. Again, possibly a less likely form that you're going to be using all the time. You can see there's no default message. And if it is something you're using more often in your business, you can make a default message for that. So I'm going to say, okay, that's good, let's close that back out. Let's go to the next one. You have unsaved changes. I'm going to say that's fine. So I didn't change anything defaults are there default emails for invoice reminders. So automatic invoice reminders. Now, when you when you're dealing with accounts receivable, you're going to have to collect on the outstanding accounts receivable. When you send out the invoice, that's a request for a payment. So then the question is, from a from an AR management standpoint, how are we going to follow up and make sure that we get paid on the invoices we sent out. You can think about a combination strategy between one trying to send out the automatic reminders sending out the invoice reminders and to dealing with the statements that we talked about up here, which can combine multiple, multiple invoices together, and we can set both of those up in somewhat of an automatic, an automatic fashion where was I'm down here. So so these are so these are the automatic invoice reminders automatically email reminders only apply to new invoices turning off automatically reminders removes them from all invoices. So you've got reminder one three days before the due date so it's not yet do the reminder by default if you turn this on three days before reminder here's the message we're sending out a reminder and so on and so forth so that's so we have that one. It's currently off so so if that's the method you want to use, then you can you can have that one and then the second one. This is going to be on the due date. So that one's on the due date. And then you have the third one, which is going to be after after the due date. And so so and this is this is days after three days after. So you could use this as as your method you want to kind of compare these reminders it'd be nice to have these by default. But notice they stop after three days after. So you might want to combine this with the sales with with the what did I call it the the the the statements that the statements that you're going to send out, because you might be able to set the statements to go out, you know, for possibly past due invoices, right, and then and then those statements will combine any outstanding invoices and keep going even after the third reminder. And then, and then you can use possibly these reminders as your first reminders before the due date happens right. So you want to think about your settings to combine to think about your reminders for each individual invoice that you might want to set up automatic reminders. And basically your statements is the general idea I'm trying to get to. So online delivery, email options for all sales forms. So show short summary in the email versus the default show full details in the email so the default is full emails will keep that PDF attached. So it's going to give an attachment of the PDF will keep that as the default additional email options for invoices online invoice versus the HTML invoice and the plain text invoice so we're going to keep all the defaults for that one. This one says show statements when we look at the statements those being once again the statements we might send out for outstanding accounts receivables that might combine all multiple invoices into one statement that we can send out to our client. This one says we can turn on and off the the aging report but when you click on it it kind of disappears so I think that's one of those items that QuickBooks is kind of messing with to see if they want to have that option or not. So right now I would just keep that normally I would keep that on because it's a it's a nice option within the statement to have the past due dates on there. And so we'll keep that as the default so those are going to be those ones will go through more of some more of the settings in future presentations.