 QuickBooks Online 2023, track, approve, upload and attach receipts overview. Get ready to earn the skills needed to boost your bank books on up with QuickBooks Online 2023. Support Accounting Instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course. Each course then organized in a logical reasonable fashion making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as excel practice problems PDF files and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. 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. We're going to duplicate some tabs to put our major financial statement reports in that being the balance sheet and income statement otherwise known as the profit and loss report to do that I right click on the tab up top and duplicate it and then as that's thinking I'm going to right click on the tab again and duplicate it again. These are the two tabs I want my financial statement reports in. I usually tab to the middle as the one to the right is thinking and then go to the reports on the left hand side and the favorite reports will always have our balance sheet and income statement because those are our financial statement reports and therefore by default one of our favorites tab into the right down to the reports on the left this time the profit and loss otherwise known as the income statement I'm going to close up the hamburger I'm going to scroll up and change the range and the general range to start with 010123 tab 123123 tab January to December 2023 run it and then I'll tab to the middle close up the hamburger same thing range needs to change 010123 tab 123123 and tab run it that's the setup process we do every time got our reports set up and then I do my data input on the left hand side so now we want to deal with or and look at the feature that QuickBooks has for receipts allowing us to upload receipts and possibly record transactions with those receipts first let's locate where the receipts are at under the accountant view they're under the banking tab where you would typically go if you had your bank feeds attached and then you've got your receipts on the right hand side under the business view I'm going to check that out we're going to be working mainly under this view the accountant view but let's look at the business view so you can see where it is I like to go back to the dashboard and then change the views cog up top switching to the business view where you got all the wacky lingo that they like to use with the get paid tab and the get things done page where this is where we're on right now so we're going to go into the bookkeeping area and then transactions up top which is once again where your bank feeds would normally be at and then you've got your receipts so here's the same location using that method I'm going to go back to the accountant view because that's where we're typically going to be working but you can see it's you know the same stuff in essence a little bit different look and feel to it between the two views the accountant view switching back on over a little bit more professional on the language it's probably I feel like it's easier to navigate but that's probably because I've worked with it longer I think the other view might be more manageable maybe on a phone might that might be one of the advantages to it so I'm going to go back on to the banking over here we're in our receipts so what's going to be the advantages of the receipts so the receipts allow us to upload the receipts into quickbooks why might we want to do that well we might use the receipts to help us to to create financial transactions a receipt usually will of course correlate to an outflow cash going out of our checking account eventually and so we can use the receipt to record a transaction which would generally be like an expense type of form the form used to decrease the checking account and record typically some kind of expense we might also use the receipts to track the receipts so that we can basically attach them to some of our expense forms which will give us some backup some support about what those expense forms are at so that we can use that possibly for internal record keeping and have our internal audit trail to verify that things are going the way they should and or for external audit trails such as for example for taxes so that could be a useful tool we could also use it if we're you can imagine using it like if you had employees or contractors that you were going to like reimburse for example based on their expenditures they might give you evidence of their expenditures in some way shape or form and possibly the receipts i could be a way that you can take the receipt and then use that possibly to create a payment that would be to the contractor you would think right based on the receipt and then maybe if you could attach the receipt to the payment that was made in that way those are some basic ways you might use the receipts now a nice thing about the receipts these days is that everybody has a camera on them which is basically their phone and if you use the quick book app then you can basically take a picture of the receipt and and if you're using that app it'll basically manage the receipt and then pull it into quick books for you so that's a great tool for us because of course then we can easily get the image of the receipt into quick books using our quick books app which is kind of working more like a scanner in some ways in order to convert it basically to a pdf file and allow us to upload it into quick books now the the app is not required because you could basically you could use other methods to basically upload if you can get an image of the receipt from your computer or your google drive and you also have this kind of email option that will take a look at as well which is a pretty neat option but clearly the app is is often going to be a useful tool to get that primary image and you can use the app software quick books app in order to take an image of the photo and you have some management options to be able to kind of categorize the photo in the application so once once the image is in quick books then whether it be taken from a phone or whether we upload it from the computer or a google drive or it's emailed to us then we can manage so we have a couple examples down here of the receipts that are in our system we've got the two tabs up top they got the for review tab and then we've got the reviewed items so if we go into these items you can see a nice image of the receipt on the left hand side and then we can post this receipt if we so choose so we've got the payee we've got the the bank uh account which might be like a checking account the date which is going to be pulling from the receipt this is just i made this receipt in excel just for our demo which we'll do in the future it's going to be great and then down here we have our line items so you can see it looks kind of like the bank feeds that we're going to upload we can use this to create an actual transaction recording the transaction now you kind of want to be careful with this of course on how you're going to implement this because because uh if you're using this receipt for something that you actually paid for then it's also going to go through the bank feeds so there's a couple different ways you might imagine using this feature that i can imagine using this feature right what one is that you're you're tracking your own receipts and so that you have some some evidence of the payments that you're making so you might be tracking your own receipts it becomes particularly important for small businesses for example to track receipts of things they might be they might be using when when they're using cash or a credit card that's not their business card or something like that and then they have to make sure that they properly add that item to their their account or you might be just taking a picture of the receipt so that you can have evidence and attach that to your quickbooks file so if you're taking a picture of it to attach it to the quickbooks file and you actually make electronic payments from your bank account then you would expect if you have the bank feeds set up that you would that you would have your your bank feeds it would come through the bank and then you can attach the receipt which can kind of automatically happen so if i go into this one for example uh it says that we found a receipt that matches this transaction and attached it for you so that's that's one way that you might be able to use this you might you don't want to double record the items in other words you don't want to record the receipt as something that's going to go into your checking account and your expense account and then record it again when the cash transaction happens what you would want to do in that instance is be able to match the two so that when the receipt comes through it's going to be attached to the expense form so that you have a little bit more evidence and audit trail related to that expense form now if you actually paid cash for something instead of an electronic transfer that's when it becomes more confusing on the tracking side of things so if you had an online business for example and you're paying everything online then the bank feeds work beautifully because then you're going to have the descriptions on the bank feeds and everything in order to allocate the proper amounts but if you have a business where you do some stuff with cash then that's going to be an area where you might want the receipts because as the cash goes through the bank feeds you're not going to have the same description and whatnot in order to properly categorize your items and therefore that could be a useful tool because you'll see that come through the bank feeds is just cash that you withdrew from your account and possibly you can use receipts to help you to verify those types of transactions now you also might have a situation where you paid for something with a personal credit card or or with cash from your personal account but it was a business expense or something like that in which case you might be tracking the receipt so you can pull that into your QuickBooks account so that you can record a transaction that's going to allow you to put the expense on the business side of things since you paid for something with the personal side of things so you might then track your receipts and possibly then record a transaction that that would would be the same amount of the receipt as a reimbursement for example so in other words if I paid for something from my personal credit card and it was a business expense then I might have my receipts in here and then I basically I would need to record that as an expense on my books here one way to do that is I can make a transaction which would basically be reimbursing myself meaning going out of my business account into my personal checking account and then assign it to the proper expense category like supplies or whatever like that that would tie into the amount of the receipt that's one way you can do it or if you don't actually want to take money out of the business account you could possibly use like a journal entry type of method to record a reimbursement which would be you know just debiting increase in the expense and the other side going to to draws for example or investments draws or some kind of equity account so we may take a look at some examples like that how that might how that might play out and then of course you might have contractors or employees that that you want to track their receipts in some way shape or form and in that case you might have for example an employee that has some access to be able to pay out of the business account or use like a business checking account for example and in that case it would be a similar situation as though you as a sole proprietorship were using this feature and using the receipts they might have the receipts and take a picture of the receipt and then when you see the information that goes through the banking account because they actually paid for it with the business credit card or business checking account in some way shape or form you will see that matching happen and you can match up the receipt to the payment you may also use the receipts as kind of a reimbursement tool so maybe they are paying for whatever they're doing as a contractor or an employee and they're showing you the receipt of what they paid for and then once you get the receipt you're going to reimburse them possibly based on it so that means that you are now going to make an expense payment based on the amount that they spent for the the the receipt and possibly then once that clears the bank you can tie that out to the receipt as backup or evidence of of of the payment that's been made now if we have other people that are that are dealing with the are working with us with these receipts and giving us receipts then there's this nice feature here where you can have a forward email you could basically set up a forward email so that the the people that are giving you receipts can basically just send it to the forwarding email which will basically just pull it into here so that's going to make it a little bit faster they can basically get the receipts and email them to this forwarding email which should pull them in here and that's a nice kind of streamlined way to get those receipts and then we can do whatever we're going to do with those receipts depending on what our flow structure is in order to use this however you have to set them up as a as a user of QuickBooks so we'll talk more about using that method in future presentations so that's the general overview now once the receipts are here you can review them and once reviewed then they're over here on the reviewed side of things so we'll go in we'll go in in future presentations and run a couple different scenarios of this we'll make up some mock receipts we will upload them here we'll think about a situation where we upload the receipts and then we match it to to the bank feeds to see how that would work and then we'll hopefully go in and and test out the managed forward email in some example problems as well