Tip #12 · 12 Nov 2026
A/P aging: see which bills are due and plan payments
Go to Reports and open Accounts payable aging summary. It shows what you owe each vendor, grouped by how overdue the bills are: current, 1-30, 31-60, 61-90 and over 90 days. Click any amount to see the bills behind it, or open the detail version to check each bill's due date. Review it every week and pay the oldest or most important bills first using Pay bills.
Why it matters: Paying vendors on time avoids late fees, protects relationships and keeps your cash planning realistic.
Tip #11 · 11 Nov 2026
A/R aging: see who owes you and send reminders
Go to Reports and open Accounts receivable aging summary. It groups each customer's unpaid invoices by how overdue they are: current, 1-30, 31-60, 61-90 and over 90 days. Click an amount to see the invoices behind it. To nudge a customer, open the overdue invoice and send a reminder, or turn on automatic reminders in Account and settings under Sales.
Why it matters: Following up on overdue invoices early keeps cash coming in and stops small balances turning into bad debts.
Tip #10 · 10 Nov 2026
Audit Log: see who changed what, and when
Click the Gear icon and choose Audit log under Tools. You will see a list of every change in the company file: who made it, when, and whether something was added, edited or deleted. Use Filter to narrow the list by user, date range or type of event, and click View on a transaction to see its full history, line by line.
Why it matters: When a balance suddenly changes, the Audit Log shows exactly what happened, so you can fix it fast and keep the books trustworthy.
Tip #9 · 9 Nov 2026
Keyboard shortcuts: work faster with Ctrl+Alt+?
Press Ctrl+Alt+? (Ctrl+Option+? on a Mac) anywhere in QuickBooks Online to open the full list of keyboard shortcuts. Useful ones include Ctrl+Alt+I for a new invoice, Ctrl+Alt+X for an expense and Ctrl+Alt+W for a check. Inside a transaction form, many date fields also accept + and - to move the date forward or back by a day. Keep the list open for a week and practise one or two new shortcuts each day.
Why it matters: When you enter hundreds of transactions for clients, shortcuts save real time and keep your hands on the keyboard.
Tip #8 · 8 Nov 2026
Cash vs accrual: choose your report basis
Open a report such as Profit and Loss. Near the top, find the accounting method (report basis) option, choose Cash or Accrual, and click Run report. Accrual counts income when you invoice and expenses when you enter a bill; cash counts them only when money actually comes in or goes out. To set the default for all reports, go to Settings > Account and settings > Advanced > Accounting.
Why it matters: The same month can show very different profit on each basis, so always check which one the client or their CPA expects.
Tip #7 · 7 Nov 2026
The 3 reports every client wants: P&L, Balance Sheet, Cash Flow
Go to Reports (Business overview) and open Profit and Loss to see income minus expenses for a period. Next open Balance Sheet to see what the business owns, owes and the owner's equity on a date. Then run Statement of Cash Flows to see how cash moved through operating, investing and financing activities. Set the same date range on each, click Run report, and use Export to send PDF or Excel to the client.
Why it matters: Together these three reports answer the client's main questions: did we make money, what is our position, and where did the cash go.
Tip #6 · 6 Nov 2026
Bank rules: let QBO categorize repeat transactions
Go to Transactions > Bank transactions (Banking in some versions), open Rules and click New rule. Name the rule, choose money in or money out and the bank account, then set a condition such as Description contains "Airtel". Pick the category and payee to apply, and choose whether matching transactions are only suggested for review or added automatically. Test a new rule on a few items in For Review before you let it auto-add.
Why it matters: Rules save time on repeat items like rent, bank fees and subscriptions, and keep categories consistent every month.
Tip #5 · 5 Nov 2026
Undeposited Funds: the holding account for customer payments
When you receive a customer payment or create a sales receipt, choose Undeposited Funds (called Payments to deposit in some QBO versions) instead of a bank account when several payments will reach the bank together. Later, go to + New > Bank deposit, tick the payments that were deposited in one trip and save, so the total matches the single line on your bank statement. Check this account regularly: old items sitting there usually mean a deposit was never recorded.
Why it matters: Grouping payments the way your bank did makes bank feed matching and reconciliation easy and stops income being counted twice.
Tip #4 · 4 Nov 2026
Bill vs expense vs check: which one to record
All three start from + New. Use a bill when a vendor invoice arrives and you will pay it later: it sits in Accounts Payable until you record it with Pay bills. Use an expense when you have already paid by card, cash or bank transfer. Use a check when you paid with a paper or printed check, so the check number is tracked.
Why it matters: Recording each payment the right way keeps your A/P balance, vendor history and bank reconciliation accurate.
Tip #3 · 3 Nov 2026
Invoice vs sales receipt: which one to use
Use an invoice when the customer will pay later: click + New → Invoice, pick the customer, add the products or services and set the payment terms. The amount sits in Accounts Receivable until you record the payment with Receive payment. Use a sales receipt when the customer pays on the spot: + New → Sales receipt records the sale and the payment together, so nothing is left owing.
Why it matters: Choosing the right form keeps your A/R balance correct, so you always know who still owes you money.
Tip #2 · 2 Nov 2026
Work your bank feed: For Review, Categorized, Excluded
Go to Transactions → Bank transactions (called Banking in some versions) and pick the bank account. The For Review tab holds newly downloaded transactions: check the payee and category, then click Add, or Match it to an entry you already recorded. Added items move to the Categorized tab. Use Exclude only for duplicates or personal items that do not belong in the books.
Why it matters: Reviewing the feed often keeps your books accurate and makes month-end reconciliation much faster.
Tip #1 · 31 Oct 2026
Reconcile your bank every month
In QuickBooks Online, go to Settings → Reconcile. Pick the bank account, enter the statement ending date and balance, then tick each transaction that matches your bank statement. When the Difference shows 0.00, click Finish now.
Why it matters: Monthly reconciliation catches duplicate entries and missing transactions early, before they become a big problem at year-end.
