QuickBooks Online (QBO)

QuickBooks Online can be used for much more than basic bookkeeping. Depending on the client’s needs and subscription, features can include:

• Income & Expense Tracking
• Invoicing & Customer Payments
• Estimates & Quotes
• Bills & Bill Pay
• Bank & Credit Card Reconciliation
• Accounts Receivable & Accounts Payable
• Payroll Processing & Direct Deposit
• Federal & State Payroll Tax Filing
• Contractor Payments
• 1099 Tracking & E-Filing
• Sales Tax Tracking, Preparation & Filing
• Budgeting & Cash-Flow Tracking
• Financial Reports & Dashboards

For business clients, QBO can become the central financial platform we use to help keep day-to-day financial activity organized and current.

Depending on the services you need, we can use QuickBooks Online to help with:

• Bookkeeping and monthly reconciliations
• Customer invoicing and accounts receivable
• Vendor bills and accounts payable
• Payroll processing and filings (Federal and state)
• Contractor payments and 1099 filing
• Sales tax tracking and filing
• Financial reporting
• Budgeting and cash-flow visibility

Because the information is maintained in one system, business owners can have a clearer picture of income, expenses, cash flow, outstanding invoices, bills, payroll, and overall financial performance.

QuickBooks Online can also be useful for individuals who want more organization and visibility into their personal finances.

We can help use QBO to organize and track items such as:

• Personal income and expenses
• Household spending
• Monthly and annual budgets
• Medical expenses
• Charitable contributions
• Childcare expenses
• Rental income and expenses
• Self-employment income and expenses
• Other tax-related income and expenses

Keeping this information organized throughout the year can make budgeting easier and can also help provide clearer records when it is time to prepare your tax return.

QuickBooks Online provides reporting tools that can help turn financial activity into information you can actually use.

Depending on the client and setup, reports may include:

• Profit & Loss
• Balance Sheet
• Cash-Flow Reports
• Accounts Receivable Aging
• Accounts Payable Aging
• Payroll Reports
• Sales Tax Reports
• Budget vs. Actual Reports
• Customized Financial and Management Reports

For businesses, these reports can help with planning, budgeting, cash-flow management, profitability reviews, and ongoing business decisions.

For individuals, organized reporting can provide a clearer understanding of income, spending, budgeting, and tax-related expenses.

We use QuickBooks Online because it is:

Cloud-Based

Access financial information securely from virtually anywhere.

Flexible

QBO can support a wide range of personal and business financial needs.

Scalable

The system can grow as a client’s financial needs or business operations become more complex.

Connected

Bank and credit card activity can be linked directly to QBO to help keep records current and organized.

Real-Time

Current financial information provides better visibility throughout the year instead of waiting until tax time.

Collaborative

Clients and InstAdvisory can work from the same financial information, making ongoing support and communication easier.

Every client’s needs are different.

Some clients simply need help setting up or cleaning up QuickBooks Online. Others want ongoing bookkeeping, payroll, AR/AP, reporting, budgeting, or more complete year-round financial support.

InstAdvisory can help with:

• QBO setup and organization
• Chart of accounts setup
• Bank and credit card connections
• Cleanup and catch-up work
• Ongoing bookkeeping
• Payroll

• AR/AP
• Contractor and 1099 support
• Sales tax support
• Financial reporting
• Budgeting
• Training and ongoing QuickBooks support