​Recently, QuickBooks Online rolled out an update to its receipts feature and you need to know about it! It will save you time and even money by eliminating the need to subscribe to other receipt storage systems. You have three options to upload receipts. 

Using QuickBooks Online Desktop.

• Login to QuickBooks Online on your desktop.
• Click the Banking menu, select the Receipts Tab. 
• Drag and drop receipts directly into QuickBooks Online, or select Browse to upload them. 

Using email.

• Setup a custom email address. Go to the Banking menu, then select the Receipts tab. It'll walk you through the steps.
• Email or forward receipts to your customized email address. Attach receipts to the email—receipts sent in the body of the email will not work. If you send a file it should be a pdf, jpeg, jpg, gif, or png. Note: You can send multiple receipts in one email. But the total file size should be under 20 MB. Also, be sure each image or file contains only one receipt.​

Using the QuickBooks Online app on your phone.

• To scan a receipt, install the "QuickBooks Accounting" app on your phone. 
• Open the app and tap the menu button. 
• Select Receipt Snap and take a photo of your receipt. 
• It will automatically appear in the Receipts tab with any other receipts you've added. 
• Use your computer to manage your receipts from there.

Bonus Tips: 

• No matter which way you choose to upload receipts, you'll see them under For Review in the Receipts tab. From there match each receipt with it's transactions in QuickBooks Online.
• Be sure that each image or file contains only a single receipt.
• ​File size cannot exceed 20 mb.
• Processing might take a few minutes. If something didn’t quite work, you’ll get an email that lets you know.

One of the best ways to streamline your invoicing process is to setup your Products and Services list in QuickBooks Online. Here's how:

• Log into QuickBooks Online, hover over the Sales tab and click Products and Services.
• Click New on the top right.
• Choose the correct category: Inventory, Non-inventory, Bundle, or Service. Read through each description if you need help deciding. 
• Name your service/product and choose a category which helps you classify and organize the things you sell.
• Optional: add a description that will show up on the sales form. 
• If you fill in the price/rate box it'll automatically fill in the pricing on your invoices.
• Choose an income account or create a new one. You want this to correlate with the product or service since it shows up as a line on your Profit & Loss Statement. For example, I have a service called Monthly Bookkeeping (surprise!) and the income account I use is Monthly Bookkeeping. When I look at my Profit & Loss Statement, I can see how much I made from Monthly Bookkeeping. Note: You do not need to setup a separate income account for each service you offer. You may generalize the categories to fit your needs.
• Finally, check the box if it's taxable and choose the sales tax category. Click Save.

Now your product or service is setup and ready to go!

When you first started your business you probably set up an Excel spreadsheet to track your income and expenses. This is great for when you're beginning. It is simple and economical. But it is not a long term solution. Once your business has more than a handful of clients and your monthly transactions start to grow it's time to make the switch to accounting software like QuickBooks Online. Here are five signs it's time to make the switch:

1. You catch yourself making mistakes on your spreadsheet. We have all done it. We hit the wrong key or insert the wrong formula and instantly the spreadsheet is inaccurate. Because there is no easy way to reconcile it with your bank statement each month you may not even notice the errors. This can lead to compounding problems and headaches later. When you use accounting software you can link your bank account and do monthly reconciliations (or have your bookkeeper do them) ensuring your financial records are accurate all the time.
2. Your Excel spreadsheet is rarely up to date. You probably dread opening the file and neglect it for weeks. Unlike spreadsheets your accounting software receives real-time data from your bank meaning you’ll have up to date records with hardly any effort.
3. You need more detailed financial reports. All good accounting software options have built-in reports, which will give you insights into areas where you can improve your business finances. For example, a profit and loss statement will show you the income and expenses for a particular time period. By examining these reports you will be able to determine which service brings in the most money and which expenses you need to cut back on.
4. You want someone else to have access to your financial records (i.e. your tax accountant). Accessibility is limited when using a spreadsheet. You will likely have it stored on one computer. And even if you have it on Google Sheets you may not want an accountant to see certain parts of the spreadsheet (like where you're projecting income for next year or experimenting with different price points). When you use cloud-based accounting software you can login from your computer, smartphone, or tablet (or your grandma’s computer for that matter!). It also makes it easy to add other users (like a tax accountant or bookkeeper).
5. Your financial processes are scattered. You receive payments using PayPal, Square, Stripe, Dubsado and it's confusing! Sometimes invoices go unpaid because it's hard to track them. Expenses can go unrecorded because you pay them so many different ways its hard to remember to record them all. Accounting software consolidates tasks like invoicing, accepting payments, and tracking expenses into one place so you won't feel scattered anymore.

If you have reached the point where your spreadsheet system is more overwhelming than helpful and you aren't sure if it's accurate, it is time for you to find an accounting software that is right for you. I always recommend QuickBooks Online.  ​