Overview

Transactions are the DNA of your profit and loss report. This report is analyzed to provide quarterly estimated tax payment instructions, file taxes, and review reasonable compensation. To create this DNA you must categorize business transactions in QuickBooks Online (QBO).

Please have all business transactions categorized within 7 days of your QBO training.

Action

  1. Categorize transactions as income, expense, transfers, or balance sheet items.

  2. Short video by QuickBooks on categorizing business transactions.

  3. Longer guide by Collective on categorizing business transactions.

  4. Longer guide by QuickBooks on categorizing business transactions.

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