You can add new accounts on the fly, but I like to do it from my chart of accounts, as shown above, so that I can see the whole picture of all of my income accounts together. This is why you need to know what your income accounts are either before or during this process of setting up your products and services.
I often set up the categories just like I do income accounts. This is optional, but if you do have different categories such as courses and coaching programs, then the categories come in handy when you are managing your products and services in QuickBooks Online. If you have different versions of the same product on your sales channels, then you’ll want to keep a list of each version of the product and its SKU on the sales channels, alongside the “Master SKU,” which is the SKU in QuickBooks Online. Sometimes it’s easier to use this for mapping purposes, but, in general, it’s good to have a SKU for each product as well. This will make it easier when you are mapping your products from your sales channel(s) to QuickBooks Online. I will discuss this below and, of course, in the video:Īs a general good practice, make sure the name you give your products in QuickBooks Online is consistent with how they are named on your website or sales channel. Even if you sell a digital product, such as a Template, you want a Service. This is what you want for any kind of course or coaching program.
Just like the chart of accounts, you have a green New button at the top right.Ĭlick New and choose Service.
LEARNING QUICKBOOKS ONLINE HOW TO
How to add a new product in QuickBooks Online Then, click the green New button at the top right and create a new account:Ĭlick Save and Close, and you’re all set. Let’s add an account for your coaching programs. How to add a new accounting in QuickBooks Online This keeps your profit and loss statement simple and easy to read, while you can still get the “data” when you want it, in terms of which courses are selling and other key information. Then, you will have a separate product for each course that is mapped to the income account called “Courses.”
You might offer many courses, but you only need one income account for courses. Once you know how to import one kind of transaction, you understand the mapping process, and it’s very easy to figure out how to import a sales receipt, for example.īefore we can start recording sales, let’s create our products in QuickBooks Online.Įither before or while we are creating our products, we’ll need to set up our chart of accounts. And, FYI, I do teach how to use SaasAnt to import banking transactions in my Bulletproof Bookkeeping® Mastery Course with QuickBooks Online. I won’t be going that deep here, but I will go over the process of what this looks like in QuickBooks Online, so that you can understand what needs to be done in SaasAnt when and if you decide to use it.
LEARNING QUICKBOOKS ONLINE UPDATE
Once this process is set up, it’s very easy to update your sales in QuickBooks Online. I use this, and then I use SaasAnt Excel Transactions to Import the activity. What Kajabi does have that is very useful is a GREAT sales export. I tried using Zapier, but you have very limited access to information. Kajabi does not have an integration with QuickBooks Online. The first thing that happens in your business model is that someone signs up for one of your courses or other programs. But I want you to understand that if you are using something else, all you have to do is figure out what the equivalent process would be in your platform. In my case, I use Kajabi for everything, so I am going to incorporate that into some of what I am going to show you here. Your offerings may take on many forms, but they will all boil down to one of those top-level items. Other training materials (Templates, PDFs, eBooks, and more).If you are offering these services, then you are likely offering one or more of the following: And, as someone who serves in the training and coaching industry – specifically as an expert in QuickBooks® Online and accounting and bookkeeping – I have a few thoughts and points of view on how to set up and run your training or coaching business in QuickBooks Online.
I should know! This is the industry I serve in primarily. The training and coaching business is a multibillion-dollar business.
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