Quick Create

Quick reference

• 00:04 In this video I want to talk to you about the quick create button.
• 00:08 In the homepage video I described the quick create button is the plus sign in
• 00:12 the upper left hand corner.
• 00:13 Throughout these videos I'm going to refer to it either as the plus sign
• 00:18 in the upper left hand corner or is the quick create button.
• 00:21 So let's dive into that a little bit further.
• 00:23 When I click on the plus side in the upper left hand corner, a menu pops out.
• 00:28 As a reminder, if you don't see these four columns, you might have clicked this blue
• 00:32 hyperlink in the lower left hand corner that says, Show Less.
• 00:36 I'm going to click it now so
• 00:37 you can see what it might look like when you click on the New button.
• 00:41 You might have something just like this, with only four menu options.
• 00:45 I'm going to click on the blue show more so they can see all of my options.
• 00:50 I'm now looking at my options and
• 00:52 I can see I have options that relate to customers, options that relate to vendors,
• 00:57 options that relate to employees, and options for other.
• 01:01 I want to pick a few of these and
• 01:02 just kind of explain what they are because I think it'll be useful for you to know.
• 01:06 And also we're going to cover them in depth in later videos.
• 01:10 So under the customers column, the first one is Invoice and Invoice is something
• 01:14 you send to the client when you're asking them to pay you later.
• 01:18 A good example of an invoice is your cell phone bill.
• 01:21 Your cell phone company says here's a bill be great if you can pay it in
• 01:26 the next 30 days.
• 01:27 Down below is receive payment,
• 01:29 receive payment means that somebody has paid their invoice.
• 01:32 So when you write a check or you automatically debit or
• 01:36 whatever the case is for that cell phone bill.
• 01:39 On the receiving end your cell phone company, they're saying so and so,
• 01:43 has paid their bill.
• 01:44 And they pop into their version of QuickBooks or whatever they're using, and
• 01:48 they say receive payment.
• 01:50 Underneath that is estimate, not every business will use estimates.
• 01:55 If you're the kind of business that does use estimates, you can do that in
• 01:59 QuickBooks and it will allow you to create an invoice from the estimate.
• 02:02 And also give you just a one concise place to keep track of what estimates
• 02:07 you've given to various potential clients.
• 02:10 Down below is the credit memo, the credit memo is different from the refund receipt.
• 02:16 So credit memo means, I have an ongoing relationship with a client and
• 02:19 I'm going to put a credit on their account.
• 02:22 The refund receipt says, I have a relationship with my client, but
• 02:25 I'm not putting a credit on their account, instead,
• 02:28 I'm just going to refund them their money.
• 02:31 So when you think about giving someone their money back or giving them a refund,
• 02:35 if they're actually going to get money from you in QuickBooks,
• 02:39 you're going to create a refund receipt.
• 02:41 But if you're just saying, well, I'll tack a credit on to your ongoing account,
• 02:45 then you're creating a credit memo.
• 02:47 It's okay to create a credit memo and
• 02:49 later refund the money if it turns out that that's what's appropriate.
• 02:53 Another type of form in QuickBooks that sometimes feels a little bit confusing to
• 02:58 a beginning user is the sales receipt.
• 03:00 The sales receipt is much like the invoice, it's where you say, customer,
• 03:04 you've bought this thing from me and I'd like you to pay me for it.
• 03:08 The difference between a sales receipt and
• 03:10 an invoice is the sales receipt gets paid automatically and right away.
• 03:15 So a good example of a sales receipt is if you go to the mall and you buy something,
• 03:19 you're buying it and you're getting a receipt right away.
• 03:22 A different type of example is if you ever have,
• 03:25 like you take a car to the shop, right?
• 03:27 When you pick your car up from the mechanic shop,
• 03:30 the mechanic is going to ask you to pay immediately.
• 03:33 And so they're going to create a sales receipt.
• 03:35 They're doing this because they want to keep track of who their client was and
• 03:39 what they sold their clients.
• 03:40 But they're not asking you to pay later, they're asking you to pay now.
• 03:43 So a sales receipt is the same thing as an invoice except for
• 03:47 the difference being sales receipts are paid immediately.
• 03:50 And invoices are just, I'm sending a bill to my client,
• 03:54 I'm asking my client to pay me whenever, hopefully soon.
• 03:57 All right, let's zip over to the vendors column.
• 04:01 Under vendors, we have two things that seem very similar,
• 04:04 there's expense and there's check.
• 04:08 When you create an expense, you're saying okay, QuickBooks, I've spent some money.
• 04:12 And maybe that money came out of my checking account, maybe that money came
• 04:16 out of my credit card, but I've spent some money and I'd like to log it.
• 04:20 If you instead choose check, you're saying, okay, QuickBooks,
• 04:24 I spent some money, and this money came out of my checking account for sure.
• 04:28 I'm going to write down the check number that I used, or
• 04:31 I'm going to write down ACH, because its automatically drafted.
• 04:34 If you're using a check, but you don't want to remember joining Ts expense or
• 04:39 doing Ts check, you can always use expense, you do not need to use check.
• 04:44 The only time that you definitely need to use check is if you're going to print
• 04:48 the check on a check paper.
• 04:51 Beneath that you have Bills, Bills are when you log you have an expense but
• 04:55 you haven't yet paid it and you'd like QuickBooks to remind you to pay it later.
• 04:59 If you do create a bill, you'll have to go back later and pay the bill, so
• 05:03 that's the pay bills feature.
• 05:05 I'm going to zip over to the other column.
• 05:07 In the other column we have a couple things I want to talk to you about,
• 05:11 the bank deposit as the first one.
• 05:13 In later videos, we're going to talk about a term called undeposited funds,
• 05:18 undeposited funds is the bank deposit.
• 05:21 And essentially what you're going to use this for
• 05:23 is if you're ever taking two checks to the bank at once, or more than two.
• 05:27 Or if you have a situation where money gets deposited, but before it's deposited,
• 05:32 there's a fee taken out, you're going to use this bank deposit feature.
• 05:36 A really good example of that is if you collect money via PayPal or via Stripe,
• 05:41 sometimes they'll take a 3% fee and then they'll give you your money.
• 05:45 You want to logck the customer pays you in full for the goods or services, but
• 05:49 you also want to lock the deduction.
• 05:51 Your US bank deposits take care of both of those things,
• 05:55 I'll definitely show you that in a later video.
• 05:58 And then transfer down here, a transfer is when you're saying,
• 06:01 I'm going to take money from one account, and put it in another account.
• 06:05 So that could be checking a savings, or savings to checking,
• 06:08 or it could be checking to American Express, or checking to Visa.
• 06:12 You're basically just saying, I'm transferring money from here to here.
• 06:16 I'm not, it's not an expense, I didn't buy anything, I'm paying off for,
• 06:20 I'm transferring to my savings.
• 06:21 And it shows the world as an income because again,
• 06:24 it's just me moving my money from place to place.
• 06:27 In later videos, we're going to talk about these things in more detail.
• 06:30 I just wanted to give you a quick overview of what you're going to see
• 06:33 behind the plus sign of the quick create button.

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