Summary

In this chapter, you have learned how to handle many special transactions in QBO. You may be able to take advantage of a few of these now or keep them in your back pocket for later on when you need them. To recap, you now know how to set up and track payments for a business loan or line of credit. We also discussed the importance of recording bad debt expenses, which you now know how to record in QuickBooks to ensure that your financials are accurate. We covered how to issue a credit memo for products/services that did not meet the customer’s expectations, as well as how to refund receipts for customers who don’t have an invoice to apply a credit memo to. Finally, you learned how to record delayed charges and credits commonly used by landscaping and maintenance industries to track routine services provided to customers that will be billed monthly.

In the next chapter, we will cover the pros and cons of connecting your online store, like Shopify or etsy to...