Year-End tips for QuickBooks Online

year-end tips

Here are my year-end tips to help you save time and save money going forward for your business.  Yes, I am back singing the praises of my favorite app, Hubdoc.  But it truly is a real time-saver.   If you hate data entry, Hubdoc will do this for you.  In the video, I demonstrate two ways to get documents into Hubdoc if you are still receiving bills via snail mail, aka US Postal Service.   Just scan and drop or email to  your Hubdoc account.  I also demonstrate how to code in the bill so the next time you won't have to process it. 

Year-End tips: add receipt in Hubdoc (saves time)

Super simple method.  Many days, I get my mail, open it, sort it, scan it.  Then I open Hubdoc and drag and drop the bills into the add receipt window.  

Year-End tips:  email the bill to your Hubdoc account & auto sync (saves time)

You can do this directly, by having the vendor email it to your unique email address provided by Hubdoc. Here are the steps:

  • Just click settings while in Hubdoc
  • Scroll down to where you will see the "uploading files via email".  
  • Hubdoc will generate a unique email address for you.  Note: you can edit it and make it shorter or something you will remember.
  • Email that scanned bill to that email address.  
  • The bill will magically appear in your Hubdoc feed.  Wait 24 hrs. and if you have it auto synced, it will do the entry for you.

Year-End tips:  pay bills out of your online bank account (saves money)

This is a bit time-consuming.  But most of the services that allow you to pay directly out of QuickBooks online have a fee.  QuickBooks Online has a service via Bill.com for that.   But it is pricy.  

What I do for some of my customers is get the vendor balance summary report.  Then they can make their bill payments one time per week using this list and a pre-set up Online bill pay with their bank.  

When the bill payments come in via the bank feed, I code them to accounts payable and then go to + pay bills and clear the bill entries.  

For my businesses, I just log in, pay the bills online. As I create the bill payments, I enter the payment confirmation code as my check/ref number.  No checks to buy, no stamps to purchase.   The bank sends the payments out for me.  I also preset the payment date and pay them on or about their due date.  So, it is a weekly task, but I clear the bills off the screen and schedule them to be paid in the future.

Last Year End tip:  Look for the little things....

Lastly there are plenty of ways you can go through your Profit and Loss and look for savings.  Sometimes it is merely going thru your vendors. Use the transaction list by vendor report.  See what you have spent your money on for 2017.  Notice is you have any subscriptions that are just not necessary anymore.  Sometimes we forget to cancel something or it is something that is barely noticed because it is a small amount monthly that is auto charged to your credit card.  But every penny counts.  

For other posts on year end, see year end payroll housekeeping tips for year end and the ever so important list for getting ready to process your 1099s.

I hope you all have a wonderful Christmas and holiday season!  I will be heading north leaving 80 degrees to go to 20 degrees!   But to see my grandson, Shane, it is all worth it!  Hug your children and family this Christmas season.  Life is so precious. 

If you have any questions or would like to see a future video on another topic, please reach out to me on Facebook.

Lynda Artesani

Lynda Artesani is the president of Artesani Bookkeeping where she uses her expertise and organizational skills to help her clients thrive and become profitable. Lynda is a member of the Intuit Trainer Writer Network. She is an alumni member of the Intuit Advisory Board. Additionally, she is the first Expert Columnist for the QB Community forum. She is also a co-founder in a Facebook group called QB Community Live!