3 Important Steps for Contractors and Service Businesses - QuickBooks Online
- STEVEN C RESUTA CPA
- Jan 28
- 2 min read
By Steven C Resuta, CPA - as published on LinkedIn
Getting started with QuickBooks Online (QBO) doesn’t have to be a headache. Whether you’re a contractor, an auto body shop, or a service business, mastering just three core areas can help you "unleash the benefits" of the platform and keep your cash flow positive.
Here is my quick-start guide to the three most important tasks every small business owner should master:
1. Master the Art of Invoicing
The goal is to get paid faster. In QBO, you can quickly add customers and specific service items (like "Flooring Installation" or "Remodeling").
Pro Tip: Use the Modern Invoice view to send payment links directly to your customers. They can pay via credit card, PayPal, or Venmo.
Mobile Power: If you have their permission, you can even text the invoice link and a PDF copy directly to their cell phone for immediate viewing.
2. Streamline Receiving Payments
Sending the invoice is only half the battle. When that check or electronic payment comes in:
Go to the + New menu to "Receive Payment."
The Grouping Trick: If you have multiple checks, use Undeposited Funds. This allows you to group them into one bank deposit that matches your bank statement perfectly, making monthly reconciliation a breeze.
3. Set Up Your Bank Feeds
Stop manual data entry! By linking your bank account, your transactions flow in automatically.
Simply categorize expenses (like "Repairs and Maintenance") as they appear.
The Accountant Advantage: When you add your CPA as a user, we can see these transactions in real-time to help with bookkeeping and tax planning behind the scenes.
The "Steve's Secret" Bonus Trick:
Need quick cash? Go to your Customer tab and click the orange "Open Invoices" bar. This instantly filters your list to show only the people who owe you money. You can select them all and fire off batch email reminders in seconds to get those funds moving into your account.
Ready to dive deeper?
Watch the full video here: 3 Important Steps for Contractors and Service Businesses - QuickBooks Online
If you need assistance "smoothing out the bumps" in your local business, I’d love to help you save on taxes and increase your profits. Let’s connect!
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