Streamlining Your Finances: Transitioning from QuickBooks Self-Employed to QuickBooks Online

Streamlining Your Finances: Transitioning from QuickBooks Self-Employed to QuickBooks Online

In the dynamic world of self-employment and small business ownership, your financial management needs can evolve rapidly. If you’ve outgrown the capabilities of QuickBooks Self-Employed and are seeking more comprehensive solutions, it might be time to make the leap to QuickBooks Online. In this guide, we’ll delve into the reasons behind this transition and provide you with an in-depth, step-by-step process to seamlessly switch from QuickBooks Self-Employed to QuickBooks Online.

Why Make the Switch?

QuickBooks Self-Employed serves as a valuable tool for freelancers and solopreneurs to monitor income and expenses. However, as your business expands, you’ll find QuickBooks Online offers an array of enhanced features tailored to the needs of growing ventures:

1. Advanced Accounting Capabilities: 

Unlike QuickBooks Self-Employed’s simplified accounting approach, QuickBooks Online boasts sophisticated features such as double-entry bookkeeping, customizable chart of accounts, and comprehensive accounts payable and receivable management.

2. Collaboration Flexibility: 

QuickBooks Online lets you grant access to multiple users, fostering smoother communication and data sharing among team members and external partners, such as accountants.

3. Inventory Management: 

If your business revolves around products and inventory, QuickBooks Online provides indispensable inventory tracking and management features that are absent in QuickBooks Self-Employed.

4. Robust Reporting: 

The rich array of customizable reports in QuickBooks Online empowers you to gain deeper insights into your business’s financial performance and overall health.

5. Scalability:

 QuickBooks Online seamlessly scales with your business growth, eliminating the need for future transitions to more robust platforms.

A Step-by-Step Guide to Transition

Making the switch from QuickBooks Self-Employed to QuickBooks Online requires careful planning and execution. Follow these steps to ensure a seamless transition:

1. Evaluate Your Needs

Begin by assessing your business’s current and projected financial requirements. This analysis should encompass factors like the number of users who need access, inventory management necessities, and the extent of reporting you need for strategic decision-making.

2. Back Up Your Data

Before initiating any changes, ensure your QuickBooks Self-Employed data is securely backed up. Export critical data, including transaction history and essential reports, to safeguard your financial records.

3. Choose the Right Plan

Visit the QuickBooks Online website to explore the range of subscription plans available. Each plan caters to different business sizes and needs. Choose the one that aligns with your business requirements and growth trajectory.

4. Migrate Your Data

QuickBooks offers a data migration tool to facilitate the smooth transfer of your information from QuickBooks Self-Employed to QuickBooks Online. This process involves moving customer and vendor data, as well as historical transaction details.

5. Configure Your Chart of Accounts

Customize the chart of accounts in QuickBooks Online to mirror your business’s organizational structure and financial categories. This step ensures accurate financial tracking and reporting going forward.

6. Reconcile Transactions

Thoroughly review and reconcile your transactions within QuickBooks Online. This meticulous process guarantees the accuracy and integrity of your financial records, a critical aspect of maintaining healthy business finances.

7. Invite Relevant Users

If your business involves collaborators, team members, or an accountant, extend invitations to them with appropriate user permissions within your QuickBooks Online account. This collaboration feature fosters seamless teamwork and effective financial management.

8. Embrace the New Features

With QuickBooks Online’s expanded suite of features, take time to familiarize yourself with its capabilities. Dive into the world of advanced reporting, efficient inventory management, and the array of tools designed to streamline your financial processes.

Transitioning from QuickBooks Self-Employed to QuickBooks Online is a significant step towards optimizing your financial management processes as your business flourishes. The comprehensive features, scalability, and advanced accounting functionalities offered by QuickBooks Online provide a solid foundation for efficient business financial management. By meticulously following the step-by-step process outlined in this guide, you’ll be well-equipped to smoothly navigate the switch, ensuring that your financials remain in order while you concentrate on driving your business towards greater success.

Ready to simplify your financial management? Discover a smoother transition from QuickBooks Self-Employed to Online with Lee Davis And Company. Explore now!

Read more posts by Lee Davis

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start
  5. Getting your SBA Loan Approved
  6. Steps Before Setting up QuickBooks
  7. Lee Davis and Company Management Services

Set Up your Business with Quickbooks Detailed Start

If you are looking to set up your business with Quickbooks Detailed Start, this is the post for you. I love helping clients succeed with Quickbooks and that starts with a proper setup, so I’m glad you found this post.

Hopefully, I can give you the tips you need to set up your business with Quickbooks detailed start, so your Quickbooks run seamlessly. If you find yourself with a lot of errors, however, check out these post:

  1. How to fix errors in Quickbooks


Sign up for our Free Mini-Course on How to Get Started in Quickbooks!

Choose between Express Start and Detailed Start

I have clients who are setting up Quickbooks for the first time who ask the question about the difference between setting up Quickbooks using Express Start (recommended for new users) compared to selecting the button called Detailed Start. This blog will outline the benefits of setting up Quickbooks using detailed start.

Quickbooks Detailed Start

When setting up Quickbooks if you click on detailed start you perform all the basic setup functions with some added benefits.  Those added benefits are:

A. Clearly Defines Your Business by Asking Questions About:

  1. What you sell
  2. How your customers pay you
  3. How you pay your bills.

Based on the answers Quickbooks sets preferences for the company file. The preferences enable certain features of the Quickbooks program.  

B. Questions About What You Sell

Answer the questions about what do you sell?

  1. Services only
  2. Products only
  3. Both services and products

C. Questions About How You Enter Sales

In the how you enter your sales in Quickbooks window, you choose the option that best fits your business needs.

My Tips for Entering Sales:

  1. Record each sale individually. You can use print sales receipts to give customers.
  2. Record only a summary of your daily weekly sales. If you use a cash register to ring up individual sales, you can enter the sales total for the days work in Quickbooks.
  3. Use Quickbooks point of sale. You can send the details of each individual sale into Quickbooks with just one click.

D. Entering Sales Tax information

In this part of the Easy Step interview the software asks you whether you charge sales tax. I want to caution you here, you should turn the sales tax setting off only if you never charge sales tax. Furthermore, sometimes it is beneficial to turn this feature on for tracking wholesale/retail sales, depending on the tax reporting regulations in your state.

E. Creating Estimates

If you provide any type of estimates or bid-even verbal quotes, there are many reason to use estimates in Quickbooks

  1. Prepare professional-looking itemized estimates, bids or proposals for your customers.
  2. Create an invoice from the estimate with just one click.  In fact, Quickbooks then creates an invoice using the information from your estimate.
  3. Create reports that compare your estimated costs and revenue against your actual costs and revenue.
  4. Compare your actual costs against what you estimated.
  5. Track which estimates are still active and easily update each estimate as you continue to negotiate with your customers.

F. Creating Sales Orders

Sales orders allow you to record an order for a sale before the sale actually is made. These forms are common in businesses that order products to fill orders or that pull orders from inventory before invoicing.

G. Choose remaining preferences

1. Billing statements  – Post statement charges independently of invoices & sales receipts.

   2.  Progress Invoicing – Create single estimates to invoices in phases.

   3. Bill tracking – Use the Accounts Payable module to track bills and bill payments.

     4. Inventory – Use inventory module to track inventory quantities and values.

     5. Track time – Use timecards to track employees and subcontractor time, and bill customers.

     6. Employee – Use payroll module to manage employee information and payroll.

You are not stuck with Detailed Start.

You can always change preferences setting later, after the detailed start has been completed. Changing the preferences later can be done by:

  1. accessing the Edit menu
  2. choosing preferences
  3. then selecting the preference type in the left panel

Tip: Choosing a Start Date

The start date is the date for which you give Quickbooks a financial snapshot of your company assets and liabilities before you start entering live transactions in Quickbooks. It is generally the last day of the previous fiscal period.

Why use Quickbooks Detailed Start?

The value of setting up Quickbooks with a detailed start means is that you spend less time adding information later. 

At Lee Davis & Company, we can assist you in setting up and training you in your new adventure called Quickbooks.

Lee Davis standing outside in the sunshine
Lee Davis

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. Quickbooks Training
  4. Management Services

Read more posts by Lee Davis 

  1. Main Street Relief Fund Application
  2. Getting your SBA Loan Approved
  3. Growth Mindset Development
  4. Adding Clients in Quickbooks

The Value of Doing a Good Job

What is the value of doing a good job? Attraction. There are a lot of bookkeepers in the world, but how many of them are doing a good job? I’m not sure. There are probably quite a few good bookkeepers, but from what we have seen at Lee Davis and Company, there are quite a few bookkeepers that are not doing a good job.

This is true of most fields. It is hard to find a good… (fill in the blank). How many times have you heard that? I’m guessing quite a few times. Thus, I hypothesize that there are a lot of people doing an average job, but few doing a good job.

There are a lot of reasons for this.

  1. They don’t know they can do better. (think they can’t)
  2. They don’t know how to do better. (don’t have the right mentors)
  3. They don’t know why they should do better. (need a stronger “why”)
  4. They are not doing a job that is in their zone of genius. (not suited for bookkeeping)
  5. They don’t spend the time necessary to do a good job. (too overwhelmed with work)

This week’s How I Rocked the Week pertains to this because this week Lee cleaned up a company’s bookkeeping mess. By reading this post, I hope you can see the importance of doing a good job. There are many benefits to doing a good job. Read about those benefits at the bottom of the post.

How I Rocked the Week – Week of July 13th

Lee Davis and Company received a referral from a CPA firm last week. The company the CPA firm referred needed immediate help with their bookkeeping and business operations. They had been without their bookkeeper and had had two bookkeepers since loosing their full-time person. Lee was so happy about getting this referral because we specialize in helping companies who need to have their messes cleaned up.

Lee is trained in Quickbooks both the desktop and the online products. Thus, he has the skills necessary to fix the problems that led to the bookkeeping mess. To fix the problems, Lee went right to work and made a few changes to Quickbooks. The changes brought order and efficiency to the clients books. Lee was so happy that he had the necessary skills to fix the client’s problems and save him time with future bookkeeping.

Here is what our client has to say after working with Lee Davis and Company for only two days: “Thank you for your assistance this morning; it was a huge help, and thank you for all you accomplished so far in straightening out the mess all the bookkeepers left.” 

It is our experience that often times businesses need help because their bookkeeping is a mess. That’s where we come in. Lee Davis and Company specializes in creating organization through automating transactions and balancing peoples books.

This helps our clients get a handle on their finances, which helps them make decisions that will support future growth. Thus, we move our clients from scattered to organized to accomplished.

Our success in cleaning up messes has lead to many referrals and continues to fuel our business.

Could this be you? Are you having trouble balancing your books? Are you frustrated because you’re spending too much time on your bookkeeping? 

We can help you work on your business while you work in your business. 

Benefits of Doing a Good Job:

Lee has always made it his goal to work as hard for his clients as possible. That means that he goes above and beyond for his clients. In fact, this week he helped one of his clients move furniture, which isn’t in his job description!

The benefits of doing a good job are abundant.

“I can look my clients square in the eyes and tell them that the job is done.”, says Lee.

By doing a job well done, Lee Davis and Company can expect:

  1. Trust
  2. More business
  3. Respect
  4. Confidence
  5. Expanded business

If you hire Lee Davis and Company to do bookkeeping and more, you can expect the same for your business. We aim to grow your business into a more trustworthy business that garners respect and more business.

Lee Davis from Lee Davis and Company on the Value of Doing a Good Job
Lee outside

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. Quickbooks Training
  4. Management Services

Read more posts by Lee Davis 

  1. Main Street Relief Fund Application
  2. Getting your SBA Loan Approved
  3. Growth Mindset Development
  4. Adding Clients in Quickbooks

Adding Customers in Quickbooks

Adding customers in Quickbooks is an essential tool that Quickbooks offers, but I fear that many of my clients either don’t use the tool or don’t use it to its full potential. Thus, because I want to help more people use Quickbooks to its full potential, I would like to share with you how to add customers in Quickbooks.

Your Customer List is the list that will display sale forms (sales orders, estimates, invoices, sales receipts) and accounts receivable. Here are some steps that will help you get this very important task completed in Quickbooks.

Adding Customers in Quickbooks

1. To add a Customer

There are multiple ways to do almost anything in Quickbooks. To access the Customer Center, you have four options:

How to:

   1. Click Customers from the left hand or top icon (depending) on your View settings)

   2. Choose Customer Center from the Customers drop down in the menu bar.

   3. From the Home Screen, click on the blue Customers tab in the Customers section.

   4. Press CTRL+J

2. New Customer & Job

How to: Click the New Customer & Job Menu button, and than choose New Customer.

3. Customer Name

Definition: In the Customer Name field enter the name of the customer as you’d like to see it appear on your Customer & Job List. 

Tip: – Instead of filling in the Customer Name field, fill in the Company Name field, and it will populate the Customer Name field for you.

4. Opening Balance

How to: Press Tab in the Opening Balance field to leave this field blank.

Definition: The Opening Balance field tells you how much each customer owes you on your start date.

Why: The reason you need to use this field is that when you enter the rest of your transactions from the day after your start date, all balances since your start date will be accurate.

Tip: You should enter individuals outstanding invoices one by one whenever possible, rather than entering the outstanding balance owned in the Opening Balance field. (This will allow you to enter payments and be able to apply those payments to the open invoices.)

5. Complete Customer contact information

Tip: Pay close attention to getting the correct email addresses from your customers.

Sending your Invoices  & Customer Statements by email, will ensure you are paid as quickly as possible and your customers will enjoy the convenience of receiving an electronic invoice.

Conclusion – Adding Customers to Quickbooks

I hope this helps you understand adding Customers to Quickbooks. My goal with this blog and my training company is to help entrepreneurs use Quickbooks to better understand their business, so that I can help entrepreneurs strengthen their businesses.

Lee Davis - President of Lee Davis and Company
Lee Davis – President of Lee Davis and Company

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. Quickbooks Training
  4. Management Services

Read more posts by Lee Davis 

  1. Main Street Relief Fund Application
  2. Getting your SBA Loan Approved
  3. Growth Mindset Development

We are hiring an admin!

If you are looking for a job and have experience with admin work, bookkeeping and sales, we would love to hire you. Here is what we are looking for!

Job Description – Admin/Sales/Bookkeeping for Lee Davis & Company


  • Grow the overall program to deliver 9 Zoom classes a year 
  • Responsible for coordinating and marketing courses, finding 10 students for each session
  • Work with our team to develop the delivery of individual mini courses for purchase
  • Assist the team in making a better product using all technology available
  • Learn and grow the training business.


  • Prior experience with Quickbooks desktop and online products or be willing to be trained by Lee Davis and Company and seek additional training on your own time
  • On site client work with special projects inside Quickbooks
  • Cleaning up messes, working with Lee to develop systems and protocols to complete projects from start to finish in a cost effective manner.
  • Provide bookkeeping and financial services to new clients and support our existing clients
  • Lee Davis and Company will provide training and help with certification. We, however, do not provide training hours that are not considered billable to the client.
  • Within six months you must pass the certification for Quickbooks desktop and online


  • will require work at least four days a week in my Peterborough office.
  • will start at a hourly-pay rate of $18.00 
  • has an opportunity for an incentive bonus if fill courses.  
  • After the first 90 days, you will have an opportunity to increase the hourly rate by showing that you understand the clients and their financial performance.

Our ideal candidate:

Someone who:

  1. Has the above experience
  2. Is looking to grow and learn
  3. Likes creative pursuits
  4. Is interested in small business development

Does this sound right up your ally?

Respond to this post, or email Lee at [email protected].

Growth Mindset Development

Growth mindset. You hear that phrase everywhere, but what does it mean? It means that you believe you can grow. It’s simple but powerful. Now, why is this something you have to intentionally develop? There are a lot of negative forces bearing down on you that try to say that you can’t grow and change, but if you believe you can change, you will change. Mindset is everything.

Therefore, push for the stars by believing that you can grow. Yes, you have limits, but your attitude needs to be, “Today I can learn something new. Today I can get just a little bit better at that thing that I’m not good at.” If you believe that, you have a growth mindset.

Entrepreneurship is the ultimate way to develop a growth mindset. This is because you will be forced to do things out of your comfort zone, just because you are the only one who can do it. Does this mean that you have to be perfect at everything? No, but it does mean that you will get better at a lot of things that you shied away from in the past.

Do things that scare you.

What scares you? Go towards it. If public speaking frightens you, spend every week working on your public speaking. The better you get at that particular skill, the more you will believe in yourself. This will help you develop a growth mindset. With a growth mindset, entrepreneurs can do anything. Without a growth mindset, you are confined to a box, which limits your potential as an entrepreneur.

Growth Mindset at Work at Lee Davis and Company

At Lee Davis and Company, we believe that our clients are all special and unique and that each one of them has something to contribute to the world. We would like to help you develop a growth mindset, which will bring your company to the next level.

Lee Davis and Company is focused on supporting their clients in business and bookkeeping so that you can grow your business beyond your wildest dreams.

We hope this posts inspires you to try new things. Erase the word “can’t” from your vocabulary and replace it with “can do that better”.

Rocking the Week of July 5th

Lee had an adventure with a client that needed her payroll files retrieved from Quickbooks. The client had maxed out her storage space on her Windows computer and wasn’t able to do a backup of her Quickbooks file. 

Lee is a man of many hats in his business.

Although Lee is not an IT specialists, he is called on to fix messes, which require utilizing the tools within Quickbooks to retrieve his clients computer files. Solving problems that involve computers is not the kind of work that Lee is used to doing; it is out of his comfort zone. But, because Lee is an entrepreneur and wants to do everything that he can to help his clients. Thus, he used his training, for both the desktop and online Quickbooks products, to retrieve the client’s Quickbook files on her computer. 

A CPA once told Lee the strength of his company is that he knows how to work within Quickbooks and utilize the tools and resources Intuit offers Pro-Advisors. Thus, in this instance, Lee was able to use Quickbooks to solve the clients problem by retrieving lost information. By doing so, Lee was able to pay the client’s employee and transfer her files to the cloud. 


What Lee learned this week is that no matter the obstacle, he will work to solve the problem. By having a positive attitude and utilizing all the resources at his disposal, he can take on any challenge. This week at the end of the day, Lee had a very happy client, and Lee felt a sense of accomplishment. 

Lee hopes that you learn from his experience and try to tackle those tasks that you’re not comfortable with. For Lee, working out of his comfort zone meant that he gained more confidence in his skills as an entrepreneur. He hopes the same for you.

What new thing are you going to do today?

Tips on Developing a Growth Mindset

How will you push yourself to be growth minded? There are so many things you could do. Start with something little. Exercise, for example, is a good way to build a growth mindset. Do a kind of exercise that you didn’t think was possible. Work on it every day and document your progress. Every time you make progress towards your goal, remind yourself that you are making progress and that you didn’t think you could do that before.

Growth = Happiness

Human beings need to feel like they are making progress. In fact, that’s where true happiness lies. Therefore, go out, grow your business and be happy. Bless this world by making your business as amazing as we know you can.

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. Quickbooks Training

Read more posts by Lee Davis

  1. Main Street Relief Fund Application
  2. Getting your SBA Loan Approved

Main Street Relief Fund

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Visit Us

Address: CoWork Peterborough, 6 School Street, Peterborough, NH 03458

Location: Across from Toadstool Bookstore parking lot and next to Movie Theater

Address: 836 Old County rd South, Francestown, NH, 03043


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