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

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!

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  6. Steps Before Setting up QuickBooks
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QuickBooks Self-Employed Training

30-Minute Uncommon QuickBooks Self-Employed Training

At Lee Davis and Company, we offer periodic 30-minute QuickBooks Self-Employed training sessions over Zoom that are interactive and designed with the learner in mind.

Compact for the Entrepreneur

These training sessions are meant to address some of the most common problems that our clients have with QuickBooks Self-Employed. As entrepreneurs ourselves, we know that it is difficult to find time in a busy schedule to gain a necessary skill. Thus, we have made this session concise and essential.

The Tips and Practice You Need to Succeed:

Our goal is to give you the tips and practice for QuickBooks Self-Employed that you need to succeed?

What are your issues with QuickBooks Self-Employed?

Do you have some specific problems that you are having with QuickBooks Self-Employed.

We have identified three of the most common problems users have with QuickBooks Self-Employed, and we will address those in this training session.

If we don’t address your specific questions during the training session, you can schedule a follow-up with Lee Davis, our QuickBooks Pro Advisor.

What makes us different?

A small business helping other small businesses

Lee Davis and Company is a small business that loves helping other small businesses succeed. Currently, we are helping over 40 clients in the New Hampshire area rock their QuickBooks.

Interactive Format

You could find a free tutorial on QuickBooks Self-Employed like this one. But in our training session, we will give you the tips that you need to succeed and we will answer your personal questions.

QuickBooks Self-Employed Training

If you notice, in the comments for this YouTube video, there are many questions that the viewers have, but there are no responses to the questions.

As a Pro-Advisor, Lee Davis can answer some of your specific questions that you have during the Zoom training session.

Designed with the Learner in Mind:

Furthermore, the father-daughter team of Lee Davis and Megan Davis designed this QuickBooks Self-Employed Training session to meet the needs of our clients.

Megan has a master’s degree from Boston University in Education and 10 years of experience designing learning materials, and Lee is a QuickBooks Certified Pro-Advisor with 40 years of management experience.

With their combined experience, Megan and Lee have designed a course that will help you understand and retain the information you learn.

Not Just a Lecture

Many of the training sessions available online for QuickBooks are just in a lecture format. There are no opportunities to practice what you learn.

YouTube has some good introductory information.

Again, you can find many lectures on QuickBooks Self-Employed that you can find on YouTube, like this one.

If this works for you, you should do the free course on YouTube. If you want, on the other hand, a training course that is designed to make sure you walk away with new skills, sign up for our training session.

The Format

of our QuickBooks Self-Employed

Training Session:

The course has an awesome format that will help you learn a portion of the material, apply the material and address issues that may arise in the application of the information.

  1. Issue #1 – (4 minutes) Lee discusses a common issue in QuickBooks Self-Employed
  2. Problem – (4 minutes) Check if you understand the material by doing a problem.
  3. Follow-up Questions – (2 minutes) Lee responds to one question about the material.
  4. Issue #2 – (4 minutes) Lee discusses another common issue in QuickBooks Self-Employed.
  5. Problem – (4 minutes) Check if you understand the material by doing a problem.
  6. Follow-up Questions – (2 minutes) Lee responds to one question about the material.
  7. Issue #3 – (4 minutes)Lee discusses a common issue in QuickBooks Self-Employed
  8. Problem – (4 minutes) Check if you understand the material by doing a problem.
  9. Follow-up Questions (2 minutes)- Lee responds to one question about the material.

This is a foundational class for QuickBooks Self-Employed. If you have a question that is not answered in our training session, we would like you to sign up for our individual training session or our four-part training course.

What this QuickBooks Self-Employed training course isn’t:

Moreover, this course isn’t like most accounting courses you’ve taken because we will not overwhelm you with information, and we will ask you to apply the information that you learn right away to test your understanding.

Get the Feeling of Accomplishment

If you are looking for that feeling of accomplishment from knowing, understanding and being able to use QuickBooks Self-Employed, this training is for you.

Everyone can master the QuickBooks software.

We believe that everyone has the ability to learn a subject. They just need the right coach and learning strategies to succeed at any learning endeavor.

Thus, all of our QuickBooks training courses are designed with this belief at the forefront; we believe that everyone can succeed at mastering the QuickBooks software, and we design our courses to make sure you do succeed.

This QuickBooks Self-Employed training course isn’t comprehensive.

This course is designed to give you some tips that will help you succeed when using the product. If you need an introduction and overview of QuickBooks Self-Employed, you should check out a free tutorial on YouTube or from Intuit.

Our 4-Part Zoom Course

If you need something more comprehensive, we suggest you take our four-part training course. You can take the course in its entirety or you can sign up for an individual section of the course.

We employ the same learning methods and strategies in our 4-Part Zoom Course to teach you how to use QuickBooks.

It starts with you!

Moreover, do you believe it? Do you believe that you can become better at using QuickBooks?

It starts with you. You need to believe, and then give us permission to teach you. We would love the opportunity to challenge any old ideas about accounting or QuickBooks.

Are you ready to better understand your business by understanding your numbers? We would like to help you with that.

When is our next QuickBooks Self-Employed Training Session?

November 9, 2020 at 10AM.

Where is our QuickBooks Self-Employed Training Session?


Sign up for the training session:

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

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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