QuickBooks Online. Deposit form. Get ready to start moving on up with QuickBooks Online. We're going to be using the free QuickBooks Online Test Drive, searching in our search engine for QuickBooks Online Test Drive, choosing the option that has Intuit.com in it, Intuit being the owner of QuickBooks. We will be using the United States version of the software and verifying that we're not a robot. Zooming in a bit by holding down control up on the scroll wheel currently at 125% zoom in, noting that if I hit the cog drop down we're currently in the accountant view as opposed to the business view. We're going to be duplicating some tabs to put our reports in as we've done every time. Right click on the tab to duplicate it. Right click in the tab again to duplicate it again. Tab to the left as the tab to the right is thinking. We're going to go to the reports down down below and we are choosing the balance sheet report. Tab to the right and reports on down below. This time the profit loss, the P to the L, the income statement and scroll up top. We're going to do the range change changing the date range. We're going to go from <IP_ADDRESS> January 1st, 2022 to <IP_ADDRESS> December 31st, 2022 and run it and then I'm going to close the hamburger tab to the left and then scroll up changing the range from <IP_ADDRESS> to <IP_ADDRESS> tab January to December 2022. Run it to refresh it. Close the hamburger. That's the setup we do every time. Going to the tab to the left and then hitting the drop down. We've been focusing in on the customer side of things, the sale cycle, the revenue cycle, noting it will change depending on the type of industry that we are in or it will be different for different companies. In other words, the easiest cycle you might have is if you're just getting money from like YouTube or a gig work or Amazon and it's coming from the platform, you might use bank feeds to simply deposit it with the use of in essence a deposit form. So if you have that type of business and you're recording your sales transactions, you'll be basically generating deposit forms through the bank feed. The other way you might have things set up is you might have a cash register type of situation, which would be a cash based system, but not one where you can wait till something clears the bank. In that case, you would be making the sales receipts at the point of sale. You would typically have some internal control. So you would want to be tying out your sales records to the cash register, for example, and then make the deposit in our system using the deposit form in such a way that it'll be grouped in the same format that will be shown on the bank statements so that we can reconcile and we could fit the bank feeds in that kind of area as well. We'll talk about that more shortly. And then we've been focusing in on the full service accrual system, which is the invoice. So if you're in a type of business where you have to do the work first and then invoice the client, then the invoice increases the accounts receivable, then we would expect to receive the payment from the customer. We could record that receipt of the payment directly into the checking account, which in essence would be like a deposit using the receipt payment form like a deposit form, or we might put it into undeposited funds and then deposit it into the bank. And then we would have to think about how the bank feeds are going to fit into that if we're using those and how the bank reconciliation will work in that scenario. So let's run through that scenario again and then we'll end up at the end of the cycle. So we'll do the full accrual cycle ending up at the final stage, which is of course money increasing our checking account on the sales cycle of things. So let's first start off with an invoice. We'll make a couple different invoices so we can see some of the issues that could happen when we go through this full process into the depositing side of the money. So let's start with AAA. I'm just making up AAA again. So we've closed up the prior presentation. So we're going to start over every time with fresh data. I'm not going to put any email address. I'm going to go through this fairly quickly because we've seen it in the past and I'm just going to say this is a service item. Let's make it service one. I'm just going to say, well, let's add a new item. I'm going to say a new item and then we're going to add a service item. I'm just going to call it service one item. Copy that and description. I'll say it's for $230 whatever and it's going to go to the service account.  And so let's say that we had say two of those that comes out to $460. What's this going to do? It's going to increase the accounts receivable because it's an invoice by the $460. The other side is going to go to sales and that's it. Let's hit the drop down again and I'm going to say instead of save and close, I'm going to say save and new and do another transaction. So another transaction. Let's say this is for BBB tab setting up that one and this one we're going to say same service item we're selling service item one and I'll sell one of them this time for $230. This also is going to increase the accounts receivable other side going to the sales. Let's save it and close it this time. Save and close. Check it out on our financial statements. Balance sheet first. I'm going to refresh it and then I'm going to go into the accounts receivable and in the AR scrolling down we've got the AAA, the BBB, there's the $460, there's the $230. Scrolling back up then I can go back and let's go to the income statement profit and loss and scroll down and so now we've got the services here going into that item. There's the services. Scrolling back up and back to our report. Let's go back to the first tab. Now let's make actually one more. I'm going to do one more invoice and let's make it for CCC this time. You might have guessed for CCC and then save it and then down here we'll call it service item and let's say we sell three of these for CCC and same thing so I'll save it and close it. Now of course we would then track that and expect to be paid on those items. We could track those in the sales area that we talked about in prior presentation by looking at all the sales transactions and sorting them possibly by the open invoices for example. Close this out. Open items so there's those three. We can go to the invoices this way and look for the invoices. We can go to the customers and look for the items with the open invoices here. There's AAA, BBB and CCC. The point is that we're going to be receiving a payment on it in the in the next step so notice if I go to the receive payment and we saw the receive payment last time it connects to the invoice so the receive payment is going to decrease the accounts receivable and record the other side to some kind of cash account normally we go to undeposited funds. Now we're focusing in on the deposit side this time so just note that you could put this directly into the checking account which would make the receive payment basically like a deposit type form so let's just do that to see what it looks like in the sub ledger now you would only want to do this if this payment is going to be hitting your bank account in the same dollar amount meaning you're not grouping it with any other payments because for like cash or credit card groupings and that would happen if you got like an electronic transfer for that exact amount or like a check so we're going to save it and close it and let's just see what that looks like save and close so this is not exactly a deposit form but it in essence functionality is the same thing I'm going to run the report again go into my checking account and let's see what that one looks like scrolling down in our data so there's the AAA payment uh notice that it's in here it's increasing the checking account but it's not a deposit now the reason I point that out is because when you sort your data if you filter your data notice that the checking account has a many different kinds of transactions in it it's often the case that you might want to try to sort your data by increases and decreases and if you have to include the payments as like a deposit it's one more thing you kind of have to think about I kind of like to have all the deposits either be or increases be either deposit type transactions or uh or uh transfers so that's one thing to kind of consider but you should be able to tie this amount out to your bank feeds so you could connect the bank feeds if you have them turned on to to this amount because when it goes to the bank you can basically tie it out here so it should still work as long as you don't have a grouping kind of problem if I go into that then that goes into my my receive payment which functionality kind of worked like a deposit form okay closing that back out scrolling back up and there was that the other side of it went to the accounts receivable if I go into the AR we can see the accounts receivable goes up and then down for that amount now the other two let's let's assume that we're going to use the other method for the other two and put them into undeposited funds and then deposit them and we'll talk about why to do that so let's go to this one let's go to BBB let's say we just receive payment for this one and I'm going to say BBB 222 I'm going to say this time I'm going to put it into undeposited funds that's going to be a clearing account a grouping account it's not going directly into our checking account yet because I have an issue one or a couple reasons you could be one I have an issue with groupings to make sure I group it in my checking account in the proper way that it's going to show up on the bank statement and two maybe I just like to see all my checking account to have an actual deposit form for the increases instead of having the receive payment form so I'm going to save and close and then the other one was the odus money was ccc receive payment and so I'll do the same thing here it's going to go to undeposited funds so let's save and close that so now those two items went into undeposited funds let's check that out go into my tab to the right and I'm going to go to the run report and if I go into my my undeposited funds there's this clearing account now note this is is basically a cash account which you would expect to be up here in the checking account it's down here because it's not functionality working in the same way as a checking account you're not connected to bank feeds and everything but this is basically cash that you're holding on to or don't want to put directly into your checking account until you group it in the proper format and when you put it into the checking account you want to do it in such a way that it'll tie out to the bank which you can match with the use of the bank feeds or with the bank reconciliation process so so that's undeposited fund was impacted with that last transaction so here are those two and then if I go back on up the other side went to the accounts receivable went down and it went into undeposited funds so okay so now we're going to make the deposit into the checking account with a deposit form now note when you when you think about the deposit form if I hit the plus button you can see it's actually over here on the right hand side it's not in the customer area you would think that basically it's part of the customer cycle the sale cycle but there are times when you might get a deposit that's not coming from a customer such as for example you the owner puts money into the company you want to make sure that that gets recorded not as revenue and then you might get a loan for example which might be a deposit that's not going through the customer cycle but hopefully most of the deposits are coming through you know the the customer cycle so if you're going to be entering like like a deposit that's going through undeposited funds so anytime I'm entering a deposit that is going to be going through this account of undeposited funds then I'm going to want to use this deposit form generally that's the general rule because it'll have another little item within it to basically group those deposits together we'll see in a second if you have another kind of deposit such as a such as a deposit that's coming from you the owner or from the bank or then and it's not tied to this grouping issue you might just go right into the check register so the check register could be the easiest way to enter a deposit or the bank feeds right the bank feeds can come through if you don't have an issue and you can record the transactions with a bank feed but for now we're going to assume that deposit we're looking at these deposits that make up that that 298252 in undeposited funds so let's open the bank deposit form and you can see that right here there's the 298252 that's the amount in undeposited funds these are the transactions right here that make up that amount that are coming through from either the receive payments or the sales receipts which are like the credit which are like the the cash register type of transactions so now we're able to say okay i'm going to take these two items right here because i'm going to deposit those two items together into the system and that's going to be the purpose of this because why would i do that because now it's going to show up on the bank statement because i physically deposited let's say these two cash at the same time or these two credit card transactions got grouped together when they hit the bank account i want them to show up on my system in the checking account as 920 not as 230 and not in 690 because i if they're two separate amounts i won't be able to reconcile either with the bank feeds or with the or with the uh the bank reconciliation or at least not easily i'll have to do added work so that's the point so what's this going to do it's going to be a checking account so it's going to be increasing the checking account you could choose a savings kind of or multiple checking accounts here's the date that we would have tags if applicable and now we're ticking these off now if it was some other kind of thing meaning like i was putting money into the system then i can do the receive from here and just give the account the account might be simply going into like an equity account my investment account if i put the money in or a loan payable so i'll talk more about that in a second let's record this save and close so this is a deposit form so it would do what you would expect it's going to be increasing the checking account so if i go into the checking account we're going to say okay i would have an increase to the checking account of the deposit so there's the 920 notice it's in there as 920 not the two separate amounts if i go into that amount it takes us back in to the source document of these two items being checked off right there 920 closing that back out scrolling up to the top back to my report the other side is in undeposited funds let's run it again i don't think i refreshed it it's an undeposited funds which isn't yet down to zero because it has some other items in it but the undeposited funds is going to go up and then it's go going to go down and notice here you it shows you the the detail so it's and that allows you to kind of take and tie so it's kind of nice that shows you the increases and the decreases so you can kind of i've taken tie out the amounts here so there's undeposited funds should go up and then it should go back down okay so then if i go back to the to the first tab the other ways that you might have a deposit is you the owner might put money into the business so if i if i was to i could do that with a deposit form hitting the drop down go into a deposit and i could say instead of checking off one of these items i'm just going to say i'm not going to put a receive from it because it's for me i can put the owner and i can put some kind of equity account would be the the point here so let's say their owner's equity let's say it would be like owner owner owner investment and i'm going to i'm going to say that's going to be an equity account owner investment and there we go so i set it up hopefully i set that up as an equity account and then you can say the payment was one thousand dollars or something like that payment method payment one thousand dollars and and the other way that you might get a deposit is a loan loan payable loan payable and you get let's say two thousand dollars so we'll put so we might just enter a transaction into the system thusly and you can use these items down below to do that you want to make sure that if you're getting if you're the one one putting money in or if you got a loan you didn't record these deposits to an income account otherwise you're going to overstate your income and if you have income taxes you're going to be paying taxes on the money you got from a loan or investment which isn't good so if i record that then of course i go to my balance sheet i've got an increase in the checking account so the checking account should go up by those those amounts there's the deposit i put it as a lump sum and the other side is not going to the income statement but instead it's going to the owner investment account and the loan payable account that we increased so that's the other way we can enter a deposit now oftentimes if i go to the first tab the other way you can enter a deposit that sometimes is faster or more intuitive to some people if you're entering like a lot of deposits from a bank statement or something is to go to the register which you can find by hitting the carat here we can go down to the accounting and i'm going to see your chart of accounts close the carat now now the register is something we usually think about with the checking account but you have a register for every kind of balance sheet account the income statement accounts do not because they're a different kind of account so i could think about it as increases or decreases to a register so if i go into a register for example i've got my drop down forms right here check deposit sales receipt that that that that i could choose a deposit and then i can say that this is going to be whatever i'll i'll just make a deposit of uh five thousand dollars other side go into loan payable again just to practice loan payable and then if i record that notice if i go into the detail on it it's still a deposit form so it's just a quicker kind of easier way possibly to enter a deposit so if you're entering a lot of transactions if i go into it it's still just a deposit form and you can see it populated down here so a lot of times when you have a quick transaction field like the register here it will still not default to a journal entry but a deposit form and you're even selecting in essence a deposit form just in a in a quicker or a little bit different layout for the deposit and that's the same with the bank feeds so lastly let's think about bank feeds which under the accounting view is under the banking and then on the bank feeds if i close if i close up the hamburger if you're in like a gig work situation and you've got the receive items now note if you're not in a gig work situation you'd have to match up your the money that you received to like the invoice or to the receive payment or to the sales receipt uh or to the deposit you'd have to see where the where it's gonna match up but if you're just gonna record a deposit and then just record it as income because it's gig work like it's you got it from youtube or something like that and that's how you're gonna run your system because you're in a fairly simplified kind of accounting system due to the industry you're in then you could take the description add the payee for example and then you could you could add the category which would be some kind of income account typically if it's coming from a customer so i could say new i'm just gonna call it an income account i'm gonna say this is gonna be just income test account and save it and then and so now you've got your same data now once again it's gonna basically record a deposit because this is a bank feed so it's increasing that's what bank feeds have they have increases or decreases to the checking account but the format looks a little bit different here but when you go back into it it'll just be a deposit so once again you've got the increase in the dollar amount that's given to you by the bank you've got the date which is basically which is given to you by the bank and then you're adding the payee which hopefully you can find from the bank memo or description and then you are adding the account based on what you got the money for and then i could add that and if i was to go find that let's just go to the income statement to find it and the transaction was in 2023 apparently 010123 to 01 or let's say 123123 run it and then so there it is so if i go into that amount and then there's there it is now the point i'm trying to make here is that it's still put it in place as a deposit so if you drill back down on it then you're still going to find a deposit form it's not going to be going to the the the form of the bank feed it's not going to show you the same format of the bank feed so the takeaway from this i'm going to close this back out is that if you hit the plus button up top remember that these forms quickbooks wants to use these forms to create the transactions and for good reason oftentimes because there's often other things that are designed to help facilitate the ease of the accounting system by using these types of forms so we might have some quicker ways to do data inputs such as the use of registers such as the bank feeds increases and decreases but the system will probably still try to default to a form if there is a form that relates to the normal accounting transaction and that's useful to know because it'll allow you to get basically drill back down on the on the information from the financial statements and see what is actually happening as you as you enter the data into the system so the general rule is if there's a day to day kind of transaction then one of these forms will be applied to it if there's not a form that applies to it because generally it's not a day to day transaction you want to think is cash affected because if cash is affected even if it's not a normal transaction such as me the owner putting money into the business or me getting a loan those aren't day to day transactions then because cash is still affected i might be able to use like a deposit form or if cash was going down a check form or expense form if it's not a day to day transaction and cash isn't affected that's when you might need to use the journal entry and that would be for example if i bought equipment and i financed the entire thing or something like that now that doesn't happen every day and cash isn't affected therefore i can't use a default form generally and i'd have to go to the journal entry remember that all these forms every financial transaction you do makes a journal entry in that we have the double entry accounting system two accounts are affected and so on but it's going to be doing so with the use of the forms because that's how the system is designed to work and then you only default to actually a journal entry entering with debits and credits if there's no other form that we can use okay so now let's hit the drop down on the cog and switch to a business view and just see where some of the stuff is located under the business view so the home page the get things done page on the left was here we still got the plus button up top that's where we have the invoice and the receive payment we've been working in the get paid area which is the sale cycle the revenue cycle where we have the get paid information we've got the customers sorting our invoices here is where we went we have our invoices that was sorted our items and then we also had all the sales transactions which are in a different area which is the banking or bookkeeping area and so that's under the transactions you could sort all your sales transactions here so we went into here possibly to find like our open invoices and so on and then we also had our bank feed information which you would think would be under banking but no it's also under the bookkeeping and then you're going to go to the transactions up top where it's like bookkeeping and then transactions and then you're on the bank transactions tab up top and then I'd have to close this out and then sometimes it does this on this test file it goes into there but then there's your banking information so once again those two the two layouts are similar all you know same areas generally that's just where they're housed could change slightly


Hi guys welcome to a new vlog. This vlog is the cheer live vlog I don't know how much footage or I'm allowed to film in the show, but I'm so excited I just can't wait. So I just want to film get some footage of the show and kind of like do a review As you guys know like I love the show the Netflix series cheer and when I saw that they were going on live tour I was like I need to get some tickets so got tickets and Now I'm gonna eat something before the show. It's at UCF. So it's like super convenient and not too far away And I'm just really excited. So Probably gonna get some forevers tonight. I'm excited I ate so much today because my boss brought in like these really good chocolate covered pretzels And then I had pizza because I had a meeting with our like general manager With a group of people.  So Yeah Today it's been a good day been eating like all day now. I'm gonna get some more food It has been forever since I've been in this for rivers And I think this is the original one like I don't know. I don't know though.  So make sure you follow me on instagram So I just got my usual mac and cheese fries and they actually like gave me like a lot of fries And I also have this chicken Okay, so I was joking around saying that I feel like I'm gonna be like the only adults here But because there's like so many like little kids like wanting to see a show obviously with their parents So it's okay. I'm gonna enjoy myself and enjoy my time watching the show But I just think it's so funny. So I feel like I'm just like so random to go to something like this, but I'm excited I know the cast is excited about the show, but are you guys excited for the score as many points as possible? And we're so glad you chose us Please take your seats and direct your attention to the front of the plane As we take a moment to review the safety features of this aircraft There's like too much dance, but like I don't think that because they still do like stunts and stuff So I think it's really good and I think it's a good balance I mean, obviously you guys know like they probably need a break after like going full out for certain numbers and stuff I I say numbers because that's like dance terminology But after they do their routine full out like obviously they need a break So like they have like little other things in the show and stuff So overall, um I think it's a thumbs up. I would definitely go again and I was sitting in like the perfect spot Um, and there was like no one in front of us But these like little girls but they were short so it didn't really matter But yeah, I just really really like the show if I think of anything else when I get home I'll let you guys know but I just want to give my like official. Sorry.    It was good But I just thought that was really funny. Okay, so I'm literally using my coffee to Hold you guys up. I'm standing you guys up And I'm just filming this on my phone because all the other clips are on my phone But I wanted to talk about a few things. So I wanted to talk about the duration of the show It was a solid two hours, which I was surprised about like my mom and I were thinking that it was probably going to be shorter because like We didn't know what we were expecting. So I was thinking it would be like an hour and a half roughly um But like they went the full two hours and there was actually an intermission which I was shocked about Overall, I think you definitely get your money's worth of like a really good high quality performance Um, they're tumbling and skills were all like super clean Um, no, I'm not a cheer professional nor like know a lot of the terminology But like because I danced and stuff like I can tell like anyone can tell something sloppy But they were very clean and I loved All of the pieces pieces. I loved all the routines and stuff My favorite one though was definitely the airplane one where They were pretending like they were taking off, you know Fasten your seatbelts and then they threw in like cheer terminology in that in like the voiceover stuff and then they came out with these like the little wands for Directing an airplane. I thought that was so cool and it was different. I really enjoyed that. That was my favorite I also wanted to talk about really quick I love the fact and I was telling my mom this when I got home and everything that I love cheer just because of the environment and that like Everyone wears the same uniform and you're on like a team I mean dance is similar I've mentioned this before but I mean in certain dances. There's different roles and like It's not a bad thing because like it's a story you're telling and everything and everyone has to fill a role But like in cheer, you know, everyone wears the same uniform. You're on the same team and You know, everyone has to pull their weight just like in dance, but still it's like You know, if the base or like the back spot doesn't do their job Then like the whole stunt could fall down and I just I really like the sport and I wish that like if I could go back And cheer was the way it is today That I would definitely cheer Because I feel like I would excel in that sport and that's probably why I'm just become like such a cheer fan because I see a lot of cheerleaders more with like my body style and everything And yeah, I just I like the different levels like you gain skills you go up levels Age groups and everything with dance. It's just kind of like beginner intermediate and advanced at like competitions But I like the will you have to be You have to have a back hand spring to be on level two. Like I like the rubric It's a little bit more structured and I get that cheer is definitely an objective sport but um dance is more objective like it's more about opinion really for like the judges and stuff I just like a little bit less objective And yeah, like if they make a mistake, you can clearly see it And if they don't then you can clearly see it. Like I kind of like that. Maybe that's just my analytical side coming out Okay, I just wanted to add this too. I'm in my work office space now Um, but I was so surprised. There was no like mess ups in the show. There was one bobble But like that was a two hour show guys and like No one messed up or if they did like I didn't notice or realize it So just found that to be like kind of crazy And yeah, I wish I could have cheered like back in the day Um, but I definitely know cheer isn't the way it was back in the day since it's come a long way But still um going back Um, I would have loved to like have that experience if I think it would be like super cool So probably if any of my if I have kids I mean Julie or whatever Definitely putting them in cheer because I don't know. I just really like the sport So anyway, I hope you guys enjoyed this vlog. Give it a thumbs up if you did don't forget to subscribe I'll see you guys in my next video. Bye