QuickBooks Online

10 QuickBooks Online Survival Tips for Small Businesses

Stakeholders discussing about using QuickBooks for their business

Managing a small business can be challenging, especially when it comes to handling finances. QuickBooks Online is a powerful tool designed to simplify accounting tasks, but maximizing its potential requires a bit of knowledge. Whether you’re a new user or looking to enhance your skills, these survival tips will help you navigate QuickBooks Online effectively, ensuring you stay on top of your business finances with ease.

1. Customize Your Chart of Accounts

The Chart of Accounts is the backbone of your QuickBooks Online setup. Customizing it to fit your business’s specific needs is crucial. Start by categorizing your income, expenses, assets, and liabilities accurately. This not only helps in better financial tracking but also makes reporting more meaningful.

A well-organized Chart of Accounts ensures that your financial statements are clear and precise. It allows you to quickly identify where your money is coming from and where it’s going. Regularly review and update your accounts to reflect changes in your business operations.

2. Utilize Bank Feeds

Connecting your bank accounts to QuickBooks Online can save you countless hours of manual data entry. Bank feeds automatically import transactions, making it easier to reconcile your accounts and keep your books up to date.

To get the most out of bank feeds, ensure that you categorize transactions regularly. This will help maintain accurate records and provide real-time insights into your cash flow. Additionally, setting up rules for recurring transactions can further streamline the process.

3. Leverage QuickBooks Online Mobile App

The QuickBooks Online mobile app allows you to manage your finances on the go. With features like expense tracking, invoicing, and receipt capture, you can keep your books updated even when you’re away from your desk.

Using the mobile app ensures that you never miss recording an important transaction. It also allows you to stay connected to your business, providing instant access to critical financial information anytime, anywhere.

4. Automate Recurring Transactions

Automating recurring transactions, such as monthly bills or subscription fees, can significantly reduce your workload. QuickBooks Online allows you to set up recurring templates, ensuring that these transactions are recorded automatically at specified intervals.

This not only saves time but also reduces the risk of errors and ensures that your accounts remain accurate. Regularly review your recurring transactions to make sure they still reflect your current business activities.

5. Regularly Reconcile Your Accounts

Reconciling your accounts is a crucial step in maintaining accurate financial records. It involves matching your QuickBooks transactions with your bank statements to ensure they align.

Regular reconciliation helps identify discrepancies early, allowing you to address them promptly. It also ensures that your financial reports are reliable, providing a true picture of your business’s financial health.

6. Utilize Class and Location Tracking

For businesses with multiple departments or locations, class and location tracking can be invaluable. These features allow you to categorize transactions based on specific business segments, providing detailed insights into performance.

By utilizing class and location tracking, you can generate reports that highlight the profitability of different areas of your business. This information is crucial for making informed decisions and strategic planning.

7. Take Advantage of Online Invoicing

QuickBooks Online offers robust invoicing capabilities that streamline the billing process. You can create professional invoices, set up recurring billing, and accept online payments directly through the platform.

Online invoicing speeds up the payment process, improves cash flow, and reduces the time spent on manual follow-ups. It also provides customers with a convenient payment option, enhancing their overall experience.

8. Monitor Cash Flow Regularly

Cash flow is the lifeblood of any small business. Regularly monitoring your cash flow in QuickBooks Online helps you stay ahead of potential financial issues. Use the cash flow statement and other reports to track incoming and outgoing funds.

By keeping a close eye on your cash flow, you can make proactive decisions to ensure your business remains financially healthy. This includes adjusting spending, securing funding, or planning for future expenses.

9. Integrate Third-Party Apps

QuickBooks Online integrates with a wide range of third-party apps, enhancing its functionality. Whether you need advanced inventory management, time tracking, or CRM capabilities, there’s likely an app that fits your needs.

Integrating these apps with QuickBooks Online can streamline your workflows, reduce manual data entry, and provide a more comprehensive view of your business operations. Regularly review available integrations to find new tools that can benefit your business.

10. Keep Up with Training and Updates

QuickBooks Online is constantly evolving with new features and improvements. Staying up-to-date with these changes ensures that you can leverage the latest tools and functionalities to manage your business more effectively.

Invest in training for yourself and your team to keep your skills sharp. QuickBooks offers a variety of resources, including webinars, tutorials, and certification courses, to help you stay informed and proficient.


Implementing these survival tips can transform how you manage your business finances with QuickBooks Online. From customization and automation to regular monitoring and continuous learning, these strategies will help you optimize your use of this powerful tool.

For those who want to leverage the full benefits of QuickBooks Online, contact Paygration. With expert support and tailored solutions, Paygration can help you get the most out of QuickBooks Online. Get started by calling 866-949-7267 or clicking the link below.

Have Questions? Need Help?

If you have any questions about the features of QuickBooks Online, you can give us a call at 866-949-7267 and one of our experts can walk you through the details. 

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