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QBO Video Courses

QuickBooks Cash + Envelopes


Course
Alicia Katz Pollock
Free
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Intuit has introduced a new integrated checking account right inside QuickBooks Online (QBO). The Cash Flow Center combines a checking account, savings envelopes, merchant service payments, and a cash flow planner all in one integrated interface.

Course Description 

Intuit has introduced a new integrated checking account right inside QuickBooks Online (QBO). The Cash Flow Center combines a checking account, savings envelopes, merchant service payments, and a cash flow planner all in one integrated interface.

 

QuickBooks Cash + Envelopes starts with a business checking account through Green Dot Fintech. The application process literally takes about a minute. The account itself has no monthly fees, earns 1% interest, and comes with a debit card.

 

It’s designed to be the deposit account for your QuickBooks Payments merchant services, to easily collect funds (if you don’t already have a QB Payments account, one is created for you during the approval process). You can also transfer money in and out of it from your regular operating accounts.

 

QuickBooks Cash + Envelopes also leverages the Profit First idea that for your business to be successful, it’s a good idea to set aside funds for your profit, your owner pay, your payroll, taxes, equipment purchases, and a rainy day fund. You can create up to 10 envelopes that are true subaccounts of the checking account. You can move money in and out as needed, but any money in the envelopes is calculated separately from the main checking account. Each envelope incurs its own interest.

 

If you create an Employee Payroll envelope and use QuickBooks Online’s built-in Payroll, your payroll will be automatically drawn from the envelope!

 

The Cash Flow Center also includes a Planner to look at how upcoming income and expenses will affect your bottom line. Even if you don’t have a QuickBooks Cash checking account, you can still turn on this dashboard widget in QuickBooks labs.

 

The only drawback that I’ve found is that at this time, the Cash Flow Center is only available to business owners. Bookkeepers logging in through QBOA can only see activity in the Banking Feed. They have no access to the Envelope subaccounts.

 

I have been turning on this feature for all my clients, especially my solopreneurs who don’t already have a dedicated business account.

 

Because I myself have been lucky enough to have a separate QBO account (instead of using QBOA’s My Books), I’ve been able to start using this new checking account as a budgeting tool. I’m still using my regular bank’s operating account for some of my revenue streams, and dedicating this one to my QB Payments income and Payroll. It’s been working great!

 

And that 1% interest sure doesn’t hurt! Thanks, Intuit!

 

For more information, take a look at these resources:

QuickBooks Payments Merchant Services, free course.

Cash Flow Planner.



Instructional Level

Beginner through Advanced 

Course Length

25 minutes  

Course Credits

.5 CPE / Certificate of Completion

Delivery Method 

QAS Self Study 

Field of Study

Accounting

Prerequisites 

 

Who should take this class?

  • Business owners and employees who maintain their company’s financial records
  • Bookkeepers and Accountants who wish to brush up on their skills.

What You’ll Learn 

  • How to apply for QuickBooks Cash and Checking Account
  • How to set up envelopes
  • How to use envelopes

For more information regarding concerns, refunds, and program cancellation policies, visit our Terms and Conditions

 

Here is the course outline:

1. Download the Handout

Download the handout that goes with the course.

pageText Download the handout here

2. Watch the Videos: QuickBooks Cash and Envelopes

Intuit has introduced a new integrated checking account right inside QuickBooks Online (QBO). The Cash Flow Center combines a checking account, savings envelopes, merchant service payments, and a cash flow planner all in one integrated interface.

pageText Intro to the QB Cash + Envelopes Feature
pageText How to Apply
pageText Envelopes
pageText QuickBooks Payments and Merchant Services
pageText Cash Flow Planner

3. Take the Quiz

Take this quiz to demonstrate your mastery of the material. Pass the quiz with an 80% or higher to complete the Course, earn your Certificate, and win points!

quiz Participation Quiz

Completion

The following certificates are awarded when the course is completed:

Royalwise Credit Certificate
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