This content was created by Ronika Khanna. This content was uploaded by Ronika Khanna. This is a YouTube video titled "How to Use The Built-In Calculator in QuickBooks Online" created on September 23, 2023, featuring Ronika Khanna. The video provides a tutorial on using the built-in calculator feature in QuickBooks Online to perform calculations directly within transactions, such as invoices, to save time and avoid manual calculations.
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Hello everyone. So one of my favorite features in QuickBooks Online is the ability to do calculations directly within the transaction that you are entering. And this was also a feature in QuickBooks Desktop that they brought over to QuickBooks Online and I really love it, but I'm a bit of a QuickBooks nerd. So anyway, let's see how this works. Let's pull up an invoice by going to the plus new on the left hand side. Let's select Invoice.
And then let's set up your invoice as you normally would. Choose a customer from the drop down. All of the other information, the invoice date, we'll keep it as today's date. The invoice number is automatically assigned in this case and let's select a product or service. An audio recording device is a good one in this case and you'll see that it populates with a rate of $125. However, I want to add a markup to this of 50% and so rather than pulling out a calculator and manually doing the calculation I can see simply do it indirectly within this field. And to do that I would click on the Star multiply button, enter 1.5 which is a 50% markup, and then put my cursor anywhere outside of this box and then it automatically updates to 187.50 which is a 50% markup on this invoice. It also updates the tax and the total. This is a small time saver but can add up if you're using it on multiple transactions and I particularly enjoy that I can avoid the hassle of having to do the calculation manually. It should be noted that this can be used on any transaction, so it could be bills, expenses, even journal entries. If you put in an amount of any amount and you can add a markup to it or do a calculation.
Whether it's addition, subtraction, multiplication, division, etc. So I hope this helps. For more QuickBooks tips, please like subscribe and leave a comment if you have any questions about QuickBooks Online and I will try and make a video about it. Have a great day.
