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When you have a long list of projects  and need to shorten that list by deleting or archiving, ZipBooks gives you a quick way to do it. Here’s how: Sign in to ZipBooks and select Tracking from the menu Click on Projects and find the transactions you want to delete or archive. Check the boxes […]

The term “line item” refers to any service or product added to an invoice, along with any quantities, rates, and prices that pertain to them. On your ZipBooks account, these are called Items (for products you sell), and Tasks (for services you perform). All line items are underlined in the above image Sometimes, you’ll have […]

All financial reports are built up from debits and credits that make up all the recorded transactions, also called “journal entries”, on your general ledger, so here’s a quick accounting review before we dive into an intro on the two most important financial reports, or you can just jump to the income statement guide or […]

Here at ZipBooks, we’re working hard to make accounting simple enough for anyone to understand. So, let’s break it down. Essentially, there are two solid ways to do accounting: double-entry accounting and single-entry accounting. So, which one is better? That gets a little more complicated. It depends on what you want to do. Double-entry accounting […]

The main type of tax you will collect from customers is sales tax, unless you conduct business in one of the five states that don’t require these taxes (Alaska, Delaware, Montana, New Hampshire, and Oregon). Do some preliminary research to find out if your state requires a sales tax permit, and where and when you should […]

Double-entry accounting is a method in which every transaction recorded will have a corresponding entry in at least one other account. The transactions are normally opposites, meaning that if a transaction results in the increase of one account, there would also be a decrease in another account. Here’s an example: You own a small shipping […]

A chart of accounts is a group of accounts (or categories) used to classify or define a business’s financial transactions as revenue expenses, assets and liabilities. In ZipBooks, we refer to the chart of accounts as Categories. When you set up a ZipBooks account, you’ll find that there are up to 73 accounts (or categories) […]

The main difference between a purchase order and an invoice is the person who is responsible for creating them. Purchase orders are created by a business who plans to purchase goods or services from another business. Invoices are created by the business providing the goods or services. The purchase order outlines what products or services […]

ZipBooks gives you intelligent insights about your business so that you can make decisions in an even smarter way. We’ve created the Invoice Quality Score to help you know where you are with your invoices: how they rate on a scale from 1 to 100. The higher the score, the more likely you are to […]

Estimates and invoices in ZipBooks are very similar in appearance and function. The main difference is that an estimate (also sometimes called a bid or a quote) is a proposal of services or sales, and what they will cost if a customer hires you. An invoice is a bill for those products or services once […]