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  • Bank Reconciliation Tips and Tricks
    Bank Reconciliation Tips and Tricks

    Tweet Although it may seem like drudgery, reconciling your bank account is a critical accounting task that you should carry out each month. Doing so helps ensure the integrit [...]

    Read more
  • Overlooked Reports you should use

    Tweet Just about every QuickBooks user relies on the Report Center and Reports menu, but if you’re like most, you have a small handful of reports that you tend to rely [...]

    Read more
  • Backup or Portable? – You decid...
    Backup or Portable? – You decide.

    Tweet When you think about it, it’s pretty amazing that QuickBooks is able to pack the lion’s share of your financial data into one giant company file. It certain [...]

    Read more
  • Tips For Cutting Expenses
    Tips For Cutting Expenses

    Tweet It looks like the economy may finally be looking up – maybe. Still, this is no time to loosen the purse strings in terms of your business expenses. Rather, why no [...]

    Read more
  • Time and Expenses Billing
    Time and Expenses Billing

    Tweet Billing for inventory parts is easy. Pick the items from a list and specify a quantity then,  Done. Billing for costs, time or mileage is a little more complex. QuickBo [...]

    Read more
  • More Common Errors in QuickBooks
    More Common Errors in QuickBooks

    Tweet Account for outstanding bank account transactions. If you’re having a problem reconciling your latest bank statement, the problem might be with outstanding bank a [...]

    Read more
  • Income Tax Reports – Tax line m...
    Income Tax Reports – Tax line mapping.

    Tweet QuickBooks, of course, can’t do your taxes for you. But it helps you lay some of the groundwork. Following up on last weeks post on customizing reports, we’ [...]

    Read more
  • Modifying your reports for better ins...
    Modifying your reports for better insight

    Tweet If you make one resolution about improving your accounting procedures, it should be this:  Make extensive use of the tools that QuickBooks offers for report modificatio [...]

    Read more
  • When to use Classes or types in Quick...
    When to use Classes or types in QuickBooks.

    Tweet QuickBooks‘ standard reports are critical to understanding your company’s past, present, and future. But the program also offers innovative tools that can m [...]

    Read more
  • Bill Tracking in QuickBooks
    Bill Tracking in QuickBooks

    Tweet QuickBooks Pro New Features Saves You 50% Time Spent on Finances. Save 20% + Free Shipping. Next to payroll, paying bills is probably your least favorite task in QuickB [...]

    Read more
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Bank Reconciliation Tips and Tricks

Nov27th
2012
Leave a Comment Written by Bruce Mc
Bank Reconciliation Tips and Tricks

Reconciling your bank account is a critical accounting task that you should carry out each month. Doing so helps ensure the integrity of your financial reports, since most of your accounting transactions ultimately affect cash in some fashion.

Further, QuickBooks is a much more powerful tool for your business if you use it to its fullest extent. Most likely you’ve been reconciling your bank account all along, so in this article we’ll discuss the tricks and techniques you need to know to streamline the process.

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Information, Tools

Overlooked Reports you should use

Nov20th
2012
Leave a Comment Written by Bruce Mc

Just about every QuickBooks user relies on the Report Center and Reports menu, but if you’re like most, you have a small handful of reports that you tend to rely on. I want to explore some reports that many users overlook. Even if you are using some of these reports, we’re sure you’ll find a few more to add to your repertoire.

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Information    Accountant, Audit Trail, Generally Accepted Accounting Principles, helpful management tool, QuickBooks, Report Center

Backup or Portable? – You decide.

Nov13th
2012
Leave a Comment Written by Bruce Mc
Backup or Portable? – You decide.

It’s pretty amazing that QuickBooks is able to pack the lion’s share of your financial data into one giant company file. It certainly makes it easier to separate from QuickBooks and move when necessary.

There are actually three options for saving and relocating that file. You know about backups, since you should be producing them religiously. You generate them so that if QuickBooks — or your computer itself — stops working or your file becomes corrupt, you can re-create the entire environment.
the Portable company files are more limited, and are best used when you want to save your file to a temporary location and/or email it to someone else.

You would only use an Accountant’s Copy, of course, when you want us to check your progress. At L & R Tax Preparation, We’ll work with you on setting this up.

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Information    Backup, portable file, QuickBooks

Tips For Cutting Expenses

Nov6th
2012
Leave a Comment Written by Bruce Mc
Tips For Cutting Expenses

Establishing these new procedures will require some extra work. You may not notice a reduction in expenses immediately. But over time, you will see a positive change —
one that will give you extra dollars and hours to invest in making your company flourish.

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Information, Tools    Finance, QuickBooks

Time and Expenses Billing

Oct30th
2012
1 Comment Written by Bruce Mc
Time and Expenses Billing

Billing for inventory parts is easy. Pick the items from a list and specify a quantity then, poof, it’s Done.
Billing for costs, time or mileage is a little more complex. QuickBooks has built-in tools to help you do this, but it’s a bit of a process.

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Information    built-in tools, Invoice, QuickBooks

More Common Errors in QuickBooks

Oct23rd
2012
1 Comment Written by Bruce Mc
More Common Errors in QuickBooks

Tweet Account for outstanding bank account transactions. If you’re having a problem reconciling your latest bank statement, the problem might be with outstanding bank account transactions. If there was any lag time between the date of your statement and your start date in QuickBooks, make sure that you also entered any checks or deposits that [...]

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Information    Accounts payable, Banking, Business/Finance, Payment systems, QuickBooks, QuickBooks Pro Advisor

Income Tax Reports – Tax line mapping.

Oct16th
2012
Leave a Comment Written by Bruce Mc
Income Tax Reports – Tax line mapping.

So when you create tax reports, related transactions will be grouped by these designations.

This can be a real time-saver — as long as you’ve specified the correct entity.

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Information    Accounting software, general financial reports, QuickBooks, Tax, Tax Line Mapping in QuickBooks

Modifying your reports for better insight

Oct9th
2012
Leave a Comment Written by Bruce Mc
Modifying your reports for better insight

QuickBooks supplies you with a wide variety of pre-formatted reports whose modification options can help you do focused, critical analysis of your financial data. The right set of numbers will help you understand your history and plan for the future more effectively.

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Uncategorized    Accounting software, QuickBooks

When to use Classes or types in QuickBooks.

Oct2nd
2012
Leave a Comment Written by Bruce Mc
When to use Classes or types in QuickBooks.

Tweet QuickBooks‘ standard reports are critical to understanding your company’s past, present, and future. But the program also offers innovative tools that can make them significantly more insightful and comprehensive. QuickBooks offers two simple conventions that let you identify related data: classes and types. Classes are used in transactions.  Types are assigned to individual customers, [...]

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Uncategorized    Accounting software, classes, QuickBooks, types

Bill Tracking in QuickBooks

Sep25th
2012
Leave a Comment Written by Bruce Mc
Bill Tracking in QuickBooks

Tweet QuickBooks Pro New Features Saves You 50% Time Spent on Finances. Save 20% + Free Shipping. Next to payroll, paying bills is probably your least favorite task in QuickBooks. You don’t have to use this feature — you can keep stacking bills on your desk, scrawling the due dates on a paper calendar, and [...]

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Uncategorized    Accounts payable, Bill Tracking, QuickBooks
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