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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 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 [...]
Posts in category Information
Bank Reconciliation Tips and Tricks
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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 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 [...]
Overlooked Reports you should use
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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 rep [...]
Backup or Portable? – You decid...
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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 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, sinc [...]
Tips For Cutting Expenses
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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 not re-double your efforts to cut costs and boost your profitability?
Excessive expenses cause debt, which in itself can be very costly. So any money-saving actions you tak [...]
Time and Expenses Billing
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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. QuickBooks has built-in tools to help you do this, but it’s a bit of a process.
To simplify your workflow, do this groundwork first:
Go to Edit | Preferences | Time & [...]
More Common Errors in QuickBooks
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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 deposit [...]
Income Tax Reports – Tax line m...
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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’ll look at the program’s tax-related reports and its powerful report-filtering options.
But first, you’ll need to make sure that this output will be accurate. [...]
Non sufficient funds – Handling NSF C...
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Non sufficient funds
No-one likes it when their clients/customers payments come back as NSF (non sufficient funds).
When you receive notice that a check has bounced, you need to follow these directions for recording this into QuickBooks.
Create a transaction that records the funds coming out of your checking account, along with the fee [...]
QuickBooks Mobile
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Accounting in the cloud is closer than you might think, and a lot closer than I want. In fact, it’s already here, in some cases. QuickBooks Online, of course, is entirely cloud-based, but it does not yet offer all of the features found in Intuit’s top-of-the-line products, Premier and Enterprise.
So, in the meantime, Intuit [...]
Mistakes made in QuickBooks
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Common QuickBooks Mistakes
Okay truth be known (for those of you not in the know) I am a big QuickBooks fan. Meaning a lot of companies, new businesses and the such who can’t afford to take on an accounting firm to handle their needs they need something to handle their books. In cases like that, I recommend only QuickBooks products. W [...]
