If your small business sells products, you know how precisely you must track your starting stock numbers, ongoing inventory levels, and your reorder points. QuickBooks provides tools to help with this process, but human factors can sometimes throw off your careful counts.
Fortunately, QuickBooks is remarkably flexible when it comes to recording the time your employees spend on customers and… Continue reading
QuickBooks makes it possible for your business to create very detailed records for customers, vendors, employees and items. In fact, you may find that you rarely make use of every field each contains.
You may also find that there are additional fields that you’d like to see in your predefined record formats. That’s where custom fields come in. QuickBooks allows… Continue reading
QuickBooks simplifies and speeds up your daily accounting work, but you’re missing out on valuable insight if you don’t tailor your report data.
Do you remember why you started using QuickBooks? You may have simply wanted to produce sales forms and record payments electronically. Gradually, you expanded your use of the software, perhaps paying and tracking bills through it and… Continue reading
Write Off A Bad Debt with Sales Tax
Create an Other Charge type Item on your Items List call it Bad Debt and then assign it to your Bad Debt expense account on the charts of accounts.
Create a Credit Memo and choose the Bad Debt item, making sure the line item is taxable. Continue reading
QuickBooks is user-friendly, intuitive and flexible, but it is not an accounting manual, class or tutorial. If your business is exceptionally uncomplicated, you might get by without knowing a lot about the principles of bookkeeping. Still, it helps to understand the basics. Here’s a look at some often-used terms and phrases. Continue reading
|To start QuickBooks without a company file||CTRL + double-click|
|Display information about QuickBooks||F2|
|Close QuickBooks||Alt + F4|
|First day of the Week||W|
|Last day of the weeK||K|
|First day of the Month||M|
|Last day of the montH||H|
|First day of the Year||Y|
|Last day of the Continue reading|
- Reconcile all bank and credit card accounts.
- Review your year-end bank reconciliations for old outstanding checks or deposits.
- Verify petty cash entries are up-to-date and balance your petty cash account.
- Review Accounts Receivable Summary and Accounts Payable Summary reports for accuracy.
- Review Balance Sheet and Profit and Loss reports for accuracy.
- Compare loan statements with your interest expense account in… Continue reading