What’s the difference between Invoices and Sales Receipts in QuickBooks?
They both record the same information: SALES. Invoices record sales on an accrual basis, sales receipts record sales on a cash basis. An invoice records the sale as income and increases accounts receivable, as of the date of the invoice, even though you haven’t received the PAYMENT for the sale. To complete the sale process […]
QuickBooks Payroll – Where do I start?
This past December, QuickBooksTM added an online payroll option to their payroll lineup of QuickBooksTM Basic Payroll, Enhanced Payroll and Intuit’s Payroll Service. How do you decide which one is best for you and your company? Let’s take a look. QuickBooksTM Basic Payroll – Allows you to create paychecks to pay your employees using the […]
QuickBooks 2009 is here!
Here are a few of the enhancements designed to make your work in QuickBooks easier, faster, and more accurate: 1. There’s a new button up on the toolbar called “Company Snapshot”. On one screen, you can see an income and expense graph, customer, vendor, and account balances, plus your reminders. Pick either this or the […]
QuickBooks Tip – Hide Transactions Button in the Bank Reconciliation Window
Another overlooked feature in the bank reconciliation module of QuickBooksTM is the “Hide transactions after the statement’s end date” box in the upper right hand corner of the bank reconciliation screen. So, why would you click that button? To save you from having to search through transactions not relevant to your current month reconciliation. Often […]
Make Bank Reconcilations Easier Using the “Undo Last Reconciliation” Feature
Last month I focused on the “Locate Discrepancies” button that is part of the Bank Reconciliation feature in QuickBooksTM. Like the “Locate Discrepancies” button, another overlooked, but very helpful part of the Bank Reconciliation feature in QuickBooksTM is the “Undo Last Reconciliation” button. This button is located right next to the “Locate Discrepancies” button that […]
Using QuickBooks to Produce Your 1099’s
One of the greatest tools in QuickBooksTM is the ability to print 1099’s from within QuickBooksTM. To set up your system for this feature, go to the preferences, from the Edit menu, then click on Tax: 1099 on the left side, then on the company preferences tab. Answer the question, “Do you file 1099-MISC forms?”, […]
QuickBooks Tip – Accepting Client Retainers
Do you or do you know someone that accepts retainers from clients? To accept client retainers in QuickBooks: 1. Create a liability account called “Client Deposits”. 2. Create a new item, type is “service”. Name it “Client Deposit” and then pick the liability account you created called “Client Deposits” in the account field. 3. Then, […]
Internet Explorer 7 is available! What you need to know
Internet Explorer 7 has just been released by Microsoft. Unlike previous versions, Microsoft will release this update through their automated update system as a critical update. Although this should not affect the general use of your computer, there will be some differences, including how you interface with Internet Explorer. Another major difference will be the […]
QuickBooks Tip – QuickBooks Invoice “History” Feature
One of the complaints that I always hear from my clients is, “How do I verify that the invoice that I e-mailed in QuickBooks was actually sent?” To e-mail an invoice to a client, click on the “send” button at the top of the invoice and follow the e-mail wizard. When finished click on the […]
QuickBooks Tip – Did You Know?
In QuickBooks Pro, you can create an icon on the icon bar for any account register or form, in order to speed up your data entry.For example, if you use your bank check register every day, you can make an icon on the icon bar that you can access quickly, every time you need it. […]