Category: Procedures & How To’s

Complications of the Accountant’s Copy

An Accountant’s Copy is a copy of your QuickBooks desktop company file your accountant (or financial consultant) can use to make changes in while you continue to work in the original. When your accountant is done, you then import your accountant’s changes into your company file. Important: You cannot create an Accountant’s Copy if you…

Not all gifts are treated equally

Whether you use QuickBooks Online (QBO) or QuickBooks Desktop (QBDT), a common procedure in both is to assign the proper Chart of Account item to the transaction.  Selecting the correct account is critical to reporting all your income accurately and claiming all your deductions on your income taxes. Understanding the IRS regulations for acceptable business…

The Importance of Proper Preferences

Setting up your preferences in QuickBooks to properly reflect the way you do business is important, in fact critical, to accurate transactions which lead to accurate financial statements. I encourage you to make time to review your preferences in your QuickBooks company file. Preferences are located under the Edit Menu.  They are broken down by…

Credit Card Transactions

If your company uses credit cards to make purchases,  learning how to use the QuickBooks credit card feature is easy and effective. I have heard all kinds of other ways credit card purchases have been entered such as using Bill Pay, Write Checks, or Journal Entries.  Don’t use these methods!   Here is why you…

QuickBooks is often Underutilized and Misunderstood

QuickBooks is a powerful tool.    Used properly, it can not only track your income and purchases for easier tax preparation, but it can help you make better business decisions through the understanding of financial reports to grow your company more quickly.   These reports are based on the invoicing and purchasing transactions that are…

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