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Tag Archives: QuickBooks Premier
When to Use Classes in QuickBooks
When deciding to use classes, it is important that you have only one primary purpose for the class structure. If you try to track more than one “type” of class, the value in the reporting is diminished. For example, your … Continue reading
Accrual or Cash Basis for Profit & Loss Reports in QuickBooks
My recommendation is that business owners view their business Profit & Loss report in accrual basis. This method more accurately matches their expenses with the related revenue in the same accounting period. The business’s accountant can then review the data … Continue reading
How to Mark Accounts as Inactive in QuickBooks
Need to mark several accounts as inactive? Simply select the Include Inactive check box at the bottom of the Chart of Accounts list (after at least one account is inactive), as shown below. You can mark any list item you … Continue reading
How to Download a Report Template for QuickBooks
Did you know that you can download a report template from the QuickBooks website that you can import into your data or your clients’ data to provide this detail and other useful reports? See Chapter 16, “Reporting Tips and Tricks,” … Continue reading
How to Set Date Warning Preferences in QuickBooks
Fortunately, QuickBooks preferences help avoid transaction dating errors by enabling you to set a warning for date ranges. To open the date warning preference, follow these steps: 1. Log into the QuickBooks data file as the Admin or new External … Continue reading
How to Alert Users Who Try to Post Transactions to Retained Earnings in QuickBooks
Did you know that you can set a preference to warn users if they try to record a transaction to the Retained Earnings account? Click Edit > Preferences and select the Accounting preference on the left. Click the Company Preference … Continue reading
QuickBooks Multiyear Bank Reconciliation Tip
If you are choosing to complete a multiyear or multimonth bank reconciliation, consider reconciling through the last month of your previous fiscal year, which for most companies would be your statement ending December 31, 20xx. Choosing a month to reconcile … Continue reading
QuickBooks Reconciliation Difference
First determine whether the amount is significant. If the answer is yes, the best method for finding errors is to review each item marked cleared in QuickBooks with the transactions listed on your bank statements. If the difference shown on … Continue reading
What to Do Before Entering Opening Balances in QuickBooks
Before you begin entering startup balances, make sure you have the following created in your QuickBooks data file: Chart of Accounts—This list is usually created automatically for you in the EasyStep Interview or the new Express Start with QuickBooks 2012. … Continue reading
QuickBooks Accountant 2012 What’s New Videos
Would you like to learn quickly about the new features in QuickBooks Accountant 2012? View these short QuickBooks Accountant 2012 Intro Training Videos for working more efficiently with your client’s files. Chapter 15 – 96 page resource document, Click Here: … Continue reading