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Posts sent on: 2013-08-14

Aug142013

Crucial Functions Inside QuickBooks




The user enters remaining information from the bank statement and chooses the appropriate accounts for interest earned and bank service charges. Notice that withdrawals and deposits are displayed side-by-side for easy review during the reconciliation process. QuickBooks also allows users to pick from a list the columns to display in the reconciliation. The “Reconcile Now” button finishes the reconciliation. This is useful if searching for a few cents would be considered too time-consuming in relation to the derived benefit.



A modifiable form includes a drop-down Template box in the Header Area and a “Customize” button. For 2012, it has been improved and includes separate Vendor (or Customer) and Transaction tabs. The history pane can be hidden by clicking on the right-arrowhead that appears in its upper left corner. The “Customize Your QuickBooks Forms” window feature was added in Accounting Advice 2010. In the window that opens, copy the standard template and change the template name (replace the name in the “Template Name” box) to “Celebration Creations PO.” Basic Customization allows the user to add a status stamp to the form (“Paid,” “Pending,” etc.), modify the information displayed concerning the company, and add a company logo. While moving through the tabs, notice that most individual elements may be selected for screen display, for printer, for neither, or for both. Also notice that titles displayed for data fields can be changed; in some cases, so can the order of field display. Certain user-defined fields may be made common to employees, customers, and vendors. This allows the user to assign a different class to each item of a multiple-distribution transaction rather than simply to assign one class to the transaction as a whole.



To memorize transactions, select the transaction and click on the Edit menu. First, new frequency choices were added to notification settings. Second, the QuickBooks window that prompts users to approve or delay automatic entry of memorized transactions now gives users the ability to approve or delay such entries on an individual basis. This box is checked by default when a new transaction is created on a form. The check box status does not prevent the user from printing. If for any reason, a form requires a reprint later, simply locate the individual transaction and print it while the form is open or recheck the box on a group of transactions and repeat the batch print process.

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Aug142013

Learning the QuickBooks Software




For a long time, the answer to this question has been “No” – or at least “Not necessarily.” Retail vendors may use inventory costing methods other than average cost. Many organizations require robust itemized fixed asset management and accounting. While these approaches may work, there have been downsides. Features such as the ability to import data from Excel spreadsheets using data mapping and the ability to update external spreadsheets more easily eliminate much of the frustration often inherent in “download/upload” processes. They launched a new program for 2002 aimed at developing closer relationships with accountants, ProAdvisors, and software developers.



A wide range of alternatives allow payrolls to be processed either disk-based or web-based. This feature first became available with QuickBooks 2007 and training is still available. Online Payroll Basic, Online Payroll Plus, Online Payroll for Accounting Professionals, and Full Service Payroll do not require bookkeeper. Click the “…manual payroll calculations…” hyperlink where instructed to access the Payroll Setup interview. Be sure to read all information and links on the page before proceeding, as well as the caution shown below. Select Payroll Setup to begin the interview and display the screen (notice the progress indicator in the upper left corner the Payroll Setup window). Notice that one can choose from a number of payment schedule settings, or opt for none at all. Direct Deposit to the employee’s bank is available for up to two employee bank accounts.



If users set the transaction for automatic entry, QuickBooks will prompt them to confirm before execution. To view and use memorized transactions, select from the menu “Lists” and “Memorized Transaction Lists” or use the CTRL-T keyboard shortcut. Second, the QuickBooks window that prompts users to approve or delay automatic entry of memorized transactions now gives users the ability to approve or delay such entries on an individual basis. This box is checked by default when a new transaction is created on a form. To batch print forms, select “File” from the menu, then “Print Forms,” then select the type of transactions to be printed; only those transactions marked “To be printed” will be displayed. This is useful if the printer jams, runs out of ink, etc. and printing requires restarting at an intermediate point in the run.

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Categories: Cat