I was at a client's yesterday and noticed that there had been some questionable transactions happening in the QuickBooks file from the last time I was in there, sound familiar? Thankfully this was an easy one because we had setup usernames in QuickBooks for the various folks who interacted with the file. In under two minutes we figured out who it was, informed the employee of what they had done, and ensured we wouldn't have a problem again. No harm done, just a simple misunderstanding.
I ran into an interesting problem the other day with one of my clients. I ended up getting a somewhat distressed phone call from her asking me why she couldn't print her checks anymore. I asked if she was able to print anything from her computer to which she immediately responded "I can print everything else but I just can't print checks from QuickBooks!" The first thought that went through my head was that she might be doing something wrong in her process of printing checks, but I soon found out this was farther from the truth
There are quite a few different file types in QuickBooks. I'm about give you the run down of the most common of these file types in QuickBooks used in relation to company files that are commonly exchanged between bookkeepers, business owners, and CPA's. Each file type has its place and when understood then used correctly will make everyone involved happier. Yes, there are more extensions used in QuickBooks and a full list of these extensions can be found here on the Intuit website.
Corporate tax deadlines are soon approaching and a lot of people are scrambling to get their company financials in order, hopefully however your year-end bookkeeping doesn't exist. Folks are now left with wondering how to get their QuickBooks file to their CPA. In years past (and surprising still today) a number of folks will go out and purchase CD's, DVD's, and thumb drives to transport their data.
Every time I open up a new company file a lot of thoughts are going through my head. Is the balance sheet correct, have credit cards been properly booked, are the payroll liabilities $0 at the end of every pay period, if they have an organized expense list that is meaningful, or are
the QuickBoks accounts reconciled. The expense list (which I'll include as Cost of Goods Sold, Expenses, and Other Expenses) give you a true outlook as to where your business is currently spending its money. For this article I'll list out each category, explain what the category is comprised of, then give you common account names I use for a majority of my clients.
Before purchasing QuickBooks a lot of folks pose the question 'Well, which version should I
get?' or 'What's the best version of QuickBooks I can buy?'. This question is not as easy as saying if you can afford it purchase the most expensive one as for most people QuickBooks Pro (the cheapest option over a 3 year period) is the perfect solution for most small business out there. However, there are some subtle differences that come into play between all of the versions that might make one over the other a worthwhile venture for your business.
Processing 1099's in QuickBooks can be a bit of a pain especially if you aren't aware of what
you're looking for in QuickBooks. The business liability to the federal government, what forms to print, where to send the subsequent forms, and how to use QuickBooks as an all-encompassing tool to accomplish it. Don't worry though, sit back, relax, and understand that you can more than likely process all of your 1099 forms in under 45 minutes by following the steps below to ensure your business is meeting all of the federal requirements.
We usually don't recommend QuickBooks Enterprise to many companies but there are a few
that fit this mold. One of the features that makes QuickBooks Enterprise a game changer in my mind is the ability to consolidate two separate company's financial reports into one single report. QuickBooks has made the ability to consolidate your Profit & Loss and the Balance Sheet in a relatively pain free method. Before you begin make sure...
Topics: QuickBooks Tips
