As technology evolves and changes, some software and computer programs have gone the way of the dodo. In other words, it takes a lot to stick it out on the front lines – especially when almost every top rated program is eventually overshadowed by an open source program that offers a similar product for free. If you’re like most financially responsible individuals, though, you know that sometimes “free” isn’t the best option. That’s why QuickBooks still remains the front runner in bookkeeping and accounting software. People who know money know that this program is worth every dime.
The reason for the long-lasting popularity of QuickBooks is largely due to the fact that it sets itself apart from many other accounting software programs – which you can tell by glancing through any industry QuickBooks Tips blog. Several of the common “best practices” apply only to this particular program. Here are a few:
1. You cannot skip steps – If you go to Enter Bills and enter a bill, you must go to Pay Bills before going to Make Deposits or Write Checks. Everything in QuickBooks has a flow that must be followed. This eliminates stress for those of us who like to skip ahead and forget to fill in the blanks later.
2. Check for unapplied credits at least a few times per year. Failing to do so could mean that your cash based financials are incorrect. Simply go to Reports, then Customers and Receivables, click on Open Invoices and Reports, then choose Vendors and Payables and finally Unpaid Bills. If you see any negative amounts, this might mean that you failed to enter a corresponding bill or invoice for a payment.
3. Remember that the beauty of QuickBooks is that it is a transaction-based program. To get the most from this software, you should enter transactions appropriately – not directly to a register.
If you’re looking to become a QuickBooks guru, be sure to use it often and familiarize yourself with the interface. Additionally, there are plenty of QuickBooks blogs for additional help and reference. Of course, if you’d prefer you can always leave your bookkeeping and accounting duties to the professionals at Salt Lake City Bookkeeping.
What are some of the best practices you’ve discovered with QuickBooks?