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QuickBooks Tips Blog

The Biggest Advantages of Bill.com, and How They Help You

Posted by Austin Walker on Jun 7, 2016 8:30:00 AM

There are a handful of solutions when choosing a cloud provider. Not all of
them plug so well into QuickBooks or QBO, and SLC Bookkeeping has been helping our own customers set up their accounts with this cloud-based system. For the information of the readers out there, we have provided a review of the software, giving advantages and disadvantages of it.

Paying bills and receiving payments faster are the primary functions of Bill.com. Invoices and bills can be instantly accessed online, making the process of managing your cash flow more manageable.

You will be notified for tasks and can perform jobs in no time, for example, approving a bill and paying it electronically. Thus, it can be a great addition to your paperless system. It connects businesses, accountants, and banks. And it targets both small and medium-sized businesses, with the goal of not leaving any business behind.

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Topics: QuickBooks, Accounts Payable, Accounts Receivable, billing

QuickBooks Online Invoicing Tip: 4 Steps To Sending Invoices With Payment Link

Posted by Christina Whalen on Oct 8, 2015 7:00:00 AM

So you just made the switch to QuickBooks Online from QuickBooks Desktop and you're sending out invoices to customers; but when they receive them, there is no link to actually pay you.

There is one more essential step after you go through the approval process and get your payment limits set, before you can receive payments. You have to change the invoicing settings to include the payment link.

If you follow this detailed guide, you will ensure that your customers are getting the correct invoice the first time so you can collect on your A/R faster and make the process of paying for your services incredibly convenient. 

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Topics: Accounts Receivable, QuickBooks Invoicing, Tips Blog, Small Business, QuickBooks Online

Create A Digital Bookkeeping System In QuickBooks

Posted by Matt Roberge on May 9, 2014 7:00:00 AM

Creating a digital bookkeeping system right from the beginning is a step that we highly recommend.  Paper is becoming irrelevant and reducing it in your work place can increase efficiency.  Below are a few reasons that you may want to create a digital bookkeeping system in QuickBooks. 

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Topics: Bookkeeping Services, Bookkeeping Help, Cash Flow, Accounts Receivable, Digital Bookkeeping, Small Business Bookkeeping

Accounts Receivable - What A Mess!

Posted by Joe Mazur on Oct 9, 2013 7:00:00 AM

"My Profit & Loss report tells me that I'm making a lot of money, but where is it?"  This is a common question we get asked frequently.  I usually tell that person to open their Accounts Receivable report.  Accounts Receivable is one of those reports that can be scary the first time
it's opened.  This shows the amount of money that the company has invoiced its customers for whom have not paid yet.  In accrual based reporting, these amounts show up on the Profit & Loss and have a major impact on the bottom line.  Streamlining your invoicing process can eliminate having a wrong AR report.  Also, streamlining the process in which your customers pay your company can reduce your AR balance and make your cash flow much more predictable. 

 

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Topics: Cash Flow Management, Bookkeeping Processes, Accounts Receivable, credit card quickbooks, Accrual Accounting

QuickBooks Tip: How to Send and Receive Payments for Invoices

Posted by Alex Viau on Jun 21, 2013 7:15:00 AM

The invoicing function in QuickBooks I frequently find misused, ignored, or the process is just never followed through to the end. Misusing the invoicing function and the items lists
associated with it can lead to a disaster in your chart of accounts. Ignoring the invoice function can lead to a complete misunderstanding of what you're actually due from your customers. And not following the process can lead to a massively inflated accounts receivable when you may have already recognized the checks from your customers as income. However following the basic invoicing flow as will follow can simplify your day to day and year end. For the example we'll say we're a web designer named Tim who just bought QuickBooks and needs to invoice his customer for his first job which was priced out to be $1,000.

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Topics: QuickBooks Tips, QuickBooks Tips, QuickBooks Tips Blog, Accounts Receivable, QuickBooks Invoicing, quickbooks AR

6 Ways To Improve Your QuickBooks Bookkeeping System Right Now

Posted by Matt Roberge on Apr 10, 2013 7:00:00 AM

Many small businesses use QuickBooks as their bookkeeping software.  However, many "do it yourself" bookkeepers don't know QuickBooks as well as they should.  Typically when we take on a new client the person responsible for the bookkeeping system is either the owner or another internal person.  Sometimes these people have an understanding of accounting and GAAP but don't know how to properly set up and use QuickBooks.  I wanted to give you six easy tips to improve your QuickBooks bookkeeping system.  

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Tips Blog, Accounting Reconciliation, Accounts Receivable, Bookkeeping

QuickBooks Tip: Chart Of Accounts Overview

Posted by Alex Viau on Mar 15, 2013 7:30:00 AM

In QuickBooks, the Chart of Accounts is the skeleton to any company file. A well-managed Chart of Accounts provides meaningful reports and year end financial data to provide to your CPA for tax purposes. Understanding how each account works and when to use it helps keep your
company file organized and maintains integrity of your financial data. The concepts may seem simple but it's surprising how many folks blindly swing in the dark by putting assets into liabilities, expenses as income, and vice versa. I'm going to just brake each one down and give real world examples on each. You can look further into the true definition (and I highly recommend you do) of each by heading over to Wikipedia.

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Topics: Using QuickBooks effectively, chart of accounts, QuickBooks Tips, Accounts Receivable, Accounts Payable, cleaning chart of accounts

QuickBooks Video Tip: QuickBooks Online Payment Feature

Posted by Matt Roberge on Mar 1, 2013 7:45:00 AM

In QuickBooks there is a way to accept online payments.  This allows your customers to pay directly from invoices emailed from QuickBooks.  There is no cost to your customer and the cost to you as a business owner is very inexpensive.  For bank payments it only costs $0.50 per transaction with no monthly, setup or cancellation fees.  You can also allow customers to pay by credit card and Intuit charges a merchant processing fee for this. However, you can choose to accept just bank payments if you wish, keeping your processing costs very affordable at $0.50 per transaction.  Watch this QuickBooks video tip to learn how to enable online payments in QuickBooks.  

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Topics: Cash Flow Management, QuickBooks, QuickBooks Blog, QuickBooks Tips, QuickBooks Tips Blog, QuickBooks Video Tips, QuickBooks Payments, Accounts Receivable