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QuickBooks Tips Blog

Reconciling Liabilities In QuickBooks

Posted by Joe Mazur on Mar 4, 2013 7:30:00 AM

Often, to the small business owner, the word reconciling is associated with just the checking and savings bank accounts.  There is much more that needs to be reconciled in order to be certain your financials are accurate.  Reconciling liabilities in QuickBooks sounds a lot more intimidating than it really is.  What good is reviewing financial reports if you can't prove they are 100% accurate?  Depending on how your business's bookkeeping system was set up, walking through the reconciliation process for banks accounts, payroll liabilities, loans, lines of credits, garnishments, and other withholdings can be easy or a major pain in the butt.  Previous posts have discussed account reconciliations in a more general sense, so let's dive into Liabilities for now.

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Topics: Efficient Bookkeeping, Do It Yourself Bookkeeping, Bookkeeping Tips

How To Make The Most Of QuickBooks Online Banking

Posted by Alex Viau on Jan 21, 2013 6:00:00 AM

Online banking is the bread and butter to my efficiency in QuickBooks. I'm always asking myself how I can make the most of the online banking feature in QuickBooks with every client I help take care of. What really blows me away though is the amount of people that aren't even aware of this feature! You can download data for your credit cards and bank accounts in a matter of minutes. So let's get started with the 101 and work our way to the advance features rather quick...

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Topics: Efficient Bookkeeping, QuickBooks advice, Bookkeeping Tips

Utilizing QuickBooks For Efficient Bookkeeping

Posted by Joe Mazur on Dec 31, 2012 7:31:00 AM

Think you are fast at navigating around QuickBooks?  Want to get faster?  These are 2 questions I often ask myself when doing repetitive work.  Usually the answer is in use of the keyboard and not the mouse.  Not only is this true in QuickBooks, but any other computer program I use such as Microsoft Excel or various POS Software.   Whether it's Personal Bookkeeping or Small Business Bookkeeping, the need to be efficient in QuickBooks is an understatement.  If you find yourself doing repetitive tasks within QuickBooks, then it's time to start using Memorized Transactions.  Once you have your Memorized Transactions dialed out, it's time to focus on keyboard shortcuts.  When working with other bookkeepers, there are times I feel as if I am the fastest typist alive, and then again there are times I feel as if I don't know how to type at all.  Being realistic, I'm not that fast when it comes to typing, but I can make people think otherwise because I utilize keyboard shortcuts, thus improving my QuickBooks efficiency.


Print The Guide

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Topics: QuickBooks Tips, Learning QuickBooks, Efficient Bookkeeping, Do It Yourself Bookkeeping

Video QuickBooks Tip: Printing Checks From QuickBooks

Posted by Matt Roberge on Nov 14, 2012 7:26:00 AM

In this QuickBooks video demonstration I will show you how to print checks directly from QuickBooks.  I will also talk about the many benefits of printing check from QuickBooks.  

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Video Tips, Efficient Bookkeeping, QuickBooks Consultant, Bookkeeping Help

The Benefits Of QuickBooks Tracking

Posted by Matt Roberge on May 26, 2012 9:34:00 AM

Hearing someone ask “What are the benefits of QuickBooks tracking?” is almost like hearing when someone ponders the benefits of electricity for their office appliances. It’s ludicrous! In order to make decisions, you need information; in order to be able to get to that information you need access. QuickBooks tracking not only give you that access and that information, it does so in real time; helping you make smarter, faster, better business decisions now. After all, how do you expect to turn on the office lights when no one is providing the power?

QuickBooks tracking is also something that too many people, too often take for granted. You wouldn’t walk into a Maserati dealership in Italy and try to barter with the salesperson if you had no money, would you? QuickBooks class tracking and QuickBooks tracking not only gives you the tools in a common language, but it gives you a simple summary so you can fully understand the scope of everything that's going on.

As a small business you’re just trying to do the best you can with your product or service; you don’t have time to be worrying about whether or not checks have cleared, deposits have been made, or if there’s any other erroneous activity going on in your accounts. You’re just trying to do the best you can and make your brand the most desirable in its market. That's another benefit of QuickBooks tracking.

Information moves quicker than ever and small business owners need to stay on top of things or be left behind. If you’re in the Salt Lake City area and you need to simplify, educate, and re-up your commitment to your accounting software and you don’t know where to turn, reach out to Salt Lake City Bookkeeping.  With
more than 15 years’ experience and with their base in Utah, Salt Lake City Bookkeeping is a Certified QuickBooks Pro Advisor who can help you and your team get back on track. Whether it’s on-site or remote training, 24/7 Intuit/QuickBooks support, or their ongoing consultation to make sure you’re using your software in as efficient a manner as possible, Salt Lake City Bookkeeping has got the answers to your bookkeeping and accounting woes.

Time is money and time wasted can’t be retrieved. So the question you need to ask yourself is, can you afford to spend another day not getting the most from your businesses QuickBooks tracking?    










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Topics: Efficient Bookkeeping, QuickBooks efficiency, Certified QuickBooks ProAdvisor

QuickBooks Tip: Properly Recording Outsourced Payroll in QuickBooks

Posted by Matt Roberge on Sep 13, 2011 9:22:00 AM

I have had a lot of inquiries lately about how to properly record payroll in QuickBooks when using an outsourced payroll company.  As we have stated before we highly recommend outsourcing your payroll to a trusted payroll company.  Many bookkeepers that don't know better record any payroll transactions that hit the bank account as a payroll expense and move on.  Unfortunately this is incorrect and causes inaccurate financial statements.  I will breakdown all the various transactions that typically occur with outsourced payroll and tell you how to properly account for them. 

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Topics: QuickBooks, QuickBooks Tips, Efficient Bookkeeping, Do It Yourself Bookkeeping, QuickBooks advice, Outsourced Payroll

QuickBooks Tip: Dealing with your Accounts Receivable

Posted by Joe Mazur on Jul 27, 2011 7:36:00 AM

When reviewing financials with clients, they sometimes look at their Profit & Loss and almost immediately ask "Well, if I made $40,000 this year, where is it?"  Business owners usually assume that if they made money it should be in their bank account.  If it's not in the bank account, it can be because of a few different reasons.   If they are paying off loans, a line of credit, a large credit card balance from a prior time period, or some other liability the money generated from the profit is usually allocated to these Balance Sheet items.  If the business does not have any liabilities, it could be due to Equity Draws by the owners.  Well if it's not Equity Draws or paying down liabilities, then where is it?  It is most likely tied to your Accounts Receivable balance.  This is the balance that customers owe the business for the purchase of their product or service.

Accounts Receivable Reporting

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Topics: QuickBooks, Efficient Bookkeeping, Cash Flow Management, Year End Accounting, Year End Bookkeeping

Using Quickbooks Memorized Transactions List

Posted by Joe Mazur on May 10, 2011 9:15:00 AM

When working on your books, you want to work both efficiently and quickly.  Data entry is one of the items that tends to stand in the way of this.  If you ever find yourself entering the same thing daily, monthly, or even quartely then you might was to start using the Memorized Transactions List.  There are people that have plenty of time to waste during their 8 hour day and struggle to keep busy.  But there are people out there that need to work quickly and efficiently.  If you are a business owner, office manager, a hard worker, or a person that values and utilizies their time, then this is for you. 

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Topics: Efficient Bookkeeping, Do It Yourself Bookkeeping, QuickBooks advice, Business Efficiency