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QuickBooks Tips Blog

Using Equity Accounts In QuickBooks

Posted by Joe Mazur on Jan 20, 2014 6:14:00 AM

It is extremely important for business owners and shareholders to properly track the money they may contribute to the business or draw from the business. QuickBooks makes tracking these transactions easy once the equity accounts are properly set up within the Chart of Accounts.  Whether someone is contributing money for a stake in the company or an owner is drawing funds out in lieu of payroll, equity transactions are important come tax time and for monitoring startup costs.

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Topics: Efficiently Using QuickBooks, Do It Yourself Bookkeeping, Starting A Business, Small Business Owner

How To Customize QuickBooks For Your Small Business

Posted by Matt Roberge on Dec 11, 2013 7:00:00 AM

The first thing you should do when you get QuickBooks is to customize QuickBooks for your small business.  While every small business is different and has unique needs there are a few customizations you most likely want to do no matter what.  The goal of customizing QuickBooks is to make your bookkeeping as easy as possible to handle each month.  Here are a few ways to customize QuickBooks for your small business.

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Topics: Efficiently Using QuickBooks, QuickBooks Advisor, QuickBooks Tips Blog, QuickBooks Customization, QuickBooks Setup, Customize QuickBooks, QuickBooks Training

How to Stay Efficient in QuickBooks

Posted by Alex Viau on Apr 5, 2013 7:00:00 AM

There's something that Warren Buffet and I have in common... we each have a limited resource called time. Buffet and I have 24hours in a day and there's nothing that neither of us can do about it to buy us an extra minute to our day. For this reason you should always be looking at ways to manage your time more effectively, which is why I'm always seeking new ways to improve my efficiency in QuickBooks.

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Topics: QuickBooks Tips, Using QuickBooks effectively, Efficiently Using QuickBooks, QuickBooks efficiency, Business Efficiency, QuickBooks Tips

Chart Of Accounts Reconciliations In QuickBooks

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

Although I'm not a big fan of over used business clichés, I tend to use some from time to time.  I sometimes laugh when I hear 'low hanging fruit' or 'think outside the box' or even the hall of famer 'shift the paradigm.'  The cliché I use when talking about accounts reconciliations in QuickBooks is 'keep all your ducks in a row.'  I first heard the term 10+ years ago from one of my all time favorite Front Desk Managers, Kristen Collins.  She managed a front desk crew that needed to count cash and reconcile guest accounts multiple times a day.  She knew that if it didn't happen consistently, then it would snowball out of control and possible revenue could be lost forever.  Even she would laugh when she used the term because she knew it was cheesy, but she was right.  Not putting a system in place to regularly reconcile your accounts can lead to a loss in revenue and a drop in profits and inaccurate financial reporting.   

There are the obvious accounts to reconcile in QuickBooks, but what about the not so obvious accounts? There are many account types that can be reconciled beyond the obvious bank accounts.  These account types are; credit cards, other current assets, fixed assets, other current liability, long term liability, and equity.  Let's look beyond the checking and savings account and talk about credit cards, payroll liabilities, loans, lines of credits, commission accounts, and even 401k withholding accounts.

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Topics: QuickBooks, Efficiently Using QuickBooks, QuickBooks Advisor, QuickBooks Tips Blog, Accounting Reconciliation

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, Efficiently Using QuickBooks, Bookkeeping Tips, quickbooks online banking, online banking, chart of accounts, importing qbo, downloading qbo

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, Efficiently Using QuickBooks, Efficient Bookkeeping, QuickBooks Tips, QuickBooks Consultant, QuickBooks Tips Blog, Printing QuickBooks Checks, Bookkeeping Help, QuickBooks Video Tips

Video QuickBooks Tip: Using the QuickBooks Find Feature

Posted by Matt Roberge on Oct 3, 2012 7:55:00 AM

The QuickBooks find feature is an extremely valuable search tool.  The find function can help you quickly find transactions in QuickBooks when you only know some of the information regarding the transaction.  Watch this QuickBooks tip video for a more in depth explanation of the QuickBooks find feature.  

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Topics: QuickBooks Tips, QuickBooks, Efficiently Using QuickBooks, QuickBooks efficiency, QuickBooks Blog, QuickBooks Tips Blog, QuickBooks Video Tips

Video Blog QuickBooks Tip: Using Class Tracking In QuickBooks

Posted by Matt Roberge on Aug 14, 2012 8:02:00 AM

In this video QuickBooks tip we will show you how to use classes in QuickBooks.  Classes are a feature that many QuickBooks users don't understand how to use properly.  Classes allow you to track your QuickBooks data in some sort of meaningful manner that is specific to your business.  Examples of possible classes are department, location, or source of income.  Since there is not cut and dry way to use classes it often causes confusion.  Our QuickBooks video tip on class tracking will hopefully shed some light on this topic.

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Topics: QuickBooks Tips, QuickBooks consulting, QuickBooks advice, QuickBooks, Efficiently Using QuickBooks, QuickBooks efficiency, QuickBooks Blog, QuickBooks Tips Blog, QuickBooks Video Tips

Video Blog QuickBooks Tip: Emailing Invoices From QuickBooks

Posted by Matt Roberge on Jul 26, 2012 8:36:00 AM

In this video blog we will show you how to send invoices and statements to your customer directly from QuickBooks.  

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Topics: QuickBooks Tips, QuickBooks consulting, QuickBooks advice, QuickBooks, Efficiently Using QuickBooks, QuickBooks efficiency, QuickBooks Blog, QuickBooks Tips Blog, QuickBooks Video Tips

10 Simple QuickBooks Tips To Dial In Your Bookkeeping

Posted by Matt Roberge on Jun 19, 2012 7:36:00 AM

Are you using QuickBooks as effectively as possible?  Are you getting the most out of QuickBooks?  Follow these 10 simple QuickBooks tips to put your business bookkeeping back on track.

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Topics: QuickBooks Tips, QuickBooks advice, memorizing QuickBooks transactions, QuickBooks Bank Reconciliation, QuickBooks, Efficiently Using QuickBooks, QuickBooks Reconciliation, QuickBooks Blog, QuickBooks Tips