Bookkeeping Tips

Create a Customized Balance Sheet by Job report in QuickBooks Online

This report is simply a convenient way to view the capitalized costs (non-expensed) associated with each customer/job, separated out (and displayed) per column of information, but, of course, all on one report. This report, perhaps, would be convenient for industries such as speculative home building but can be useful for anyone that is especially interested

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Create a Customized Profit & Loss by Job report in QuickBooks Online

This article addresses how to create a customized Profit & Loss by Job report in QuickBooks Online. This report is simply a clear and convenient way to view the profitability of all of your customers/jobs, separated out (and displayed) per column of information, but, of course, all on one report. This report, perhaps, would be

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Construction Escrow Accounts

If you are a small business that engages in speculative home building, then you probably also have access to that speculative home’s construction escrow account (from a previously arranged loan agreement). Since the building of a speculative home will be financed by a lender (such as a bank), you, as the home builder, will need

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Altering a Service Item in QuickBooks Online

This article addresses the issue of what to do when you discover one of your service items is not booking transactions correctly to your chart of accounts. Perhaps you reviewed a Profit and Loss report and discovered the following scenario:   One of your Cost of Goods Sold accounts has a huge negative balance.  

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Tracking Investments in QuickBooks Desktop – Part 2

Part 2 in this series of tracking investments in your QuickBooks Desktop file will only cover tracking your cost basis of your paper investments.   For each type of equity holding that you purchase: Example: 50 shares of XYZ, Inc. at a market price of $2/each = a value of $100 cost basis. I like

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Tracking Investments in QuickBooks Desktop – Part 1

Overall, it is always recommended that you choose proper befitting software or other method for your own manual investments tracking needs. This series of blogs will delve into a possible method for tracking your paper investments within a specifically created QuickBooks Desktop company file.   To begin, you should always begin the bookkeeping for your

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Create Service Item in QuickBooks Online

Here is a video showing how to create a service item in QuickBooks Online:

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Credit Memo Refund in QuickBooks Desktop Enterprise

Here are instructions to create a refund directly from an already-existing but unused credit memo in QuickBooks Desktop Enterprise. Menu: Go to your customer list and select the customer who has the existing credit memo on file. Find the credit memo to be refunded and open it up (double-click on it). Now, select “Use credit

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How to Create a Basic Service Item in QuickBooks Online

If you need to create a basic service item to use to create a future customer invoice in QuickBooks Online, then here are the steps:   Click on the gear icon (upper right), the click on Products and Services under the Lists menu. Click New Choose “Service” Fill in the appropriate fields to be able

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Manual Inventory Tracking

If you have a small-time inventory business and are literally storing your inventory in your garage and are not utilizing a complex inventory software to track your stock status and calculate the Cost of Goods Sold, then here are some tips to post manual entries into your bookkeeping records to help assist in your inventory

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