Bookkeeping Tips

How to Apply Customer Credits to Open Invoices in QuickBooks Online

Note: This is assuming the customer deposit was already booked BEFORE the payment was actually applied to the customer’s open invoice. Be sure that the pre-existing customer deposit is actually booked correctly for this to work. Go to the customer deposit entry in QuickBooks Online and ensure two things here: The “Received From” field is

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Payroll Setup in your Chart of Accounts

Whether you are going to be integrating your payroll data from a 3rd party provider into your current bookkeeping platform or utilizing your own in-house payroll system, it is always a good idea to properly setup your corresponding liability and expense accounts in your chart of accounts AND periodically check the data and balances in all

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Handling Accounts Receivables within Two Different Systems (at the same time)

My client, Amelia, owns an architecture design business and has hired AccuraBooks to do two things: Maintain the bank/credit card reconciliations on a monthly basis. Maintain the “back-office” Accounts Receivables. Amelia desires to always maintain the “front-office” Accounts Receivables by creating the invoices herself and submitting them to her clients, then later on she will

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Bank Reconciliation Issues with Beginning Balances

Here is a video showing how to resolve basic bank reconciliation issues with beginning balances:  

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Creating an Inventory Part Item in QuickBooks Online

Here is a video showing how to create inventory parts in QuickBooks Online:

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How to Create an Inventory Part Item in QuickBooks Online

Note: Be sure that your inventory function is active in QuickBooks Online. Go to Gear Icon>Account and Settings>Sales tab>Products and services area>Checkmark the following at the minimum: Show Product/Service column on sales forms Track quantity and price/rate Track inventory quantity on hand Click Save then click Done. Go to Gear Icon> Lists menu>Products and services.

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Spec & Custom Homes Bookkeeping Clean Up

My client, Kimberly, is the owner of a home building business and specifically Kimberly builds both Spec and Custom homes. Kimberly hired AccuraBooks to catch up and clean up the entire bookkeeping system to help close out the previous fiscal year and to catch up the current fiscal year. Kimberly needed all of this bookkeeping

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Creating an Inventory Part Item in QuickBooks Desktop

Here is a video showing how to create inventory parts in QuickBooks Desktop:  

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How to Create an Inventory Part Item in QuickBooks Desktop

Note: Be sure that your inventory/purchase orders function is active in QuickBooks. Go to Edit>Preferences>Items & Inventory>Company Preferences Tab Go to Lists menu>Item List Click at New at the bottom (within the Item menu ) or simply hit Ctrl+ on your keyboard. Choose Inventory Part under Type of item Note: Inventory Assembly items are not

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Tracking Expenditures Using Funds from the Paycheck Protection Program

If you have received moneys associated with the Paycheck Protection Program, it is probably a wise thing to invent a temporary bookkeeping system and process to distinguish all financial activities associated with/utilizing these funds from the rest of your bookkeeping system. That way there can be no doubt that you can prove your PPP expenses/activities

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