Bookkeeping Tips - AccuraBooks

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

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

Applying Vendor Bills to Already Entered Check Payments

Here is a video showing how to apply vendor bills to previously entered vendor check payments:

QuickBooks – How to Apply a Vendor Bill to a Check Payment that was Already Entered

METHOD #1 Login to QuickBooks Online. Go to New>Vendors>Bill Enter your vendor bill and hit save and close. Find the previous check payment made out to that vendor. This is the check payment that you want to apply to the bill. Within the check payment, change the category (account) that you previously assigned this check

Don’t Fall Behind in Your Bookkeeping

It is highly recommended to never fall more than three months behind in your bookkeeping. Case In Point: The recent COVID-19 outbreak has slowed down the economy and thus has caused a lot of small businesses to file claims for Disaster Relief and Paycheck Protection coverage. However, like any other request for business financial assistance,

How to Create an Equity Report in QuickBooks Online

Login to QuickBooks Online. Go to the Accounting tab on the left side and click on Chart of Accounts. Find the specific equity account that you want information from and then: Go to the left side and click on the dropdown arrow and click on Run Report. Once the report opens: Scroll to the top

QuickBooks Online Bank Auto-Feeds – Pros & Cons

The bank auto feeds section in QuickBooks Online, which is accessible by hovering over the “Banking” tab on the left side and clicking on “Banking”, is a convenient perk function that allows the ability to directly connect your bookkeeping software to the transactional activity that occurs in your financial institutions, such as your bank and

How to Set Up Health Savings Account Employee Deduction Item in QuickBooks Desktop Payroll

Open Quickbooks desktop and click on the Lists menu and select Payroll Item List. Note: If payroll is not turned on in your Quickbooks file, then you will not see the Payroll Item List selection. You will need to create a new payroll item for the employee deduction portion of an employee’s Health Savings Account

Handling Customer Overpayments in QuickBooks Online

Here is a video showing how to handle customer overpayments in QuickBooks Online:

Job-Costing Without Using a Complicated Items List

My client, Amelia, is a sole general contractor and has hired AccuraBooks to maintain the bookkeeping for her sole long-term construction contract. Each month Amelia receives funds from her client to pay for her administrative/management fees and also pre-payments (deferred income) for upcoming job labor and materials expenses. For her bookkeeping, Amelia does NOT