Bookkeeping Advice Archives - Page 11 of 11

Employee & Contractor Timesheets in QuickBooks

Entering time worked for employees and contractors into QuickBooks can be accomplished using one of two options: “Use Weekly Timesheet,” or “Time/Enter Single Activity.” The Single Activity selection will allow you to track up-to-the-minute activity. I always recommend using 15-minute increments in time entry to make both entry and other calculations easier to do. The

Double-Sided Inventory Items in QuickBooks Desktop

Inventory items are tracked items that you sell to your customers. These items can also be used as parts to build inventory assemblies with. When creating your Inventory items, you should opt to make them “double-sided.” This means that when you purchase an item, the appropriate expense/COGS account will reflect this item on your Income