Tag Archives: quickbooks

Bookkeeping for Investments in QuickBooks

My client Donna wants all of her paper investments, such as certificates of deposits, mutual funds and IRA’s, tracked in her QuickBooks financial software. Normally people use more specialized personal bookkeeping software, such as Quicken, to track all of their investment activities, simply because Quicken can normally be tapped in to automatically update your investment

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Properly Using the Class Function in QuickBooks

My client Susan wanted me to re-design her entire company’s chart of accounts, specifically in the Profit & Loss income and expenses areas, including the Cost of Goods Sold type of accounts. Susan also wanted “Departments” created as well in the expense areas of the chart of accounts; in other words, her company was dividing

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How to Set Up an Employer Contributions Health Insurance Payroll Item in Quickbooks Desktop

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 employer contribution portion of an employee’s health insurance plan,

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Sample Report from QuickBooks: Profit & Loss

Keeping abreast of the financial position of your company is a must for any small business owner.  One of the most crucial reports for you to review on a regular basis is the Profit & Loss Report.  In QuickBooks, you will find this report by clicking on Reports>Company and Financial>Profit & Loss (Standard or Detail).

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Sample Report from QuickBooks: Unpaid Bills Detail

The Unpaid Bills Detail report can be created by clicking on Reports>Vendors and Payables>Unpaid Bills Detail.  This report is an excellent means of viewing what your company owes to each of its vendors at any point in time.  There are a few noteworthy items in this report: The report defaults to show bills dated today

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The Value of QuickBooks Audit Trails

Have you ever come across a situation when you wanted to know who posted a transaction in QuickBooks and why? Both the QuickBooks Desktop and QuickBooks Online platforms provide the answer of at least “who posted a transaction” in the form of an “Audit Log” for QuickBooks Online (Gear Icon>Tools>Audit Log) and an “Audit Trail”

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Sample Report from QuickBooks: Open Invoices Report

Working with customers and receivables is an integral part of running your business.  This is where your income actually comes in to your company, providing a cash flow to continue operations.  While there are a few reports that will help you with assessing the expected income for a period of time, the Open Invoices Report

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Consulting Inventory Management in QuickBooks

Margaret, a pet food manufacturer/guarantor client of mine has her products delivered to distributors across the country. She needed some inventory management consulting and thus hired AccuraBooks for this. Margaret uses the QuickBooks Enterprise Desktop software for all here company’s bookkeeping, and they were interested in activating the QuickBooks Advanced Inventory Module (also known as

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Sample Report from QuickBooks: Expenses By Vendor Report

Creating an Expenses by Vendor Detail report on a regular basis can help you to see where your company is spending money. It is important to know where the money is being spent so that you can find ways to spend less of it (and increase your overall bottom line). Using a report for a

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Sales Tax Options in QuickBooks

Tracking sales tax in QuickBooks can be made very easy or more difficult, depending on your needs. Very Easy Method – The relatively simple sales tax tracking in QuickBooks is best for those who do not invoice their clients directly from the QuickBooks software. For example, let’s say you are a retailer with an in-house

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