Tag Archives: quickbooks

Customizing Forms in Quickbooks Online

In order to customize your outgoing forms in QuickBooks Online you would click on (at the date of this post writing) the Gear Icon>Account and Settings>Sales>Customize Look and Feel (green bar)>New Style (or select the one you want if you already have some created),>(select which type of form you want to customize). There are four

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Basic Job Costing Info in QuickBooks

Briefly, job costing is simply applying your revenues and expenses to the customers and jobs (or projects) for which they were used.  In QuickBooks, for each bill, check, and credit card transaction related to a particular job, be sure to complete the Customer:Job column.  Remember to complete this column for both labor and materials. Once

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Handling Petty Cash in QuickBooks

Petty Cash is a bank-type account in QuickBooks, and you transfer (deposit) to this account each time cash is actually withdrawn from your bank to be kept in the office.  This cash is generally kept on hand to cover small, on-the-fly transactions such as office meals, landscaping, fuel, etc. A word of caution on using

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Fixing Misapplied Customer Payments in QuickBooks

Every now and then a payment from a customer will be completely processed through QuickBooks before you discover that the payment was applied to the wrong Invoice (or even the wrong customer).  You will apply the payment, deposit it in the bank, and reconcile the payment on your bank statement.  Then your customer calls and

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Why You Need to Backup Your QuickBooks File

Having an up-to-date backup of your QuickBooks files (and any other important financial files) is crucial to maintaining your business books.  Technology fails us without warning, and sometimes entire systems go down and must be replaced.  If you do not have a current backup when this happens, you will spend precious time and considerable effort

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Reconciling vs. Clearing the Transactions

It is good practice to reconcile to ending statement balances as often as possible for bank, credit card, line of credit, petty cash, and even some asset and liability accounts.  Comparing to these third-party “reality” statements is one of the best ways to verify that the numbers in your QuickBooks file are a true reflection

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Using the Undeposited Funds Account in QuickBooks

The Undeposited Funds Account is a place to receive funds and hold them until they are physically deposited at the bank.  When you receive a payment from a customer and apply it either to an Invoice or a Sales Receipt, it is placed in the Undeposited Funds Account until you make the deposit and tell

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Simple Texas Payroll Setup Checklist for QuickBooks Enhanced

Getting setup for payroll with your QuickBooks Enhanced Payroll subscription is quick and easy if you take a few steps to have the information you need handy. You must have an EIN for your business in order to set up payroll.  Assuming you already have an EIN, here is a list of what you need

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Bookkeeping for Consignments

There are different methods for handling consignments in various bookkeeping systems.  In QuickBooks, one very efficient way to account for consignments is to incorporate the use of Sales Orders.  Sales Orders are “non-posting” transactions, so they will not affect your financials or your Inventory on hand levels.  You can set up your QuickBooks Inventory system

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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

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