Category: QuickBooks

January 21, 2021
Cleaning Up Quickbooks
Accounts Receivable: Cleaning Up When determining how much customers owe I usually view the AR Aging Summary report in QuickBooks as it is a nice compact report and I can click into any amount if I need more detail. It is a good idea to view the Open Invoices report once in a while though […]
January 21, 2021
How to Record Customer Deposits In QuickBooks
One of the most common issues I discover when cleaning up a new client’s QuickBooks’ account has to do the processes surrounding receiving customers’ payments and depositing them. Whether you accept credit card payments or take physical checks to the bank the amount that will actually hit the bank account is more often than not the […]
January 21, 2021
PayPal & QuickBooks Online FAQ
Throughout the year we see clients using PayPal in various ways which bring up a series of questions surrounding how PayPal integrates with QuickBooks Online (QBO). In this blog post let’s explore a few of the bigger questions that arise. Q: Do I need to formally add my PayPal account to the Chart of Accounts […]
January 20, 2021
How to Handle Petty Cash in QuickBooks
How to Handle Petty Cash in QuickBooks: Retain transaction data even on small cash transactions For those small dollar amount purchases it is often common to use cash, whether the cash is used to reimburse employees or to pay for the expense directly. Getting cash is as simple as writing a check to cash, but […]
January 20, 2021
Billable Expenses: A Guide from Your QuickBooks Trainer
Recurring vs. One-Time A lot of service professionals spend a lot of time and energy passing on expenses to their customers. Maybe you’re an interior designer and you buy furniture for your clients, then pass on a marked-up cost. Maybe you’re a painter and you buy the paint for your client. Maybe you’re an IT […]
January 20, 2021
Recording Credit Card Transactions In Quickbooks
Recording Credit Card Transactions in QuickBooks: Many options - One best practice Over the years I have seen many methods of recording credit card transactions. Some of the methods technically work, but they leave something out whether it is accurate dating of the transactions, detail of the individual transactions or the ability to reconcile the […]
January 2, 2021
How To Record Multiple Income Types in QuickBooks
How To Record Multiple Income Types in QuickBooks It’s important to properly record multiple income types in QuickBooks correctly. The P&L (Profit/Loss Statement) often grows longer than necessary because clients do not realize there are other ways to see detail on customers and income types, but rest assured there are. The income section of the […]
January 2, 2021
QuickBooks – What Account Type To Select?
QuickBooks – What Account Type To Select? Cost of Goods Sold? Expense? Other Expense? How to Choose. When creating new accounts in QuickBooks Online you are faced with a decision – what Account Type to select. Sometimes the decision is obvious, but for many transactions there can appear to be more than one correct answer. […]
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