The QuickBooks© Tune Up & Reporting Specialists
QuickBooks Attached Documents addresses the need for security by providing 4 levels of application permissions across 8 areas of QuickBooks functionality under an account overseen by a single user. Users log into Intuit’s secure servers using an email address and password. While we’re on the subject of security, there’s one small drawback: the password is [...]
In QuickBooks 2009 there are 6 reports to provide information about what customers or clients owe to a firm. They are: A/R Aging Summary A/R Aging Detail Customer Balance Summary Customer Balance Detail Open Invoices Collections Report These reports are found on the Reports->Customers & Receivables menu selection. Each report is intended to provide certain [...]
Yes, there are a few restrictions on making General Journal Entries to Accounts Receivable (A/R) and Accounts Payable (A/P) accounts. Normally, the preferred way to change the balance in an A/R or A/P account is by recording transactions, such as customer invoices or vendor bills. However, sometimes it’s more convenient to make a General Journal Entry. [...]
Sources and targets are important concepts to understand reporting in QuickBooks and use of the Advanced Find function. Sources and targets are terms assigned by Intuit to describe transactions. In most instances, the source of a transaction is the summary or total of the transaction. For example, the source of a check includes the amount [...]
QuickBooks supports 16 total general ledger account types in its Chart of Accounts. Each account is assigned a single account type, which can be changed, subject to certain restrictions. 5 Income/Expense Account Types for the Profit & Loss (P & L) Statement Income Expense Cost of Goods Sold Other Income Other Expense 11 Asset/Liability/Equity Account [...]
QuickBooks reports can be a valuable complement to the process of rebuilding a damaged company file (.qbw). After running the Rebuild Data utility, Intuit recommends that you proceed through these steps in the order listed to identify data damage that the rebuilding process repaired and to confirm that further data problems don’t exist. 1. Examine [...]
A balance sheet in QuickBooks can be produced on either a cash or accrual basis. A balance sheet that’s in balance is one where total assets are equal to the sum of total liabilities plus total equity. Sometimes, if your company file (.qbw) has become damaged, this fundamental accounting relationship can be broken because of [...]
In QuickBooks the home currency adjustment is calculated based on the difference between the exchange rate recorded with each transaction and the exchange rate as of the home currency adjustment. It’s calculated on: Open Accounts Payable transactions in a foreign currency Open Accounts Receivable transactions in a foreign currency Balance sheet account balances for which [...]
It’s relatively straightforward to prepare a report of invoices in number order and have QuickBooks automatically identify missing invoice numbers, such as where there are gaps in the sequence of numbers. The key to preparing this report is to use another report as a building block. Identifying sequential transactions and those items missing from the [...]
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