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 […]
How Can I Close Transactions With a Customer Who Is Also a Vendor Who Only Paid the Net Balance On an Invoice?
For some businesses, another firm is both a customer and a vendor. If you’ve invoiced that firm (as a customer) while they have billed your company as a vendor, they may opt to pay the net amount owed for simplicity and to preserve their own cash balance. In that case, you’ll need to find a […]
How Do I Record the Sale of a Fixed Asset On a Lease?
If you’ve already accounted for a leased asset as a fixed asset, you’ve accounted for that asset as a capital lease, sometimes called a finance lease, as opposed to an operating lease. We’ll assume that the capital lease determination is correct and proceed from that point. Capital leases impact a firm’s balance sheet, and the […]
Do Deposits Appear In a Center, Such As the Customer Center?
Deposits don’t appear in a Center, such as the Customer Center under normal circumstances. The 3 Centers (Customer, Vendor, and Employee) only include transactions where the transaction source matches the Name shown in the Center. For a Deposit, a customer is not considered the transaction source. Instead, it’s the target. Sources and targets are an […]
What Are Sources and Targets?
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 […]
How Do I Reduce the Cash In My Cash Drawer To Deposit the Funds In My Bank Account?
To reduce the amount of cash in your cash drawer and deposit the funds in your bank account, you need to record a cash drawer payout. If you have POS integrated with QuickBooks financial software, it’s valuable to understand how cash in a cash drawer is accounted for in QuickBooks. Cash payments from customers are […]
What Are Payment Methods?
As the name suggests, Payment Methods are a list of the ways by which a customer can make a payment. They’re maintained on the Lists->Customer & Vendor Profile Lists->Payment Methods menu selection as 1 of 9 profile lists for Customers & Vendors. This particular profile list is only used for Customers. A Payment Method can […]
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