Using QuickBooks? Did you review payables before the last check?

Newer versions of QuickBooks will open a dialogue box “Open Bills Exist” and older versions may tell if you have a payable due to a vendor when you are in the check writing window but this is easily overlooked. If you ignore the question and opt to select the “Continue Writing Check” button or you …

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Closing and Locking a Period in QuickBooks

Have you ever mistakenly misdated a transaction in QuickBooks? Has your auditor ever asked you why equity did not match the prior year’s audited financial statements? Since QuickBooks does not require you to close your books after year-end, changing, adding, or deleting entries made in a prior fiscal year is a common mistake. So you …

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How to Clean Up Old, Uncleared Checks in QuickBooks

There are a number of reasons why you may have old, uncleared checks on your books. Whatever the reason, it is important to clean any checks that should be cleared off your books in order to make sure you are not overstating your cash balance. First, you need to determine if the money is still …

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Quickbooks – Tips to Reduce Errors

A significant portion of my career has been spent working with small or medium sized businesses that share two things in common.  They use QuickBooks for their accounting software and their accounting personnel are not trained on how to effectively use QuickBooks.  Without being trained on how to effectively use QuickBooks, the risk that errors …

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Quickbooks Online

I have a client that has been using the desktop version of QuickBooks since 2000 and is thinking about making a switch to QuickBooks Online.  They asked me how the online version compares to the desktop version.  The truth was that I had used both versions for what I needed from a tax reporting perspective, …

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