Quickbooks Tip: Use Customer Notes to Help Your Business Thrive

If your business is actively invoicing and billing clients, the “Note” function in Quickbooks online may be something you want to use.  This function could become a powerful selling tool for your business.  You can keep notes on all client contacts and even the client’s preferences: what color he likes, his favorite products, her love of cats.  The more details you have about a client, the more impressed s/he will be.
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Quickbooks Quick Tip

Quickbooks TipsHave you ever posted to incorrect accounts or classes for a few months in Quickbooks?  One way to resolve the problem is to go back to each transaction and change it manually.  This is both tedious and time consuming. Fortunately, Quickbooks has an accountant’s tool called “Reclassify Transactions.” 
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Quickbooks Online? How to avoid common mistakes:

Quickbooks Online

  1. Get educated and get familiar! Sign up for a live seminar. Intuit/Quickbooks also offers free online webinars. You can go to
    https://quickbooks.intuit.com/tutorials/webinars/ to sign up for free classes. In addition, there are resources and video tutorials that will demonstrate different tasks in Quickbooks. These can be found at: https://quickbooks.intuit.com/tutorials/
  2. Get consulted! Always contact your tax professionals before converting your desktop version of Quickbooks to the online version. Once converted, there is no turning back. Your tax advisors and accountants can help keep you on the right track.
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Quickbooks Tip of the Month: November 2017

Quickbooks 1099 Vendor ListIt’s time to update your Quickbooks 1099 vendor list.

Believe or not, the year is almost over and it is a perfect time to update your 1099, miscellaneous vendor list in QuickBooks. The IRS requires all 1099 vendors to provide to the payor a signed W-9 which is to be kept in the vendor file. QuickBooks offers a feature for setting up 1099 Vendors. If set up correctly, a simple report can be printed at year end for your accountant. If you prepare your 1099s and 1096 transmittal forms through Quickbooks, it can also be easily done. Maintaining a correct vendor EIN and address list helps eliminate the costs and stress associated with generating 1099 information at year-end. The steps for setting up a correct list are simple but require guidance. Please feel free to contact our office should you need help setting up the Quickbooks 1099 vendor list.

Quickbooks Tip of the Month: August 2017

Quickbooks tipWhat is the recommended Quickbooks company file (.qbw) size?

The recommendation is that a Quickbooks company file (.qbw) size for Pro/Premier should not exceed 150Mb. For Enterprise the file should not exceed 1GB. If the file is larger than the recommended size, it is at high risk for: slower processing of entries and creating reports, crashes, loss or corruption of data, and faulty backups.

To reduce the size of the company’s file, a process called “archive” or “condense data” is needed. This must be done cautiously AFTER a careful backup of the current Quickbooks file. This process will remove all of the entries prior to a period specified by the user. Ideally you would keep the records for the last 4 or 5 years, and any periods before that would be archived.

To find out the size of your Quicbkooks file, log into Quickbooks, then hold down the Ctrl key and number one (Ctrl 1). A box will appear and the file size is listed on the left section of the box. The file size is listed in kilobytes (K) where 1,000K equals 1 megabyte (Mb).

Check out more Quickbooks tips here.

Quickbooks Tip of the Month: July

Make QuickBooks automatically re-enter transactions that occur repeatedly.

The short cut to do this is to press “Ctrl+M” while you’re entering a transaction. You’ll get a “Memorized Transaction” tool that will allow you to specify the parameters in order for repeat transactions to work. You can schedule the transactions daily, weekly, monthly, etc. This can be done either as an automatic transaction entry or as a reminder item. For example, when you’re entering a $1,000 rent expense invoice and would like Quickbooks to enter this amount every month automatically, press “Ctrl+M”. A tool box will appear and will let you choose the parameters. For a monthly entry you would:

  1. Name the memorized transaction
  2. Select “Automate Transaction Entry”
  3. Under “How Often”, select “Monthly”
  4. Set the start date and numbers of entries, etc.

Quickbooks Tip of the Month: May

Did you know that you can save images of receipts using Quickbooks Online Mobile? This app can be downloaded free for Android devices from the Google Play Store or for iPad and iPhone devices from iTunes. Data such as expenses can be directly entered into Quickbooks online with a copy of the receipt attached. The expense will be imported directly into Quickbooks. This feature reduces the risk of losing important data and eliminates cluttered office space. In addition, Quickbooks Online Mobile app can be used for sales receipts, estimates, invoices and payments. The app allows users to have an image and notes attached to almost any transaction. For example, attach an image of a sample window to an estimate and send it to the client within minutes. Internet access such as a data plan or wi-fi connection is required.

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