Accounting Software

QuickBooks – Know Your Roles

Understanding QuickBooks roles when using QuickBooks is critical, and the failure of an employee to know and understand their role can be highly destructive of the software’s usefulness. An example is the failure to use items or using them incorrectly.

Recording Sales

Items are essential to the correct functioning of QuickBooks. Without the use of items there is very little you can do in QuickBooks. Items are used in recording Read the rest of this entry »

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Do You Need QuickBooks?

The title of this is really intended to get you thinking. Whether it’s QuickBooks or something else, you do need some kind of accounting system, and preferably something besides a manual system. While there are still companies that can get by with a manual system, even most of these would reap significant benefits from an accounting software package.

Accounting or Accounting Plus

Sometimes requirements involve more than just a basic accounting system. For example, if the items you sell Read the rest of this entry »

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3 Serious QuickBooks Errors

Before using QuickBooks it is wise to understand some of the important things to practice to obtain the desired results. Here are 3 Serious QuickBooks Errors that are common and should be avoided.

Items Used Incorrectly

If you have used QuickBooks at all then you probably know the importance of using items. Items are one of the lists used in QuickBooks, and without them it is just about impossible to accomplish anything when using this software. You cannot even Read the rest of this entry »

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QuickBooks Non-Inventory Items

If you are a user of QuickBooks you are most likely familiar with the importance of items to use the software correctly. You probably also know that there are several types of items, such as Inventory Item, Fixed Asset Item, Sales Tax Item, Sales Tax Group Item, Sub-total item and others. Let’s take a look at one in particular; QuickBooks Non-Inventory Items.

How are Non-Inventory Items Used?

QuickBooks non-inventory items (non-inventory parts) are used to Read the rest of this entry »

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Calculating Internet Sales Taxes

In an earlier blog (Internet Sales Taxes) we looked at where the U.S. stands on implementing sales taxes for internet sales in states where the seller lack nexus. The bill passed by the Senate (Marketplace Fairness Act) is intended to level the playing field for brick and mortar and internet businesses and address tax concerns expressed by states. That discussion touched on what the impact would really be and whether it actually did level the playing field. Again, this bill now Read the rest of this entry »

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QuickBooks is Not an Accountant

Accounting is one of those areas often viewed as a “back of the house” function. Many see is as a necessary evil and just another cost. In an attempt to reduce this cost, many companies think all they have to do is use QuickBooks. Think again! Quite simply, QuickBooks is not an accountant.

Motivation

There are two prime motivators for companies to try to get by just by installing QuickBooks. One, as hinted above, they believe they can reduce costs. Another is that they can Read the rest of this entry »

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