Please take a look at these shortcuts and “tricks of the trade” designed to save you time and make your QuickBooks experience even more productive.
When filtering reports in QuickBooks, you may want to select most of the items on a particular list, but not all items to appear on your report. First choose the “selected” option from the list (selected accounts, selected names, etc).Normally you would check each item that you want to appear on your report. However, if you want to check all the items on the list, click the first item and do not release the mouse button. While holding down the mouse button, slide the mouse pointer down just below the list.
When QuickBooks is done ? all of the items on the list will be checked. Release the mouse button. Now you can manually click the items to remove the ones that you do not wish to include in your filter.
To allow the sharing of your QuickBooks file, your best option is to have a computer network in place. This network will provide the foundation for you to then share the file between two or more computers. You can have either a wired or wireless network within your office.It is also possible to take a backup copy of the QuickBooks file from one computer and restore it to a second computer to allow sharing of the information. However, I don’t recommend this if both computers will be entering QuickBooks data. If you do this, you won’t know who has the most recent copy of the data file, and things can get messed up quite easily. Your best bet is to talk to a local computer consultant about a network for your home or office.
Here’s how you delete some of those old invoices that have been hanging around since 2002. This is a common problem in QuickBooks. Here’s the fix – for each entry that is showing up in your Reminders list under “Invoices to Print”, double- click on it. This action should take you to the invoice itself. Once here, remove the check mark in the box in the lower left hand corner that says “to be printed”, then click “Save and Close”. This invoice should no longer show up in the “Invoices to Print” list.
Next, you’ll need to identify those vendors who are eligible to receive a 1099. Click on Vendors, then Vendor List. Double-click on the first vendor in the list, then the “Additional Info” tab. In the lower left hand corner, put a check mark in the box that says “vendor eligible for 1099” and enter their tax ID number they have provided. Repeat this process for any vendors that need to receive a 1099.
Finally, to run the 1099’s and related information, click on Reports, then Vendors, then either of the 1099 reports. Verify the data, correct if necessary, and print your 1099’s all within QuickBooks.
It’s important to review this topic with your accountant to ensure you are collecting the proper information and preparing the 1099 forms correctly for your business.
If you have customers who are also vendors you may decide to trade some or all of your services / products in exchange for payment.To record such a barter transaction, invoice the customer for the goods provided or services performed as you normally would. To record the “payment” use the “Receive Payment” function to apply the barter amount against the invoice the same as you would when receiving cash or a check as follows:
Go to Customers: Receive Payment. Payment Amount will be the barter amount (the amount of the invoice you received from your vendor). Pmt. Method will be Barter. Check the radio button for “Group with other undeposited funds”. Save this transaction.
Go to Banking: Make Deposits. The payment you just received will come up in the Payments to Deposit screen. If there are also other payments to deposit, make sure you select only the payment(s) being recorded for the barter exchange. When you hit OK the Make Deposits screen will come up with the barter deposit(s) showing. Before recording the deposit make a negative deposit entry on the next blank line below the barter deposit for the amount of the barter as follows:
Deposit To is your normal operating checking account. Date is the date you would have normally paid your vendors invoice. Memo should be changed from Deposit to Barter.
If you have entered the vendors invoice as a bill for payment, Received From is the vendor name and From Account is Accounts Payable.
If you have not entered the vendors invoice as a bill for payment, leave Received From blank. In the From Account column select the expense account you would charge the vendors invoice to, the same as if you were entering it for payment. In the Memo column note the vendors invoice number.
In the Amount column enter the vendors invoice amount with a negative sign first. This negative amount should exactly offset the deposit amount above, resulting in a “Zero” deposit transaction. Save the “deposit” and the transaction is complete.
Do not pay your payroll liabilities from the “Write Checks” window. If you use this window, QuickBooks will warn you to use the “Pay Liabilities” window, but will let you write the check. However when you print the 941, it will not reflect any payments that you made using the “Write Checks” window.Use the “Pay Liabilities” window to create checks for all tax liabilities. Using this window will ensure that the payments are reflected accurately on the 941 report and that your liability accounts are properly reduced.
CTRL+A brings up the Chart of Accounts right awayClosing QuickBooks Shortcut
ALT+F4 closes QuickBooks software