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ANSWERS TO MOST FREQUENTLY ASKED QUESTIONS
Help! How Do I Remove Checks From The “Print Checks” List in QuickBooks Online? I Just Converted From Desktop to Online
You probably had some checks that were marked "To Print" in the desktop edition, but were never printed. No worries though, this can be taken care of pretty simply by one of two methods. There is a handy tool in the new QuickBooks Online that lets you remove the...
Using Classes and Sub Classes vs Accounts and Sub-Accounts in QuickBooks
The main difference between class and account, is that every transaction must have an account assigned to it, while it's optional to assign a class. So think of the class list as having a second chart of accounts which you can apply to transactions to group them into...
Should I Correct a Journal Entry That Was Made in a Previous Year
It is never a good idea to make changes to past accounting periods that you have already filed tax returns for. However, if you must, you need to ensure that the changes you are about to make will not throw off the previous years balance making them out of synch with...
How Do I Merge Two Bank Accounts in QuickBooks
First, I want to say that you need to be absolutely sure that both accounts are for the same bank account before making the merge. Once merged, it cannot be un-merged! Also, if you are using a desktop edition of QuickBooks, do make a backup before proceeding with this...
How Do I Delete a Memorized Report in QuickBooks
I do not recommend deleting memorized reports in QuickBooks as it has been known to cause the file to be corrupted. One alternative is to create a folder called something like "Inactive" or "Old" and move the unwanted memorized reports there instead. Of course, this...
QuickBooks Shortcuts to Help Simplify the QuickBooks Process
Using QuickBooks Desktop Shortcuts can really help to make life using QuickBooks easier. Here is a list to familiarize yourself with: Opening & Closing QuickBooks: CtrlStart QuickBooks without opening a file. This is useful if you are having problems with the last...
Cost of Goods Sold vs Expenses
Cost of Goods Sold are those costs that are directly associated with the production of a good or goods, or with direct service that leads to a sale. Expenses are all the other costs that are not COGS. See list of COGS and Expenses below: Cost of Goods Sold Accounts...
How to Create and Work With Estimates in QuickBooks for Contractors
Estimating is not only important for construction companies, but any company that produces Invoices, give quotes, bids, and proposals can use estimates in QuickBooks to get a handle on their job costing. Even if you do not provide your clients with estimates, you need...
How to Setup Payroll for Job Costing in QuickBooks for Contractors
There are several steps needed in order for payroll to flow properly to the job costing reports - especially if you want to include payroll taxes and benefits. The step-by-step instructions below will help guide you through the setup. You must have a QuickBooks...
How to Enter Tenant Security Deposits Correctly in QuickBooks
Tenant security deposits are not income and as such, they are to be held until tenant is giving up lease or given notice to leave. If at this point there are repairs to be done, the cost of the total repairs will be deducted and the remainder of the deposit returned...