Last week, the Savannah Morning News teamed up with bounded accounting close Hancock Askew & Co. to acknowledgment any and all of your QuickBooks questions. Seven of the firms business advisors, managers and accountants volunteered two hours of their time to acknowledgment calls and online questions about QuickBooks and added accounting needs to advice our readers acquisition solutions to accumulate their baby businesses active smoothly.
The afterward are the questions and answers our experts anticipation would be best accessible to our readers.
Q: How do I appropriately assort assertive expenses?
Be abiding to never use “Miscellaneous” across-the-board accounts. Consistently try your best to aces a specific account. If you’re unsure, aloof use the “Ask My Accountant” annual or ability out to your accountant anon for description on the best way to appropriately assort transactions. Also, consistently be abiding to accommodate a bell-ringer name on all transactions; never leave it blank. This will advice ensure that bell-ringer balances are actual at anniversary for 1099 purposes.
Q: How do I acceptation my accountant’s changes?
The action for importing changes is absolutely actual simple, admitting it may alter a bit depending on what year your QuickBooks adaptation is. All you charge to do is go to the “File” agenda at the top of your file, again “Send Company File” and you’ll baddest “Accountants Copy” followed by “Client Activities.” Already there, you’ll accept to acceptation accountant changes from the book or web depending on how the book was beatific to you. It can’t be fatigued abundant how important it is to get adjustments from your accountant alien into your book already they’re received.
Q: What are some accessible QuickBooks tips?
If you’re application QB Desktop, you can columnist “Ctrl F” and chase for specific transactions. This is decidedly accessible if your coffer adaptation is off by a assertive amount. You can chase for that specific bulk and generally the transaction is aloof miscategorized and hitting a altered coffer annual or acclaim card.
If you acquisition yourself entering the aforementioned drop or amount anniversary month, one way to acceleration things up is to accept them admission automatically from QuickBooks by ambience them up as alternating transactions. Don’t balloon to advance the aphorism affection in QuickBooks. This can advice with booking repetitive affairs anniversary month.
Q: How do I apperceive what the best accounting software is for my firm? We currently alone accept a point-of-sales arrangement and use Excel.
The articles for accounting software that are currently accessible alter from simple cloud-based applications to able-bodied and industry specific. To adjudge what you need, it is best to alpha with the users and what you appetite out of the software. If you accept aloof one user and charge basal financials, again a artefact such a QuickBooks Desktop or a standalone software may be the answer. If you accept a charge for assorted users and alien access, again allotment software that has a multi-user affection and is hosted or cloud-based is your best bet.
QuickBooks Online would additionally be a abundant cloud-based option. There are added competitors such as FreshBooks and Sage 50cloud, but QuickBooks Online is by far the best accepted and best-suited. QuickBooks Online is additionally the software that best CPA and accounting firms use, which would accomplish alfresco abutment and appointment easier to find. Finally, amount is a above factor. Accounting software processes alter greatly, too, from baby annual fees to ample sums for added abundant projects. Overall, you should accede contacting a able for a complete appointment on what to use as every business and industry will accept different needs.
Q: Do I accept to pay sales tax if I use my own articles in the office?
If you purchased a artefact tax-free with the absorbed to advertise it in your abode of business and you adjudge to use it instead, again you charge pay use tax on the annual back you book and pay your sales and use tax address anniversary filing period.
Q: Why don’t my antithesis area and accumulation and accident annual match?
If you acquisition that your numbers are not balancing, a acceptable abode to alpha is the “Verify Data” apparatus beneath the “Utilities” menu. The “Utilities” agenda can be begin at the top of your QuickBooks book beneath the “File” menu. A lot of times, if your book gets shut bottomward afield or there’s a annihilate aural QuickBooks, application this apparatus will acquiesce QuickBooks to acquisition the absurdity and attack to actual it.
Q: If the cyberbanking affiliation is down, do I charge to manually admission all affairs one by one or is there addition way to acceptation the transactions?
Luckily, QuickBooks has another methods for importing affairs back article happens to the cyberbanking connection. The methods alter amid QB Desktop and QB Online, but in general, you will download the affairs into Excel. Ideally, if your coffer has the option, download into a web affix book (.qbo book extension). For QB Desktop, you will go to “Import” beneath the “File” or “Banking – Coffer Feeds” agenda and acceptation the called file. The prompts that chase are actual user-friendly. For QuickBooks Online, you aloof go to your coffer feed, baddest “File Upload” from the “Update” drop-down agenda and acceptation the book anon into your coffer view.
Q: How do you add sub-bank accounts in QuickBooks online?
To add a sub-bank account, you charge aboriginal accomplish abiding the ancestor annual is added. Again you bang on “Accounting” on the larboard and “Chart of Accounts.” In the top right. bang “New.” This will accompany up a awning to add an account.
Fill out the chase advice and save:
Account Type: Bank
Detail Type: Checking, Savings, etc.
Name: What you would like the sub annual to be named
Check the box “is sub-account” and aces the coffer annual you appetite to be the ancestor account.
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