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Archive for the 'Accounts' Category

How to Enable a Numbered Chart of Accounts in QuickBooks QuickTip

Sunday, August 26th, 2012

Using Account Numbers in QuickBooks

QuickBooks does not assign numbers to accounts as a default in your chart of accounts, and you should switch your QuickBooks configuration options to correct that oversight. A chart of accounts with numbers is easier to design, and easier to work with, and your accountant will love you. Numbered accounts also have account names, of course, but the accounts are arranged by number, not by name. You will appreciate how important account numbers are when you create and customize reports.  To enable QuickBooks to use account numbers,

  1. Choose Edit | Preferences from the QuickBooks menu bar.
  2. Click the Accounting icon on the left pane to open the Accounting preferences, and click the Company Preferences tab.
  3. In the Accounts section, select the Use Account Numbers check box, and click OK to save this setting.

How to Automatically Recall Information in QuickBooks QuickTip

Sunday, May 27th, 2012

Pre-filling Data on Transactions in QuickBooks

QuickBooks has an option to Automatically Remember Account Or Transaction Information, which tells QuickBooks to pre-fill data on transactions (bills, checks, invoices, and sales receipts). You must choose one of the methods available for pre-filling transaction data if you decide to use this option. The first option, Automatically Recall Last Transaction For This Name, means that QuickBooks will present the last transaction for any name (for instance, a vendor) with all the fields filled with the data from that last transaction. Most of the time, you merely have to change the amount. All the other information (such as the posting accounts, and the text in a memo field) can often be retained for the current transaction. If you choose Pre-Fill Accounts For Vendor Based On Past Entries, for vendor transactions only, QuickBooks tracks the accounts you use for each vendor over time and when a pattern emerges the accounts are pre-filled in the transaction window. To use this option:

  1. Choose Edit | Preferences from the QuickBooks menu bar.
  2. Click the General icon on the left pane and then click the My Preferences tab.
  3. In the Automatically Recall Information box select the Automatically Remember Account Or Transaction Information by clicking the check box.
  4. Select either the Using Automatically Recall Last Transaction For This Name option or the choose Pre-fill Accounts For Vendor Based On Past Entries by choosing the appropriate check box.
  5. Click OK to save your settings.

QuickBooks Add Account Numbers QuickTip

Wednesday, April 18th, 2012

Enabling Account Numbers in QuickBooks

By default, QuickBooks does not assign numbers to accounts, and you should switch your QuickBooks configuration options to correct that oversight. A chart of accounts with numbers is easier to design, and easier to work with.

To enable account numbers in QuickBooks choose Edit | Preferences to open the Preferences dialog box. Select the Accounting icon in the left pane and the Company Preferences tab in the right pane. Check the Use Account Numbers option to enable account numbers.

How to Resort the QuickBooks Accounts List

Wednesday, March 28th, 2012

Resorting the Chart of accounts List in QuickBooks

We receive many queries about problems with the QuickBooks chart of accounts list not displaying in the correct order. Sometimes the problem is in reports (including the balance sheet and the P&L report); sometimes the problem is in the drop-down list of a transaction window.

The cure that usually works is to resort the list. Open the Chart of Accounts window and click the Account button at the bottom of the window. Select Re-sort List. When QuickBooks asks if you're sure you want to return the list to its original order, click OK. Incidentally, the Chart of Accounts window may be displaying the accounts properly, even when reports and transaction windows don't.

 

How to Avoid Confusion With Multiple QuickBooks Bank Accounts

Sunday, March 25th, 2012

How to Change the Color of QuickBooks Account Registers

In our last newsletter we explained how to change the bank account that was used when a check was inadvertently created in the wrong account. A QuickBooks consultant wrote to tell us that she has clients change the display of the color of the bank registers so they match the color of the physical checks.

To change the color displayed in the bank register, open the register from the Chart of Accounts window. Then choose Edit, Change Account Color from the QuickBooks menu bar. Select a color that matches or comes close to the color of the physical checks. When you open the Write Checks window, the color of the check changes to match the color assigned to the register. Thanks to QuickBooks consultant Liz Fleming for this tip.