Articles

How to Select Summary Reports Basis in QuickBooks QuickTip

September 21st, 2012

QuickBooks Accrual-based or Cash-based Default for Reports

QuickBooks allows you to specify whether to see summary reports as accrual-based or cash-based. When you create a cash basis report, QuickBooks calculates the data by considering actual cash transactions. This means that revenue doesn’t exist in the report until a customer pays you—and the expenses don’t exist until you pay the vendor. When you create an accrual basis report in QuickBooks, the data is calculated to reflect all the transactions you have entered. This means that revenue exists when you generate an invoice for a customer and expenses exist when you enter a vendor bill. To set the default specification for your summary reports in QuickBooks:

  1. Choose Edit | Preferences from the QuickBooks menu bar.
  2. Click the Reports & Graphs icon on the left pane and click the Company Preferences tab.
  3. In the Summary Reports Basis box, choose either Accrual or Cash, and then click OK to save this setting.

QuickBooks News Update

September 12th, 2012

QuickBooks for Mac Update

CPA911, 9/10/12

QuickBooks 2013 for Mac is available on September 24th 2012 with some new features—like video tutorials for when you need help, the ability to import your address book contacts, and using the Intuit Payment Network, among other things.

http://www.macworld.com/article/1168431/intuit_debuts_quickbooks_2013.html

http://quickbooks.intuit.com/mac/?priorityCode=3969702399&CID=aff_cj_4165004

How to Enable Progress Invoices in QuickBooks QuickTip

September 6th, 2012

Partial Billing in QuickBooks

In QuickBooks, progress invoices are connected to estimates; you start by creating an estimate for the job, and then as you complete each phase of the job you move items from your estimate to a progress invoice (a partial billing). Using progress invoicing in QuickBooks allows you to invoice your customers in stages, as each invoicing plateau arrives, rather than all at once at the end of the job. You can create an invoice for part of the estimate, and you can show how much of the estimate you have already billed to the customer. In QuickBooks, when you use estimates to create progress invoices, you can track your estimated costs and compare them to your actual costs. In order to do progress invoicing you must create estimates, as the progress invoices are based on the estimates. To enable progress invoicing in QuickBooks:

  1. Choose Edit | Preferences from the QuickBooks menu bar.
  2. Click the Jobs & Estimates icon on the left pane and then click the Company Preferences tab.
  3. Be sure that the Do You Create Estimates box has the Yes box checked.
  4. Choose Yes in the Do You Do Progress Invoicing box, and decide whether or not you want zero amount items printed by checking the Don’t Print Items That Have Zero Amount box, or not.
  5. Click OK to save these options.

How to Set Up Bank Accounts for Payroll in QuickBooks QuickTip

September 4th, 2012

Selecting Payroll Checks and Payroll Liabilities Accounts in QuickBooks

If you do payroll in-house, you must tell QuickBooks which bank account to use for payroll checks and which bank account to use for remitting payroll liabilities. To set the QuickBooks default accounts to use for these payroll tasks:

  1. Choose Edit | Preferences from the QuickBooks menu bar.
  2. Click the Checking icon on the left pane to open the QuickBooks Checking preferences, and click the Company Preferences tab.
  3. In the Select Default Accounts To Use section, click the Open The Create Paychecks checkbox.
  4. Choose which bank account to set for payroll checks by using the drop-down list.
  5. Next, click the Open The Pay Payroll Liabilities checkbox, and choose which bank account to set for paying payroll liabilities by using the drop-down list.
  6. Click OK to save these settings.

QuickBooks News Update

September 1st, 2012

QuickBooks for Mac Update

QuickBooks for Mac 2012 has an update (R10), which has fixes for problems with recording transactions, printing bill payments, saving invoices, customizing forms, and using the Enter Time icon, among other things. When you click the link below, be sure to choose the correct product to update.

http://support.quickbooks.intuit.com/support/ProductUpdates.aspx?lid=UpdateDownloads%20%28SUB%20HDR%29