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What is Quickbooks?

quick tips for quickbooksQuickbooks is a software solution to manage payroll, inventory, sales and other needs of small businesses. With this software you can monitor expenses, create invoices and reports, track orders, manage inventory, customers, vendors and employees. While this software is very intuitive,

There are several different products you can choose based on your needs and company size.  You can choose from Simple Start Plus Pack, Quickbooks Pro, Quickbooks Premier Contractor and Quickbooks Enterprise Solutions.  In every company that I have worked for we have used Quickbooks Pro.

Why I like Quickbooks

Quickbooks is great it makes my job a lot easier; and can do the same for you. It keeps all of the finances organized and in one place.  It helps to keep track of money coming in, money going out and how well the company is doing by providing needed reports.

  1. It is easy to enter customers; this is important to keep track of everything they buy, how much they owe and how much they pay. The information that can be input; the company name, client name, telephone number, address, website, e-mail address and payment terms. To do this Click on Customers and select Customer Center. When that screen comes up select New Customer and Job.
  1. Enter vendors to keep track of bills and when they are due. Enter the Vendor Name, telephone number, address, website, e-mail address and payment terms.To do this Click on Vendors and Vendor Center.  When that screen comes up select New Vendor.
  1. Run reports to help see how the company is doing. The reports that help me the best are the Profit and Loss, Balance Sheet, A/R Report and A/P Report. To find the Reports click on Reports and from there you can choose the ones that you want.


 Tips For Streamlining Quickbooks

  1. Make your icon bar your own. Quickbooks automatically sets up an icon bar for you.You can add or remove icons to fit your needs.  You don’t have to use the icons that they have set up as a default.  Everyone/every business is different so you may/may not use the icons that they have. To customize your icon bar right click and select customize icon bar.

    quickbooks custom toolbars

  1. Look over your Chart of Accounts. When you originally set up your company in Quickbooks it automatically assigns a Chart of Accounts (income,expense, etc.) that best matches the type of company you enter. It may have too much or too little information for what you need. You want to make it as easy as possible for you. To look over your Chart of Accounts Click Lists and select Chart of Accounts.From there you can see what you have and can edit right from this screen.  Just right click on an account and you can  edit or delete the account.
  1. Set up classes to help track what your company does. First of all make sure that Classes is turned on.  To turn classes on Click Edit, select Preferences, select accounting, select company preferences, select use class tracking.  You will have to enter the classes that you want (travel, meals, printing, etc.). To set up Classes Click List and Select Class List.  From there you can add the classes that you want. When you enter an invoice or bill there will be a drop down box and you can select the class that you want.   When you do this you can run reports and see how much money came in or was spent on meals, travel, printing, etc. I personally use classes and it helps out a lot!
  1. Export reports to Excel. When you run a report from Quickbooks you can view it but you can’t edit or add anything.  You can export the report to excel to read the report better,  make any changes you need (layout, etc.) or add any notes that are needed.  To do this open the report you want, Click the Excel drop down,  select Create New Worksheet, from there you can select a new excel worksheet or add the report to an existing excel sheet that you have.  Once the report is in excel you can make your changes.
  1. Backup Your Company File. It is very important to backup your company file each day to save the work that you have completed. You can backup to your computer, disk, or flash-driveIf you don’t back up and something happens then everything you have entered is gone and you don’t want that to happen.  If something happens and information is missing you can go back to the file you saved and all of the information will be there (as of the date you saved it).   To Back up Quickbooks Select File, Backup Company, Create A Local Backup, and Save.


Want more information on how to get Quickbooks for your company? Click the link to find out how to get started:

Need more tips on how to use Quickbooks? Click the link to find out more.

Do you have any tips or tricks that are not listed?  Please leave a comment below.