Posts

Young girl in shirt holding hands apart in gesture of confusion and smiling at camera on yellow.
QuickBooks accounting software has acquired acclaim owing to its several benefits that have made business accounting and bookkeeping tasks such as invoicing, tracking cash flows, and creating accounting reports agile and effortless. QuickBooks provides small businesses with the ability to manage accounting transactions adeptly,without the need to maintain day-to-day accounting information in manual books of accounting. Manual tasking has, thus, been reduced and this has yielded a paperless and efficient work environment.

Features of QuickBooks Online

The online version of QuickBooks, originated in the 2000s, has been embraced by small businesses ever since it’s introduction. This online version has the following eminent features that differ from those of the desktop version:

  • Requires internet connectivity. It offers a free 30-day trial to all users.
  • Entails automated features for processing invoices and receipts, generating and emailing reports, and downloading business transactions.
  • Since QuickBooks Online is cloud-based, it may be accessed remotely on an internet enabled device from anywhere around the world. Multiple device access is also one of its features. 
  • Phone support feature that comes free of cost as part of the package.
  • Allows for automated data-encrypted back-ups as an inbuilt functionality.
  • Enables access to the latest product and feature updates as well as cloud access (hosting) free of cost. It also offers access for up to 5 users.
  • Requires a monthly subscription and allows for only limited customization relative to the Desktop version.

Features of QuickBooks Desktop

QuickBooks Desktop has been around since the 1990s. Its various features that differ from the online version have been listed below:

  • Requires an upfront software installation process onto the system. It can be accessed from one’s computer system regardless of internet connectivity.
  • Unlike the automated features available in QuickBooks Online, invoicing, billing, emailing and report generation must be processed manually.
  • Installed on a computer and can only be accessed through it. Remote access is not a possibility in this version.
  • Does not allow for free support functionality, but phone support may be purchased for $89 for 90-days.
  • Automated data-encrypted backups can be purchased for $9.99 on a monthly basis.
  • Allows up-gradation for accessing product/feature updates. This annual upgrade costs $299. Cloud Hosting may also be purchased for each user on a monthly basis.
  • Comes with additional features such as calculation and re-billing of job costs and discount calculation for customers.
  • Has a customization feature available that may be used by any and all businesses per their specific needs.
  • Does not require monthly payments, but a single annual payment must be made.

Which Version is Right for your Business?

Given the available options, small businesses are often confused about which version of QuickBooks to choose for their newly set up business. Below, a distinction has been made for the choice of the version that may fit well with your diverse business needs.

When QuickBooks Online is the Best Choice

  1. Your business requirement is such that employees need to access the accounting records remotely. Moreover, if multiple access is required by different people simultaneously, the online version is best suited for your business.
  2. Your business requires consistent and additional support.
  3. Your business believes in the virtual reality of shared resources and coordination through a cloud-based system.
  4. Your business believes in automation that comes at an affordable monthly charge.

When QuickBooks Desktop is the Best Choice

  1. Your business has a single location.
  2. Your business has poor internet connectivity available in the area of location.
  3. Your business does not require remote access by multiple users; all data must only be accessed within the office premises.
  4. Your business requires customization for features such as budget tracking and expense monitoring.
  5. Your business believes in safeguarding its data on the desktop to avoid sharing critical information on the web.

The distinction between the various features of QuickBooks Online and the Desktop version can assist businesses with the decision to choose either one for their specific business requirements.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

 

 

Typing on laptop close-up. Man working on computer. Business team in office. Meeting report in progress. Film effect, blurry background. Statistic graph overlay, icon innovation interface
QuickBooks is an accounting software that allows you to manage and organize a wide range of accounting activities such as bookkeeping, the creation of financial statements, and much much more.

In QuickBooks, accounts can be listed into different categories according to their nature, i.e. assets, liabilities, income, and expenses. Coming across a situation when you’d like to look into the information regarding a line item in QuickBooks, you will have to set up a separate account for that particular line item. Similarly, when you need to report financial information on a tax return, you have to create an account to collect and report the required data.

Account Creation: How to Create A New Account?

In QuickBooks, if you want an expense account to be assigned to a tax line, you will have to create a new account. In order to do so, first open the menu called “Chart of Accounts” and then click on the button labeled “Account”. After that, click on the “New” button. This will now open a menu where you can choose between multiple account types. Choose the “Expense” account option and then click on the button labeled “Continue”. You’ll be prompted to enter the name that will be used to identify your new account. You’ll then be given the option to make this account either a sub-account or the main account. After checking the appropriate box, you can click on the button labeled “Patent Account”. With this, you will have created the expense account that you will later assign to the tax line.

Add Additional Information to the Account

Once you’re done with the creation of the expense account, you’ll be able to record information that is relevant to your account. For example, if you just created an expense account that relates to a particular utility, you can mention the name of the utility or the service provider, your unique customer number, and any particular dates such as the billing dates. There are different drop-down menus available to allow you to enter and sort the information relevant to the expense account you just created.

Assigning the Particular Expense Account to a Tax Line

In order to do this, you first select the “Tax Line Mapping” menu in QuickBooks. Here, you’ll be able to see a drop-down menu which will include multiple tax lines, allowing you to select and choose the one that you think is relevant to the expense account you created. Once you’ve selected the tax line, you’ll be given a list of expense accounts to choose from. Here, you can choose the particular account you want to assign to the tax line.

Alternatively, you might want to assign a preexisting account to a tax line

In QuickBooks, if you want to assign an expense account that exists beforehand, you first need to go to the “Chart of Accounts” menu. Once there, you can right-click the specific expense account that you want to assign to a tax line. Once you see the right-click menu, choose the edit account option. Next, choose the particular option that allows you to change the “Tax Line Mapping” data. The drop-down menus that you will see next can be used to select the relevant tax line and tax form.

What your Accountant can do for You

If you have given your accountant or bookkeeper access to the data you enter into QuickBooks, then the best possible decision is to let them handle the assignment of any expense account to the respective tax liens. This helps in ensuring the accuracy and consistency of bookkeeping and other activities. If you think you have to adjust any expense accounts and their relevant tax line, then it is recommended that you consult your accountant before making any kind of changes to the mapping in QuickBooks. This prevents any kind of hassle in the future where you might need to backtrack through incorrectly entered or calculated data.
Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

Business colleagues working together on a computer in an office.
Innovation, such as QuickBooks, has revolutionized traditional accounting procedures. The greater emphasis on automation of the various processes has enabled a real-time exchange of information, increased mobility via remote accessibility to information, and greater autonomy to business owners who are now less dependent on their financial advisors. This is primarily because automation has made information easier to comprehend. The plain and boring manual bookkeeping is now more interactive and fun following the advent of accounting software like QuickBooks.

Why Not QuickBooks Desktop?

Initially, QuickBooks Desktop was introduced during the 1990’s and was welcomed by many businesses in order to simplify their accounting procedures. Despite its various features allowing for greater customization in terms of tracking expenses, sales as well as generation of budgets and reports, this desktop version has been outdone in terms of performance by QuickBooks Online. The reasons that led to a decline in its popularity and necessary upgrade to a newer version are as follows:

  • The single user mode has been an obstacle for many businesses that require multiple user scenarios within the company. This obstructed the access to the desktop system by a user at all times. Single user mode only allows one individual to log into the system and work on it. Multiple user mode is a necessity for businesses today, owing to their virtual transcendence and the need to have real time access to data remotely.
  • Another issue that was faced by businesses using QuickBooks Desktop was the disruption caused due to the annual upgrade. This not only cost additional money to the business but also led to system disruptions and hanging.
  • In addition to the previous point, any and all disruptions caused by the system upgrade had to be managed through paid support. This version of QuickBooks does not come with free support, rather it must be paid for.
  • Furthermore, the installation of an upfront software onto the server has been boisterous for businesses. The 21st century is marked by cloud-based tools to share resources and information in real time. The use of an installed system seems obsolete in the present era. This is most likely to entice the movement from QuickBooks Desktop to QuickBooks Online.

Why QuickBooks Online?

With the introduction of a newer version, businesses have switched to this online version of the software. The additional benefits derived from this upgraded version are as follows:

  • Allows for a multiple login mode whereby up to 5 users can have access to the interface from any remote location via an internet enabled device – PC, Mac Book or Tablet.
  • Another benefit of switching over to this version has been the increased automation. Invoice scheduling, connecting to online applications, and online hosting phone support have all become available with this newer version.
  • Moreover, QuickBooks Online allows for automatic downloading of all business transactions, a feature that was missing in QuickBooks Desktop.
  • The cloud-based online presence of information and resources has allowed businesses to move over to this version, thereby enabling virtual transcendence across the globe.
  • Any and all software upgrades are provided free of cost, unlike the desktop version of QuickBooks. The latest updates on products and features are also inbuilt into the system, requiring no additional cost.
  • Lastly, another important reason for this upgrade has been the cost savings through the QuickBooks Online version, which demands a monthly subscription, relative to the annual payment that was required for the desktop version. In addition to this, no software installation is required, an internet connection is all that you need to start its 30-day free trial.

As a result of the upgrade in its various features, QuickBooks Online has captivated attention of most businesses that are now switching over to the more flexible and mobile version of QuickBooks.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

Wooden road sign with text Payroll against blue cloudy sky.
Understanding QuickBooks Payroll can be a bit of a challenge for some. Whether you carry out the work of payroll on a desktop or in the cloud, you confront a lot of options that guide you with managing payroll according to your needs. QuickBooks is a widely used package by bookkeepers, accountants, and customers. However, there are many users who get confused when they see all of the options related to payroll. It is crucial to understand these beneficial options to carry out tasks effectively, without disturbance.

Desktop Payroll

For those who use QuickBooks desktop payroll, it is essential to know that there is no necessity to fill out the payroll tax form and it comes at a low cost. On the other hand, you can do on your own by filing the payroll tax and good job costing. The work related to job costing is easy in the version that is introduced in desktop. It is considered quite convenient for contractors who want to code for functions. The worker’s comp code can easily utilize all of these aspects in QuickBooks desktop payroll. The same feature is not as easy in QuickBooks online.

Full Service Payroll 

In the course of payroll, full service payroll is considered another effective option when clients are looking for some one rather than you. This is because they need someone to take responsibility for their tax payments and filings. In this respect, full service payroll takes the responsibility of federal and state payroll fillings as well as payments from the accounts of the user.  

Online Payroll

It is important to acknowledge that there is a great difference between QuickBooks online payroll within the domain of QuickBooks online. The most important aspect is that one must be sure that tax rates and previous payrolls are managed and recorded properly. It is essential because it is not easy to adjust them. However, this aspect can be easily sorted out through QuickBooks desktop. The other good thing about QuickBooks online is that they identify the names of their products in the format that you are using.

 Benefits of QuickBooks Payroll

QuickBooks, itself, contains a lot of benefits for small business. It is important to have command over QuickBooks payroll which makes the work easier for those who have a hard time managing accounts. This effective component helps a lot in the management of taxes and keeping the accounts clear regarding employee payments and the number of employees that are engaged in the business. The work can be easily managed on desktop and online. QuickBooks is easy for small business owners to keep appropriate records and proficient bookkeeping. The demand of QuickBooks payroll is increasing day by day because it is so easy to manage. The software is full of options that make it possible to carry out financial and tax work accordingly. It is becoming the first choice among small business owners. For those who are not familiar with the procedures, there are websites that can instruct them on how to get through the process. 

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

QuickBooks


QuickBooks has proven to be a useful invention in the discipline of accounting and bookkeeping, especially for incumbents and small businesses. Despite the market being flooded by many similar accounting software, such as Xero, Wave, FreshBooks etc., QuickBooks has taken the lead by transcending the competition. It has been the most favorable among small business owners. It’s several versions are catering to multiple business needs that other competing software lack to date. Its transcendence in the market for serving small businesses are attributed to the following reasons.

Diversity & Flexibility

QuickBooks is available in different versions allowing for greater diversity in serving small businesses. Small business owners can choose from an array of versions depending on their unique business needs and specifications. For instance, QuickBooks Pro, QuickBooks Online Plus, QuickBooks Mac, QuickBooks Hosting, QuickBooks Premier Hosting and the sort. Each one comes with a unique set of features to enable businesses to choose the one that fits best with their business needs. The various versions may be purchased according to one’s budget as well, allowing for even more flexibility. Hence, QuickBooks leads the competition through flexibility in pricing and features.

User Friendly

Another reason for this market transcendence is the user friendly interface that it comes with, allowing for easy access and use within the business. Employees working on a legacy system are generally more resistant to change. Traditional bookkeeping has been popularly replaced by accounting software which may be a source of intimidation for employees at work. However, QuickBooks helps with the initial phase of using the software step-by-step and also extends the option to seek professional help, if need be.

Compatibility

QuickBooks offers a compatible interface that may be integrated with multiple vertical market applications easily and without much trouble. This superior compatibility helps with aligning and streamlining every single process within the organization and allows for savings in terms of cost, time and effort. Automation sounds like a brilliant idea when it comes to accounting, but automation to this extent is no less than a miracle for small businesses.

Customization

In addition to the above reasons, QuickBooks has been successfully outperforming the competition due to its ability to customize almost everything related to accounting and bookkeeping. One can customize a chart of accounts to their specific business needs, customize invoices, sale receipts, and estimates. You name it and QuickBooks has it covered! It sure is a one-stop solution for all your tedious accounting hustles.

Simplification of Tasks

QuickBooks has been an innovation in the market to help serve small business needs related to complicated and enervating accounting procedures and activities. Not only has it provided a complete and sorted package for A to Z accounting but it has helped with simplifying complex spreadsheets, returns filling, reconciling, invoicing, and financial reporting tasks throughout organizations, especially for small businesses.

Unlimited Features

QuickBooks has also taken over full responsibility for performing all of the accounting tasks with the provision of its various features. It manages cash flows, invoicing, billing, receivables and payables, employee performance, bank transactions, check printing, online banking, emails, payroll as well as financial reporting. Other features include access to its online version from any and all internet-enabled devices. This is particularly useful for small businesses that are operated remotely.

Business Tracking

Another one of the many reasons why QuickBooks has led the market competition is the streamlining and automation that it has facilitated for small businesses. With its use, business owners have been empowered as they can now track each and every business transaction and workflow hassle-free and in a seamless manner. This has enabled a transparent work environment for small business owners.

Conclusion

Therefore, based on the numerous reasons identified above, QuickBooks has remained victorious in establishing a position for itself in the market – a position that transcends that of any competitor serving small businesses.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

 

 

 

 

Man creating statistics in modern office. He working on digital devices while sitting at table and turning back to camera
QuickBooks accounting software, designed by Intuit, is known for being one of the best accounting software programs on the market. Although it may not be the most important decision for small business owners, it is essential to differentiate between different suites of QuickBooks. Every QuickBooks software program offers different features that suit unique business operations. Rather than spending money on the wrong type, one should wisely compare QuickBooks Pro vs Premier to find out which version is best for their business.

When new to QuickBooks, it is not easy to differentiate between both editions as both have multiple attractive options. This article will help you decide on the best edition for your business. If you are looking for a desktop edition of QuickBooks, you are likely stuck between QuickBooks Pro and QuickBooks Premier for your small to medium scaled business. Before comparing the features of both editions, you must understand what QuickBooks is and how it can help you in your business operations. QuickBooks is known for being the smartest accounting tool for small business owners. Small to medium sized business owners prefer using QuickBooks for managing their accounting and bookkeeping processes such as paying invoices on time, accepting payments from vendors, and tracking inventory expenses in one single platform. However, before purchasing any product of QuickBooks, one should understand the following points:

  1. The features of QuickBooks products can change. Therefore, research the bookkeeping software just before purchasing any product.
  2. The products in a QuickBooks portfolio have nuances as there are very minor differences between each product.
  3. The products of QuickBooks can be discontinued or replaced with a different product by the developers. Therefore, carefully analyze the product before making any purchases.

 QuickBooks Pro

QuickBooks Pro is a product of Intuit’s QuickBooks accounting software that is designed with an aim to simplify the basic accounting tasks of small business management. Being the oldest product of Intuit in the business accounting range, QuickBooks Pro was created in early 2000. However, to date, QuickBooks Pro has evolved with the ever-changing needs of businesses today.

QuickBooks Pro is a complete software package for businesses who are aiming for a less complicated and more user friendly accounting system. The software does not have additional packages, however, this makes QuickBooks Pro more affordable than the Premier edition.

 Main Features of QuickBooks Pro

QuickBooks Pro has many built-in features to assist businesses in their accounting operations: 

  • Multi-Monitor Support: QuickBooks Pro allows licensed customers to take care of their business faster on three monitors. The program will allow three users of your business to operate with one licensed purchase. With this, a business can manage the list of customers on one screen, while tracking invoices and payments coming from the customer on the other two screens.
  • Past Due Stamp: Another attractive feature is that the program will automatically update a “Past Due” stamp over the invoices that have crossed their due dates. This feature will help in tracking debts and accounts receivables.
  • Search Chart of Accounts: This option enables the bookkeepers of a business to easily track any account or sub-account for speedy accounting.
  • Cash/Accrual Toggle: The software makes it easier to filter results with cash or accruals. This way, a business can compare their performance on a cash and accrual basis.
  • Payroll Liability Reminder: Another great feature is that it reminds a business of their upcoming liabilities.

QuickBooks Premier

QuickBooks Premier has almost every feature of QuickBooks Pro with a few additional, attractive features according to the needs of a business. The software has multiple versions that are tailor-made for a business, according to the industry they operate in. Businesses have the option of 6 industries to choose from, such as:

  1. General Business
  2. General Contracting
  3. Non-Profit
  4. Professional Services
  5. Retail
  6. Wholesale & Manufacturing

Additional Features of QuickBooks Premier

  • Multi-Monitor Support: Up to five users.
  • Inventory Reports: Flexible and customized inventory reports.
  • Search Chart of Accounts: Track any account or sub-account of the business.
  • Cash/Accrual Toggle: Compare performance on a cash and accrual basis.
  • With Pro, a business can easily get a snapshot of their customers.
  • The software allows accountants to use the Income Tracker feature which will show all unpaid dues of the company.
  • By using QuickBooks Pro, you can easily extract important data of your customers in an Excel format.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.


 

Businesswoman studying business papers on her desk. Woman working in office sitting at her desk.
Small business owners are often searching for cost-effective solutions to manage their business needs in an efficient manner. This is the sole reason why more and more businesses are now shifting towards QuickBooks Online to manage their accounting and bookkeeping needs effectively.

QuickBooks is an accounting software that is easy to setup and has a simple user interface. It keeps all of your data in one place and ensures smooth processing. You can create customized reports and export them onto other applications using the useful features of this bookkeeping software.

Though there are several training courses available online, most do not teach you how to create inventory assemblies – which is an important part of the QuickBooks online application that will help you ensure efficient management of your data. Though the concept is quite simple and the application helps you out in the process, it can still prove to be a complex task at times.

A Guide to Building Assemblies in QuickBooks Online

We have compiled a handy guide that will teach you how to build assemblies in QuickBooks Online. Before you start, make sure that you have formed detailed records of items that will be added to the assemblies. If there are any new items, you can add those later. However, it is best to add all items beforehand in order to ensure smooth processing.

We have listed all of the steps that will help you create a simple assembly. Several issues can arise when creating and selling builds. Therefore, if you plan on doing these frequently, you should consider taking a QuickBooks class to understand it more completely.

1. Click on the ‘Vendors’ menu and open the ‘Inventory Activities > Build Assemblies’. A dialogue box will pop up in front of you.

2. Click on the arrow next to the category labeled ‘Assembly Item’ and click on the option ‘<Add New>’. A ‘New Item’ box will appear displaying ‘Inventory Assembly’ as highlighted. Select ‘New Item’ and enter the ‘Item Name or Number’ in the field.

3. You will not yet be entering anything in the field of ‘Cost’, however, you can enter a description in the ‘Description’ category. Also, you need to make sure that you have chosen the right Cost of Goods account under the ‘COGS Account’ category.

4. Go down to the box below ‘Bill of Materials – BOM’. Click on the space underneath ‘Item’ and access the list of items present in your inventory by clicking the down arrow. Choose the first option in the assembly and fill up the ‘QTY – Quantity’ field. Go down to the next option and continue doing this process until you’ve entered all of the required information.

5. QuickBooks Online continues tallying the costs of the items present in your assembly, which is not the sales price and puts the total beneath the ‘Bills of Materials (BOM)’ box.

6. The ‘Asset Account’ must display the accurate information. You need to enter the number of new builds that need to be ordered in the ‘Build Point’ field. If you know the amount of builds you have in your hand, type that number in on the ‘On hand’ box. QuickBooks then calculates the total value of your current builds and presents the figure in the ‘Total Value’ box.

7. Once you are done with the above steps, you can scroll back up and issue a ‘Sales price’, which will be based on the cost along with the markup. When you are done, click on ‘Ok’. The screen that comes up after that will ask you the number of assemblies you want to build. Type in the number of assemblies you want to build and save the record.


Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.



 

 

Rear view of African woman using computer while sitting in cafe
The default QuickBooks online forms do not have a professional feel and also do not have enough space to fit all of the information related to customers or your business. It’s imperative to customize sales receipts as they reflect the identity of your business.  Since sales receipts are sent to your customers, you want them to be specialized and contain detailed info, which your customers expect. When you send an invoice for a sale or an estimate for work that you plan to do for them in the future, it must entail all key information related to that specific customer as well as critical details of your business proceeding that are important for them to know.

QuickBooks online allows you to customize invoices, sales receipts, and estimates according to your preferences, with little effort. Invoices can be customized by clicking on the Sales Tab which will entail a Gear Icon that will eventually take you to Account and Settings.  The sales tab allows you to work on the following aspects of your business.

  • Sales form content
  • Messages
  • Online deliveries
  • Statements
  • Products and services
  • Customize look and feel

We are going to focus on the last step which refers to customizing your look and feel in QuickBooks Online.

The Customization Phase

Within the Account and Settings tab, you have to go to the Sales Tab which further allows you to select Customize Look and Feel. Once you have reached this point, you will have the option to select among Custom Form Styles or opt for a New Style by clicking the icon with the same name. This will bring you to the Customize Form Style page where the actual process of customization will take place. There are a total of 5 areas where QuickBooks Online can help you in creating a sales invoice that reflects the true essence of your business.

  • Appearance
  • Style
  • Activity table
  • Header
  • Footer

Style

This is typically the first step in the customization phase and you are offered five templates to choose from, which are mentioned below.

  • Airy
  • Modern
  • Fresh
  • Friendly
  • Bold

Each of the above-mentioned templates has a different formatting style and, based on your preference, you may choose one. This will be the basic layout of your invoice, so choose an appropriate style for a specific invoice.

Appearance

The appearance section in QuickBooks Online will allow you to customize the following items on your invoices, sales receipts, and estimates.

  • The way your logo appears and setting an appropriate size for it.
  • Once the size is selected, you need to place it in the right spot. Just drag and drop where you want the logo to appear.
  • Selecting a suitable font for your invoice is also done in the appearance section.
  • Setting line spacing according to the length of the invoice is vital, especially in estimates as they happen to be longer than the rest.
  • For non-custom letterheads, you have an option to include page margins.

Activity Table

The Activity Table in QuickBooks online is a very handy tool for very specific situations. All invoices have columns on them and this allows you to customize the appropriate columns on your sales receipts and invoices. There is an option for you to select the quantity in hours if you charge on the bill by hours. You can also change it to weekly or monthly, depending on your choice.

Header

The Header section allows you to make the following changes to your invoices and other documents.

  • The name of the document would appear in the header and any preferred name is selected.
  • Information about your company such as email, phone number, website and other critical details have to be included in the header section.
  • If there are any terms and conditions of the payment, they must also be included in the header so that it is among the first things your customer reads.

Footer

The Footer section can either be ignored or used in a way to send a positive message to your customer. QuickBooks Online allows you to customize your footer with an appreciation message for your customer such as ‘we are proud to do business with you’ or any other such comments.

Print and Preview

Once all steps are completed, you can go to Print and Preview at the bottom and see all of the changes that have been made. If you are satisfied, save it and you are ready to send your invoice to the customer.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

 

 

 

 

 

 

Architect engineer using laptop for working with yellow helmet, laptop and coffee cup on table.
QuickBooks is an accounting program package that is designed to manage the needs of every kind of small to medium-sized business such as managing payrolls, bills, inventory, sales etc. It offers software solutions for both on-premises and cloud based accounting applications. The package develops solutions according to the need for the industry and includes tools for marketing, services, product and supplies for merchants as well as training solutions.

A contractor version of the software is available. It is built to meet the need of every kind of contractor, therefore, the do-it-yourself accounting is not as easy and many users fall prey to a lot of mistakes.

1.  Incorrect Payroll

Managing payroll is a difficult task and any business can benefit from outsourcing this time-consuming process to a payroll firm. As the local, federal and state laws are changing regularly, managing a payroll can become a complicated task and businesses can be negatively affected by errors that result in tax penalties.

2.  Not Reconciling Accounts

It is necessary to reconcile all of your accounts.  You not only need to reconcile your savings and checking accounts, but also taxes, loans, and mortgage escrow accounts. Otherwise, you will not know if the money in the business account register is correct. 

 3.  Using Too Many Accounts & Sub Accounts 

While one advantage that QuickBooks offers is the ability to create further sub-accounts of accounts, this can also complicate the system and be very time-consuming. It is advisable that this be avoided, if possible, especially in the case of small companies where one parent account is adequate. 

4.  Not Backing Up The Company Data

In order to prepare for the unpredictable, it is necessary to back up the Business QuickBooks files every day. This will prove to be immensely helpful in case of a computer crash.

 5.  Not Reviewing

The balance sheet and P&L statements have valuable insights regarding the health of the business. Reviewing these statements can help catch mistakes before they cause any financial repercussions. Thus, they should be reviewed on a regular basis.

6. Not Setting Sales Tax Preferences

You can set up your sales tax preferences if your business makes sales that are subject to sales tax. To do this, go to Edit → Preferences → Sales Tax icon → Company Preferences → Owe Sales Tax and then choose from As of Invoice Date or Upon Receipt of payment.

  7.  Booking Loans Improperly 

It is necessary to keep a record of any loans taken by the business. This means that each payment’s principal and interest breakdown is monitored and reconciled with the monthly loan balance.

8.  Not Creating User Permissions and Passwords

If your QuickBooks file is being accessed by multiple users, it necessary to give each of them separate roles, permissions and logins.  This ensures that everything happening in your books is controlled smoothly.

  9.  Deleting Transactions

In QuickBooks, a lot of transactions are interconnected and deleting one transaction can affect other transactions linked to the deleted transaction. An alternative choice is to void a transaction rather than deleting. But, that too can cause problems in the case that the deleted transaction is for a closed period. Refer to your accountant and get the transaction reversed through the current period.

10.  Paying Payroll Taxes using the Write Checks Window

QuickBooks keeps track and records the amount of payroll tax a business owes as the payroll is managed in the Payroll Liabilities account. Accidentally paying the payroll taxes through the Write Checks window will result in the paid amount not getting properly deducted from the Payroll Liabilities. Therefore, in order to ensure that the payroll liability balance is properly deducted, it is necessary to pay the payroll taxes from the Payroll Liabilities window.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.



What is QuickBooks?

QuickBooks is an accounting software package that is developed by Intuit. This software is an assisting program that helps you carry out various accounting solutions with ease and organization. The software targets small to medium sized businesses to help with their accounting services and is now also available with cloud-based versions complete with payroll, pay, and manage bills functions.

How is QuickBooks Beneficial for your Business?

If you are a small business or a start-up, QuickBooks is the ultimate accounting tool for you. Some of its unique features and benefits it could bring to your company are as follows.

Money Management

QuickBooks has features that help small and medium sized businesses manage their finances and money. This software allows you to keep track of transactions, pay timely bills, and keep each transaction recorded for audit purposes.

Expense Billing

The accounting software allows you to record and tally each of your expenses, no matter how big or small, allowing you to keep better track of your money.

Sales Invoices

QuickBooks allows you to create and print invoices at the touch of a button. Hence, helping you to keep proper track of your inventories and providing you ease in your business operations.

Why You Can’t Buy A Used Copy Of QuickBooks

Intuit and all partners that are licensed for the sale of the QuickBooks are strictly against buying and using old copies of this software. This is because customers who buy used copies of the program and try using it always face problems and issues leading them to not get the best results from the software. This dissatisfaction causes customers to cease use of the software and a lot of money and resources are put to waste. It is strongly recommended that all customers buy new copies for a better experience and smoother performance.

The most common problems faced by those who buy a used copy of QuickBooks are listed below.

Installation

QuickBooks could be installed using a CD or by buying an online version and downloading it to your system. However, as the installation process progresses, the software asks you to provide a particular license and product number.

If your copy is original and new, the license and product code are provided and this allows you to continue with the installation. However, if your copy is used or comes from an unauthorized dealer, you will not have the correct license and product number. As a result, you will not be able to install the program and, in turn, have lost your money and time to do something that was not productive for your start-up or small business.

If a problem is faced when downloading an original program, the customer help desk is always available to sort out your issues.

Registration

If, by any chance, you have the original license and product code for a used copy of QuickBooks, there is a huge chance that you will have issues registering the software.

In the original software, Intuit verifies if you have a genuine version by asking you to enter your Intuit account details. Further more, you are requested to put in contact numbers and mailing IDs. If a used copy is installed, Intuit will detect the version of the software that you are trying to use and recognizes it as registered under a different name already. In that case, it will deny you access to your program or access only limited features of the software.

Usage

Even if you somehow manage to get through the process of registration and installation, the limited features that Intuit would allow you access will not provide you with the results that a new software would. Hence, wasting valuable resources such as time, money, and a disgruntled customer experience.

It is suggested that buying a used copy of the software is a bad idea and it is better to get a new version of QuickBooks for your small business or start-up.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.