Question: I don’t like reconciling my checking account. Is there really a reason to do that? Answer: Monthly reconciliations are a critical part of your accounting. I could argue that it is one of the most important steps to making sure your records are complete and correct. Every month, you should reconcile each of your…
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Question: My accountant is suggesting things that I know are not legal. What should I do? Answer: I would find a new accountant right away. You do not want to be tainted by the accountant’s lack of ethics and end up owing additional taxes, penalties or worse. There is a difference, however, between income tax…
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Question: How do I record an apparel order with more than one supplier? Answer: We do have complicated orders in our business—none more so than apparel orders. In all orders, I recommend that you use your internal purchase order number to number all parts of the order in your system: customer sales order, supplier purchase…
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Question: I have recently purchased a new computer with Microsoft 365 which includes Windows 10. Why won’t my QuickBooks work now? Answer: Microsoft 365 is a new licensing version of the Microsoft Office with which we are all familiar. There are two ways to purchase it: Web-based, which is accessed online Installed locally on your…
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Question: When is the best time to buy QuickBooks Premier 2018? Answer: Premier 2018 was released in September 2017. So far, the reports are good. It works well, and bugs have been few. However, conventional QuickBooks wisdom is to wait until January to avoid as many of the inevitable early glitches, updates and fixes as…
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Question: I have a Mac that I use for my business, but I’d like to use QuickBooks. What are my options? Answer: There is a Mac desktop version of QuickBooks, which is very different from the Windows QuickBooks and is inadequate for our business. Furthermore, it is being discontinued, and a 2017 version is not…
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Question: Where should I look for QuickBooks software? Answer: My advice is to buy only from a proven source. The safest source is to buy directly from Intuit. But, there are many resellers that provide some attractive offers. I’ve heard a full range of reports from good to bad. Be careful in your selection of…
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Question: My QuickBooks isn’t working the way it should. Is there anything I can do to fix the problems? Answer: If you are experiencing basic operating problems in QuickBooks, there is a “Verify and Rebuild” function. To run this, back up your QuickBooks first, and go to “File” to “Utilities.” Run “Verify Data,” which will…
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Question: Can I print checks in QuickBooks? If so, do you have any tips for buying the checks? Answer: Yes, you can print checks in QuickBooks. When doing so, the transaction is recorded directly into your general ledger (into the account you designate). Also, when writing a check to pay a supplier purchase order, the…
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Question: When printing a check, the wrong bank account shows up. Can I set a default checking account? Answer: Yes, you can select a default checking account for various functions. Go to: Edit > Preferences > Checking (on the left side) > My Preference tab at the top. Here you can select a bank account…
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