Ask the Accountant… Question: A customer is placing a reorder. Is there an easy way to do that in QB Premier? Answer: Yes. Open the original sales order and click “Create a Copy” at the top of the screen. Make any adjustments to prices in the new sales order, then create the supplier purchase order…
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Ask the Accountant… Question: The price for QB Premier has gone up a lot recently. I found a much lower price online. Is it the same thing? Should I wait and see if the prices come down? Answer: Intuit has significantly increased the prices for QB Premier 2021. The wholesale pricing has nearly doubled, and…
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Ask the Accountant… Question: I have an older desktop version of QuickBooks Premier (too embarrassed to mention the version/year). So far, it seems to work fine. What are the disadvantages of staying on an older desktop QB version? I have a sense there’s something I don’t know but should. Answer: By using an old version…
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Ask the Accountant… Question: I produce my month-end statements and then do my reconciliations whenever the statements are ready. Is that the right order? Answer: Reconciliations are an important step in keeping your data up to date. Reconciliations are a safeguard that your numbers are correct, or at least entered in your system. A reconciliation…
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Ask the Accountant… Question: QuickBooks can send payment reminders to clients. What do you know about it? Answer: That is a new feature in QuickBooks that might be helpful, but . . . I have reservations about it for our industry, because the automated nature of the payment reminders takes away the personal nature of…
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Ask the Accountant… Question: If I convert to QuickBooks, do I have to use QuickBooks Payroll? Answer: There is no requirement to use QuickBooks Payroll. Our businesses generally involve very few, if any, employees. And payroll is rarely a needed function. My clients who do have a payroll typically use outside payroll services, or have…
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Ask the Accountant… Question: I am downloading QuickBooks Premier. There is a question about which edition I want. Which one do I pick? Answer: When you purchase QuickBooks Premier, there will be options of editions when you download the program. The edition that is best suited for our industry is Manufacturing and Wholesale. By selecting…
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Ask the Accountant… Question: Recently, I had a question about what a balance sheet shows, so I thought I’d tackle income statements as well. Answer: The income statement is also known as a profit and loss statement, or a P&L. It shows what you have earned and what you have spent to produce a profit…
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Ask the Accountant… Question: Do I have to order specific checks to print in QB Premier? Answer: Yes, QB Premier has a particular format when printing checks. You don’t have to order directly from Intuit. However, if you are ordering from another source, make sure they know which QB program you are using and the…
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Ask the Accountant… Question: I am having small negative amounts left over in my accounts payable aging report after I record paying suppliers. What am I doing wrong? Answer: Negative amounts in your accounts payable are usually the result of the QuickBooks supplier purchase order not matching exactly the invoice from the supplier before creating…
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