QuickBooks Tips


Quickbooks Tips

  • Have a customer that is also a vendor?  Set up 2 names – one for each and put a “V” for vendor or a “C” for customer at the end of the name so they are easily distinguishable.
  • Invoice payment tip-when booking the payment, put the invoice number(s) the payment is for in the memo field. It will then show up on reports.
  • Have a complicated transaction that you do often or a transaction that occurs regularly that you would like to be reminded of or have book automatically? – Memorize it!  Just before you hit the “save” button, press CTRL-M and the memorize function will come up.  Then click on “lists” and “memorized transactions” to bring up a list of all you have memorized.
  • Want to track the revenue and the costs related to a customer and/or a job? No problem – call for assistance if needed.
  • Purchase order tip – Put something in the memo field to give you a hint as to what is on the PO as some reports will not tell you anything but the PO # and date if you leave this blank.
  • GST on meals and entertainment – you can only claim an input tax credit for ½ the GST. Setup a new tax code that calculates 50% of the GST so you don’t have to do it manually!  Call for assistance if needed.

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