QuickBooks Tips | Transferring Data to Your Accountant

Posted by Lauri A. Lisanti, CPA, MAcc, CPS, Certified QB ProAdvisor on Feb 27, 2018 2:17:18 PM

What is the best way to send my accounting data to my accountant so that they can prepare my tax return?

The answer is not the same for every client. Clients often send a copy of their financial statements without realizing that it's insufficient. From the accountant’s perspective, it is much more efficient to have a copy of clients' QuickBooks file so that the information needed is right at their fingertips.

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Topics: Quickbooks Tips, QuickBooks Expert, Advice from a Certified QuickBooks Proadvisor

QuickBooks Tips | Memorizing Transactions

Posted by Lauri A. Lisanti, CPA, MAcc, CPS, Certified QB ProAdvisor on Aug 28, 2017 4:55:45 PM

Businesses can make any number of transactions in a given year. A transaction being any business agreement or exchange that one makes with another person or business.  To minimize mistakes and increase efficiency business should utilize QuickBooks to memorize transactions.

QuickBooks Memorized transactions:

Instructions on memorizing QuickBooks transactions.

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Topics: Advice from a Certified QuickBooks Proadvisor, Quickbooks Tips, Bookkeeping

QuickBooks Tips | Using Class Tracking

Posted by Lauri A. Lisanti, CPA, MAcc, CPS, Certified QB ProAdvisor on Jul 31, 2017 1:15:00 PM

What is QuickBooks Class tracking?

Class tracking is a feature in QuickBooks that enables you to keep track of your transaction data by creating classes to categorize them.  

What is a class?

Classes are assigned to transactions that relate to one another by category.  For instance, many clients have a need to track income and expenses by categories such as, department, business segment, location, etc.

This feature is the best way for a business to separate any significant segments of the business without having to add additional income and expense accounts to the general ledger.

Examples:

  • For profit companies may want to track multiple locations or divisions of the company.
  • Not-for-profit companies may need to track grants and restricted and unrestricted funds.
  • Any company doing business with a governmental entity can use classes to track fixed priced jobs versus cost plus jobs versus overhead.
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Topics: QuickBooks Expert, Quickbooks Tips, Advice from a Certified QuickBooks Proadvisor

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