Using Credit Card feature in QuickBooks

The best way to use credit cards in QuickBooks is to go to banking>enter credit card charges.  You can also access this link on your home page.

Once you have entered all of your credit card charges/refunds and your statement arrives, now it is time to reconcile the credit card acct. (click on photo to enlarge):

 Enter your balance due from your statement.  Enter any finance charges.  Click continue:

 Once you have clicked off all the transactions on the statement, you will see a difference of zero.   Next click reconcile now:

Now you will have the option to pay the statement in full (write a check) or enter a bill to make payments later.  For demonstration purposes, I clicked to pay the bill in full.  Now QuickBooks will create a payment to the credit card account:

It is that easy to use credit cards in QuickBooks.  If you do not want to pay in full, you can use the create a check selection and change/modify the amount.  The next time you reconcile, it will show the unpaid balance.


Lynda


Check out my website www.artesanibookkeeping.com

QuickBooks 2011 is here!!!!

Normally, I do not get exited about the new edition of QuickBooks.  This year is different.  There are changes that we all have been asking for and you will love this new program.  I have been using it for awhile and I have to tell you about a couple of things that I just love (more posts to come).

I love how quickly the program starts up.  There has been changes to how the program works when you click on the shortcut to start it.  My experience is that the program starts at least a full minute quicker.  This will depend on your PC, but any minute saved is a minute more that you can get your work done.  

Email is much better.  New this year, you can import business contacts directly from your Gmail, Yahoo or Hotmail webmail accounts.

There is also a search option that works like the old Google search from the 2007 version.  There were issues with that Google search, so it was removed from the versions after that and now a new and improved search is in this new program.

That is just a few of the new features.  If you were considering upgrading and held off, now is the time to do so.  Get QuickBooks 2011, you will be glad you did!

Lynda

Check out my website www.artesanibookkeeping.com

Using Memorized transactions

Well, it is finally Friday. Yeah! We have had the best summer and it is hard to believe it is Fall already.  Okay, now for my tip of the day:

Using memorized transactions:

I use these on many of my client's accounts because they save me time and save me from making errors. If you have a payment that is directly debited from your checkbook, you can memorize it so that it is entered automatically into your records.   Go to write checks off of your home page and enter the check and click on edit>memorize:

This is a great time saver if you are a bookkeeper who has multiple clients. Additionally, you can save time by setting up memorized transactions that you have to modify each time, like a rental property company with several locations and is using the class feature. If you have more than one utility bill from more than one location, you can memorize them so that they are all set up with the proper account and class imputed. Then you select the link for that property from your memorized list and your information will be recorded correctly and quickly.

Enjoy your weekend!

Lynda