Four Quickbooks Tips and Tricks for 2017

When you hear the word “Quickbooks” does it send a shiver down your spine? Do you reflexively spill your mocha on your laptop keyboard? Kick the sides of your accounting files cabinet in disgust?

Well, we can understand your frustration with Quickbooks, we have all felt it at some time or other. However, this is not your grandfather’s accounting program anymore.

In fact, Quickbooks continues to improve its user experience and make it a positive experience for accounting veterans and small business owners (who do it all), alike. Quickbooks is actually easier now, we think.

And, since 2017 is just around the corner and Tax Season (our favorite time of year) begins January 1, utilizing Quickbooks’ many features is essential for us and both our small business and personal business clients. Now is the time to master this stuff.

So, here are Four Helpful Quickbooks Tips for 2017 that will prove extremely helpful:

1. Schedule with it: The scheduling feature plans employees’ work schedules and can keep track of meetings, dates and now can schedule the mortgage payment. Deadlines can be automated and bills paid through it, too. It is amazing how much can be loaded into this feature so you have more free time to meet with present clients and solicit new clients.
2. Utilize the “Undeposited Funds” account: This Quickbooks feature scared a lot of users because we just didn’t understand it, frankly. It’s quite simple though as this is used to track moneys deposited until the deposit is entered in Quickbooks. This is actually not that intimidating anymore and very helpful. Your monthly reconciliation is simpler now as the amount entered in Quickbooks will match (or should, anyway) the deposit amount on the bank statement. Forget doing it manually from here on out. This is truly not worth having nightmares anymore. It works like a charm.
3. Changing Transactions: Once the absolute bane of accountants everywhere because it was too easy for company personnel to make (unwarranted or incorrect) changes, this feature is much improved now. You can change the settings and password protect the “Date Warnings” so you can restrict changes to a select few. This is a vast improvement and will reduce some major stress as you manage accounts.
4. Merge all finances into one program: You should track all your bank statements and transactions and then reconcile Quickbooks with your other statements. Your accounting numbers will be up-to-date, then. You can do your income, credit lines, billing and bank statements here. All your data runs through one central location.

There are many more aspects of Quickbooks (and their many programs) that we can explore in future blogs. The New Year is coming and certainly there will be updates and improvements. We will definitely keep you informed.

In the meantime, utilize Quickbooks! It’s not as intimidating or aggravating as it once was. So, drink your mocha and repair the dents in your filing cabinet. Life for us Quickbooks users is better now and, dare we say, simpler.

If your business needs accounting & tax services of any nature, our team at A. K. Burton, PC, can meet all your private and business accounting & tax service needs. Call us at (301) 365-1974 for more information.