QuickBooks Tips

If you’re well informed, our working relationship will be a success. It’s that simple. That’s why 2nd Site is an open book and works hard to continually educate you on the power of QuickBooks as a business tool. Here are some QuickBooks tips and resource links. Just click on one of the items below for tips and resources. If you have a question any of the tips below, feel free to call or email us at 503-246-7776 or 2nd-site@2nd-site.com.

QuickBooks Pro Tips

  • Customize your forms to create a more professional company image. Using default forms templates make you look like an amateur which hurts your business.
  • The numeric keypad functions as a calculator in any numeric field. So let go of the mouse, keep your hands on the keyboard for faster data entry, use the keypad for calculations, and remember that the TAB key is your best friend.
  • Use the Open Invoices Report, Unpaid Bills report, and Detailed Profit & Loss Report at least monthly to review your work and to catch data entry errors.
  • Reconcile all balance sheet accounts on a regular basis to guarantee accuracy.
  • Never change the default Admin user name. Create a new user name for each person and only log in as Admin to perform administrative functions. That way your Audit Trail report makes more sense.

QuickBooks Premier Tips

  • First read the QuickBooks Pro tips – they also apply to Premier!
  • Close individual Estimates, Sales Orders and Purchase Orders when you’re finished with them by unchecking the “Active” box on Estimates and by checking the “Closed” box on S.O. and P.O. screens.
  • Update inventory item values when you make your annual physical inventory adjustments to keep your average cost in line with current market values. And NEVER let your inventory counts go negative!
  • Use the class feature to segment your business into locations, market sectors, or departments to identify and analyze your most profitable areas.
  • Whatever your industry, you’ll get the most value for your money if you purchase the Premier Accountant’s Edition. It costs a bit more but it has the ability to toggle between ALL editions of Premier so you can access the unique reports and features of every editions instead of being limited to just one. Plus the special features in the Accountant’s Edition are worth their weight in gold, such as the Client Data Review which lets you clean up many transactions all at the same time.

QuickBooks Enterprise Tips

  • Read the tips for Pro and Premier above – they all apply to Enterprise as well.
  • Make good use of the advanced security/user roles. You can control 115 task level entitlements in 11 functional areas.
  • It’s both practical and financially logical to maintain your Full Service Plan (FSP). You’ll pay about the same amount to renew annually as to buy Enterprise new every three years. The FSP spreads the cost out over the three years for better budgeting, you get unlimited tech support, and you’ll get every annual upgrade so you’ll always have the newest features.
  • The optional Add-On modules for Enterprise, Advanced Inventory and Advanced Pricing, cost extra but may be exactly what you’ve been waiting for.
  • 3rd party software add-on’s fill in the gap between the complete solution you need, and the accounting program Enterprise is designed to be. It’s not meant to be everything to everyone, so check out the Intuit Marketplace to start your search for expanding your integrated QuickBooks solution.

QuickBooks Point of Sale Tips

  • Customize the workstation dashboard for each user based on their specific job tasks and responsibilities.
  • Use the built-in Customer Rewards feature to encourage customers to purchase more, and more often. (Pro version)
  • Attach pictures to each item to ensure salespeople select the correct Item (Pro version)
  • Create a user name called POS in your QuickBooks financial data and set the preferences for POS data to import using that name to create reports filtered by the POS user name.
  • Verify that the Inventory Summary Valuation report matches the inventory asset account in your QuickBooks Financial data (after you’ve completed all received inventory billings.) And NEVER let your inventory counts go negative! That’s a common reason your books get out of balance.

For a answers to frequently asked questions , click here.