Tips and Tricks

Negative balances are usually cause for concern, especially when it comes to your business. However, before you panic, you will be happy to know that a negative balance doesn’t always mean that you’re in the red.

There can be several reasons why an account would show a negative balance on a Profit & Loss or Balance Sheet report. In most cases, negative balances should be investigated. Sometimes the negative figure is correct, and in other cases, the negative is due to setup problems within QuickBooks. Read more

It’s not unusual for a QuickBooks file to have accounts with similar names used to record the same transactions. For example, Bank Fees and Bank Service Charges accounts may have been set up by two different users of the QuickBooks file. Fortunately there are several ways to deal with this.
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Do you want to find out the following:
What version and release of QuickBooks you are using?
What your QuickBooks license and product numbers are?
How many user licenses you have?
Where your company file is stored?
How large your company file is? Read more

Often times users need to find a transaction but don’t have a lot of information to go on. For example, there could be a transaction on a bank statement with an incomplete notation. The QuickBooks find function allows the user to search for transactions that meet the find criteria. To bring up the find screen, from the main menu, select Edit, then Find. Read more

Once you’ve “closed” an accounting period it’s important that no more transactions are dated in the closed period. This could be because tax returns have been filed or financial statements have been sent to your bank. Read more