Software: #QuickBooks #accounting software It’s same, but different. Although, Intuit QuickBooks and Reckon QuickBooks (has renamed to Reckon Accounts) have a similar user-friendly navigator, the features and reports could be different. Those users who have switched from Reckon QuickBooks to Intuit QuickBooks may realize that the checkbox for “Use Undeposited Fund as a default deposited […]

Software: Intuit QuickBooks accounting software QuickBooks allows you to consolidate multiple Sales Orders into one Invoice. Sales Order is used to track the orders from customers, backorders, and some users may also have used the Sales Order to track the consignment goods to customers. When the customer name is being picked up in the invoice, […]

Software: QuickBooks accounting software Assume your GST cycle is quarterly, ends in March, June, September, and December. You have issued an advance payment of $10,000 before the 7% GST to a supplier in the month of October 2015 via a Write Cheque transaction. If the advance payment received forms part payment of the supply, GST […]

Software: Intuit QuickBooks desktop accounting software When a foreign currency bill is recorded, QuickBooks will automatically convert the foreign currency value of the inventory item based on the exchange rate set in the bill to a base currency value and update the inventory account accordingly. Assuming your base currency is Singapore dollar, you recorded a […]

Software: Intuit QuickBooks Desktop accounting software GST (Goods and Services Tax) is a liability not an income account, hence when you print the Sales by Customer Summary report it prints only the sales amount (excludes GST), which is correct. You may consider using the Sales by Customer Detail report instead of the Sales by Customer […]

Software: Intuit QuickBooks accounting software General Journal is often being used during month-end or year-end closing. You may use a general journal to reclassify accounts, prepare accrual or record a depreciation of the fixed assets. However, sometimes when recording a journal with an accounts payable, you get a warning message of “Transactions to accounts payable […]