Software: Intuit QuickBooks accounting software When you reconcile the bank account, you have to ensure that the “Difference” is 0.00 before you click the “Reconcile Now” button. The problem could be due to omitted transaction or typo error such as you recorded $121.20 instead of $112.20. Find out your mistake instead of force reconciling the […]

Software: Intuit QuickBooks 2014 To create a new company file go to the File menu and select New Company. In the QuickBooks Setup wizard, you have an option of selecting “Express Start” or “Detailed Start”; I usually prefer to use the “Detailed Start” as it allows me to select the file location. For Singapore user, […]

Software: Intuit QuickBooks 2014 For non-multiple currencies company file, QuickBooks will follow the currency symbol set in the Regional Option of the computer; and the currency symbol will be placed before the Subtotal, Tax Total and the Total fields of the template when it is printed. When multiple currencies feature has turned on, the currency […]

 Software: Intuit QuickBooks 2014 Assuming your base currency is in Singapore dollar (SGD), when you create a sales invoice for your foreign currency customer (USD) for the amount of USD 1,000.00 with 7% rated GST (this customer is based in Singapore) at the exchange rate of 1.3000; the double entry for this transaction in Singapore […]

Software: Intuit QuickBooks When creating a general journal, you can only associate a tax (GST) amount to the tax account (GST Payable account), the taxable amount will not be able to associate with the tax account. If you were to make a general journal of: Debit Expense 1000.00 Debit GST Payable account 70.00 Credit Bank 1070.00 The […]

Software: Intuit QuickBooks 2014 In the past, to record a bounced cheque in QuickBooks, we need to do a few steps manually such as creating journal to debit the accounts receivable account and credit the bank account; and if there is any bank service charge, we need to record it via a payment or journal […]