Software: Intuit #QuickBooks #accounting software Data verification is a process in QuickBooks to check for data integrity of a company file. Under the backup option, you can have a complete, quicker or no verification done during backup. By default, it is recommended to have a Complete Verification. QuickBooks will run a thorough check of the […]

Software: Intuit #QuickBooks #accounting software Overpayment — The amount paid is greater than the amount due. An accounting software helps the business owner track the receivable and payable efficiently and minimises accounting error such as overpayment. When an overpayment occurred, you can either give a refund or keep it as a negative receivable and offset […]

Software: Intuit #QuickBooks desktop #accounting software You have to File Tax Return after the GST cycle. File Tax Return is a QuickBooks internal process, which contra the GST Input and GST Output account and transfer the balances to the Receivable or Payable account. It is not a process of filing tax with the Comptroller of […]

Software: Intuit #QuickBooks #accounting software The general journal entry number has to be unique. You just need to set the first entry number and QuickBooks will automatically keep the running number in sequential order. For example, you enter the first entry number as J160801 and QuickBooks will automatically assign the next number as J160802, and […]

Software: Intuit #QuickBooks Desktop #accounting software You can tag a Sales Rep to a Sales Invoice or a Sales Receipt transaction. The double entry behind the Sales Invoice transaction debits sales revenue and credit accounts receivable account, or credit a bank account if you are using a Sales Receipt instead. If an inventory item sold, […]

Software: #QuickBooks #accounting software Although you have designed the invoice template with the Subtotal, Tax Total (GST) and Invoice Total fields at the form footer, the GST Summary (Sales Tax Summary) is still automatically shown after the last item. The GST Summary consists of the tax rate and tax amount. For those users who have […]