Canadian version – Page 4

How do the “Balance Due” field works in the QuickBooks accounting software?

Software: Intuit #QuickBooks #accounting software The “Balance Due” in the Sales Invoice is referring to an outstanding amount of a sales invoice after knocking off the payment received. It is useful for project-based business to show the balance due of a sales invoice when an advance payment has collected. You can use the Make Deposit […]

How to convert an inventory part to a demo equipment in the QuickBooks accounting software?

Software: Intuit QuickBooks #accounting software Some retailer or wholesaler may convert the existing inventory into a demo equipment for the showroom or as a loan set for testing. Your accountant may classify a demo equipment as a fixed asset aka non-current asset if the expenditure qualifies (Please check with your accountant if you have doubt […]

QuickBooks Bank Reconciliation — Cheque issued but not yet presented

Software: QuickBooks #accounting software Bank reconciliation is a process of comparing the Cash Book against the Bank Statement. The objective of the bank reconciliation is to confirm the withdrawals and deposits presented in the Bank Statement have recorded in the ledger correctly. Although you can record the opening balance of the bank account in QuickBooks […]

Where to locate the “Use Undeposited Fund as a default deposited to account” checkbox in QuickBooks?

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 […]

The “Multiple” item in the QuickBooks Tax Agency Detail Report

Software: Intuit #QuickBooks #accounting software There are differences between the Reckon Accounts (formerly known as Reckon QuickBooks) and the Intuit QuickBooks’ (Desktop version) Tax Detail Report (GST Detail Report). As mentioned in my earlier post, Tax Agency Detail Report breaks into 4 sections; Sales, Purchase, Tax on Sales, and Tax on Purchases. Under the Sales […]

Create an invoice in QuickBooks for selected items from multiple Sales Orders

Software: Intuit #QuickBooks accounting software In our previous post, Multiple Sales Orders to one invoice, we mentioned that we can create an invoice for selected items from multiple sales orders. This can be done by process the orders using the “Create invoice for selected items” option instead of the “Create invoice for all of the Sales […]