GST Rate Change

Although you are not getting an auto-update on the new 8% GST rate, no worries; changing the GST rate in QuickBooks Desktop is not too complicated.

Small businesses are usually more concerned about cash flow and day-to-day operation, but having a budget is extremely important when moving towards a new normal. With limited resources, it is more crucial to monitor the performance in an uncertain market.

A deposit received is a payment for goods and services which yet to deliver. It’s liabilities. The balances are cumulative presents in the Balance Sheet. It has to offset against the invoice when goods and services have fulfilled at a later stage.

Software: QuickBooks Desktop Accounting Software You can record bill or issue invoice in foreign currency once you have set up to use the multiple currencies feature in QuickBooks. A currency has to tag to each name set up in QuickBooks. For example, you tag USD to Customer A if you trade with him in USD […]

Use the “Create Credit Memo/Refund” feature in QuickBooks accounting software to record the return of goods/services from a customer…

Define Fields in QuickBooks Desktop accounting software

QuickBooks allows the user to define up to 7 Custom Fields in Name and 5 in the item.