Software: QuickBooks accounting software Usually, I preferred creating three accounts for each type of Fixed Asset. One will be the main account and two sub-accounts underneath for cost of Fixed Asset account and accumulated depreciation account. Example: Motor Vehicle (main account) Cost – Motor Vehicle (Sub-account) Dep Acc – Motor Vehicle (Sub-account) When purchased a […]

Software: QuickBooks accounting software User get confuse on whether to use a job or a class.  There are no fix rules as in when a job or a class should be used; a simple guide line would be a “Job” involved ONE customer but many suppliers, and a “Class” involved MANY customers and many suppliers.  […]

Software: QuickBooks accounting software   For those who uses Foreign Currency in transactions may having some issue when trying to print out the Open Invoices report with both “Open Balance” (Home Currency) and “Foreign Open Balance” side by side in the report. Example: When you had a foreign invoice dated in Jun 2011 with partial […]

Software: QuickBooks accounting software Frequently, I had to explain to user, why sometime there is a GST different of ONE cent in QuickBooks invoice comparing to when they were to use Speadsheet calculating their GST amount of the invoice transaction I found a FAQ on IRAS web site that explained exactly why you having this […]

Software: QuickBooks accounting software   Fire drills. Why needs a fire drills? Just in case the fire alarm doesn’t trigger when the fire is at the doorstep. Just in case the water sprinkle doesn’t work when you need it most. Just in case the occupants do not know the escape route when the fire is […]

Software: QuickBooks accounting software “Gosh! My last backup was six months ago.” Listen! It is important that you do regular backup. Whether you are using QuickBooks accounting software or any other digital data such as photo, music, document or spreadsheet ; you need to backup (unless they are not important to you). In event that […]