Category Archives: Reckon Accounts

Rename the field labels in QuickBooks template

Software: QuickBooks Desktop accounting software

Due to limited fields available in the template design, you may rename the field label to fine tune the QuickBooks accounting software towards your requirement.

For example, if you are not using the FOB field but require a Permit Number field in your Sales Invoice, you may rename the field label of “FOB” to “Permit No.”.

rename-label

Although both the data entry and print out is using the new field label (Permit No.), the field name remains as “FOB”. In the Find function or insert the data field into the report you still use the original name (FOB).

quickbooks-report

QuickBooks – The Undeposited Fund

Software: Intuit #QuickBooks Desktop #accounting software

Unless you turn it off, if not, Undeposited Fund account will be the default deposited to account when payment received.

undeposited-fund

You may feel that this feature (undeposited fund as a default deposit to account) is redundant if you prefer to record the deposit directly to the bank account instead of holding in the undeposited fund and make a deposit later.

The undeposited fund account can be useful if you have various payment modes such as cheque, cash, credit card, etc. The undeposited fund allows you to consolidate funds received and transfer to the bank when payment has cleared or physically deposited to the bank.

As a retailer, you may accept the voucher, which issued by the mall management, as a form of payment. You can use the undeposited fund to consolidate the vouchers and transfer to the bank when payment received from the mall management.

QuickBooks maintenance

Software: Intuit #QuickBooks #accounting software

QuickBooks company file is a database, which keeps all the financial records such as customer and supplier profile, invoices, bills, payment, receipt, journals, etc. A database is like a motor vehicle, which you have to “service” it regularly to ensure it is in good condition. It could be due to amend or delete a record, or user has not properly logged out of the company file, or a problem with the hardware while the company file is still open.

The QuickBooks monthly maintenance includes the sorting of the list, rebuild and verify of the database. To sort the list such as a name list, both customer and supplier name, go to the Write Cheque transaction, rest the cursor in the “Pay to the order of” field, and press the Ctrl+L keys to bring up the name list. Then, click the Name button, which located at the bottom of the name list window, and selects the “Re-Sort list” feature; QuickBooks will return the list to a default order.

QuickBooks Re-sort list

Next, from the File menu select the Utilities and follow by a Rebuild Data to reindex the database. QuickBooks will help to repair the database automatically if there is any problem with the database. If there are database error such as duplicate element, a user has to remove the duplicate manually as QuickBooks does not know which duplicated name or account you would like to keep. QuickBooks will prompt you to contact a QuickBooks technician if it cannot repair automatically.

Lastly, run a verify data (under the File menu, Utilities) to ensure no other problem found after the rebuilding process has done.