Tag Archives: Desktop accounting software

QuickBooks One time messages

Software: QuickBooks desktop accounting software

A ‘Memorize Report’ message is a one-time message, it pop-up whenever you try to close a modified report without memorising it.

QuickBooks message

By checking the ‘Do not display this message in the future’ checkbox will turn off the one-time messages. The One-time message feature is a personal setting, which any changes made will not affect other users. Check the ‘Bring back all one-time message’ checkbox from the General preferences (under My Preferences tab) if you like to bring back the messages.

QuickBooks Preferences.jpg


How to record a dividend?

When the company is profitable, part of the earnings may return to the investor as a dividend. A Dividend is not an expense but a shareholder fund (equity), which the declared value will be less off from the Retained Earnings.

The accountant may debit the Retained Earnings and credit the Dividend Payable account, which is a Current Liabilities account type when a dividend has declared.

Instead of directly debiting the Retained Earnings account, the accountant may sometimes debit the Dividend account (Shareholder Fund/Equity account), which is a temporary account, and transfer out from Dividend to the Retained Earnings account later.

Below is a screenshot of the equity section of a Balance Sheet report:


Check with your accountant for more information about the dividend.

QuickBooks Purchase Order

Software: QuickBooks Desktop Accounting System

You should use Receive Inventory method (either with or without Bill) to record the supplier invoice if there is a Purchase Order created earlier. In this case, the Purchase Order (PO) will be marked as ‘Closed’ (completed) when goods have received.

Purchase Order is a document sent from the buyer to the seller (the supplier) to indicate the quantity and price of a product or services which they intend to purchase.

Although a Purchase Order is a non-posting transaction which will not record into the ledger, you should do some housekeeping to tidy up the open order list.

If you have accidentally recorded a Bill without converting from a Purchase Order, which you have created earlier, the Purchase Order stays in the ‘Open’ list until you have manually ‘close’ it.

You can manually check (tick) the ‘CLSD’ field behind the line item to indicate that the item has already ‘closed’ (The quantity received may remain as zero). Once all the line items in the PO have indicated as close, the Purchase Order will automatically mark as ‘Closed’ and removed from the open Purchase Order list.



This method can also be used to ‘close’ an item or purchase order if the item which you ordered has already obsoleted or not fulfiled.

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