Software: QuickBooks accounting software Assuming the company is giving an interest free loan of $10,000.00 to “Staff A” and will deduct $500.00 monthly from his salary as a repayment for 20 months. Before recording this transaction into QuickBooks, first you need to setup the Staff Loan account as an Other Current Asset type of account. […]

Software: QuickBooks accounting software Assuming your financial year (fiscal year)  is from Jan to Dec and you paid an insurance premium of $1,200.00 in the month of Aug 2013 for 6 month period from Aug 2013 to Jan 2014. You can use a write cheque function in QuickBooks to record this payment transaction. In the […]

Software: Intuit QuickBooks 2013 One of the great features in Intuit QuickBooks 2013 is the sub-window at the right side of the Create Invoice transaction, which shows the customer transaction summary. Once the customer is being selected from the Customer:Job field, the customer transaction summary for this customer will be automatically generated. The Customer Transaction […]

Software: QuickBooks accounting software When exporting list reports (such as General Ledger report), by default, there will be a space between the column (blank column). You may want these “space” between the column to be removed when exporting your report into Excel so to submit it to your HQ or to use it with your […]

Software: Intuit QuickBooks accounting software After completing your physical stock count, you are required to do a stock adjustment in QuickBooks to match the stock on hand in QuickBooks with the physical stock count. From the Vendors menu, go to the Inventory Activities and follow by the Adjust Quantity/Value on Hand to start your stock adjustment. […]

Software: QuickBooks accounting software In the List report, such as General Ledger report, you may see some transactions labelled as -SPLIT- under the Split column. What does “Split” mean? Split means that there are more than one GL accounts associated with the transaction. For example, a cheque transaction for Rent expense account with GST associated […]