Software: QuickBooks Desktop accounting software You can search for a customer by the account number from the Customer List but not when recording a sales invoice. Hence, the customer account number may not be as useful as the customer name in QuickBooks. QuickBooks search and display the Customer Name instead of the company name when […]

Software: QuickBooks Desktop Advance payment is a payment made to the supplier before goods received. It debits the advance to the supplier account, which is an Other Current Asset and credits the accounts payable. It gets complicated when including the landing cost in the product average cost; often, the landing cost has excluded from the […]

You have an option in QuickBooks Desktop accounting software to offset the overpayment received with the outstanding invoices via set credit feature or refund customer the overpaid amount.

The foreign currency transaction in QuickBooks desktop accounting system will pick up the exchange rate from the currency table; however, you can change the exchange rate to match the GST in Singapore dollar which shows on the foreign currency bill.

Customise the QuickBooks Agenig report if you want the ageing report show in transaction currency instead of functional currency.

You should not amend the existing transactions once the rate has changed to prevent QuickBooks from recalculating the GST base on the new GST rate…