Software: Intuit #QuickBooks #accounting software The general journal entry number has to be unique. You just need to set the first entry number and QuickBooks will automatically keep the running number in sequential order. For example, you enter the first entry number as J160801 and QuickBooks will automatically assign the next number as J160802, and […]

Software: Intuit #QuickBooks Desktop #accounting software You can tag a Sales Rep to a Sales Invoice or a Sales Receipt transaction. The double entry behind the Sales Invoice transaction debits sales revenue and credit accounts receivable account, or credit a bank account if you are using a Sales Receipt instead. If an inventory item sold, […]

Software: #QuickBooks #accounting software Although you have designed the invoice template with Subtotal, Tax Total (GST), and Invoice Total fields in the form footer, the GST Summary (Sales Tax Summary) is still automatically displayed after the last item. The GST Summary includes the tax rate and tax amount. For users with multiple tax codes on […]

Software: Intuit #QuickBooks #accounting software A Quotation (Estimate) is a document sent by the seller to a potential buyer, which states the cost of goods and services the seller has committed. A Quote is a non-posting transaction, which will not be included in the receivable nor deduct the inventory on hand from the item list. […]

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 […]

Software: Intuit #QuickBooks #accounting software Businesses, especially when launching a new product, may give away product sample as a form of marketing. Although you are not selling a product, to correctly capture the cost of goods sold and the inventory on hand, a sales invoice transaction is used to record the delivery of the product […]