Software: Intuit #QuickBooks accounting software Stocktaking is an important task during the financial year end closing, you have to ensure the stock on hand value is correctly stated on the account. Should there be any discrepancy between the physical stocktake and the quantity or value stated in the QuickBooks accounting software, an adjustment to the […]

Software: Intuit QuickBooks accounting software QuickBooks allows you to consolidate multiple Sales Orders into one Invoice. Sales Order is used to track the orders from customers, backorders, and some users may also have used the Sales Order to track the consignment goods to customers. When the customer name is being picked up in the invoice, […]

Software: Intuit QuickBooks accounting software Although, the foreign currency invoice does show a base currency equivalent amount and an exchange rate used in the invoice, these fields are not available for print. Since the User defined fields in the template are limited, you may consider adding the base currency equivalent amount at the description area […]

Software: Intuit QuickBooks accounting software GST Output is a liability not an income. Hence, you can’t show a Profit and Loss report with the GST amount being added to the Income account. However, you can print a Daily Sales Summary report with a Net, Tax, and Gross amount of each invoice. From the Daily Sales […]

Software: QuickBooks accounting software Assume your GST cycle is quarterly, ends in March, June, September, and December. You have issued an advance payment of $10,000 before the 7% GST to a supplier in the month of October 2015 via a Write Cheque transaction. If the advance payment received forms part payment of the supply, GST […]

Software: Intuit QuickBooks Desktop accounting software GST (Goods and Services Tax) is a liability not an income account, hence when you print the Sales by Customer Summary report it prints only the sales amount (excludes GST), which is correct. You may consider using the Sales by Customer Detail report instead of the Sales by Customer […]