Tuesday, 8 August 2017
QuickBooks Mistakes and How to Fix Them
QuickBooks is one of the best accounting software that accountants or even business owners can use to get a complete solution for all their accounting needs in one place. It offers various features customized to fit the varying types of clients it services. Moreover, it is upgrade to be used on the cloud that enables additional benefits like remote access, multi-user accessibility and shared data storage.
However, QuickBooks might get over the head of somebody who is new to it. There are a lot of things that can be confusing at the first glance. The huge set of features it offers can appear to be overwhelming for some. This often leads to these new users making mistakes that they would regret. While it might take some time for a newbie to become comfortable with QuickBooks they should definitely understand the common mistakes they might be making to make sure that they don’t repeat them.
Top 5 QuickBooks Mistakes and How to Fix Them:-
Many businesses are using the QuickBooks for managing their finance but only of them are using it correctly. These mistakes might not seem important but in the long run they can be disastrous. Following are the top five mistakes businesses should avoid when Quickbooks.
1:- Not Reconciling Bank Accounts
2:- Not Using Shortcuts
3:- Not Backing Up Your Account
4:- Not Upgrading Software Versions
5:- Entering A Bill And Then Writing A Check
1:- Not Reconciling Bank Accounts:-
An Account's integrity depend on reconciliation which guarantees its accuracy. If you account is attached to QuickBooks, make reconciliation a regular habit.
2:- Not Using Shortcuts:-
Keyboard shortcuts are not used as they should be. Not only do they allow quicker navigation but also reduced wear and tear of your wrists.
3:- Not Backing Up Your Accounts:-
QuickBooks Data is very important. The loss of this data can cripple a company. Regularly back up your QB data so that it is safe from unexpected problems.
4:- Not Upgrading Software versions:-
Many accountants and CPAs use older version of QuickBooks, deeming the extra expense needless. However, having an update software has its own benefits as it comes with new software fixes and tax laws.
5:- Entering a Bill and Then Writing a Check:-
Bills and checks should not be fixed. use the "Enter Bills" and "Write Checks" window for their respective purposes. Go to "Pay Bills" for payments.
1:- Runs Slow in Multi-User Mode:- Most of the QuickBooks user face this problem with the Multi-user mode.To resolve this problem you need to use a large amount of RAM and hard disk, so that you can easily use the QuickBooks software with a heavier load of multiple users. You can also follow the link as well as to have a detailed information on this topic:
2:- Inaccurate Report Setting:- you face this error most of the time when you are using QuickBooks software.First of all check, do you want cash reports or accrual reports or both. Cash reports show the cash in and out of transactions within your company and accrual reports show you the overall performance of your company.
3:- Lost of data:- we all know that QuickBooks Upgrade his software time to time. But some time clients update his QuickBooks software without taking backup of the company file and then that time there company data loss.So, if you are taking a backup of company file data, then after that time, you can update your QB software.
4:- Reconciling the Bank statement:- This issue is not the same as entering every transaction into QuickBooks. Preferably, It’s about monitoring the transactions to make sure they’re in the right place for the right amounts.To accomplish this, open the reconciliation module monthly and go through each transaction. Make sure each transaction was posted to the right account and has cleared the bank.
5:- Un-deposited funds problem:- When you are receiving payments from customers and your cash account isn’t increasing on your financial reports, you are most likely using Un-deposited funds incorrectly. When you received a payment from a customer, then open up the deposit module and then batch checks together that you’re taking to the bank and record them as one single deposit in the software.
6:- Forget Administrative Password:- This is one of the major issues. If you lost your admin password it is recommended to re-install QuickBooks software on your system. There are many software programs available in the market which can break the admin password, but simultaneously there also is a need to protect your data from such threats. So, the safer path is to re-install.
Mistake are a part of the understand process. They help build the expertise needed to prevent headaches. So don't worry just learn from mistakes! For You get the any help contact QuickBooks Support phone number “+1-855-441-4417” and get a real time solutions.
Firstly you hire the employees and review basic payroll requirements, you need to figure out how to get them paid. You are using the three ...
Traditional Accounting vs Cloud Accounting Professional world of the Cloud We have mostly using the leading email and social me...
Are Quicken And QuickBooks The Same Thing Introduction:- Quickbooks Accounting Software operation are no more about paper work in this...
Whether a huge amount or just a few items, the inventory needs to be tracked. ypur bookkeeper can use QuickBooks for storing inventory inf...