journal

How to Enter a Credit Card Charge in QuickBooks

Is there really anyone in the business world that does not use a credit card in their business transactions? I mean, it’s just a part of doing business these days and QuickBooks is no exception. Read on, as I am going to show you how to enter in a credit card charge. Before I begin, I would make sure that I have a credit card account  and if not, set one up by going to Chart of Accounts,...

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QuickBooks Quik Tip for the Day – Loan Manager

For companies that have loans that require the tracking of both the principal and interest, the QuickBooks Loan Manager will do just that.  No more having to setup those Excel tables or refer to those amortization tables, calculating the loan payments and manually entering the journal entries. All you have to do is go to Menu Bar/Banking/Loan Manager. From there you can Add a Loan, Set Up...

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QuickBooks Customer Credit Memos & Refunds

At some point in time dealing with your Customers, you will have to process a Credit Memo or Refund. These will be used to record the return of items sold, to reduce a customer’s outstanding account or to issue a customer refund. For this example we are going to use the customer named Hart Printing. You will recall that in the last segment on  Memorized Transactions, there was an...

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Setting up Bank Accounts and Opening Balances

Setting up Bank Accounts and Opening Balances

  The Opening Balances in QuickBooks relate to the Balance Sheet accounts. If you are starting somewhere in your fiscal year, say after the first quarter, then you will have to input those figures for all the accounts using a General Journal entry. I will first deal with using the account setup and opening balance features before addressing the journal entry. Bank Account – Now you may...

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