Setting Up Sales Taxes in QuickBooks, Part 1

If your business is required to collect and pay state sales taxes, you can use QuickBooks’ tools to help you meet those obligations.   Next to payroll, state sales taxes represent probably the most complex element of your accounting tasks. QuickBooks can help with the mechanics, but there’s a lot you need to learn before… Read More


5 Things To Know About the Chart of Accounts in QuickBooks Online

QuickBooks Online doesn’t require deep knowledge of accounting principles. Still, there are concepts you should understand, like the chart of accounts.   You probably didn’t expect you’d have to become an accounting expert when you started your business. You knew you’d have to deal with recording income and expenses – maybe track your inventory and… Read More


What has your QuickBooks inventory tracking done for you lately?

inventory tracking

It’s no secret that QuickBooks inventory tracking has its limitations. Even using the Advanced Inventory functionalities in QuickBooks Enterprise (the highest level of the QuickBooks suite) is often insufficient for fast-growing, high volume, or beyond-basic manufacturing companies. But before we turn to building out complex Excel spreadsheets or considering investing hundreds of thousands of dollars… Read More


Using QuickBooks’ Bill Tracker

If your business pays a lot of bills, you need an efficient system for staying current with them. QuickBooks’ Bill Tracker provides that.   Bill-paying might be your least favorite accounting activity. You definitely know how those checks and online payments affect your account balances, but accounting is more complicated than that. Staying up to… Read More


Do You Need to Bundle Products in QuickBooks? Create Assemblies

If you frequently sell multiple inventory items grouped together, you need to learn about QuickBooks’ assemblies. Let’s get started.   Let’s say you run a home improvement retail outlet, and one of the things you sell is doors. You might sell their parts—frames, hinges, doorknobs, etc.—individually, in case a customer needs to replace a piece…. Read More


4 Things You Should Know About Advanced Settings in QuickBooks Online

Do you know about all of QuickBooks Online’s advanced settings? What you’re missing may be important.   Looking through all the settings available in QuickBooks Online is something like reading the owner’s manual when you get a new car. You know you should do it, but you find yourself consulting it only when you encounter… Read More


The Life of an Estimate in QuickBooks Online

Estimates—or quotes, or bids—are useful tools when you’re pitching a sale of products or services. Here’s how QuickBooks Online handles them. Sales estimates are standard procedure in many professions. You wouldn’t authorize a car repair without one. Nor would you OK a remodeling job on your kitchen or a summer’s worth of yard landscaping without… Read More


Issuing Credit Memos and Refunds in Quickbooks

You’re accustomed to money going in a certain direction, but sometimes you have to pay your customers. Here’s how to issue credit memos and refunds in QuickBooks. QuickBooks is very good at helping you get paid. It comes equipped with customizable invoice templates for billing customers and sales receipts for recording instant sales. QuickBooks supports… Read More


Receive Payments the Right Way in QuickBooks: Your Options

How you record customer payments in QuickBooks depends on why and how you received it. Let’s learn more about this together. We like QuickBooks because it uses language and processes that are familiar to small businesses. Instead of using the term “accounts receivable,” it has a menu label that says Customers and menu items that… Read More


Could Your Sales Invoices Be Better? How Quickbooks Online Can Help

Every interaction with your customers can enhance your image. Here’s how QuickBooks Online contributes to that by helping you make better sales invoices. Getting paid by your customers—on time, and in full—can take some effort on your part. You set smart due dates and enforce them. Price your products and services so they’re both reasonable… Read More


How Do You Track Jobs in Quickbooks?

Last month, we showed you how to start building a foundation for tracking jobs in QuickBooks. We explained that you can use the software’s jobs tools to track income and expenses for any related group of items and/or services (you can think of them as projects, if you prefer). We covered three elements of preparing… Read More


How Does Quickbooks Online Handle Mobile Expenses?

If you purchase several items and services away from the office, QuickBooks Online can help you record them while you’re out and about. Learn how the app can help you record your mobile expenses. QuickBooks Online’s mobile app, available at the Apple App Store and Google Play, can do many of the same tasks that… Read More


How to Apply Quickbooks Finance Charges

You may hate to have to do it, but assessing finance charges for late payments may improve your overall cash flow. There are myriad ways to bring in customer payments faster and improve your cash flow. You can: Get a merchant account and let customers pay you electronically Offer a discount for early payments Shorten… Read More


Quickbooks Ecosystem: What Is It, and How Can It Benefit Me?

First of all, what is the Quickbooks Ecosystem? The QuickBooks EcoSystem refers to your QuickBooks software and all the apps connected with it. This ecosystem provides better functionality for your business. It exists to make your life easier. Many companies use apps to track valuable information like timesheets, project management, and inventory outside of QuickBooks,… Read More


Getting Started with Accounts in Quickbooks Online (Part 2)

We covered a lot of ground last month, but there are still some important things to know about working with transactions you import from your banks. Let’s talk about getting started with accounts. Last month, we went over the basics of managing financial transactions once you’ve downloaded them into QuickBooks Online. We walked you through… Read More


Getting Started with Accounts in QuickBooks Online, Part 1

QuickBooks Online was built to work with transactions downloaded from your online financial institutions. Here’s how to work on getting started with accounts. The ability to import transactions from financial institutions into QuickBooks Online is definitely one of the best things about the site. You may have signed up for that very reason. By now,… Read More


How to Enter Bills in Quickbooks

This month we’ll be talking about how to enter bills in QuickBooks. It’s not as much fun as creating invoices, but the bills must be paid. Here’s how QuickBooks helps.

We’re in a bit of a transitional period with business bill-paying. Some paper bills still come via the U.S. Mail, but you may also be getting some through email. Others don’t come at all: you might get a reminder email, but you have to go to the vendor’s site to make a payment.

How do you keep track of it all so you don’t miss any due dates? You could record them on a calendar, but you’d still have to go back to the actual bill to retrieve the amount. But where is it? Is it online, in your email inbox, in a file folder, or hanging on the wall?

QuickBooks can organize this unpleasant process, saving time and helping you avoid confusion. Here’s how it works.

A 2-Step Process

QuickBooks divides your accounts payable tasks into two separate processes: entering bills and paying them. It requires some extra time upfront as you complete the first step, but streamlines the second so that the actual bill-paying only takes a few seconds.

To get started, click Enter Bills on QuickBooks’ home page to open a window like this:

Before you can pay a bill in Quickbooks, you need to create a record for it.

The toolbar for the Enter Bills window is not pictured in the image above, but you don’t need it yet. Rather, you start by clicking the down arrow in the field next to VENDOR and selecting the biller’s name from your list (or clicking <Add New> if you haven’t yet created a record for that entity). The ADDRESS should fill in automatically, as should the date.

If you set up default payment TERMS in that vendor’s record, your preference should show in that field and the BILL DUE date should be correct. Enter the AMOUNT DUE and complete any of the optional fields that the transaction requires (REF. NO., DISCOUNT DATE, and MEMO).

Since this is a utility bill, the Expenses tab should be highlighted, and the amount you entered above should appear in it. Below that is the ACCOUNT field; open that list and choose the right one. Don’t worry about the CUSTOMER:JOB and BILLABLE fields. These will only be completed when you’re charging a customer for an expense or item.

Warning: If you’re not familiar with the concept of assigning accounts to transactions, please schedule some time with us by calling Squire at (801) 225-6900. This concept is a critical designation that affects so many other areas of QuickBooks.

Saving Your Work

The toolbar from the Enter Bills window

The Memorize Transaction window will open with your vendor already entered in the Name field. You’ll have three options here:

  • Add to my Reminders list. QuickBooks can add this bill to its list of Reminders. To ensure that you’ll see this every time you open the software and can make any changes necessary, open the Edit menu and click Preferences | Reminders| My Preferences. Click in the box in front of Show Reminders List when opening a Company file. Then click the Company Preferences tab (if you’re the administrator) and find the Bills to Pay row. Click the appropriate button to indicate whether you want QuickBooks to Show Summary or Show List, and enter the number of days before due date.
  • Do Not Remind Me. Just what it sounds like.
  • Automate Transaction Entry. You can only select this if the transaction will be exactly the same every time (except for the date). If the number of transactions will be limited, enter the Number Remaining. And tell QuickBooks how many Days in Advance To Enter.

If you choose the third option here, be very careful when you define the automation. You should really only do this if you’re an advanced user.

When you’re done, click OK to close the box, and save the bill.

Next month, we’ll talk about the second step: the actual paying of bills. In the meantime, let us know if you want to schedule a session to go over any aspect of your accounts payable – or anything else in QuickBooks. Please call Squire at (801) 225-6900 to schedule an appointment with one of our ProAdvisors.

Sending QuickBooks Info to Accountants

Written By: Jennifer Amos    QuickBooks allows you to easily send your QuickBooks information regardless of whether you are using the online or desktop version. Below are some helpful instructions on sending Quickbooks info to accountants.   QuickBooks Online: QuickBooks Online allows you to invite an accountant to view your QuickBooks Online file through email: Click… Read More


Polish Your Image: Customize QuickBooks’ Forms

The invoices and other forms you send to customers and vendors should reflect your company’s attention to detail, accuracy, and consistency. It’s time to customize forms.   Every opportunity you have to interact with your customers and vendors is critical. Whether it’s a phone call, an in-person connection, or an email, how you present yourself… Read More


Creating Product and Service Records in QuickBooks Online

QuickBooks Online is good at managing and tracking inventory – as long as you’ve created thorough product and service records.   When you first started your business, you might have been able to keep track of your merchandise by counting manually. But as you and your product list grew, this became impractical. You might have… Read More


Get Paid Faster Using QuickBooks

Are your customers slow about paying their invoices? QuickBooks can help accelerate your receivables so you can get paid faster.   Your company’s cash flow depends largely on how quickly your customers pay the invoices you’ve sent. And if you’re like most small businesses, those checks tend to dribble in close to—and after—the due date…. Read More


Getting Ready for Payroll in QuickBooks Online

Taking on your company’s payroll with QuickBooks Online? Knowing what you’re up against ahead of time will make your setup tasks much easier. Payroll is probably the most complex element of small business accounting. You are directly responsible to your employees, and you also have to make sure you’re handling everything related to benefits and… Read More


Settings Up Sales Tax in QuickBooks Online

Sales tax is one of the more complicated concepts supported by QuickBooks Online. QuickBooks Online was designed for you, the small businessperson. You’ve probably discovered that many of its features are fairly easy to use from the start. But just because QuickBooks Online can do something doesn’t mean you should attempt it on your own. Sales tax is… Read More


Working with QuickBooks’ Vendor Records

It’s important to maintain good relationships with your vendors and suppliers. QuickBooks helps you track your interaction with them through vendor records. QuickBooks never forgets. That’s one of the reasons you use it. You create a record or transaction, enter a note about a customer, or write a check, and the information is stored in… Read More


Creating Customer Statements in QuickBooks

Invoices not being paid promptly? Customers questioning their payment history? Create customer statements.   Let’s say you have a regular customer who used to pay on time, but he’s been hit-and-miss lately. How do you get him caught up? Or, perhaps one of your customers thinks she’s paid you more than she owes. How do… Read More


Working with Checks in QuickBooks

Online banking may get all the headlines, but a lot of small businesses still prefer paper checks. QuickBooks can accommodate them. “I don’t write checks anymore,” you hear a lot of people say these days. Debit cards, smartphone payment apps, and online banking have replaced the old paper checkbook for a lot of consumers. Why… Read More


How to Keep Your QuickBooks Data Safe

You work hard to make sure your QuickBooks data is accurate. Make sure it’s safe, too. Your QuickBooks company file contains some of the most sensitive information on your computer. You may have customers’ credit card numbers and employees’ Social Security numbers. An intruder who captured all that data could create tremendous problems for you… Read More


Are You Memorizing Transactions? Should You Be?

You know that QuickBooks saves a lot of time. But have you explored how much time you could save by memorizing transactions? Your accounting work involves a lot of repetition. You send invoices. Pay bills. Create purchase orders. Generate payroll checks and submit payroll taxes. Some of the time, you only fill out those transaction… Read More


Need to Set Up Users in QuickBooks Online?

Your employees probably don’t need access to every corner of QuickBooks Online. Here’s how to set limits while you’re setting up new users. One of the best attributes of QuickBooks Online is that multiple users can access it without having software installed. No more paying up front for a boxed copy that you’ll store on… Read More


Your First Hour with QuickBooks Online

Whether you’re launching a business or going online with an existing company, take some time to get acquainted with QuickBooks Online. Here’s what you should do during the first hour. Your first hour with any web-based application is probably spent exploring and clicking buttons, links, and other navigation tools to get the lay of the… Read More


Using Custom Fields and Classes in QuickBooks Online

QBO’s tools are generic enough that myriad businesses can use it. But custom fields and classes help you shape it to meet your specific needs. Small business accounting is not a one-size-fits-all proposition. Your company is unique in that sense; you have your own customers and products, vendors and services. Your requirements for your accounting… Read More


5 QuickBooks Reports You Need to Run in January

2018 has begun. Does your accounting to-do list look like a clean slate, or are critical 2017 tasks still nagging? Getting all of your accounting tasks done in December is always a challenge. Besides the vacation time you and your employees probably took for the holidays, there are those year-end, Let’s-wrap-it-up-by-December-31 projects. How did you do last… Read More


Creating Reports in QuickBooks, Part 2

Last month, we discussed QuickBooks’ report Preferences and The Report Center. We’ll look at creating reports and report customization this month. QuickBooks makes your bookkeeping faster, safer, and more accurate than what you could do using a manual system. Still, you may occasionally tire of your daily tasks. You want to know what all of… Read More


Customizing QuickBooks Online Forms

Make a good impression on your customers by sending them well-designed sales forms. QuickBooks Online can help you create them. Your company’s “brand” can be composed of many things, but it’s really about what pops into your customers’ minds when they think of you. Key components include your logo, your color scheme, and any other… Read More


Introducing QuickBooks 2017

QuickBooks 2017 Introduction QuickBooks 2017 was built with power users in mind.  These are users that spend hours everyday in QuickBooks Desktop and do certain tasks repeatedly.  These tasks include: Creating and sending reports looking up customer and vendor information Dealing with bills and checks especially in Multi-User Mode Coordinate working with multiple users in… Read More


Can’t Keep Up with Bills? QuickBooks Online Can Help

There are more pleasant accounting tasks than paying bills, but QuickBooks Online organizes and simplifies this critical chore. How Are You Handling Bills? How does your company keep track of its bills now? If you’re like a lot of small businesses, you’re still dealing with a lot of paper. You may have a paper or… Read More


Better Budgeting Using QuickBooks Online Plus

Everyone groans when budget time rolls around. QuickBooks Online Plus offers tools that simplify the process. Budget. The word evokes a sense of dread in most small business managers’ minds. Large corporations have entire teams of accountants that work on this critical element of financial planning. You, on the other hand, must go it alone… Read More


Setting Up User Access in QuickBooks

Will multiple employees be working with your QuickBooks company file? You’ll need to define their permission levels. If you ever did your bookkeeping manually, you probably didn’t allow every employee to see every sales form and account register and payroll stub. Most likely, you established a system that allowed staff to work only with information… Read More


Charging for Time in QuickBooks Online, Part 2

Last month, we talked about time-tracking setup, single-activity data entry, and user permissions. This month, we’re exploring additional time-and-billing steps. By now, you’ve set up QuickBooks Online for time tracking and entered your first timed activity. If you have employees who only need to get on the site to complete their timesheets, we showed you… Read More


Charging for Time in QuickBooks Online Plus, Part 1

You could be losing revenue if you’re not tracking billable time carefully. QuickBooks Online Plus can help. You can’t see time. Nor can you look at hours and minutes to see how many you have in inventory. But if you’re a service-based business, your income is derived from this invisible asset. Billable time needs to… Read More


Tracking Products and Services in QuickBooks Online, Part 2

Last month, we explored the process of creating a product record. (Read the blog post here.) Now we’ll look at where they’re used in QuickBooks Online. Have you been able to create records for all of your products and services? If you have a large inventory, this can be a time-consuming process. But we recommend… Read More


Tracking Products and Services in QuickBooks Online, Part 1

Inventory management requires precision, constant attention, and smart decisions. QuickBooks Online can help. If you started small with your business, keeping track of your product inventory was probably pretty easy. Maybe you kept your stock in a few boxes or a closet, and it was easy to tell at a glance what needed replenishing. As… Read More


Use QuickBooks Custom Fields to Improve Insight

QuickBooks’ structure is universal enough to appeal to millions of small businesses. Custom fields help you shape it to meet your company’s unique needs. If you’re using QuickBooks, you probably know that you’re complying with the rules of double-entry accounting. The software is designed such that you can be compliant with these requirements without even… Read More


What You Should Know About the QBO Mobile App

QuickBooks Online’s mobile app lacks some features found in the browser-based version, but it provides mobile access to tools you may want on the road. First, it’s free (except for your mobile data plan costs). Second, it’s good. And QuickBooks Online’s mobile app offers more functionality than you might expect. Available for iOS and Android… Read More


How to Purchase and Download QuickBooks Software

  Squire and Company, PC. wants to help you with all your QuickBooks needs. Please follow the instructions below to purchase and download your QuickBooks software. The links provided here only work for those who have purchased QuickBooks software.  A valid license number and product number are required to install the software.  To purchase and download your… Read More


Use Recurring Transactions in QuickBooks Online

Save time and ensure that repeating transactions are processed as scheduled. You know how much time QuickBooks Online already saves you. Customer, vendor, and item records need never be entered again once they’re created for the first time. Pre-built forms use your record data to complete transactions quickly and accurately. Customizable report templates provide real-time… Read More


QuickBooks Reminders Prevent Problems

Preserve your relationships with customers, vendors, and others by setting up reminders in QuickBooks. How many calendars do you maintain? Many businesspeople have more than one. Maybe you use a web-based or desktop application like Google Calendar or Outlook for meetings, task deadlines, travel dates, etc. Your Customer Relationship Manager (CRM) might have another. Perhaps… Read More


QuickBooks Online Multicurrency Update

With a growing global marketplace, many companies need accounting software that supports a multicurrency environment. The good news is that on August 12, 2015, Intuit released an update for QuickBooks Online users to support multicurrency. This option is currently only available to QuickBooks Online users, so here are some basic examples of manual conversion calculations. … Read More


Managing Users in QuickBooks Online

A multi-user accounting application needs good tools for assigning access permissions. QuickBooks Online has it covered. You trust your employees, or you wouldn’t have hired them. But you also have a grave responsibility to your customers and vendors: to keep their data safe, and to ensure that records and transactions remain accurate and unchanged throughout… Read More


How QuickBooks Helps You Accelerate Receivables

Getting paid by your customers in a timely fashion is one of the biggest challenges of being a business owner. QuickBooks can help with receivables in several ways. You’re meeting your sales goals. Keeping inventory balanced. Making sure that every billable hour gets invoiced. Taking advantage of vendor discounts. Basically, doing everything in your power… Read More


Working With Your Accounts in QuickBooks Online

“Account” can mean more than one thing in QuickBooks Online. Here’s a look at its multiple concepts. Until you started doing your company’s accounting, the word “account” probably meant a checking or savings account at a bank or your identifying information at a place like a brokerage. In QuickBooks Online, “account” can mean the same… Read More


New to QuickBooks Online? Take a Tour Around the Home Page

Switching from QuickBooks desktop or starting fresh with QuickBooks Online? Here’s a quick overview of its home page. Whether or not you’ve ever used accounting software, we think you’ll like using QuickBooks Online. It was designed for small businesses who have little accounting experience, and its user interface and navigation should be familiar to anyone… Read More


New Tangible Property Regulations – Will your business be affected?

The IRS recently finalized mandatory regulations to distinguish capital expenditures from supplies, repairs, maintenance, and other deductible expenses – commonly known as the Repair Regulations. Every business that acquires, produces, or improves tangible property will need to address these new rules on their 2014 U.S. federal tax filing. These new rules are complex. These rules… Read More


Creating Item Records in QuickBooks

Accurate, thorough item records inform your customers and help you track inventory levels correctly. Whether you’re selling one-of-a-kind items or stocking dozens of the same kinds of products, you need to create records for each. When it comes time to create invoices or sales receipts, your careful work defining each type of item will: Ensure… Read More


Depositing Payments in QuickBooks: The Basics

Creating bank deposits manually can be a huge chore. QuickBooks simplifies this task. It may be satisfying to enter customer payments manually on a paper deposit slip, but it can also be tedious and time-consuming. Whether you accept cash, checks, or credit/debit cards, QuickBooks has tools that help you streamline the process of moving the funds… Read More


Importing into QuickBooks, Part 1: IIF Transaction Creator

Do you create transactions in QuickBooks? Are you comfortable importing transactions? In today’s technological world, it has become a business necessity to import data into QuickBooks from other sources such as your website, CRM software, or cash register. There are many tools available to help. In this video, we explore one of the many tools… Read More


Customize QuickBooks’ Data, Make Better Business Decisions

QuickBooks simplifies and speeds up your daily accounting work, but you’re missing out on valuable insight if you don’t customize your report data. Do you remember why you started using QuickBooks? You may have simply wanted to produce sales forms and record payments electronically. Gradually, you expanded your use of the software, perhaps paying and tracking… Read More


Linking Bank Accounts and Credit Cards with QuickBooks Online

Many QuickBooks Online users spend hours every week manually inputting their bank and credit card transactions. Wouldn’t you like to save some time? There’s an easier and more efficient way to input transactions. Luckily, all you have to do is link your bank accounts and credit cards directly with QuickBooks Online. After your bank accounts… Read More


24 QuickBooks Point of Sale Terms You Should Know

If you’re new to QuickBooks Point of Sale, get ready to expand your vocabulary. When you first start using QuickBooks, even if you’ve been doing manual accounting for your business, there’s a learning curve. You recognize some things, like check blanks and invoice forms, but you have to take on an unfamiliar workflow, deal with… Read More


A Tour through QuickBooks’ Payroll Setup Tool

Getting QuickBooks ready to process payroll is a complex, time-consuming process. Here’s what you can expect with payroll setup. Payday. You look forward to it when you’re young and working at your first part-time job. But as a grown-up who needs to start processing payroll for your employees, you probably anticipate it in a different… Read More


Fishbowl & QuickBooks

Do you need help keeping track of your inventory? Fishbowl can help! Fishbowl is an advanced inventory third party app for QuickBooks.  We at Squire are extremely familiar with Fishbowl and would be happy to help you learn more about it or get it implemented with your system. Call us at (801) 225-6900 today!


Tallie & QuickBooks

Tallie is an automated expense tracking tool that works with QuickBooks.  No data entry is required — It’s as simple as taking a picture of your receipt with your phone.  I was able to spend a good amount of time talking with a Tallie representative at the Scaling New Heights Conference.  If you have any… Read More


5 Things to know about Importing into QuickBooks Online

QuickBooks Online (QBO) is a great user friendly environment with anytime, anywhere access and great built-in automation to perform your accounting. As with most software, setting up the file for use is the part that takes the longest. So, there are some shortcuts you can use, such as building your lists in Excel and then… Read More


You’ve Subscribed to QuickBooks Payments: What Now?

You’ve just made QuickBooks portable and more flexible, and you’ll probably increase sales and get paid faster. Here’s why payments can help. QuickBooks Pro and Premier are remarkable applications. You can create records and transactions, manage sales and purchases, process your payroll, and run reports right from your desktop. But today’s successful companies have moved… Read More


8 QuickBooks Reports That You Should Be Running Regularly

QuickBooks provides dozens of customizable report templates. You know when you need some of them, but which are musts? You send invoices because you sold products and/or services. Purchase orders go out when you’re running low on inventory, and there are always bills to pay, it seems like. All of this activity is, of course,… Read More


Setting Up Payroll Schedules in QuickBooks

One of your early tasks as a payroll administrator will be to establish payroll schedules for your employees. Here’s how.   Payroll administration can be complex and time-consuming. It requires precision and tremendous attention to detail. Your employees are counting on you for their livelihood, and multiple taxing agencies expect you to submit your payments… Read More


Get QuickBooks Ready for Point of Sale Integration

Don’t expect to start ringing up sales until you’ve done some prep work for the integration in QuickBooks.   Years from now, accounting industry thought leaders tell us, small business accounting will rely heavily on integration. You’ll be able to choose from best-of-breed solutions to assemble just the mix of financial functionality that your company requires.  … Read More


Is Your State Small Business Friendly?

Are you a small business owner? Do you know if your state is friendly to small businesses? Luckily, Thumbtack.com can easily let you know. Thumbtack.com recently released its 2012 Small Business survey. This survey evaluates each state based on topics that affect small businesses such as regulations, licensing, tax codes, and employment. Only four states… Read More


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