Cool Tips & Tricks for QuickBooks 2008

Here are some handy tips for those who are new to QuickBooks or who have experience but need ways to save time when processing daily transactions.

QuickBooks Tip #1: QuickBooks Coach

This handy new tool goes far beyond the traditional help function. The QuickBooks Coach outlines the workflow processes involved in whatever you request help for. This gives you the "big picture" for how the step fits into the overall accounting.

QuickBooks Tip #2: History Feature

Although not new, this useful feature is underutilized by small business bookkeepers. The history button is found in any transaction screen, such as an invoice, receipt, or payment. It brings up a window showing you all of the related transactions. A very useful application of this function occurs when you need to find out quickly if you have already paid an invoice. The History function will bring up the related payment information, assuming it was already paid, including check number and date.

QuickBooks Tip #3: Journal Feature

If you have ever been unclear about where in the financial statements a transaction will go, the Journal function is handy. The Journal button appears in any transaction screen, such as an invoice, receipt, or payment. It brings up a window showing you the debits and credits behind the transaction. You can also access this functionality with the key sequence CTRL+Y.

QuickBooks Tip #4: Calculator Function

This is a little known but highly cool tool. It can be used in any number field that represents dollars or quantities. Highlight the number field and press the = button to bring up the calculator. Perform mathematical calculations on the tape the same way you would a regular calculator (note that it is in calculator not adding machine format). Use C to clear the entry, CC to clear the tape, and ESC to cancel the calculation. Key ENTER or TAB to total the calculation and leave the result in the highlighted field.

QuickBooks Tip #5: Merging Customer, Vendor or Employee Names

You may frequently find that you have inadvertently set up a vendor, customer or employee that has already been set up in the past. This is problematic especially in the case of employees because it will generate multiple tax slips for individual employees. The process to merge them together is fairly simple. Right click on the vendor, customer or employee name that you want to merge into another. Change the vendor name to the exact same name as the other vendor. Click OK. Click YES to confirm that you want to merge the two vendor names under the same name. This will help you keep your books tidy and organized.