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#QUICKBOOKS 2018 DESKTOP ACCOUNTANTS UPDATE#
#QUICKBOOKS 2018 DESKTOP ACCOUNTANTS UPGRADE#
#QUICKBOOKS 2018 DESKTOP ACCOUNTANTS PASSWORD#

I hope these QuickBooks year end questions and answers help you in 2018 and beyond. Back-Up company file and verify that periodic backups are being made in a timely fashion.

It will save you time, reduce errors, and the rates are quite competitive. Credit Card Processing – If you accept credit cards, consider using QuickBooks Credit Card processing.

#QUICKBOOKS 2018 DESKTOP ACCOUNTANTS UPGRADE#

There are many discounts and promotions don’t assume the website or on-screen upgrade is the best price. 2015 versions will not be supported after May 2018.

QuickBooks Desktop Version – If you are using a 2014 version, you are no longer supported by Intuit QuickBooks and you should consider upgrading.

Company Preferences – Review your company preferences to insure you are getting the most out of your QuickBooks feature set.

QuickBooks Users – At least once a year you should review your user list and delete users that are no longer with the company.

Process Payroll Tax Returns Also, if you aren’t processing your payroll using QuickBooks, you are spending additional time entering data and performing bank reconciliations consider QuickBooks Payroll options to save time and money.

Select Vendor menu – Print/eFile 1099s and follow prompts.

Process 1099s – Use QuickBooks to calculate and print/file your 1099s.

In addition to reconciling accounts and correcting errors, there are tax forms to file and this is a good time to look at other factors that affect your accounting system. QBBS – QuickBooks: Quickly Reconcile & Create Balance Sheet Schedules QBDR – QuickBooks: Client Data Review- Tools to Easily Correct Errors

Having multiple company files can cause errors if the wrong file is used for data entry.Īnswer: there are various tasks that need to be completed to reconcile the books and records, which are discussed in detail in the following webinars:.

A second company file is needed for questions regarding the prior year.

A new file will not contain your transaction history.

Starting a new file is time consuming, confusing, and error prone if you have inventory, accounts receivable, and/or accounts payable.

Should I start a new company file at the beginning of the year?Īnswer: No! I do not recommend starting a new company file unless there is data corruption and the file cannot be repaired by Intuit QuickBooks Data Services.

#QUICKBOOKS 2018 DESKTOP ACCOUNTANTS PASSWORD#

To set the Closing Date, select Edit Menu – Preferences – Accounting:Ĭheck the box to exclude estimates, sales orders, and purchase orders from closing date restrictions these transactions do not affect the general ledger.Įnter the closing date – Enter a password – Select OKĢ. This way the client can call and discuss any changes they want to make in the file and we can determine if the changes will require an amended financial statement and/or tax return. When I set the Closing Date for a client, I use my phone number as the password. Accountants can also set a Closing Date before returning an “Accountant’s Copy” changes. Some accountants set a Closing Date each month after issuing financial statements. The system keeps the last Closing Date entered.

#QUICKBOOKS 2018 DESKTOP ACCOUNTANTS UPDATE#

In future years, just update the Closing Date.

This feature protects the integrity of the prior period books and records.

This Closing Date does not remove transactions, it just prevents them from being edited. However, it is suggested that after reconciling the books you enter a “Closing Date” which will prevent you from modifying the previous year transactions unless you enter the Closing Date password. How do I close the year in my QuickBooks file?Īnswer: You don’t! QuickBooks company files do not require or support a year-end close process. Since I frequently hear the same three questions about QuickBooks Desktop at the start of every new year, I thought I’d share these most-asked QuickBooks year end questions (and answers) with you!ġ. QuickBooks Year End Questions & Answers By Ilene Eisen, CPA, CITP January 8, 2018