Nice Video From Intuit

August 18, 2010 By 3 Comments

QuickBooks Accounting VideoI recently came across a video that was created by someone at QuickBooks that I think is really well done.  It’s a good basic summary of how accounting works in a typical small business.  If you liked my “Accounting Primer” then I think you’ll like this video too.  It explains all of the important accounting concepts such as the P+L, Balance Sheet, Cash Flow, Chart of Accounts and more.

I can’t figure out where this video came from or what group at Intuit created it but it is very well done and I wish I could embed it here on my site, but that isn’t an option.  So, if you want to watch it just click the screenshot and it will link you right to it.  The video runs just about 10 minutes.

If you watch it, please leave a comment to let me know what you think!

P.S. – I you aren’t already on my email list, now would be a great time to sign up for it…there are going to be some big announcements coming over the next couple of weeks and you won’t want to miss out!  Just head on over to the home page to sign up.

This post was written by Michael Debyah.

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Episode 16: Making Deposits

May 6, 2010 By 5 Comments

One of the most misunderstand areas of QuickBooks is the mysterious “Undeposited Funds” account.  This really confuses a lot of people and in this episode I try to explain how it works and why it is useful.  In order to understand it, you have to think about the process of events that take place throughout the sales cycle.  First you create an invoice, then you receive payment from your customer, then you make a deposit into the bank account.  Once you analyze what happens in each of these steps, you should have a better understanding of how the Undeposited Funds account works in QuickBooks.

Was this lesson helpful to you? Please let me know in the comments section down below!

Sign up for my email list to get QuickBooks news and other info delivered to your inbox.

This post was written by Michael Debyah.

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Episode 15: Receiving Customer Payments

March 29, 2010 By 13 Comments

After the last 2 episodes you should have a good idea of how to create invoices to your customers.  The next step is to get paid!  The “Receive Payments” procedure in QuickBooks is pretty straightforward but there are several different possibilities to think about.  The customer can either pay the exact amount that they owe, they can give you an overpayment or an underpayment.  I briefly demonstrate each of these scenarios so you can see what happens with each one.  As always, please leave any questions about this episode in the comments section below.

I also mention my new email newsletter signup that is available on the home page.  As a “thank you” for signing up you will get an e-book that I put together called the “Accounting Primer:  All the Accounting You Need To Know”.

This post was written by Michael Debyah.

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Episode 14: Invoices and Items (continued)

March 14, 2010 By 2 Comments

I continue the discussion about using QuickBooks items on invoices, bills and checks.  I use a brand new company file with no other transactions to demonstrate the accounting that goes on behind the scenes when using different items.  The discussion veers into inventory territory for a while, but that is all related to items anyway.

Do you have a specific item related question?  Let me know in the comments section for this episode!

This post was written by Michael Debyah.

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30 QuickBooks Tips In 30 Days: Day 9

February 24, 2010 By 4 Comments

Yesterday I mentioned how by default, QuickBooks has way too many icons on the home page.  Well, I also think that there are too many icons on the icon bar by default.  The icon bar is the toolbar at the top of the window that has icons for things like the Home Page, Customer Center, Vendor Center, etc.

Tip #9 of 30:  Customize the icon bar

The nice thing about the icon bar is that you can totally customize it and make it your own.  Just go to the “View” menu and click on “Customize Icon Bar”.  You will see the list of icons currently included on the bar.  You can delete any that you don’t want and you can drag them up and down to reposition them.  You can add new icons here too, but I think there’s a better way to do it.

Close the Customize Icon Bar window and return to your QuickBooks desktop.  Open the screen that you want to add to the icon bar.  For example, if you want to add an icon that open up the “Transfer Funds” screen you first open up that screen.  Now that it is open in front of you, go up to the “View” menu and select “Add Transfer Funds Between Accounts to Icon Bar…”.  You will get to choose an icon graphic, a label and a description.  Bam!  You just added your own shortcut icon to the icon bar!  By default it goes all the way over on the right so you may need to go into the “Customize Icon Bar” screen to move it to the position that you want it.

This technique works for just about any window, including reports.  So you can put icons on your icon bar for easy, one click access to the reports that you use most often.  It is a huge time saver!  And your report gets saved along with any filters or custom columns that you have set up, making it even more useful.

Did you find this tip useful?  If so, I would love for you to leave a comment below.  I would also love to hear some of your favorite QuickBooks tips!

This post was written by Michael Debyah.

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