Episode 17: Questions and Answers

August 20, 2010 By Leave a Comment

After another long hiatus, I’m back!  I got lots of questions emailed to me since my last show and I answer some of them on this new episode.  I also make 2 big announcements but you’ll just have to listen to find out what they are!

Topics discussed include QuickBooks purchase orders, the accountant’s copy (which continues to be a very popular topic), using classes to segment your reporting and using MICR software with QuickBooks.

Lots of new things are happening here and if you’re not already on the email list now would be a great time to sign up!  Don’t miss out on the latest developments as the show continues to evolve and big changes are made.  You can sign up right on the home page. [Read more...]

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!

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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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Episode 13: Invoices and Items

February 20, 2010 By 1 Comment

Carrying on with our discussion of customer-related activities in QuickBooks, this week we look at creating invoices.  You can’t really talk about invoices without also talking about items and how they work, so this lesson combines the two.  There is more info than will fit into one 20-minute lesson, so next week we will continue with items and invoices in more detail.

This post was written by Michael Debyah.

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