This entry was posted on Monday, November 16th, 2009 at 12:37 am and is filed under QuickBooks, QuickBooks advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Most people that use QuickBooks for small business accounting needs have very little or no experience as an accountant. That is what makes QuickBooks the big seller that it is today. But your lack of experience can cause you to make mistakes in your QuickBooks entries and not even realize it. Finding information on QuickBooks is easy but you may not find the information that will help you find your mistakes. You can periodically look for these errors and correct them. Fixing your errors from time to time will give you less of a headache at the end of the year when you have to do taxes.
Here are some tips for finding those errors in QuickBooks.
Update your Federal and State Tax information. This is a common mistake to use the information that was put in last year. Keep up with the changing tax tables.
Simplify the chart of accounts. To keep the chart of accounts simple you will reduce the chance of errors like duplication.
Make a backup of your QuickBooks data. It is best to do regular backups of your QuickBooks files. If you make a mistake you can correct it by using the backup file.
Set a schedule to check the accounts payable aging summary report. Don’t let bills due sit in the accounts payable, stay on top of what you have to pay and pay your bills on time.
