Common QuickBooks Accounting Mistakes & Fixes.
QuickBooks is surely used by numerous businesses but the real fact is that very few of them exactly knows how to use the program correctly. If the user knows all the correct methods to enter the transactions and has gone through the training manual then this application is very easy to use.
Well, No Issue! As many of the clients have learned to use the software by trial and error.
Mainly the issue occurs because recorded checks and the client written checks look exactly the same and an invoice can be easily generated and sent, resulting the clients think that they are generating accurate accounting records.
Basically, these users lack the knowledge about accounting and analytical skills to ensure the
accuracy of the financial statements.
The article will guide you through-
1. Identify the data types and the other initial considerations that a user should keep in mind.
2. Explore the common mistakes and the symptoms causing that.
3. Check if the mistakes occurred or not and also their impact on the accounting records.
4. Find the fixes and alternatives to fix the errors.
5. Learn ways to avoid mistakes in the future.
Accessing Your Client’s Data File as an External Account User.
The accountant’s copy is the best way to document the changes you make to the client’s QuickBooks file.
If you are using the Accountant’s Copy feature in QuickBooks Premier: Accountant 2011, the changes will be documented and tracked for you and the client.
Therefore the client will get the opportunity to accept or reject it when they are provided with the accountant’s copy and to merge the changes into their existing data file, and can also print the changes.
Make sure that the client does not cancel the Accountant’s copy or restore the data file. If another copy is generated then the changes you made will not be recorded as the file is serialized and it only accepts and allows the changes from the last Accountant’s copy file generated.
But there is a limitation for the External Accountant users and that is that they are unable to Add, Edit or Delete the Existing users of QuickBooks File and are not able to view the customer’s credit card information.
Administer has the authority to choose the roles of the External Accountant in QuickBooks Pro, Premier, and Enterprise.
Steps to set up an External Accountant User (Administrator’s settings )
1. Select MENU from the company menu.
2. Go to Set Up Users and Roles.
3. Click on New.
4. Register the username and the password.
5. Set the External Accountant’s Access.
6. Click on ADD and press OK.
For any Help or Technical Support contact QuickBooks Technical Support at QuickBooks Support Phone Number – Toll-Free- 1800-470-6903