Can I change the default A/R or A/P account in QuickBooks Online QuickBooks Help QuickBooks Online (QBO) is not designed to work with multiple Accounts Receivable (AR) and Accounts Payable (AP) accounts. The initial AR and AP accounts, or those selected during conversion, will be the default accounts. We encourage our customers to merge their… Continue reading Can I change the default A/R or A/P account in QuickBooks Online
Year-end is quickly approaching. Be prepared for the year-end. Here is a 10-point checklist you should go through to keep your QuickBooks Online accounts in order and plan for the year-end processing. Helpful Checklist: Bank Reconciliations Make sure all bank reconciliations are up to date. This includes credit card accounts as well. Review any… Continue reading Preparing for year-end: Hints and Tips for QuickBooks Online (QBO) users
Case: A customer bought $105.00 worth of product and paid $80.00 in cash. You need to send an invoice to the customer for the balance. How would you handle this in QBO? First, create a new invoice using product/service item code for $105.00. Use deposit field to post $80.00 as the prepayment on that invoice.… Continue reading How to handle a partial payment when creating an invoice in QBO?
With QuickBooks Online (QBO) multi-currency, you can track transactions in more than one currency. Multicurrency affects many accounts and balances in company file and the preference can’t be turned off once it’s been turned on. Important: Since you cannot really back up company file (with all the features and the settings) in QBO at this… Continue reading QuickBooks Multicurrency in QuickBooks Online US
You have two ways to handle this issue in QBO: Manual Setting Automatic Setting (auto-mode) You will need to select the one which is right for your business situation. When you create a new company file in QBO, normally this auto-mode is already ON as a default setting. Manual method is commonly used when you… Continue reading #QuickBooks Online #QBO – How to handle zero balances in accounts receivable aging