5 Tips for Using QuickBooks Efficiently
#1 – Make Sure You Are Working With the Version of QuickBooks that Is Best-Suited to Your BusinessPublished by software giant Intuit, QuickBooks offers different versions for different business types that can either be purchased outright for a one-time fee or for a monthly subscription fee. QuickBooks is also available in both Word and Mac. When selecting which product will work for you, it’s important that you evaluate the different features of each and choose the one that will do everything you need but not a ton of stuff that you don’t. Because you don’t want to pay for features that are not relevant to your business. For example, if you don’t manage an inventory and have no need to issue 1099’s, then the Plus version of QuickBooks Online probably isn’t your best option. It’s worth noting as well that even if you start with a lower-end version of QuickBooks, you do have the ability to transfer data to any of the higher versions as your business grows. The current QuickBooks product line includes: QuickBooks Self-Employed – best for independent contractors and freelancers to aid in tracking revenues, expenses and managing quarterly taxes. QuickBooks Online – It should be no surprise that the fastest-growing product line is QuickBooks Online, which offers 3 options:
- Simple Start – a good option for first-time small business users and start-ups
- Essentials (Access for 3 users)
- Plus (Access for 5 users)
#2 – Know and Use QuickBooks Keyboard ShortcutsYou can save time every day by cutting down on keystrokes – something that applies to any software program you use! Within QuickBooks, here are the most useful keyboard shortcuts: Ctrl+O – Copy check transaction in register Ctrl+I – Create Invoice Ctrl+D – Delete check, invoice, transaction, or item from list Ctrl+E – Edit transaction selected in register Ctrl+H – History of A/R or A/P transaction Ctrl+Q – QuickReport on transaction or list item Ctrl+M – Memorize transaction or report Ctrl+N – New invoice, bill, check or list item in context Ctrl+T – Open memorized transaction list Ctrl+W – Write new check Ctrl+F – Find transaction Ctrl+J – Open Customer Center Ctrl+Z – Undo changes made in field Alt+S – Save transaction Alt+N – Save Transaction and go to next transaction
#3 – Use the “QuickMath” Calculator Inside FieldsYou may have used the QuickBooks calculator under the Use Calculator option, but did you know that QuickBooks also has a “QuickMath Calculator? This handy features lets you click inside a field such as the amount field on an invoice. With that area selected, press the = key and a mini-tape will appear, allowing you to use the calculator directly in the field to do your calcuations and come up with the amount that is to be entered in that field.
#4 – Take Advantage of the QuickBooks Right-Click MenusYou can also save time within QuickBooks by using the right-click menus. You can do this within the activity window for common QuickBooks tasks. For example, in a register, you can right-click a specific transaction and that will display a shortcut menu that will allow you to memorize or void it, or create a QuickReport. In a list, you can right-click a specific item. QuickBooks is set up with helpful right-click menus that will display the most common commands related to each task. Using these will save you time as you perform these QuickBooks tasks.
#5 – Reduce Errors and Work More Efficiently by Customizing Your QuickBooks Icon BarTo make your QuickBooks navigation more streamlined, you can customize the icon bar so that it displays only the functions necessary to your business and excludes any others. Doing so will also cut down on errors that result from inadvertently clicking on an incorrect function.
To Remove, Add or Modify an Icon, follow these steps:
- Go to the “View” menu
- Click Customize Icon Bar
- Select the icon you want to modify and make the desired change by clicking either Delete, Add or Edit
- If you are adding a feature or report, you have the option to select an icon for the feature (QuickBooks preselects one but you can change it).
- If you are adding an icon, you will enter into the Label Field the text that you want to appear below the icon.
- Click OK once you have completed the change.
- Proceed to next icon and follow the same steps until your Icon Bar is fully modified.
- Start the task that you would like added to the Icon Bar (such as Make a General Journal Entry)
- Under the View menu bar for that task, choose to add it (Ex: Add “Make General Journal Entries” to the Icon Bar
To Reorder Icons on the Icon Bar:
- Go to the View menu
- Click Customize Icon Bar
- From the Icon Bar Content list, locate the icon you want to move. Drag the grey diamond that appears to the left of the icon name to the location on the list where you want it to appear.
- Click OK to complete the change.
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