Certified Public Accountants, Pittsburgh, PA

Archived Newsletters and QuickBooks Tips

QuickBooks Shortcuts 

Do you enjoy using keyboard shortcuts? If so, here are numerous keyboard shortcuts that you can use while working with QuickBooks Desktop or Online to be more efficient.

QuickBooks Desktop Keyboard Shortcuts:

  • Ctrl+I – Create invoice
  • Ctrl+E – Edit transaction selected in register
  • Ctrl+F – Find transaction
  • Ctrl+J – Open Customer Center
  • Ctrl+M – Memorize transaction or report
  • Ctrl+N – New invoice, bill, check, or list item in context
  • Ctrl+Q – Quick report on transaction or list item
  • Ctrl+T – Open memorized transaction list
  • Ctrl+W – Write new check
  • Ctrl (while opening) – Start QuickBooks without a company file

Keyboard Shortcuts for QuickBooks Online

In Chrome or Firefox:

  • Ctrl+Alt+I   = Invoice
  • Ctrl+Alt+W = Write Checks
  • Ctrl+Alt+X = Enter Expense
  • Ctrl+Alt+R = Receive Payment
  • Ctrl+Alt+E = Write an estimate
  • Ctrl+Alt+L = Lists
  • Ctrl+Alt+A = Accounts
  • Ctrl+Alt+C = Customers
  • Ctrl+Alt+V = Vendors
  • Ctrl+Alt+F = Search transactions

 

On Transaction Pages (Invoice, expense, etc.)

  • Ctrl+Alt+D = Save & Close
  • Ctrl+Alt+S = Save & New
  • Ctrl+alt+M = Save  & Send
  • Ctrl+Alt+X = Exit transaction
  • Ctrl+Alt+C = Cancel

 

Display (make it larger or smaller):

 

  • Ctrl+ or Ctrl- (plus or minus or hold Control and scroll up or down with your mouse to zoom in or out)

Fix Unapplied Customer Payments and Credits 

Do you ever have an invoice that is paid but it is showing that a client owes you a payment or it was mistakenly applied incorrectly? Well QuickBooks has a feature to solve this issue. The feature is “Fix Unapplied Customer Payments and Credits”.

  • Within QuickBooks Desktop, go to “Company” along the top in the gray bar.
  • When the drop down appears, please select “Fix Unapplied Customer Payments and Credits” then a window will appear with all unapplied payments & open invoices.
  • Please match the payment to the bill/invoice & select “Apply”
  • After all unapplied payments and bills are correctly selected, please save this information.

This will help keep all customer balances current and have provide an accurate Accounts Receivable aging summary if you track your receivables.

If you have any trouble with QuickBooks and want professional training please do not hesitate to contact our office. 

QuickBooks Online vs. QuickBooks Desktop

The main advantage of QuickBooks Online compared to QuickBooks Desktop is that multiple users can access and work on the file at the same time. You are able to access QuickBooks Online using a PC, MAC, Smartphone or Tablet if you have an internet connection, unlike QuickBooks Desktop that is not portable. Our firm would be able to access your file for support at any time without obtaining an accountant’s copy that can sometimes restrict your access. 

The main difference between Online and Desktop is the presentation of the product. The format and access of menus is substantially different, but the functionality is the same.

The following versions of QuickBooks Online and their related function are currently available:

  1. QuickBooks Online Essentials Functions:
    1. Track income & expenses
    2. Capture & Organize Receipts
    3. Maximize tax deductions
    4. Invoice & Accept payments
    5. Basic financial reports
    6. Send Estimates
    7. Track Sales & Sales Tax
    8. Manage Bills
    9. Multiple User Accessibility (maximum of 3)
    10. Time Tracking
    11. Monthly fees beginning at $40/month prior to any discounts or promotions
    12. Optional Payroll Services
      1. Self Service: $18/month plus $4/employee
      2. Full Service: $40/month plus $4/employee
    13. QuickBooks Online Plus Functions – adds the following to the “Essentials” version:
      1. Specific Project Tracking (new feature)
      2. Inventory tracking
      3. Managing 1099 contractors
      4. Monthly fees beginning at $70/month prior to any discounts or promotions
    14. QuickBooks Online Advanced – adds the following to the “Plus” version:
      1. Smart reporting which is a management solution providing a higher-level view of financial performance (trends in performance, profitability, overall growth, etc.).
      2. Accelerated Invoicing
      3. Custom User Permissions
      4. Premium care with Priority Circle, this is a customer support manage with a single point of contact to assist small businesses with their technical issues.
      5. Monthly fees beginning at $150/month prior to any discounts or promotions

Quickbooks Account Reconciliation Tip 

Did you know you can use the “reconcile” feature on more than just bank accounts and credit card accounts? The reconcile feature can be used on a variety of balance sheet accounts including “clearing” accounts or loan payable accounts.

  1. Go to the reconciliation window within QuickBooks, and select the account you would like to reconcile.
  2. Enter the statement ending balance of the monthly loan statement.
  3. Add any interest expense to which was charged on the loan.
  4. In the reconciliation window, check off all the applied payments and interest. Once everything is reconciled to -0- difference and click “Finish”

This will help keep you up to date on making all transaction and having an accurate read on how much you owe on the loan or what your actual interest expense.

If you need assistance with the reconcile feature or any other QuickBooks issue, please do not hesitate to contact us.

To view previous QuickBooks tips of the month navigate to the link under the top menu bar under "Newsletters" titled "Archived Newsletters and QuickBooks Tips".

QuickBooks Advanced Search Tip

Have you ever tried looking for a transaction in QuickBooks and just could not find it? Try using the advanced search feature:

QuickBooks Online

In the search box click on the magnifying glass

Click on advanced search at the bottom of the box

Choose what you would like to search, use All Transactions if not sure (i.e. bills, checks)

Choose how you would like to search the transaction (i.e. by amount, name)

Fill in the corresponding information and search away

Desktop

Edit

Search

Choose what you would like to search, use All Results if not sure (i.e. bills, checks)

Choose how you would like to search the transaction amount (i.e. by amount, name)

Choose a Date Range if you would like to search by date