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Thursday, December 17, 2009

Not sure what to do?

As a professional bookkeeper I have been using Quickbooks software for over 10 years, and have been certified by Intuit as a "Proadvisor".

Email me if you have a question on using Quickbooks for a particular entry or function. I will be happy to respond via email with an answer.

Here is an important piece of Quickbooks information...

Quickbooks software is called "real-time" software. What that means, in my own lay-men's terms is that what ever the record is at any given point that you look at it, that is what it has always been. In other words, if you wrote a check and dated it 10/15/09 that's what the date of the check would be. If you go back to that same check and change the date to 11/15/09 then that is what it is, and the 10/15/09 date will not show up anywhere. There are ways to look at things that have been changed but that can get confusing and complicated if you don't know what specifics to use.

To be safe just think of it as being a permanent change that wipes out whatever you did before. One of the ways this really comes into play is in the bank reconciliation feature. Once you have completed the monthly bank reconciliation process in Quickbooks, if you change the date, delete or change the amount of a reconciled transaction you will find the following month that your balance will no longer match the bank statement.

If it is important to have a record of the change that you can see in Quickbooks use the "Make Journal Entry" feature to make your correction. This way you will be able to see the original transaction as well as the correction you made.

The positive think about the real-time feature in Quickbooks is that most items can be corrected as easily as they may have been "messed up".

Email me if you have a question about something that you might think is "messed up" in your quickbooks file.

This material is for informational purposes only and not intended and financial, legal or tax advice. Please consult your finance, legal or tax professional to confirm the accuracy of all information.

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