Outsource Quick Books | Outsource bookkeeping | Outsource Quickbooks work

Outsource 1040 | Outsource 1120 | Outsource 1065

2011-03-03T23:13:00.000-08:00

Do you need tax help this season?
Are you tired of working 16 hour days?
Trouble finding dependable help that's accurate?
Create more revenue.
Grow your business.
No staffing worries.
No more temp tax preparers, EVER.
Book keeping to tax returns at one place.
Hire a tax preparer online, On-Demand.
Reach us anytime 24 hours-a-day.

To sign-up visit http://cosmictax.com/

How to make an existing customer as a job for another existing customer in Quickbooks?

2011-01-11T01:31:00.000-08:00

How to make an existing customer as a job for another existing customer in Quick books 2011?

We can modify the existing customers as a "Job" of another existing customer along with the transactions recorded by using the option "Add/Edit Multiple List Entries".

To Do so :

Go to "Add/Edit Multiple List Entries" from the List menu, click on the "Customized columns" option in the right hand side of the screen and add the option "Job of:" to be displayed in the screen. Then select the respective "Customer" you want to modify in 'Name' column and choose the "Customer" name in the "Job of:" column to have the name as a job under another customer and click "Save Changes" option.

This is useful to do for more than one customer at a single shot and can be done for the vendor list too.

Contributed by Sumana

How to open Two Quick Books files at same time? | Two Quick books file can be opened at same time

2010-12-23T01:36:00.000-08:00

How to open Two Quick Books files at same time?:

In 2011 Quick Books version, we can open two QB files at a time. The first QB file will be opened as a “Primary QuickBooks” and second file as a “Secondary QuickBooks”. This new feature saves our time especially while working on the sister concern clients.

Contributed by Parthasarathi

How to handle Customer's Bounced check in Quickbooks | Handling Customer NSF check

2010-12-22T21:33:00.000-08:00

Handling Customer NSF check:

You need to take the monies out of your checking account and also put it back on the customer's account to show that they still owe you. The best way to handle it is as follows:

Create an Other Charge Item called Bounced Check or NSF. In the description field say something like "Your check # has been returned, please remit replacement payment immediately." For the Account enter your Checking account.
Now, Invoice the customer for the Item Bounced Check and enter in the check #, Invoice # and other information about the check. This takes the money out of your checking account and puts it back on the customer A/R
You can also create an Other Charge Item called NSF Fee and charge the customer for any service charge received from the bank. You can put this to your account for Bank Service Charges to offset what your bank charged you or to a Misc. Income account.
When you receive a replacement check from the customer, Receive Payment as usual and make your deposit.

Contributed by Sumathi

http://www.outsourcequickbooks.com/

How to know debit and credit of a transaction in Quick books?

2010-12-22T21:24:00.000-08:00

How to know debit and credit of a transaction in Quick books?

In any document or transaction if you press Control-Y it will, show the debits & credits behind the transaction.

Contributed by Sumathi

Enter dates in Quick books with single click | Short cut to enter date in Quickbooks

2010-12-22T21:00:00.000-08:00

Enter dates in Quick books with single click:

1. The shortcuts for the entering dates in QuickBooks.

· T Today’s Date

· + Next day

· - Previous day

· W First day of the week

· K Last day of the week

· M First day of the Month

· H Last day of the Month

· Y First day of the year

· R Last day of the year

· Alt+Down Arrow Date Calendar

Contributed by Sumathi.S

Favorites Menu | Quick Books Setup | Tips in Quick books

2010-12-22T20:57:00.000-08:00

1. Favorites Menu - Add any options which you use the most in QuickBooks to the Favorites Menu.

2. QuickBooks Setup – Add the people you do business with, Add the products & services you sell & add your bank accounts soon in a single window soon after you create the company file.

Contributed by Sumathi.S

New Reports in QuickBooks 2011 | New reports in Quickbooks 2011

2010-12-12T21:43:00.000-08:00

Average days to Pay:

This is a new report under “Customer & Receivables”. From this report, the user can find, on an average, how many days a customer takes to pay up an invoice. From this, vital information like the payment pattern of each customer and the ideal level of working capital for the company can be calculated.

Transaction List by customer based on “Ship to address”

New fields in the “Modify Report” option have been added in the reports for “Customers and Receivables”. Fields like “Ship to City”, “Ship to Address 1”, “Ship to Address 2” have been added to the dropdown columns. These fields can be selected and a report can be obtained to see how many customers have actually requested the goods to be shipped to a location different from the billing address. The user can also find out how much the company is spending on shipping and transport. (This is cases where no separate shipping charges are billed to the customer). The fields can be chosen by clicking on the “Modify Report” and the required fields can be ticked.

After the required fields are selected the report is displayed as follows:

Open Purchase Order Detail Report

In the earlier versions of QuickBooks, We only had “Open Purchase order” report and “Open Purchase order by Job”. But now in QuickBooks 2011, we have “Open Purchase Order Detail” report which gives us details about the portion of PO that is still open, backorders (partial cancellation), items that have actually been received against each purchase order , etc. This report gives all the details of a PO in one screen.

Contributed by Usha

Collection Center in Quickbooks 2011

2010-12-12T21:40:00.000-08:00

Another new feature in 2011 is the “Collection Center” in the customer center.

The collection center gives a quick overview of the unpaid invoices. This screen gives details of the total balance due from each customer and the details of each invoice due. The invoice can be accessed by just clicking on it. In the earlier versions of QuickBooks, if the user had to know the details of invoices due, he had to choose a report or sort the invoices by the “Balance details” field and locate each invoice. The novel feature of “Collection Center” addresses this problem.

Contributed by Usha

How to get Customer Aging Information in Quickbooks?

2010-12-12T21:37:00.000-08:00

Customer Aging Information:

QuickBooks 2011 allows the user to customize the columns in the customer center by adding the desired columns from the drop down list (by right clicking in the customer center). This feature can be best used to track the age of invoices without the having to go to the reports. In the earlier versions of QuickBooks, if the user desired to know for how long an invoice has been overdue, he had to go to the report center, chose “Customer Aging Summary” or “Customer Aging Detail” report and analyze. But with this new feature in QuickBooks 2011, the info is conveniently available at the customer center.

Contributed by Usha

Paid stamp with Date in Quickbooks premier 2011

2010-12-12T21:35:00.000-08:00

Paid stamp with Date:

When an invoice is paid in QuickBooks 2011, the payment date appears on the paid stamp on the invoice. This feature helps the user in getting payment information faster. He is saved of the task of navigating between screens or going to the transaction history.

Contributed by Usha

New provision for “Billed from” and “Shipped From” in the vendor of Quickbooks 2011

2010-12-12T21:33:00.000-08:00

New provision for “Billed from” and “Shipped From” in the vendor details screen

Unlike in the earlier versions of QuickBooks where there was only one provision for entering the address for a vendor, QuickBooks 2011 has provided for entering the “Billed From” address and the “Shipped From” address. This is especially useful where the vendor location is different from the Remit to address.

Contributed by Usha

Adjust Quantity/ Value on hand Screen in Quickbooks 2011

2010-12-12T21:31:00.000-08:00

In the earlier versions of QuickBooks, this screen used to list all the inventory items setup in the file. But in QuickBooks 2011, a new feature of selecting from the drop-down arrow has been added. This facilitates the user to choose only that inventory item that he desires to adjust without having to scroll through the complete item list.

Adjust Quantity/ Value

Contributed by Usha

How to Set closing date password for Quickbooks file

2010-12-12T21:29:00.000-08:00

Setting closing date password

While setting a closing date password in QuickBooks 2011, there is a new check box which says “Exclude estimates, sales orders and purchase orders from closing date restrictions”. This feature enables the user to modify any open sales orders, Purchase Orders or estimates even after the closing date without having to enter the closing password.

Closing date in Quickbooks

Contributed by Usha

QuickBooks Search -Quickbooks Tricks and tips

2010-12-08T04:11:00.000-08:00

QuickBooks Search - Lets users quickly locate any customer, account, report or invoice details within their QuickBooks repository with a simple keyword search.

Contributed by Sumathi.S - Cosmic IT services Pvt. Ltd

Tips and tricks in Quickbooks 2011 | Multi-Instance | Batch Invoicing in Quickbooks

2010-12-08T04:02:00.000-08:00

Multi-Instance (available in QuickBooks Accountant and Enterprise Solutions 2011.) - Allows users to work in two different company files at the same time.

Batch Invoicing - Lets small businesses owners who often bill many customers for the same service streamline the process by creating one template invoice to send to all related customers

Contributed by Sumathi.S - Cosmic IT services Pvt. Ltd

How to Reclassify Transactions in Quickbooks 2011 | Tips and Tricks in Quickbooks 2011

2010-12-08T03:55:00.000-08:00

Instead of opening each & every transaction to reclassify the account code, use “Reclassify Transactions” option under the “Client Data Review” feature to reclassify large number of transactions at a time.

Contributed by Sumathi.S - Cosmic IT services Pvt. Ltd

History of Quick books in India | Outsourcing opportunity with Quick books

2010-12-02T21:32:00.000-08:00

Quick Books, one of three flagship products offered by California-based Intuit, was originally patterned after personal accounting package Quicken. Intuit executives wanted to provide a package that would offer small business owners the flexibility of an easy-to-use software package and the structure and compliance required to run a profitable business.

At its launch in 1998, QuickBooks was very popular with business owners with no formal accounting background. Unfortunately, although the package was easy to use and offered significant benefit to its customers, many accounting professionals felt that it lack the security, audit trail and robustness really needed. These concerns were exacerbated because many business owners used QuickBooks, which quickly established an 80% market share, for day-to-day bookkeeping – but relied on professional accountants for month-end and year-end services.

Intuit sought to bridge this gap, and by 2000 the software included several of the missing features including audit trails, double entries and other accounting-industry compliant items. Next, Intuit began developing niche products: including those with basic or advanced features, as well as packages tailored to the needs of specific industries like contracting, retail, manufacturing and even not-for-profit. QuickBooks also leveraged the relationship between small business owners and accountants/bookkeepers by developing the Pro Series, which is specifically designed for accounting professionals who support multiple small business clients.

Today QuickBooks continues to hold a dominant share of the market. Far from an adversarial relationship with accounting professionals, Intuit now has a network over 50,000 CPAs, bookkeepers, and consultants who serve as Quick Books ProAdvisors. These professionals offer an array of services including QuickBooks training, technical support, consulting services, full-charge bookkeeping all targeted at the QuickBooks platform.

Now more than 80 to 90% of SME segment in USA/Canada uses quick books as their accounting package.

The story of Quick books started in in India way behind 2000 when cosmic IT services pvt. ltd. wish to explore business opportunity with US market in accounting and tax segment. Now they are the one of the leading service provider with ISO 9001:2008 tag from past 6 years and have their own workflow management system with the intention of making business segment in USA/Canada paperless and way to cut their cost by 50%.

They also provide training programme on Quick books while handling books of accounts of nearly 4000 end business owners in USA from their offshore center in India .

While exploring accounting opportunity they also offer Tax service to US market starting from basic return of 1040 till the complex shoe-box type of return in 1120,1065 to the US market.

Now the demand for keeping once books in tact in Quick books in mandatory over the IRS plan to start verifying the Quick books file of the tax return filed with them.

Outsource Quick Books | Outsource bookkeeping | Outsource Quickbooks work

Outsource 1040 | Outsource 1120 | Outsource 1065

Do you need tax help this season?

Are you tired of working 16 hour days?

Trouble finding dependable help that's accurate?

Create more revenue.

Grow your business.

No staffing worries.

No more temp tax preparers, EVER.

Book keeping to tax returns at one place.

Hire a tax preparer online, On-Demand.

Reach us anytime 24 hours-a-day.

To sign-up visit http://cosmictax.com/

How to make an existing customer as a job for another existing customer in Quickbooks?

How to open Two Quick Books files at same time? | Two Quick books file can be opened at same time

How to handle Customer's Bounced check in Quickbooks | Handling Customer NSF check

How to know debit and credit of a transaction in Quick books?

Enter dates in Quick books with single click | Short cut to enter date in Quickbooks

Favorites Menu | Quick Books Setup | Tips in Quick books

New Reports in QuickBooks 2011 | New reports in Quickbooks 2011

Collection Center in Quickbooks 2011

How to get Customer Aging Information in Quickbooks?

Paid stamp with Date in Quickbooks premier 2011

New provision for “Billed from” and “Shipped From” in the vendor of Quickbooks 2011

Adjust Quantity/ Value on hand Screen in Quickbooks 2011

How to Set closing date password for Quickbooks file

QuickBooks Search -Quickbooks Tricks and tips

Tips and tricks in Quickbooks 2011 | Multi-Instance | Batch Invoicing in Quickbooks

How to Reclassify Transactions in Quickbooks 2011 | Tips and Tricks in Quickbooks 2011

History of Quick books in India | Outsourcing opportunity with Quick books