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The evolution of tech tools for business are essential to continued innovation, growth, and efficiency. Intuit continues to pursue better software and tools for its customers based on this overarching reality.
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Suite Tigard, OR You can prevent your essential add-on services from becoming obsolete by upgrading to QuickBooks Desktop If you continue to use QuickBooks , Intuit live technical support will no longer be able to provide support to you if an issue arises within your product or data file.
If you are using 3rd party applications that integrate with your QuickBooks, it is highly recommended that you upgrade. This is due to the fact that providers require Intuit support and development to sustain compatibility with QuickBooks products. The evolution of tech tools for business are essential to continued innovation, growth, and efficiency. Intuit continues to pursue better software and tools for its customers based on this overarching reality.
If you need to upgrade, you can find the best deals on QuickBooks products at our online store. You must be logged in to post a comment. Talk with an Expert. Year End Checklist Download. Need Help? Phone: Find an Advisor. It lets up to three people work on a company file at a time and includes features for tasks such as invoicing; entering and paying bills; job costing; creating estimates; saving and distributing reports and forms as email attachments; creating budgets; projecting cash flow; tracking mileage; customizing forms; customizing prices with price levels; printing shipping labels; and integrating with Word, Excel, and hundreds of other programs.
Other lists, like the chart of accounts, can have up to 10, entries each. QuickBooks Pro Plus is a subscription product that costs a little more than the one-time license fee you pay for QuickBooks Pro, but QuickBooks Pro Plus offers mobile access, unlimited phone support, online backups, and always-up-to-date software.
Similarly, QuickBooks Premier Plus is the premier version of the subscription product. QuickBooks Premier is another multi-user edition up to five simultaneous users. It can handle inventory items assembled from other items and components, generate purchase orders from sales orders and estimates, apply price levels to individual items, export report templates, produce budgets and forecasts, and work with different units of measure for items.
Plus, it offers enhanced invoicing for time and expenses, and includes a few extra features like reversing journal entries. When you purchase QuickBooks Premier, you can choose from six different industry-specific flavors see the next section.
Like the Pro edition, Premier can handle a combined total of up to 14, name list entries. Enterprise Solutions is the edition for midsized operations. Up to 30 people can access a company file at the same time, and this simultaneous access is at least twice as fast as in the Pro or Premier edition. It can track inventory in multiple warehouses or stores and produce combined reports for those companies and locations.
And because more people can use your company file at once, this edition has features such as an enhanced audit trail, more options for assigning or limiting user permissions, and the ability to delegate administrative functions to the other people using the program. Your local office supply store, Amazon, and any number of other retail outlets usually offer the program at a discount. If you buy QuickBooks from Intuit, you pay full price, but you also have 60 days to return the program for a full refund.
If you work in one of the industries covered by QuickBooks Premier, you can get additional features unique to your industry. When you install QuickBooks Premier, you choose the industry version you want to run. If your business is in an industry other than one of the five options, choose General Business. It lets you run any QuickBooks edition Pro or any of the Premier versions.
The General Business edition has Premier goodies like per-item price levels, sales orders, and so on. It also has sales and expense forecasting, the Inventory Center, more built-in reports than QuickBooks Pro, and a business plan feature.
Its chart of accounts and menus are customized for manufacturing and wholesale operations. You can use it to manage inventory assembled from components and to track customer return merchandise authorizations RMAs and damaged goods. If you run a nonprofit organization, you know that several things work differently in the nonprofit world, as the box on Accounting Basics: The Important Stuff details. The Nonprofit edition of QuickBooks includes features such as a chart of accounts customized for nonprofits, forms and letters targeted to donors and pledges, info about using the program for nonprofits, and the ability to generate Statement of Functional Expenses forms.
The Professional Services edition not to be confused with QuickBooks Pro is designed for companies that deliver services to their clients. Unique features include project-costing reports, templates for proposals and invoices, billing rates that you can customize by client or employee, and professional service—specific reports and help. The Retail edition is customized for retail businesses. It includes specialized menus, reports, forms, and help, as well as a custom chart of accounts.
Intuit offers companion products that you can integrate with this edition to support all aspects of your retail operation. As long as funding comes primarily from unrestricted sources, the Pro edition will work reasonably well.
In that case, QuickBooks Premier Nonprofit might be a real timesaver. Double-entry accounting is the standard method for tracking where your money comes from and where it goes. For example, as shown in Table 1 , when you sell something to a customer, the money on your invoice comes in as income and goes into your Accounts Receivable account. Then, when you deposit the payment, the money comes out of the Accounts Receivable account and goes into your checking account.
See Chapter 16 for more about double-entry accounting and journal entries. Each side of a double-entry transaction is either a debit or a credit. As you can see in Table 1 , when you sell products or services, you credit your income account since your income increases when you sell something , but debit the Accounts Receivable account because selling something also increases how much customers owe you.
Chart of accounts. In bookkeeping, an account is a place to store money, just like your real-world checking account is a place to store your ready cash. The difference is that you need an account for each kind of income, expense, asset, and liability you have. See Chapter 3 to learn about all the different types of accounts you might use.
Cash vs. Cash and accrual are the two different ways companies can document how much they make and spend. The accrual method, on the other hand, follows something known as the matching principle , which matches revenue with the corresponding expenses. This approach keeps income and expenses linked to the period in which they happened, no matter when cash comes in or goes out. The advantage of this method is that it provides a better picture of profitability because income and its corresponding expenses appear in the same period.
For example, if you pay employees in January for work they did in December, those wages are part of the previous fiscal year. Financial reports. This QuickBooks report gets its name from the difference between income and expenses, which results in your profit or loss for that period.
The balance sheet The Balance Sheet is a snapshot of how much you own and how much you owe. Assets are things you own that have value, such as buildings, equipment, and brand names.
Liabilities are the money you owe to others like money you borrowed to buy one of your assets, say. The difference between your assets and liabilities is the equity in the company—like the equity you have in your house when the house is worth more than you owe on the mortgage. The statement of cash flows The Statement of Cash Flows tells you how much hard cash you have. You might think that a profit and loss report would tell you that, but noncash transactions—such as depreciation—prevent it from doing so.
But if bookkeeping and accounting are unfamiliar territory, some background training may help you use QuickBooks better and more easily without calling your accountant for help five times a day. To contact the school, visit www. QuickBooks Help provides a healthy dose of accounting background and troubleshooting tips.
This book provides lots of real-world examples, and you can search for topics in its index. This book applies to the U. Windows version of QuickBooks Pro and Premier. Versions for other countries differ from the U. After that, go ahead and jump from topic to topic depending on the bookkeeping task at hand. All the features in QuickBooks Pro—and in this book—are also in Premier. To keep you productive, this book evaluates features to help you figure out which ones are most useful and when to use them.
QuickBooks The Missing Manual is designed to accommodate readers at every technical level. The primary discussions are written for people with beginner or intermediate QuickBooks skills. These chapters cover creating a company file and setting up accounts, customers, jobs, vendors, invoice items, and other lists.
These chapters describe how to track time and expenses, pay for things you buy, bill customers, manage the money that customers owe you, pay for expenses, manage your bank accounts, and perform other bookkeeping tasks. Part 3 delves into the features that can help you make your company a success—or even more successful than it already is. These chapters explain how to keep track of the financial tasks you need to perform, manage QuickBooks files, keep your inventory at just the right level, work with sales tax, build budgets, and use QuickBooks reports to evaluate every aspect of your enterprise.
Part 4 helps you take your copy of the program to the next level. Part 5 provides a guide to installing and upgrading QuickBooks and a reference to helpful resources.
To use this book and QuickBooks , you need to know a few basics. To click means to point your cursor the arrow pointer at something on the screen and then—without moving the cursor—press and release the left button on the mouse or laptop trackpad.
To right-click means the same thing, but you press the right mouse button instead. Clicking usually selects an onscreen element or presses an onscreen button, whereas right-clicking typically reveals a shortcut menu , which lists some common tasks specific to whatever you right-clicked.
To double-click means to click the left button twice in rapid succession, without moving the pointer. And to drag means to move the cursor while holding down the left mouse button the entire time. Related procedures, like Ctrl-clicking , work the same way—just click while pressing the specified key.
The menus are the words at the top of your screen: File, Edit, and so on. Some people click to open a menu and then release the mouse button; after reading the menu choices, they click the option they want.
Other people like to press the mouse button continuously as they click the menu title and drag down the list to the desired command; only then do they release the mouse button.
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