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Comparing Budgets with Actual Results in QuickBooks 2011

After you record your budget in QuickBooks, you can compare your actual financial results to budgeted amounts by choosing commands from the Budgets & Forecasts submenu. When you choose Reports→Budgets [more…]

Understanding Traditional Overhead Allocation on an Income Statement

The problem in many businesses using traditional overhead allocation is that their overhead expenses or operating expenses don't cleanly tie to products or services. Without good allocation of overhead [more…]

How to Turn on Class Tracking in QuickBooks 2011

QuickBooks 2011 lets you use classes to segregate or track financial data in ways that aren't possible by using other bits of accounting information, such as the account number, the customer, the sales [more…]

How to Use Classes for Activity-Based Costing in QuickBooks 2011

You set up a class in QuickBooks for each product or service for which you want to measure profitability. For example, if you had a hot dog stand business, you would set up two classes in QuickBooks: one [more…]

How to Use Job Estimates in QuickBooks 2011

If you've told QuickBooks 2011 that you want to create estimates — you do this during the QuickBooks setup — you can create job estimates of amounts you later invoice. To create a job estimate, choose [more…]

How to Create an Invoice from an Estimate in QuickBooks 2011

Progress billing occurs when you actually invoice, or bill, a customer for a portion of an amount that you've previously estimated. For example, take a peek at the Create Estimates window in QuickBooks [more…]

Understanding Economic Value Added in Business

Economic Value Added (EVA) analysis measures how profitable it truly is to run a business instead of selling it. It states in a formula something you already know in your gut: If you're a business owner [more…]

Examining Liquidity and an Investment's Payback Period

For many smaller businesses, liquidity is important. You can make only a limited number of investments. Additionally, you have a limited amount of capital — less than you like, almost always. New opportunities [more…]

How to Use QuickBooks Data for Profit-Volume-Cost Analysis

You need three items of data in order to perform profit-volume-cost analysis in QuickBooks 2011: sales revenue, gross margin percentage, and fixed cost. Typically, these items of data aren't difficult [more…]

How to Change User Permissions in QuickBooks 2011

After you've set someone up as a QuickBooks user, you can go back and modify the access permissions that you assigned to him. To do this, choose the Company menu's Set Up Users command to display the User [more…]

How to Set Up Simultaneous Multi-User Access in QuickBooks 2011

Sometimes, you need only a single computer and a single copy of QuickBooks even though you have several employees using it. However, QuickBooks does allow for simultaneous use of the QuickBooks data file [more…]

How to Maintain Good Accounting Controls with QuickBooks 2011

Many businesses, after they grow to a certain size, need to support multiple QuickBooks users with access to accounting information and the capability, in some cases, to create accounting transactions. [more…]

How to Back Up Your QuickBooks 2011 Data File

A critically important task that either you or some co-worker needs to complete is to back up the QuickBooks data file. Few items stored on your computer's hard drive deserve as much caretaking as the [more…]

How to Restore a Data File in QuickBooks 2011

If you find that the working copy of your QuickBooks 2011 data file becomes corrupted or gets destroyed, you need to restore the QuickBooks data file so you can again begin using QuickBooks. Restoring [more…]

Choosing a Cleanup and Archive Strategy with QuickBooks 2011

Deciding when and how you want to clean up or archive your QuickBooks 2011 company file is mostly a matter of common sense. Your first consideration should be whether you need to condense the company file [more…]

How to Use Intuit's Product Support System to Troubleshoot QuickBooks 2011

People not only want specific, step-by-step information about how to use QuickBooks 2011; they also want troubleshooting advice. They want techniques and tactics that they can use to solve the inevitable [more…]

How to Clean Up Company Files in QuickBooks 2011

When you clean up the QuickBooks company file, QuickBooks saves an archival copy of that file. The process also makes the data file smaller by removing and summarizing many old detail transactions using [more…]

How to Set Up Additional Users in QuickBooks 2011

QuickBooks 2011 allows you to give access to several QuickBooks users. What's more, you can tell QuickBooks to limit certain users to do only certain things. This sounds complicated, but it's really not [more…]

How to Add Items to Your QuickBooks 2011 Item List

You can add a bunch of different types of items to the Item list in QuickBooks 2011. Remember that the QuickBooks Item list stores descriptions of anything that you stick on an invoice or purchase order [more…]

How to Set Up the Chart of Accounts List in QuickBooks 2011

QuickBooks' Chart of Accounts List is a list of accounts that you use to categorize your income, expense, assets, liabilities, and owner's equity amounts. If you want to see a particular line item of financial [more…]

Editing Tricks in QuickBooks

You can copy, delete, move or undo text in QuickBooks as you would in any word processor. Here are some shortcuts for your financial recordkeeping: [more…]

Using the ALT Key in QuickBooks

Every command in QuickBooks includes an underlined letter. To execute these commands, just press the Alt key, followed by each relevant letter. Here's an example: [more…]

Your QuickBooks Health Check

Doing your books in QuickBooks isn’t simply about getting the job done quickly. You also want to ensure that your business information is accurate and safe. This QuickBooks checklist helps you to sleep [more…]

Important QuickBooks Deadlines

Forget birthdays, anniversaries and Christmas. Instead, punctuate your diary with a list of QuickBooks deadlines relevant to your Australian business. Here are some important ones to start out with: [more…]

Everyday Shortcuts in QuickBooks

If you can type, then using keyboard shortcuts in QuickBooks works much faster toying with a mouse. Simply press the Ctrl key on your PC, together with one of these letters or symbols, and off you go! [more…]

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