QuickBooks For Dummies Cheat Sheet (Australian Edition) - dummies
Cheat Sheet

QuickBooks For Dummies Cheat Sheet (Australian Edition)

You can use a range of data-entry tips and keyboard shortcuts to work smarter and faster in QuickBooks. These tips, shortcuts and handy reminders ensure you spend less time bookkeeping and more time managing your business activities.

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!

QuickBooks Key or Keystroke Combination Shortcut Result
Ctrl-A Opens your Chart of Accounts
Ctrl-F Finds transactions, by amount, date, memo or name
Ctrl-G Takes you to a transfer account’s register
Ctrl-H Displays the history of any accounts receivable or payable
Ctrl-I Takes you to the Create Invoice window
Ctrl-J Opens the Customer Centre
Ctrl-L Opens a drop-down menu’s list
Ctrl-M Memorises the current transaction or report
Ctrl-N Creates a new transaction for the active window
Ctrl-P Prints an on-screen form or register
Ctrl-Q Produces a QuickReport for a transaction or item
Ctrl-R Displays the account register
Ctrl-T Opens a memorised transaction list
Ctrl-U Uses a list item (try Ctrl-L and Ctrl-U together for a super
Ctrl-W Takes you to Write Cheques (where you record all types of
Ctrl-Y Opens an account’s transactional journal
Ctrl-F4 Closes the active window
F1 Opens help for active window
F2 Displays info about your current QuickBooks version
Right-click Shows a list of nifty commands relevant to wherever you are in

Speed Dating in QuickBooks

Typing dates is fiddly, so why not take an easier route with financial recordkeeping? In QuickBooks, instead of typing in a date you can use these shortcuts:

Keystroke Shortcut Result
+ Next day
Previous day
T Today
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-↓ Date calendar

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:

Keystroke Combination Shortcut Result
Ctrl-C Copies your selection to the Clipboard
Ctrl-D Deletes current transaction or item (if allowed)
Ctrl-E Opens transaction selected in register, ready for editing
Ctrl-V Pastes whatever is currently sitting in your Clipboard
Ctrl-X Moves your selection to the Clipboard
Ctrl-Z Undoes your last action (with the current field only)
Ctrl-Del Deletes line from detail area
Ctrl-Ins Inserts line in detail area
Ctrl-Enter Records the current transaction

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:

Keystrokes Result
Alt+B+I Goes to the Banking menu, followed by Import Bank
Alt+C+T Goes to the Company menu, followed by the To Do List

You can also combine (press together) the Alt key with a few other keyboard tricks to fly around QuickBooks at a rate of knots. For example:

Keystroke combination Destination
Alt-Tab Next field
Alt-Shift-Tab Previous field
Alt-Home Beginning of current field
Alt-End End of current month
Alt-Ctrl-Page Up First item on list or previous month in register
Alt-Ctrl-Page Down Last item on list or next month in register

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 easy at night, knowing that your accounts are in top-top shape.

  • Make a backup every time your work in QuickBooks, then store the backup offsite.

  • Always reconcile every back account at least once a month.

  • Chase all debts as soon as they reach 30 days or are overdue.

  • Click the Audit Company button at least once a month and work through all four steps.

  • If you’re not sure where to allocate a transaction, don’t guess — ask your accountant.

  • Learn how to reconcile your GST liability accounts (relevant in Australia) and do this every time you pay your Business Activity Statement.

  • Reconcile all payroll liability accounts.

  • Every month, scan transaction reports for weird stuff or mistakes.

  • Print a Balance Sheet for the current date and a Profit & Loss for the year so far, then check that both reports make sense.

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:

Payment or report Due Date
Business Activity Statements Monthly payments: 21 days after the end of each month
Quarterly payments: 28 days after the end of each quarter (except
for the December quarter, where the deadline is 28 February)
Payment summaries 14 July
Annual withholding declaration 14 August
Superannuation 28 days after the end of each month or quarter, depending on
the superannuation fund
PAYG withholding tax Monthly payments: 21 days after the end of the month
Quarterly payments: 28 days after the end of the quarter