Dustin Wheeler

Dustin Wheeler
Dustin is a technology-driven CPA in Orem, Utah.

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The QuickBooks shortcut every accountant should know

Like many accountants, my mind thinks in debits and credits.*  As a double entry accounting system, QuickBooks works in debits and credits, though it does a good job hiding it from non-accountant users with its use of items and user-friendly input screens such as a “write checks” window that looks like a paper check.  Below is an example of an invoice entry screen.  I might have a good guess about the debits and credits working behind the scenes of this …

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Social media fields in the QuickBooks 2012 Lead Center

I have been experimenting with the new features of QuickBooks 2012 and was pleasantly surprised when I noticed that the new Lead Center contains optional contact information fields for LinkedIn, Facebook, Twitter and Skype.

Apparently, Intuit has recognized the value of these social media tools for marketing and added them as a means for QuickBooks users to connect with prospective customers.  It is cool to see accounting software become a little more social.

Are Bank Import Features Driving Reconciliations to Extinction?

I guess I’m an “old school” guy when it comes to accounting for my personal finances. I enter transactions into QuickBooks in real time.  Whenever I write a check or pay a bill online, they immediately go into QuickBooks.  I save all of my receipts, put them in a folder, and enter them in batches at least once a week.  These are important processes for me because I am always aware of the amount of cash I have available despite …

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A Refund from my Overfunded Escrow Account

Image via Wikipedia

As I wrote in an earlier post, I use QuickBooks to organize my household finances.  Like every good accountant, I am detail oriented and keep meticulous records.  I keep every receipt, reconcile each of my accounts monthly, and split the expense categorization of grocery bills between food, cleaning and baby products (OK, just kidding on the last one).

One transaction that I do split out every month is my mortgage payment.  My mortgage payments are made up of three …

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Customizing the Icon Bar in QuickBooks to Work for You

Do you use the icon bar at the top of your QuickBooks screen?  Do the icons represent the tasks you perform most often in QuickBooks?  If you’re using the default icons, the answer is probably no.

I recently began changing the icons to my most frequently used functions.  It makes a big difference in efficiency when the shortcuts are just a click away rather than three or four clicks away navigating the menus.

Before

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Accounting for Credit Card Transactions in QuickBooks: What May Seem Easier is Harder

I have observed people using two methods of handling credit card accounts in QuickBooks:

Recording individual credit card charges in a liability account (set up in the chart of accounts as the Credit Card type). Payments decrease the liability balance.
Recording only the payments for the credit card and allocating the charges among many different expense categories (using splits in the write checks screen as shown below). No liability account exists for the credit card.

On rare occasions, I have seen …

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Five QuickBooks Preferences That Could Make Your Life Easier

With one click of a mouse button, I’ve been able to help some clients be more efficient in their use of QuickBooks.  It’s worth taking the time to look through the preferences in QuickBooks and adjust them to your liking.  Below are my top five QuickBooks preferences that you should know about!

Turn off pop-up messages for products and services (under General – My Preferences) – This is new in QuickBooks 2010 R5.  If you’re new to QuickBooks and want to …

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Why I Cringe When I See “Reconciliation Discrepancies” in QuickBooks

You’re near the end of a long and busy day, reconciling your bank account in QuickBooks.  You’ve checked off every deposit and check from the bank statement and thought you were done, but the bottom right corner of the reconciliation screen says “Difference: $20.00.”

You need to hurry to make it to a dinner appointment, so you click on the “reconcile now” button anyway, and the following box appears:

QuickBooks Reconciliation Discrepancy

You’ve cleared dozens of transactions totaling several thousand dollars, so …

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One Idea for Learning QuickBooks Better

Sometimes, business owners, accountants, and bookkeepers have asked me the simple question, “How can I learn QuickBooks better?”  A satisfactory answer to their simple question can be complicated, however.  My response is that it depends on how the person best learns.  I suggest that attending training seminars might work best for some.  For others, reading the manual could be helpful.  The follow-up question I am asked is usually, “well, how did you learn it?”

My interaction with QuickBooks early in my …

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Using Excel Macros to Manipulate QuickBooks Reports

Since I began working in accounting, I have observed some fellow accountants exporting data from accounting software programs to Excel and then performing repetitive tasks of reformatting the spreadsheet (moving data to other cells, entering calculated fields, changing fonts, resizing columns, etc).  This has provided me with the opportunity to use and share a valuable skill I learned in one of my classes in college so that these tasks can be completed automatically with the push of a button.

One of …

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