We have provided the answers to some common
questions about QuickBooks we hope they are of help.
If you would like some help with QuickBooks or your
Accounting generally then contact us for a free no obligation quotation.
How much is a days
training on QuickBooks ?
How do I change
the VAT rate in Quickbooks ?
Budget November
2008 Quickbooks VAT Rate change from 17.5% to 15%
Quickbooks VAT
Rate Change 15% from 1 December 2008
I am thinking of computerising my Accounts which software
should I choose ?
Which version of
QuickBooks should I choose ?
Do you sell QuickBooks ?
Can you help me with the set up and training of
QuickBooks
?
Is
QuickBooks right for my business ?
Can I use more than one Company on
QuickBooks ?
Is QuickBooks Multi-currency ?
Can I put my stock on
QuickBooks ?
How do I handle VAT Returns in
QuickBooks ?
How do I reconcile my Bank Accounts in
QuickBooks ?
How do I transfer data to excel in
QuickBooks ?
What is the Audit trail in
QuickBooks ?
Can someone set up
QuickBooks for my business ?
I am thinking of computerising my Accounts which software
should I choose ?
How
much is a days training on QuickBooks ?
If you are based in Bedfordshire,
Buckinghamshire or Hertfordshire the cost is currently £350 plus VAT for a
days training, this is at your premises on a one to one basis with a
qualified Accountant, the training is personalized for your business - not a
fixed agenda so we can tailor it to your individual needs. We pride
ourselves on a personal service - which is quite difficult to find now a
days. If you are outside of the above areas, don't worry we may still be able
to help you but you may have to pay additional costs for travel expenses.
Just give Martyn a call or fill in the contact form for more details.
VAT Rate Change
17.5% to 15% from 1 December 2008
In the Pre-Budget today 24 November 2008 a
change in the VAT Rate was announced with affect from 1 December 2008. If
you use Quickbooks how do you handle the change in VAT Rates ?
There are two basic ways, both have their
advantages and disadvantages.
1. One Way
You can wait until you have raised all
your Sales Invoices for November, posted all your purchase Invoices and Bank
payments for November and then change the Standard VAT Code S in Quickbooks
from 17.5 % to 15%. You do this by going to
Lists> VAT Code Lists> and highlight and
double click on the Standard S Rate code and simply put in 15% instead of
17.5% and click ok.
Advantages - This will mean you will not
have to change any items or previous transactions which use the S VAT Code
whenever you use this from 1 December it will show the correct new Standard
VAT Rate code.
Disadvantages - You will have to wait
until after you have processed all your November transactions then do it ,
and ensure you are fully up to date before processing anything with the new
VAT Rate.
2. Another Way !
You can simply set up a new VAT Code now
at 15% alongside the existing one, go to Lists> VAT code Lists, Click VAT
Code and new give a new vat code such as A and type 15% and ok.
Advantages - You can use this now and use
both the old and new VAT codes at the same time, useful if you are used to
the " date sensitive" nature of Quickbooks, you can start raising new sales
invoices with the new 15% VAT code whilst also recording old purchase
invoices and payments at the old rate of 17.5%.
Disadvantages - You will have to remember
to change any items that use S to A ( or whatever you call your new 15% VAT
Rate code) as otherwise you will continue to raise Sales invoices etc at the
old rate in error.
We provide full Support for our clients,
if you would like to sign up as a Mobile Accountant client then please do
call us for more details 0845 094 1436 and ask to speak to Martyn
Which version of
QuickBooks should I choose ?
Premier or Pro the two current versions of
QuickBooks 2008, If however you want Multi-currency you will need to buy
QuickBooks 2006.
Do you sell QuickBooks ?
No so this is free unbiased advice, we do
however offer a full training and Accounting service for clients using
QuickBooks.
Can you help me with the set up and training of
QuickBooks
?
We certainly can, we have used QuickBooks
in various versions for many years, we are experienced and qualified
Accountants with many clients using QuickBooks. We can assist you in
training on QuickBooks at reasonable rates on a personal one to one basis.
We can also help with the set up of your Company data and End of Year
Accounting.
go to
Quickbooks Training Courses for more details
Is
QuickBooks right for my business ?
QuickBooks is designed for small to
medium sized businesses it can be adapted for many different types of
business, it has many aspects to it such as Multi User, Multi Currency,
Stock Control, Payroll, Time recording, Departmental/cost accounting.
However it is not right for all businesses if you contact us we will give
you a free honest opinion on whether it is right for you.
Can I use more than one Company on
QuickBooks ?
You certainly can, Its presently for
unlimited companies.
Is QuickBooks Multi-currency ?
The 2006 version is, but for some strange
reason the 2008 version isnt, so make sure you buy the right one!
Can I put my stock on
QuickBooks ?
Yes you can, though if you have a
complicated stock system you may find that Sage is better suited for your
needs.
How do I handle VAT Returns in
QuickBooks ?
You must ensure you have the preferences
switched on first and then make sure you allocate correctly each Sales
Invoice, or Receipt, Bill and or payment to the relevant VAT code. As long
as this is done correctly, you can produce a VAT Return easily at the end of
each Quarter to submit to HMRC. You should check that you haven't done
anything silly before accepting the figures and sending them in, as any
mistakes will be down to you not the software program!..
How do I reconcile my Bank Accounts in
QuickBooks ?
Have your Bank statement to hand. Go to
Banking Reconcile, Enter the date and end value of the bank statement you
wish to reconcile, we suggest you do a few days first to get the hang of it.
Then simply mark off on screen as you tick off the bank statement, if there
are items on the bank statement that you haven't yet entered into QuickBooks
you can simply enter them as you go along, this is a very handy feature not
available in Sage. Once you have marked all items on the bank statement
against your QuickBooks screen you should find that the variance figure has
been brought down to Nil. hey presto its done, simply follow the onscreen
prompts to finish, remember to print the reconciliation either to a hard
copy or to a pdf file for record purposes.
How do I transfer data to excel in
QuickBooks ?
This is dead easy, and one of the best
features of QuickBooks. To do this of course you must have excel previously
installed on the computer you are using. Simply produce on screen the report
you wish to transfer, click on the excel button and click new or browse to
an existing file then click open , QuickBooks will transfer the report into
excel and preserve formulas. clever huh!
What is the Audit trail in
QuickBooks ?
QuickBooks can keep a records of all
changes made to transactions and the name of the user who made the changes.
Then you can review the changes in the audit trail report. If you need this
function you must ensure that the audit trail preference is turned on.
Can someone set up
QuickBooks for my business ?
Yes, give us a call or fill in the
enquiry form and we will be pleased to discuss this for you. We can come and
visit you or if you are miles away can do it remotely.
How about Microsoft Accounting Express - Its free is it
any good ?
Well we have had problems on some
systems downloading it, we do now have a copy and will be evaluating it
shortly, so do contact us for further information on this - we will be
pleased to help you set this up if this is the route you have chosen.
Do you have a question not answered here ? Simple fill in
the form for a free answer
Contact US
If you would like some help with QuickBooks or your
Accounting generally then contact us for a free no obligation quotation.
