However, in QuickBooks, these types of investments show up as assets of the company ( Vehicle List). A machine that costs hundreds of thousands of dollars is an investment that you hope will generate lots of income, and you should track it in QuickBooks. But companies have investments, too, of course. QuickBooks isn’t meant to keep track of the capital gains and dividends you earn from investments such as stocks and bonds. Track the performance of stocks and bonds. If you do decide to use QuickBooks, at least create a separate company file for your personal financial info. In addition to opening a separate checking account for your business, track your personal finances somewhere else (like in Quicken). Even if you’re a company of one, keeping your personal finances separate from your business finances is a good move, particularly when it comes to tax reporting. (QuickBooks Enterprise Solutions version 7.0 and later increases these limits to 1,000,000.) QuickBooks Pro and Premier company files can hold up to 14,500 inventory items and a combined total of up to 14,500 customer, vendor, employee, and other (Other Names List) names. Work with more than 14,500 unique inventory items or 14,500 contact names. If you want to keep track of prospects before they become customers, you can record their info in the Lead Center ( Working with Leads). With the To Do List ( Tracking To-Dos), you can set up tasks, phone calls, emails, meetings, and appointments with leads, customers, or vendors. You can search QuickBooks Help and troubleshooting topics, as well as view questions and answers from the Intuit Community all from the “Have a Question?” window ( QuickBooks Help). QuickBooks Help now provides a single way to access all your help options. You can now obtain report templates from others in the Intuit Community ( Intuit Community) and share report templates you’ve created. Now you can export reports to Excel and update data in existing worksheets without mangling their formulas and formatting ( Exporting addresses). Integration with Excel has gotten a lot smarter. Inventory items appear on the left side of the window, while details and transactions related to the selected inventory item appear on the right. The new Inventory Center ( Working with the Inventory Center) looks like other QuickBooks centers, such as the Customer Center. You can create a batch of timesheets if you enter the same timesheet info for several employees or vendors ( Filling in Weekly Timesheets). In addition to batch invoices for the same items and amounts ( Adding a Memo to Yourself), you can now select multiple customers with unbilled time and expenses and create the invoices for all of them at once ( Creating a batch of time and expenses invoices). The window steps you through entering the 411 about your company choosing settings appropriate for your type of business and setting up customers, vendors, employees, items you sell, and bank accounts. The QuickBooks Setup dialog box ( Options for Creating a Company File) now opens as soon as you choose the command to create a new company file. The challenge is knowing what to do according to accounting rules, and how to do it in QuickBooks.Ĭhanging the process for creating a new company file is something of a tradition at Intuit. And with each new version, Intuit has added enhancements and new features to make your workflow smoother and faster. Many of the features that you’re familiar with from other programs work just the same way in QuickBooks-windows, dialog boxes, drop-down lists, and keyboard shortcuts, to name a few. From the smallest of sole proprietorships to burgeoning enterprises, one of these editions is likely to meet your organization’s needs and budget. But now, when you can choose milk from soybeans and rice as well as cows, and with five different levels of fat, it’s no surprise that QuickBooks comes in Simple Start, Pro, Premier, Online, and Enterprise editions (which, in some cases, are dramatically different from their siblings), as well as six industry-specific editions. Back when milk was simply milk, you either used QuickBooks or you didn’t. And over the years, Intuit has introduced various editions of the program to satisfy the needs of different types of companies. Thousands of small companies and nonprofit organizations turn to QuickBooks to keep their finances on track.
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