QB enables you to track stock quantities when you record the quantity of products sold on your Sales Invoices and purchased when you record your bills. This means that a sales invoice can be created and emailed in 3 or 4 clicks.
Similarly, customer Sales Invoices, which are largely similar in nature, can be memorised and repeated as appropriate. To record these, all that is needed is a double click to open and a single click to confirm. QB enables you to store a transaction which repeats say every month, eg. When reporting, you can choose to 'collapse' the reports and just report "Office Expenses" as a total, or 'expand' to show the totals of the sub-accounts. For example, "Office Expenses" could have sub-accounts of "Stationery", "Postage", "Water Cooler". "Stationery" or "Accommodation" is more understandable than remembering a number.Īdditionally QB enables you to create 'sub-accounts'. Most people find that a simple description, eg. QB does not require the Accounts in the General (or Nominal) Ledger to be numbered it is optional.
QB has an Audit Report which lists all changes. QB does not leave a trail of deleted 'red ink' transactions. Transactions can be amended if they are incorrect. QB has an excellent facility to find any transaction by entering just one element, eg. QB records the purchases as Expenses for the Profit and Loss Account, and the money paid out to keep the bank record up to date. The single payment method is better for the new Cash Basis. This is important for businesses which need to know how much they owe.Īlternatively, if you want to record the bill and the payment as a single transaction this is also possible.
QB enables you to record a bill and record the payment of the bill at a later date. This is a lot quicker and cheaper than printing and posting out. QB records the Sales from the Sales Invoice for the Profit and Loss Account, and the money received to keep track on the bank or cash accounts.Īs well as printing Sales Invoices, these can be emailed to your clients and customers in pdf format by email attachment, including your logo. The single Sales Receipt method is appropriate for the new Cash Basis. Alternatively, if you receive the money on the same day that you create the invoice, then QB enables you to create a single Sales Receipt. This is important for businesses which need to know how much money they are owed (Aged Debt). QB enables you to create Sales Invoices and then Receive Payment at a later date. This webpage is designed to help you appreciate the way that QuickBooks works.
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