Setting up or modifying an existing Chart of Accounts is not an overwhelming task in QuickBooks.
If you are new to QuickBooks, when you create your company file (File menu -> New Company), the EasyStep Interview provides you with a… Continue reading
The Chart of Accounts in QuickBooks is the backbone for a company to track how much money it has, money it owes, money that is coming in, and money it is spending. The chart of accounts should be designed to include the accounts necessary for both financial and income tax reporting. Continue reading
Retention or retainage is usually a specific percentage, for example 10%, of the total contract that is held back by the project owner in reserve to protect the owners interest. QuickBooks users must initiate work-arounds and make QuickBooks track retainage that is held on each progress invoice. Continue reading
The QuickBooks Chart of Accounts is the framework used to categorize the information and transactions used to create reports. By using a chart of accounts and creating reports, you will always know the current state of your business. Continue reading
