Note: have you ever wondered what the 27 Frustrating Mistakes people make in QuickBooks are? Go here now:

Conquer 27 Frustrating Mistakes

If you have inventory, you will want to Crack the COGS Code. Go here to find out how:

Crack the COGS Code




***QUESTION***

Hey Jennifer: I just finished entering all of my checks for 2009, but as dated in 2010! Does QuickBooks have “find and replace” so I can change all of these dates?? Please don’t tell me I have to change them all one by one!!!

Elizabeth P.

***MY COMMENTS***

Elizabeth,

Put “find and replace” on your QB wish list, because it does not exist right now. You will have to change each check one by one. Sorry I wish I had better news for you. Thanks for writing.

***QUESTION***

Hi Jennifer,

When I go to print checks, there are some old ones there in the window. How do I get rid of them? They were already sent out. BTW – your newsletters rock!!!

Andy

***MY COMMENTS***

Hi Andy!

You will need to locate them in your check register, open them so they show in the Write Checks window (rather than just in the register), and uncheck the box that says, “To Be Printed.” Save the transaction.

I’m glad you love the newsletter. Thanks.

***QUESTION***

I recently got your ebook about all the mistakes people make in Qb. Wow, this is what I have been looking for. First of all... THANK YOU. I think you have taken a whole bunch of complex processes and teachings and combined them into some very useful material that is digestible and sets a path to gaining some real skill.

I’m wondering if you can answer a quick question for me. I need to write a paper check from one account, and deposit it to another so that I can pay for expenses out of the second account. How should I do this in QB? “Transfer Funds”? Or should I “Write Checks” then make a deposit? Thanks.

L.B.

***MY COMMENTS***

This is a great question! I love it because YOU’RE THINKING about the different ways to record transactions in QB. AWESOME! To answer your question: you can use any of these windows:

  • Transfer Funds
  • Write Checks
  • Make Deposits
  • General Journal

It’s not really important WHICH window you use because they all will get the job done... EXCEPT I suggest that you PICK ONE (the one that makes the most sense to you), and you use THAT window each and every time.

Most people use the Write Checks window for this kind of transaction. In the “Pay to the Order of” field, set up a new name as “Transfer” and make it an “Other” type (not Vendor, Customer, or Employee). Record the rest of the info in the top half of the window as you would normally, including the check number.

Then in the lower half of the screen, under the Expenses tab, SCROLL UP to choose the other bank account. Save the transaction. When you go to each register, you will see the money recorded in the correct column (Payment or Deposit).

Thanks for writing.

***QUESTION***

I need to know the total of uncleared checks as of right now. It’s the middle of the month so I can’t reconcile yet. How do I do this?

***MY COMMENTS***

In order for QuickBooks to know which checks are uncleared, you will need to do a special procedure that I developed and published an article about a few years ago. I call this special process a “Mid Month Reconciliation.” It’s like a regular reconciliation, but you can do it in the middle of the month, or at any time between regular recons, and you DON’T FINISH IT like you would a regular recon. Here’s how.

1. From your web browser, go to your bank's website and print a detailed listing of all banking transactions that have occurred since the last time you reconciled (presumably since the last statement). Make sure the beginning date of the printout is the same as the ending date of your last recon, and that the beginning balance on the printout is the same as the ending balance of your last bank statement.

2. Go through this printout and make sure all transactions that appear on it also appear in QuickBooks. ATM withdrawals, automatic payments, and other transactions of this type sometimes get overlooked - be sure these are current in QuickBooks.

3. From the Banking menu in QuickBooks, select Reconcile. The Begin Reconciliation window opens.

4. Select the correct account, enter today's date, enter the ending balance from the printout, and enter any banking fees that may appear on the printout that have not already been entered into QuickBooks. Click Continue. The Reconcile window opens.

4. In the same way that you would balance a regular bank statement, with the printout in hand go through the Reconcile window and place a checkmark next to any item that appears in both the printout and in QuickBooks. With a pencil, write a checkmark on the printout next to any item that you also checked in QuickBooks.

5. When you have checked all items from the printout, look at the Difference (located in the bottom right corner of the Reconcile window). It should be zero. If it is, then you are finished. Anything that is unchecked is uncleared. Don’t click Reconcile Now. You can either click Unmark All, or click Leave if you want to leave them marked for when you receive the statement.

6. Run a QuickReport for this account’s register. Filter it for anything Uncleared. This should give you the total you need.

Thanks for the question!



P.S. If you’re reading this and are wondering how to avoid the most common and frustrating mistakes people make in QB, go here right now and download a free chapter to check it out:

Conquer 27 Frustrating Mistakes

P.P.S. If you have inventory, do you know how it all works in QB? (ignorance is NOT bliss, it’s expensive!) Go here to Crack the COGS Code:

Crack the COGS Code

P.P.P.S. I'd like to be able to answer and respond to all the questions I get, but I get so many that I can't. Please don't take it personally if I can't get back to you, but if I can use your question in a future newsletter I will. Thanks!







JAT-INC
P.O. Box 3303
Vista, California, 92085
USA

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