The 5 Most Common QuickBooks Blunders … and solutions you can understand
This is the second entry in a series of five.
I have worked with over one hundred QuickBooks using businesses and individuals over the past two years. Many QuickBooks users are doing themselves a disservice by continuing to use the system in ways that are causing more problems than not. Here are the issues that I see on a regular basis, and painless approaches to ridding oneself of being ordinary.
Failing to input deposits appropriately.
Do you like to “Record Deposits” rather than “Receive Payments” when a customer pays an invoice? If so, you’ve probably noticed that one or more of the following is true of your QuickBooks data:
- Income is grossly overstated
- Invoices which have been paid still appear to be outstanding in the system
- Your receivables have gotten to the point where you laugh each time you look at a balance sheet
- Reconciling the deposits in your checking account is a mathematical challenge