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Data Entry and Accounts Payable Tips
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Entering dates:
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Save keystrokes- Date fields do not require slashes or 4 digit years.
An alternative to typing dates:
In a date field, highlight the default date, type the letter T
for today's date; type the letter W for the first day of the week:
type the letter K for the last day of the week (W is the first letter
in Week and K is the last letter): type the letter M for the first day of the month; can
you guess the shortcut for the last day of the month (H is the last letter in month); type
the letter Y for the first day in the year and R for the last day of the year.
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QuickBooks Keyboard Shortcuts
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Keyboard
Strokes
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Effect
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Ctrl + 1
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Displays important information about
QuickBooks ® |
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Ctrl + D
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Delete
transaction
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Ctrl + F
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Find
transaction
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Ctrl + H
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History
of A/R or A/P transaction
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Ctrl + L
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Display list
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Ctrl + M
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Memorize
transaction
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Ctrl + O
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Copy
transaction in a register
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Ctrl + Q
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Quick report
of list item
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Ctrl + R
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Use register
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Ctrl + U
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Use item on a
list
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Ctrl + V
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Paste
transaction in register
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Ctrl + Y
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Display
transaction journal
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Ctrl +
(right arrow)
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Next word in
field
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Ctrl +
(left arrow)
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Previous word
in field
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Ctrl + Del
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Delete line
item
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Ctrl + Ins
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Insert line
item
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First item in
list or previous month in register
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Ctrl +
Page Down
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Last item in
list of next month in register
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Type first
few letters
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QuickFill
name on a list
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Shift
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Window opened
is centered on the screen
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Ctrl +
Enter
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Records
Transaction
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Tab
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Moves to the
next field
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Shift + Tab
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Moves to the
prior field
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Escape
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Cancels
transaction or closes window
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Ctrl + Z
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Undoes
changes made to field
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Up Arrow
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Moves to line
above in detail area
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Down Arrow
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Moves to line
below in detail area
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+
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Increase form
number or increase date
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-
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Decrease form
number or decrease date
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Space Bar
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Use to mark
or unmark boxes with check marks
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Ctrl + Up
Arrow
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Scrolls
through individual entries on a list while in a form
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Alt + Down
Arrow
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Displays the
list on a form
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Diamond
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Use the
diamond on lists to move the item to another position or to
make subaccounts, sub-items, or jobs
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Creating an
*.iif file to Import transactions
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What is an IIF file? QuickBooks help and support
answers this question and provides sample *.iif files to help with
a successful import.
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Job Costing getting the most from QuickBooks
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Article covers best practices for creating an
accounting system that will help you make business decisions by
Intuit.
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Equipment
purchases |
Generally if you purchase an asset over $500
the IRS wants you to record the asset as a fixed asset and
depreciate over the life of the asset. The IRS also provides
for an accelerated write off of these assets if you have net
income in the business. This accelerated depreciation is called
Section 179 depreciation and allows expensing up to $102,000
(2004) of asset purchases.
In order to qualify for Section 179
depreciation you should record the assets on your books in
an fixed asset account (this will alert your tax preparer that an
asset was purchased). You can set up one account named "fixed
assets" or several accounts named:
Equipment
Furniture & Fixtures
Vehicles
Buildings & Building Improvements
Software
Each of these accounts will be a fixed asset type of account on
your chart of accounts.
When you purchase an asset with for cash or
check recording is easy within QuickBooks. Simply categorize the
payment to one of the above named accounts and in the memo field
put a complete description of what was purchased.
If you place a down payment on an asset,
code the down payment to one of the fixed asset accounts mentioned
above and then create a journal entry for the remainder of the
purchase cost
From the banking menu > create journal entry >
Debit a fixed asset account for the the remaining purchase price
Credit a loan payable (set up a new chart of accounts - as a long
term liability).
Do not record the interest in the above
journal entry. Interest will be recorded with each payment or with
a journal entry once a year
In the memo field make a note of the first date the first loan
payment is due, the amount of each loan payment and the interest
rate on the loan and the number of loan payments required to
payoff the loan.
QuickBooks 2004 comes with a fixed asset tracker and a loan
manager that will help you record your interest and principle
monthly. Just one of the many reasons to consider upgrading.
For a 15-20% savings on an upgrade purchase click:
Upgrade QuickBooks |
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Copy & Paste |
Throughout windows and PC based software there
is a fundamental tool, copy and paste, that speeds your data entry
and allows you to copy important text from one program to another,
or one field to another.
a. Use your mouse to highlight (select) the text you want to copy.
Highlight the text by left clicking at the "end point" of the text
you want to copy, holding the clicker down and swiping the mouse
to the left - stopping at the beginning of the text you want to
copy, then release the clicker.
b. Press Ctrl+C (at the same time) to copy the section into
a temporary storage space called the Clipboard. You do not see
this storage area, it operates behind the scenes.
c. Now left click in the new field or document where you want to
paste what you have just highlighted.
d. Press Ctrl+V and the contents of the Clipboard are pasted
into place.
If you find yourself repeating data entry
when setting up a new customer / vendor or you are changing a
group of transactions to a new account, simply copy and paste the
repeated text using the above method. It will take you a few
tries to before you get the hang of it, but use it regularly and
you will find new opportunities to use this trick throughout
QuickBooks and also coping text from the internet browsers or from
one word document to another, or one excel cell or document to
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Associating an account with a vendor
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Would you like QuickBooks to recall what
account/item you used the last time you booked a transaction from
that vendor or customer? To turn on this feature, from the Edit
menu select Preferences, from the left scroll bar click on the
"general" icon. Put a checkmark next to "automatically recall the
last transaction for this name". Then click OK. Next time you
enter a transaction from a customer or vendor you use regularly,
the screen with auto fill for you Modify what is necessary
including the dollar amount of the transaction. You may delete any
lines that are not applicable using Ctrl + Delete key.
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