How Does QuickBooks Work?

Posted by kathrine on September 19th, 2017

QuickBooks accounting software which provides the tools to manage your customer's vendors clients inventory and finances. The Report Center provides a method of tracking aspects of your business, including sales, income, expenses and overall the company growth. QuickBooks automates many aspects of managing your business by calculating sales tax.
Chart of Accounts
The Chart of Accounts contains your company financial information. Checking savings, dividend accounts receivable and balance sheets appear within the Chart of Account list. Account balances and other information to the including account numbers and contact details appear on an each individual accounts window. The list of accounts appears under the List in the Chart of Accounts. Generally deleting an account should be avoided instead, make the account inactive to provide more accurate tracking. QuickBooks creates several recommended accounts based on your business type.
Vendor, Customer and Item Lists
QuickBooks provides three main centers for managing your contacts and inventory — the Customer, Vendor, and Inventory Center. The Customer and Vendor Centers contain lists of transactions related to a customer or vendor in a single location.
Reports
Creating date reports requires that you actually enter your customer vendor and the item details Once to the run a report, customize the report to filter information by a specific customer-vendor an item transaction date or show past due payments and other important information
Payroll
Payroll provides the capability to manage paychecks pay liabilities and set annual limits on particular payments such as a tips or vacation pay.In the Manage workers compensation tax-exempt employes and tax forms within the Payroll Center
Billing and Invoices
QuickBooks provides two types of statements – Billing and Invoice statements. Billing statements bill a customer with charges over a period of time – for example, a construction company with charges that accumulate over several months as materials and other costs build up. Billing statements get recorded in a special register called the Customer Register.

For more visit QuickBooks Customer Support 

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