10 Tips to Use QuickBooks More Effectively

1. Start With a Pencil Copy or Spreadsheet DesignAs you’re learning how to use QuickBooks, remember that – just as in construction – the underlying design and structure will have a huge impact on your final results!  If you’re just beginning, or want to remodel your current accounting system: 
   • Start with a working copy of your accounts and lists so that you can establish exactly how you want your QuickBooks to act.
   • A spreadsheet can also be a useful way to sort, organize, and group various elements while you are still brainstorming…
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2. Review & Set Your Company PreferencesQuickBooks allows you to modify your Company Preferences for the structure of data, reports, and features that you do and don’t want to use. Make selections that reflect the way that your company does business.
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3. Learn How To Use QuickBooks’ Lists Feature
   QuickBooks’ lists help to integrate information and minimize data-entry chores. Using those lists creatively also allows you to customize reports and get the information you need to make management and pricing decisions.
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4. Group Your Costs
   Use your Chart of Accounts to group costs by business function.  This step will provide you with instant information on costs from a control and decision-making perspective.
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5. Consider How to Most Effectively Use Your Customer:Job ListThe Customer:Job feature is designed to help you track all financial transactions that apply to a specific customer. This allows you to assign estimated costs, purchase orders, bills, employee time, payments, etc., to each job.
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   You can also organize names in a variety of ways in order to provide useful summaries and analysis.
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6. Create Your Own Names for VendorsQuickBooks allows you to create unique vendor names.  This means that you can quickly enter vendors and auto-recall cost assignments, while still using the vendor’s formal name for payment.
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7. Learn How To Use QuickBooks Reports and Customize Them To Meet Your NeedsCompany owners, individual departments, and accountants all require different reports, formats, and processes. Once you recognize what those individual needs are, and you understand how to use QuickBooks’ systems, you can customize reports to meet your company’s varied needs.
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8. How to Use QuickBooks to Monitor Important InformationQuickBooks allows you to establish accounts and items that will gather and report on the information that is important to you.  For example: you could add a “Direct Labor-Overtime” account and payroll items. Then you can quickly see and monitor direct labor overtime costs – in total, by job, or by employee.
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9. How to Use QuickBooks Help FeaturesQuickBooks includes these onscreen help features:
   • Help With This Window: Press F1.
   • Help Index: In the Help window, highlight and click on a relevant word to see definitions, further explanations, examples, and related topics.
   • How Do I?: Found in the activity windows. Click the “How Do I?” button, and a drop-down menu will appear. Just select the answer to your question.
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10. Get Efficient! Learn How To ‘Maneuver’ Like an Expert…For example, learn which navigation methods work best for you. For instance, you can choose from:
    • Navigation windows
    • Pull-down menus
    • Icons
    • QuickBooks Centers
    • Shortcut keys