Askforaccounting.com is providing the answers to all your issues and queries in the form of frequently asked questions (FAQs). Below are a series of questions with their solutions that are commonly asked by the users. Give it a look and get your answers from here.
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Here is the List of QuickBooks Accounting FAQs
What is QuickBooks & How Do Businesses Use it?
QuickBooks is one of the best Bookkeeping and accounting software used to manage all the financial things of small or medium-sized businesses. The businesses use it by downloading and installing it in their system as they have a subscription of it according to their requirements. The businesses use it to track and manage all the finances like income and expenses, inventory, pay bills, taxes generating the reports, etc.
Do I need an Accountant if I use QuickBooks?
Yes, you need an accountant for using the QuickBooks software. This software helps you in managing the finances but for that, you have to know what action or operations you have to perform. If you are an accountant or have knowledge of accounts then you can do it easily. Otherwise, you need an accountant to track and manage all the things from paying bills, taxes to managing the income and expenses.
Which QuickBooks is best for a Small Business?
For the best QuickBooks software, you must know about your small business needs and choose according to that. All the QuickBooks editions and versions are best for small businesses as they all have great features. You must go through the features of each edition and then decide which one fits according to your business needs.
Is there a Monthly fee for QuickBooks Desktop?
Yes, of course, there is a monthly and annual fee for the QuickBooks Desktop. The fee may vary according to the editions of QuickBooks like.
1. QuickBooks Simple Start- $12 per month onwards
2. QuickBooks Essential- $20 per month onwards
3. QuickBooks Plus- $ 35 per month onwards
4. QuickBooks Advanced- $75 per month onwards
5. QuickBooks Self-Employed- $7 per month onwards.
Will QuickBooks Online work on my Apple Mac?
QuickBooks Online is compatible with Apple Mac operating system. For this, you have to keep using the browser that Consultants both Mac and your QuickBooks online program.
Can I access QuickBooks Online on my Mobile Phone or Tablet?
You can easily access your QuickBooks online account on your Phone or Tablet. As it is the full cloud solution and is accessible anytime from anywhere. If you have the browser that is compatible with it so you can use it on any device.
What is QuickBooks Enterprise Diamond?
It is one of the QuickBooks software editions. It is the most powerful software edition until now that is especially for the complex businesses that need more to get it done. It provides you the TSheets Elite, assisted payroll, VIP Consultant, and up to 40 users with more powerful tools.
It has smart integrations deeper insights, powerful management of inventory, specialized industry editions, paid with easy and smart ways, and many more features.
Is QuickBooks Desktop Enterprise available in Industry-Specific Editions?
Yes, it is industry-specific like Wholesale, Manufacturing, Contractors, Accountant, Retail, Professional Services, and Non-profit.
Do you have a Desktop Product for Mac?
Of course yes, there is a QuickBooks Desktop for Mac edition for Mac users. It has many advanced and improved features that are optimized for the Mac platform.
Can I use the Payroll without a Subscription?
Yes, you can use the Payroll without any subscription.
What is the Method to use QuickBooks Payroll without a Subscription?
To use payroll without any subscription you have to do it manually. Make sure that you are not using the internet or firstly go offline. Then follow the steps to create the manual payroll and the steps are- Open QuickBooks >> Help menu >> Press F1 button for QuickBooks Help >> Search Manual Payroll >> Calculate payroll manually >> Set up the company file to use the manual payroll calculations >> manual payroll calculations link >> after set up restart QuickBooks software.
What are the two Types of Financial Primary Reports in QuickBooks?
The 2 types of reports are:-
Summary Reports – It provides you a summary of all the things like expenses, customers, vendors, sales, and others. With this, you get an overview of your business. It shows you only the balances and the summary of all the things.
Detailed Reports – This provides the detail of everything so that you get to know what and how it is done in your business. It includes suppliers, expenses, customers, incomes, and many other things. It has all the transactions shown individually.
Does QuickBooks have a Free Version?
No, there is no free version of QuickBooks. There is only a free trial of QuickBooks software for up to 30 days. After that, you have bought the subscription of the QuickBooks software to continue your accounting work.
What is the Difference Between QuickBooks and Bookkeeping?
Bookkeeping- In this, the user records the day to day transactions of their business related to the finances. It includes receipt, purchase, sales payment made in or made out to any person or business.
QuickBooks- In this, the bookkeeping is the part of it. Apart from that, it does accounting that is interpreting, classifying, analyzing, reporting, and summarizing the data of the bookkeeping. With this, you get the financial statements like cash flow, income, and balance sheet and provide it to other people.
How to Export Invoices from one QuickBooks to Another?
For exporting the invoices follow the steps:-
Open the QuickBooks >> Open the company file for exporting the invoice >> Click Lists menu >> Template >> Choose the template to export >> Click Export option >> Change or confirm the name of the file >> Select location to save >> Click on Save button.
How to Import Transactions into QuickBooks Desktop?
For importing the invoices the steps are mentioned below:-
Firstly, open QuickBooks >> Open the company file for importing the invoice >> Click Lists menu >> Template >> Click on the import button >> Choose the file you want to import in QuickBooks >> Go to the location of the invoice in your account >> Click and Select the file to open it >> Press Open button.
How to fix Unrecoverable Error?
The unrecoverable error can be fixed with different solutions according to the reason for the cause. Here are the solutions that you can do by identifying the cause of the error. The solutions are:-
• Try to open the sample file if it’s done then try to open your company file
• Check the damage or missing components using the QuickBooks Components Repair Tool
• Restart your system
• Install QuickBooks using the Clean Install Tool
• Verify that Windows is not running in the safe mode; try to open QuickBooks in the normal mode
• Register QuickBooks files again.
How to Set up Chart of Accounts in QuickBooks Desktop?
Open the QuickBooks software >> open Company file and Chart of Accounts >> Click on the button that is below >> A window opens up in this click on the Express Start button >> Another window opens up >> Provide all the details that are asked >> For help, click on Help me choose option >> After filling all information click on the button Preview your settings to check >> Select the tab Chart of Accounts >> Then review the accounts >> Go to the Lists menu >> Chart of Accounts >> Here is the list of accounts that you get by QuickBooks setup.
Does QuickBooks Enterprise use SQL Server?
Yes, QuickBooks enterprise uses the SQL Server for business growth and Consultant. The SQL Server helps your QuickBooks Enterprise account transferring or integrating the data from the server to QuickBooks and from QuickBooks to the Server.
How many users can QuickBooks Enterprise have?
The users can be 1-40 in a single account. If you have less then you can upgrade it easily. For the upgrade, you can connect with the QuickBooks customer helpdesk via call, email, or live chat available 24/7 hours.