a. Select record deposit:
1. Enter the date
2. Under received from, use vendor name
3. From account use "accounts payable"
4. Enter the amount, save and close
b. Select pay bills:
1. The deposit should be listed as a bill to pay
2. Check it as if you are going to pay it
3. Another window will appear showing the credit memo. If it is not checked, check it and click done.
4. Back on your pay bills window, select pay and close. The credit memo and deposit should now be "linked
2. How do I handle Prepayments/Deposits from Customer?
There are two ways to handle these types of transactions:
a. Record the deposit as a credit to accounts receivable. When you invoice the customer, apply the credit to the invoice, or
b. Record the deposit to a liability account such as customer deposits. This will not affect your A/R account until you invoice
1. Create a current liability account, named Customer Deposits
2. Setup an “Other Charge” item in the item list. Use the Customer Deposits liability account to post to
3. Create a sales receipt using that customer and the previously created Item
4. When you invoice the customer, enter the "Customer Deposit" item as a negative amount on the invoice
3. Password Protecting QuickBooks
To password protect your QuickBooks data file click on Company in the menu bar, then Set Up Users. From here, you can assign a password for the main (Administrator) account in QuickBooks. You can also set up user accounts, passwords, and different levels of access if you have multiple people using your QuickBooks file. Make sure you keep your newly created password in a safe place (just in case you forget it on the invoice.
4. How to Record a Customer NSF Check
Unfortunately, as a part of doing business, occasionally you may received an NSF check from one of your customers. You need to take the monies out of your checking account and also put it back on the customer’s account to show that they still owe you.
Create two ‘Other Charge’ Items. Name one “Bounced Check” (the default account should be your cash account) and the other “NSF Fee” (the default account should be Service Charges or Misc Income).
Create an invoice to the customer for the Item ‘Bounced Check’ and enter in the check #, Invoice # and other information about the check. This transaction will take the money out of your checking account and puts it back on the customer A/R.
When the customer sends a replacement check, Receive Payment as usual and make your deposit. What you don’t want to do, is to delete the returned check from the original deposit. You did deposit the check and that can’t be changed. The above instructions allow you to keep your original deposit intact, subtract the amount of the returned check from your checking account and record who owes you for the returned check.
5. What if I forget the Administrator Password?
If you are using QB2007 for Windows there is now a tool that resets the administrator password for your company file. You will need to contact Quickbooks Support. It is a free service, but needs to be completed by the Quickbooks Support Team. Click on or cut and paste this link into your browser to complete this: http://dataservices.intuit.com/QBPassRm/PasswordReset.aspx.
If you are a QB2006 or earlier version, this link will give you the necessary information to reset your password: https://dataservices.intuit.com/qbpassrm/qb_automation.htm. Both of these services will take a few hours to complete. You will need your license and registration number.
6. Are there items displaying on your home page that you do not use?
You can set your display defaults to only those items that you frequently use. To do this go to Edit – Preferences – Desktop View.
1. My Preferences Tab – these are items that are individual for each user. Regardless of where you log on, these will be displayed.
2. Company Preferences Tab – This will change the display for all users when they log into that specific company. If you do not use Estimates, Sales Tax, Inventory, etc., you can turn these off that they do not display and clutter your screen.