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5 QuickBooks Mistakes Every Business Should Avoid
The document outlines 5 common mistakes that businesses make when using QuickBooks accounting software. These include: 1) Not reconciling bank accounts regularly, 2) Not using keyboard shortcuts, 3) Not backing up QuickBooks data, 4) Not upgrading to the most current software versions, and 5) Entering bills and then writing checks instead of using the "Pay Bills" feature for payments. The document stresses that while mistakes are part of learning, businesses should learn from these common errors to prevent problems in using QuickBooks down the road.
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5 QuickBooks Mistakes Every Business Should Avoid
- 1. 5 QuickBooks MistakesEvery Business Should Avoid
- 2. Many businesses areusing QuickBooks for managing their finance but only few of them are using it correctly. These mistakes might not seem important but in the long run they can be disastrous. Following are the top five mistakes businesses should avoid when using QuickBooks.
- 3. 1. Not ReconcilingBank Accounts
- 4. An account’s integrity dependson reconciliation which guarantees its accuracy. If your account is attached to QuickBooks , make reconciliation a regular habit.
- 5. 2. Not UsingShortcuts
- 6. Keyboard shortcuts arenot used as they should be. Not only do they allow quicker navigation but also reduce wear-and- tear of your wrists.
- 7. 3. Not BackingUp Your Account
- 8. QuickBooks data isvery important. The loss of this data can cripple a company. Regularly back up your QB data so that it is safe from unexpected problems.
- 9. 4: Not Upgrading SoftwareVersions
- 10. Many accountants andCPAs use older versions of QuickBooks, deeming the extra expense needless. However, having an updated software has its own benefits as it comes with new software fixes and tax laws.
- 11. 5:Entering A Bill AndThen Writing A Check
- 12. Bills and checksshould not be mixed. Use the “Enter bills” and “Write checks” window for their respective purposes. Go to “pay Bills” for payments.
- 13. Mistakes are apart of the understanding process. They help build the expertise needed to prevent headaches. So don’t worry just learn from mistakes!
- 14. About Us Ace CloudHosting powered by Real Time Cloud Services (RTCS), is an Authorized commercial QuickBooks Hosting provider and Application Hosting Service provider to CPAs, SMBs, Bookkeepers and ranks amongst the leading QuickBooks hosting providers.
- 15. LIKE THIS DECK? GETIN TOUCH! Follow us for more Great Content Also Check Out Some of Other Slideshares
- 16. References: 5 QuickBooks BlundersThat Can Bury Your Business – EduPristine QuickBooks Support Knowledgebase – AceCloudHosting