Quickbooks and Reckon Tips and Hints: Understanding your Chart of Accounts: Correctly using your Chart of Accounts is like a compass, guiding you on your way through the discovery of Quickbooks. Make your Chart of Accounts a starting point whenever you want to troubleshoot account balances, view account transactions or understand the figures that lie behind your financial reports. The following steps will help you: 1. Click the Account button at the bottom to create a new account, delete an account, edit or re-sort the list. 2. For Balance Sheet accounts (assets, liabilities and equity accounts), double click to view a register of all transactions allocated to that account along with a running balance. 3. For Profit & Loss accounts ( income, cost of goods sold and expense accounts), double click to view a QuickReport of all transactions allocated to that account. 4. To customize the the columns that QuickReport displays, click the Account button followed by Customise Columns. Then click Available Columns or Chosen Columns, followed by the Add or Remove button.
Posted on: Tue, 27 Aug 2013 22:00:00 +0000
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