To keep tabs on all activities in your bank account and to enter all transactions well, you require QuickBooks accountant for online banking. If you often make transactions using ATM card or credit card and have no time to enter your purchase manually, the accounting software can offer a solution. For one to work well with the software, it is good to learn how it operates as an accountant. The following are QuickBooks Proadvisor tips for online Banking.
The setup is essential when it comes to online banking. Make sure you use the right setup to enter information especially when doing it for the first time. Avoid using spaces or dashes when keying in the account number. Again, to be able to wind up and restore the backup when a lot of work has to be done, create a backup.
The next step is to download before reconciling. This is because a major problem accountants face, is finding unmatched transactions in the online banking center that were previously entered into the software then reconciled. The software denies matching downloaded transactions with settled ones even if the operation is same.
There are two different ways used to download transactions. It is done by a direct connection, or the web connect. In direct connection, you just enter the password and then download the operation. The latter opens the accounting software web browser then connects you to the website of your financial institution. Sign into your account and navigate till you get to click on a link that says download transaction. Then just follow the instructions and complete the transaction.
It is also essential to key in the correct dates when doing the downloads. Keeping track of dates when you last downloaded a transaction to many banks is a problem. This happens to those banks that use web connect. Therefore, maintain a record of the date each time you download a transaction to avoid downloading transactions twice hence having transactions that do not match.
Remember to enter the correct transactions to ensure that after every transaction you make, the online account status shows you do not owe any money. When you are paid by a customer, it should indicate that the client does not owe you. When these transactions are assigned matched status, then you did the records correctly.
Remember to add all information of any transaction type. Key in the correct payee, check number, and the date to ensure that you do not have unmatched transactions because of not adding all information. When deleting the statements from the software, make sure you match all unmatched transaction to avoid doing it the manual way.
Finally, you need to upgrade your system before it expires because once it does so, all the online features will not be available. Updating the program frequently will ensure smooth online transactions throughout your use. Also, it is good to note that the software cannot perform all online transactions for your business. It might force you to get a professional to design something that will suit your business needs.
The setup is essential when it comes to online banking. Make sure you use the right setup to enter information especially when doing it for the first time. Avoid using spaces or dashes when keying in the account number. Again, to be able to wind up and restore the backup when a lot of work has to be done, create a backup.
The next step is to download before reconciling. This is because a major problem accountants face, is finding unmatched transactions in the online banking center that were previously entered into the software then reconciled. The software denies matching downloaded transactions with settled ones even if the operation is same.
There are two different ways used to download transactions. It is done by a direct connection, or the web connect. In direct connection, you just enter the password and then download the operation. The latter opens the accounting software web browser then connects you to the website of your financial institution. Sign into your account and navigate till you get to click on a link that says download transaction. Then just follow the instructions and complete the transaction.
It is also essential to key in the correct dates when doing the downloads. Keeping track of dates when you last downloaded a transaction to many banks is a problem. This happens to those banks that use web connect. Therefore, maintain a record of the date each time you download a transaction to avoid downloading transactions twice hence having transactions that do not match.
Remember to enter the correct transactions to ensure that after every transaction you make, the online account status shows you do not owe any money. When you are paid by a customer, it should indicate that the client does not owe you. When these transactions are assigned matched status, then you did the records correctly.
Remember to add all information of any transaction type. Key in the correct payee, check number, and the date to ensure that you do not have unmatched transactions because of not adding all information. When deleting the statements from the software, make sure you match all unmatched transaction to avoid doing it the manual way.
Finally, you need to upgrade your system before it expires because once it does so, all the online features will not be available. Updating the program frequently will ensure smooth online transactions throughout your use. Also, it is good to note that the software cannot perform all online transactions for your business. It might force you to get a professional to design something that will suit your business needs.
About the Author:
Find an overview of the benefits you get when you use QuickBooks software and more info about a certified QuickBooks ProAdvisor at http://www.jraccountingservices.com right now.
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