How Does QuickBooks Work?

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      QuickBooks accounting software which provides the tools to manage your customers vendors clients inventory and finances. The Report Center provides a method of tracking a spects of your business, including sales, income, expenses and overall the company growth. QuickBooks automates many aspects of managing your business by calculating sales tax.
      Chart of Accounts
      The Chart of Accounts contains your company financial information. Checking savings, dividend accounts receivable and balance sheets appear within the Chart of Account list. Account balances and other information to the including account numbers and contact details appear with a each individual accounts window. The list of accounts appears under the List in the Chart of Accounts. Generally deleting an account should be avoided instead, make the account in active to provide more accurate tracking. QuickBooks creates several recommended accounts based on your business type.
      Vendor, Customer and Item Lists
      QuickBooks provides three main centers for managing your contacts and inventory — the Customer, Vendor and Inventory Center. The Customer and Vendor Centers contain lists of transactions related to a customer or vendor in a single location.
      Creating deatle reports requires that you accuatly enter your customer vendor and the item details Once to the run a report, customize the report to filter information by a specific customer vendor a item transaction date or show past due payments and other important information
      Payroll provides the capability to manage pay checks pay liabilities and set annual limits on particular payments such as a tips or vacation pay.In the Manage workers compensation tax-exempt employes and tax forms within the Payroll Center
      Billing and Invoices
      QuickBooks provides two types of statements – Billing and Invoice statements. Billing statements bill a customer with charges over a period of time – for example a construction company with charges that accumulate over several months as materials and other costs build up. a Billing statements get recorded in a special register called the Customer Register.

      For more visit QuickBooks Customer Support 

      Answered on June 1, 2017.
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