Customer Discounts (applied on the Receive Payments window) and Vendor Discounts (applied on the Pay Bills window) are effective and efficient ways to discount what your customers owe you and what you owe to your vendors.
Ideally, all revenue should affect both an Item and an Income account in QuickBooks. When this doesn't happen, it is important for you to quickly locate the offending transactions and make any necessary adjustments.
The Profit & Loss by Job report shows all of the income and expenses you have assigned to Jobs on Checks, Bills, Invoices, Journal Entries, etc. However, the totals on the Profit & Loss by Job report may not agree to the totals on the Profit & Loss.
As with any new version the value proposition for upgrading is very high for accounting professionals. In my opinion the enhancements to the Client Data Review feature alone more than justify the investment in the new version for any accounting professional.
By Joe Woodard, AccountingWEB QuickBooks columnistIntroductionIn my opinion QuickBooks is as "bug" free as any product on the market and is much less troublesome than most applications. Intuit has an incredible beta testing process before each new version and the company issues releases periodically throughout the year as users report issues and the programmers resolve those issues.
By Joe Woodard, AccountingWEB QuickBooks columnist Restricting Changes to the Chart of AccountsThis trick prevents users from making the following changes to the chart of accounts: Merging Accounts Changing Account Types Changing Sub-Account/Parent Account AssignmentsReason for the Trick