Monday, September 26, 2011

QuickBooks: Don’t forget…!

It is not uncommon to get so busy the standard monthly bills can be issued late. The more invoices you have, whether received in the “snail mail” or via e-mail, the more chance there is for one or more to be paid after the due date. This can cause multiple problems, especially if these late payments include credit cards and/or loan payments.

There are ways to avoid this concern:
• Use bill pay through your business bank and have an automatic payment scheduled every month for release.
• Memorize the bills in QuickBooks.

If you have several memorized transactions that you always enter on the same day, you can save time if you group them together.

You memorize your rent payment check, your vehicle insurance payment check, and utility payment into a group as each transaction occurs at the end of each month. You would create a group perhaps titled “End of Month”. Then, you could either have QuickBooks enter the grouped transactions automatically at the end of every month, or have QuickBooks remind you when it's time to recall the grouped transactions.

Create groups on a weekly, monthly, quarterly, or annual basis to help you get past the anxiety of forgetting when your automobile registration, or estimated tax payments are due.

3 comments:

Geoff Granfield said...
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Geoff Granfield said...
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Geoff Granfield said...

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