QuickBooks Desktop combines a variety of accounting processes into one user-friendly and easy to use product. There are so many specific features for a tailor-made experience. Some of these QuickBooks Desktop features have been around since its inception while others are brand new. Check out a few of the hidden features we’ve identified.
Home Page > Record Deposits
First, let’s look at un-deposited funds. This feature groups deposits that went to the bank together. This way, you can better organize and limit your deposits. Click on “record deposits” to view recently received customer payments and group customer payments together to match the bank deposit. Deposits will automatically send to your check register when saved and closed, and your bank reconciliation will now match the bank statements.
Reports > Accounting and Taxes > Audit Trail
The Audit Trail is always running in the background and records all transactions including who made the transaction, the date and time, and if there are any changes to the transaction. This feature is helpful for identifying a change and the author of that change. The Audit Trail screen is organized by check. The “Prior” and “Latest” states indicate changes that are made to the check. These changes are bold and italicized. To view this screen go to reports, accounting and taxes, and click Audit Trail.
Company Financial > Profit & Loss by Job
Next, let’s look at job costing. This is a standard profit & loss statement that is grouped by either a job or a specific customer’s job. Each customer has a column where you can see the allocated expenses and revenue associated with it. This gives you a bird’s eye view of which jobs are making or losing money. Expand the view to see the detail and within the expanded views, drill into expenses to see how they are allocated. Click into the bill to see which expenses are tied to a specific job.
Batch Enter Transactions
Accountant > Batch Enter Transactions
The last feature is Batch Enter Transactions. This feature is great for inputting checks, deposits, credit card charges, bills, bill credits, invoices and credit memos that are done outside of QuickBooks. Checks aren’t always initially recorded in QuickBooks. With Batch Enter Transaction you will not have to enter them into QuickBooks one at a time.
For example, if you have checks in an Excel document, you can copy and paste multiple checks into the Batch Enter Transaction. Words are not always recognized when you copy and paste into QuickBooks. Reassign the invalid text (in red) to fields that are in QuickBooks. Click save transaction to save to the checking account. Check out the example in the video below.
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