As a small business owner, you are probably well aware of the importance of keeping good financial records. From receipts and invoices to income statements and paystubs, maintaining good records is essential when running any type of business. Thankfully, the right accounting software can make this process a breeze, simplifying and facilitating the otherwise tedious and time-consuming task of accounting. So, what makes Quickbooks the preferred choice among seasoned small business owners? Check out some of the benefits it offers listed below.
Backed by Intuit
With Quickbooks, you can rest assured knowing that it’s backed by one of the most trusted and reputable companies in the world. Intuit has been a leading player in the tax/accounting market for more than a decade now, and there’s no signs of this changing anytime soon. If you ever encounter a problem when using Quickbooks, you’ll have no problem finding a solution thanks to their unparalleled customer support.
Access Anywhere, Anytime
Assuming you choose either Quickbooks Online or Hosted Quickbooks, you’ll have the freedom to access your account from any Internet-connected computer or device. Whether you are working at the office, or if you are hundreds of miles away on vacation, you can access your Quickbooks account. The convenience of accessibility is just one of the many reasons why Quickbooks is the preferred choice of accounting software among small business owners.
Supports Excel Files
Have an excel file that you would like to import into Quickbooks? This is another task that Quickbooks is capable of performing. It’s cross-compatible with Excel, Word and other leading file types, meaning you don’t have to worry about manually entering each field into your account. Just import the file and Quickbooks does the rest.
Quickbooks also has some pretty convenient apps available for use. Using these apps, you can connect to your account and perform other accounting tasks like checking your balances and even sending invoices.
Cyber threats have become a serious problem for small business owners. If a hacker were to access and delete your data, would your business be able to stay afloat? The good news is that Quickbooks offers a highly secure platform on which to perform your small business accounting; thus, reducing the risk of a cyber attack.
Did we leave out any other benefits? Let us know in the comments section below!
Have you encountered the error 6000 message when attempting to run the Quickbooks accounting software? It’s frustrating when you get ready to do some accounting, only to discover an error message such as this. But the good news is that Quickbooks makes it relatively easy to diagnose problems, as each error is given a specific code corresponding to its respective cause. So by analyzing your error code, you can find and fix the problem.
What Causes the Error 6000 Message?
There are a few different possible causes of the error 6000 message in Quickbooks, one of which is an incomplete Quickbooks installation. When you first install the Quickbooks accounting software, it will launch a “Wizard” that performs most of the steps automatically. It’s important that you allow the Wizard to finish the installation. If you abort the installation mid-way through, it may leave some files corrupted, which could in turn lead to this error message.
Another possible cause of the error 6000 message is a damaged company file. The company file used in Quickbooks has the extension .qbw, and if this file is damaged or otherwise corrupt, it may trigger this error code.
Even if the actual company file is fine, however, the folder in which the file is stored may be damaged, which can also trigger the 6000 error code.
Other possible causes of the Quickbooks error 6000 code may include incorrect permissions to access the company file, compatibility problems with different versions of Quickbooks, and the use of firewalls or other security software that blocks access to the company file.
How to Fix the Quickbooks Error 6000 Message
Being that there are several potential causes for the error 6000 message, the steps to fix it will vary depending on the root cause. If permission settings are causing the message, for instance, you should go back into your Quickbooks account to make sure that you have permissions to access the company file. Or if the installation was incomplete, it’s probably best to reinstall the Quickbooks software.
For most cases of the Quickbooks error 6000 message, however, you can fix it by using the File Doctor tool. This free-to-use tool will automatically scan your Quickbooks installation for errors, and if it finds any, it will offer to fix them. So if you haven’t done so already, download and run the File Doctor tool to see if it resolves your error 6000 message.
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There’s a reason why Quickbooks remains the world’s leading accounting software for small-to-mid sized businesses: it’s user friendly, loaded with features, and backed by Intuit’s first-class support. But like all software, even Quickbooks is susceptible to various errors, some of which occur during the installation phase. If you’ve encountered an error when attempting to install the Quickbooks accounting software, you should try using the QBInstall Tool to fix it.
Before we start, it’s important to note that QBInstall isn’t going to fix all installation problems. The tool can be used to diagnose and fix a variety of installation errors, but it’s not a magic fix. According to Intuit’s official website, the QBInstall Tool can fix 1603 errors, 1935 errors, 1904 errors, 1402 errors, errors associated with damaged Microsoft .NEW Framework, and errors associated with damaged MSXML and C++. If you’ve encountered a different type of error, you may have to seek an alternative solution.
The first step to fixing the aforementioned installation errors is to download the Quickbooks Install Tool to your desktop. Don’t worry, the tool is completely free and can be found at http-download.intuit.com/http.intuit/Downloads/Tools/QuickBooksInstallDiagnosticTool.exe. Simply follow the link and download the tool to your computer’s desktop.
Once downloaded, double-click the exe file to begin the installation. Next, run the program to locate your installation files. In the event that you cannot see or find your Quickbooks installation files, you’ll need to run the installer again to populate the files in the temp folder. The QBInstall Tool will then use these files for its repairs.
Depending on the problem, you may see the QBInstall Tool return one of several different messages. If the tool says “No Error Details Found,” then it did not detect any errors associated with your Quickbooks installation. If it says “Error Detected,” then it detected at least one error associated with the installation. Assuming the latter is revealed, it will give you the option to fix the error by clicking “Proceed.” Simply follow the on-screen instructions and the QBInstall Tool should be able to fix the problem. Again, there’s no guarantee that it will work, but this tool can fix a variety of common errors and problems experienced during the software’s installation.
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Looking to change the opening balance on one or more of your bank accounts in Quickbooks? Everyone is bound to make a mistake when entering account balances at some point in time. If you happen to enter the wrong balance, or if you did not enter an opening balance, you can correct the problem by performing just a few simple steps. For step-by-step instructions on how to change an opening balance in Quickbooks, keep reading.
What is the Opening Balance?
The opening balance is essentially the very first entry on the bank register. By default, this entry is marked as “Reconciled.” It’s important to note that the opening balance entry must be deleted if you plan on entering historical transactions.
How to Fix Incorrect Opening Balance
To begin, go ahead and fire up your Quickbooks accounting software. Once the software has loaded, click the gear icon at the main navigation menu, followed by Chart of Accounts. This should bring up a list of all accounts associated with your Quickbooks software. Now, scroll through this list and choose the account on which the incorrect opening balance was made. Next, click Report, then change the transaction date to “All Dates.” Once complete, click “Run Report.”
With the report in hand, search for the Deposit posted with a Memo/Description of the Opening Balance. Click on the entry to open the balance, which should take you to the Bank Deposit. From here, you can change the amount of the opening balance. Double-check it to ensure that it is correct and click “Save” to complete the process. Sorry if you were expecting more, but that’s all it takes to fix an incorrect opening balance in Quickbooks.
Of course, changing the opening balance shouldn’t be confused with reconciling your account. Reconciling is done to identify (and fix) errors. It is performed by first running a Reconciliation Discrepancy report, at which point the report should reveal the error. You may then click “Restart Reconciliation” to fix the error. But if you think the error was caused by a previous reconciliation, you may want to undo the changes, in which case you should click the “Undo Last Reconciliation” button.
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So, you’ve made a payment that you would like to stop? Intuit’s popular accounting software Quickbooks makes this process a breeze, allowing users to void or delete payments. To learn more about this process and the necessary steps to perform it, keep reading.
Voiding vs Deleting: Which is Best?
It’s a common assumption that voiding a payment in Quickbooks is the same as deleting it. While they share some similarities, however, they are two unique processes with their own purpose. Voiding a payment, for instance, will alter the amount of the transaction to $0.00 while keeping a record of the transaction in Quickbooks. This makes it ideal for users who wish to maintain a record of the voided transaction, as it can be accessed anytime for reference purposes.
Deleting a payment, on the other hand, will remove the entire transaction and its respective history from your account. Furthermore, deleting a payment will trigger an unpaid status for the bill. This isn’t necessarily a bad thing, as deleting a payment is typically the best solution for accidental payments.
Regardless of which method you intend to use (deleting or voiding), you should first create a backup of your company file. Hopefully, nothing will happen to your original company file. But anytime you make major changes to your account, it’s always a good idea to create a backup copy beforehand.
After creating a backup of your company file, access your Quickbooks List menu > Chart of Accounts > Accounts payable. Now choose the specific bill payment in the register window that you wish to delete or void. If you can’t seem to find the payment, click the “Go to” option at the top menu to search for it. Under the Edit menu, you can either choose “Void Bill” to void the payment, or “Delete Bill” to remove the transaction and its history from your account. Sorry if you were expecting more, but that’s all it takes to void or delete a payment in Quickbooks!
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It’s been a long time in the making, but Intuit has finally sold its Quicken finance software. Market analysts have been expecting this move for quite some time, as Intuit has focused its resources primarily on Quickbooks, and rightfully so: Quickbooks remains the world’s leading accounting/finance software for small businesses.
Earlier this month, however, Intuit announced that it had sold Quicken to the Miami-based private equity firm H.I.G. Capital. Financial details of the transaction remain undisclosed.
Just last Year, Intuit issued a statement to the press during which it confirmed that it was selling three major parts of its company: Quicken, QuickBase and Demandforce. Given the positive and successful track record of these three products, you might be wondering why Intuit would even consider selling them in the first place. Well, when it announced the news, Intuit said that it was going to focus on its “most profitable” products and services, such as Desktop Quickbooks, Hosted Quickbooks, Quickbooks Online, and TurboTax. In January of this year, Intuit sold its Demandforce service to Internet Brands.
Intuit CEO went to say that Quicken lacked a cloud-based service. Quickbooks has been integrated into the cloud, with Intuit now offering a subscription-based cloud service for its popular small business accounting software. Instead of buying the full product, for instance, business owners and individuals can subscribe to a monthly pay to access and use the software. Cloud-based services have become increasingly popular in recent years, as they allow customers to pay for the usage of software and/or services instead of the actual product itself.
Because Quicken lacks any cloud-based service, however, Intuit didn’t see any value in keeping it — at least, that was the statement made by the company’s CEO last month when he announced plans to sell.
So, what’s in store for Quicken now that it’s in the hands of H.I.G. Capital? It’s still early to make any definitive statements, although Eric Dunn of Quicken published a video in which he said he was expressed excitement for the transaction.
“I am excited that I will be working with [H.I.G. Capital] as the future owners of the Quicken business, and as a significant personal investor in the transaction, as a part-owner myself,” said Eric Dunn, senior vice president and general manager of Quicken, in a video published on YouTube.
What do you think of Intuit’s decision to sell Quicken? Let us know in the comments section below!
Looking to run a report in Quickbooks that contains all vendor totals? There’s actually a quick and easy way to perform this operation. Assuming you have a licensed and active copy of the Quickbooks accounting software, follow the steps listed below to run a report with all vendor totals. Doing so will reveal all money paid to every vendor associated with your account.
When you are ready to being, fire up your Quickbooks account/software and choose the “Reports” option from the left-hand menu. Next, in the “Go to reports” section, enter “Transaction List by Date” and then choose “Transaction List by Date” followed by “Customize.” You should now enter the correct year for the transaction date. If you are trying to acquire a report for all vendor totals from 2013, for instance, you should choose 2013.
After specifying the transaction year date, choose “Vendor” under “Group By.” On the left-hand side, you’ll see a series of options. Click “Lists,” and then set the Transaction Type to Select Multiple, at which point you can add the following transaction types: Bill Payment Check, Bill Payment Credit Card, Cash, Check, Credit Card Expense, Credit Card Credit, Vendor Credits.
Although optional, some users may want to run a report on a particular vendor, in which case you should click the drop-down menu next to “Name” and choose the desired vendor. For reports on multiple vendors, choose the “Select Multiple” options. Doing so will allow you to choose multiple vendors at once. When you are finished choosing your desired vendors, click “OK” followed by “Run Report” to complete the process. Quickbooks will now compile a report in which all of your vendor payments are listed. You can click the “Excel” button at the top of this report for a total of all your payments. Sorry if you were expecting more, but that’s all it takes to a run a report with all vendor totals in Quickbooks!
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Quickbooks has become the de-facto standard for small business accounting software. Thousands of entrepreneurs and small business owners use the software to keep track of their finances — and there’s no signal indicating this trend will be going away anytime soon. If you’re still on the fence about using Quickbooks, just check out some of the many benefits that it offers listed below.
Ease of Accessibility
Accessing Quickbooks couldn’t be easier than its cloud-based support. Assuming you choose either Quickbooks Online or Hosted Quickbooks, you can access your account from any Internet-connected computer.
Another reason why so many small business owners choose Quickbooks is because of its reporting options. You can easily create custom financial reports within seconds, either printing, emailing or saving them to your computer for future reference. There’s no faster or easier way to create financial reports than by using Quickbooks.
Being that Quickbooks was created by Intuit, you can rest assured knowing that helpful and friendly support is available whenever you need it. If you ever have a question about how to use Quickbooks, you can reach out to their technical support team for fast and friendly assistance. And if you want an even higher level of assistance, consider using Hosted Quickbooks, as this gives you to access technical support from both Intuit as well as the respective third-party hosting company.
Some people assume that Quickbooks is too difficult and complicated for them to use, so they stick with good old fashioned notepads for keeping track of their financial records. In reality, though, Quickbooks has been optimized to provide a user-friendly interface so that anyone can use it. Whether you are familiar with the service or not, you should have little-to-no problem navigating your way through the Quickbooks ecosystem.
The benefits of Quickbooks don’t end there. The popular accounting software also supports expense billing features. This means you can keep track of all business-related expenses, ranging from small purchases like business dinners to larger expenses like international travel, product purchases, etc. Quickbooks has been designed to allow for simple and effective expense billing, eliminating the headaches that normally go into this process.
Still trying to figure out how to record a loan payable in Quickbooks? If you are reading this, I’m going to assume the answer is yes. Quickbooks is a loaded with features to streamline your accounting, including the ability to record loan payables. To learn more about this feature, keep reading.
The first step in the process of recording a loan payable is to create a liability account. Here’s where things get tricky, though: if you plan on repaying the loan within the current fiscal year, you’ll need to create the liability account from “Other Current Liability (or Current Liabilities.” If you do you not plan on repaying the loan within the current fiscal period, you’ll need to choose “Long Term Liability (or non-current liabilities.”
Assuming you plan on repaying the loan within the current fiscal period, you can record it by logging into your account and clicking the Gear Icon > Chart of Accounts > New > Other Current Liabilities (or Current Liabilities) > Loan Payable > and then enter a name for the loan. Names are completely optional, but using one will help you remember what the loan is for. When you are finished, click Finish to complete the setup.
Now that your loan has been created, it’s time to enter a balance for it. From the default Quickbooks home screen, click the + icon > Bank Deposit > Deposit To > and enter the date of the deposit. Next, enter the Loan Payable amount that you just created under the “Accounts” column and click Save.
Of course, you’ll probably be making payments towards your loan on a regular basis, in which case you’ll need to record them in Quickbooks. This is done by clicking the + icon > Check/Cheque > now enter the check for the appropriate amount and complete the other required fields. Quickbooks also has a helpful option that allows users to set up recurring payments for loans. This is done by ticking the box “Make Recurring,” at which point the payment will be send on the specified date each month.
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Death Wish Coffee has won Intuit’s Quickbooks Small Business Big Game contest, for which it will be awarded with a free 30-second television commercial. This isn’t just any TV commercial, however. The maker of “the world’s strongest coffee” will receive a free ad spot during the world’s most watched program: the Super Bowl.
Intuit announced its Small Business Big Game contest last year, inviting small businesses throughout the country to participate in the contest. After Intuit had selected 10 finalists, the public was given the option to vote for which small business they believe should be awarded with the Super Bowl commercial. And it appears that the public has spoken, because the popular Quickbooks maker just recently announced Death Wish Coffee as the winner.
At first glance, a free TV ad may not sound all that appealing, but you have to remember that it’s for the Super Bowl — the most watched live program in the world. According to Wikipedia, the cost for a standard 30-second commercial during Super Bowl XLVII and Super Bowl XLVIII was $4 million, while the cost for a similar 30-second commercial during Super Bowl XLIX was $4.5 million. It’s safe to assume this year’s Super Bowl will come with an even larger price tag for advertisers, possibly hitting the $5 million.
“It’s incredibly gratifying to create a Super Bowl spot for a small business—the unsung heroes of the communities where we live and work every day,” said Joe Baratelli, CPA chief creative officer at Intuit. “And Death Wish Coffee has an incredible brand personality and a great team driving the company. We were able to create a spectacle of Vikings sailing to battle to show off the fiercely caffeinated coffee and ultimately help QuickBooks with its mission of fueling small business success.”
Death Wish Coffee currently has just 11 employees, but it’s safe to assume its workforce will grow after tens of millions of people see the brand advertised during the upcoming Super Bowl.
Of course, this isn’t the first time that Intuit has given away a free Super Bowl commercial. Just last year, the company awarded GoldieBox, a small business that produces educational toys, with a similar 30-second ad spot. Intuit has said that it also plans to host the event next year. So in case you didn’t win this year’s Super Bowl commercial, you may still be able to score one next year.