BizNet OnLine Magazine, QuickBooks Corner, 10 REASONS WHY I REALLY LIKE THE NEW 2002 VERSION

QuickBooks Corner – Tips & News about QuickBooks
By Sharon Wolfe, QuickBooks Certified Professional Advisor

10 REASONS WHY I REALLY LIKE THE NEW 2002 VERSION

It took awhile, but I’m really sold on the new QuickBooks 2002! Here are just 10 reasons why:

#1 – It will print 1099’s even if you do not have payroll tax tables (all prior versions no longer will print 1099’s unless you also have payroll working – basic or online).

#2 – If you use manual checks and then re-enter the checks into QuickBooks when you use the Pay Bills feature (which a lot of our clients do), this version lets you assign check numbers as you pay bills. This is a big time-saver feature.

#3 - If you need to, you can reverse any journal entry. Reversing an entry creates a new entry, dated the first day of the next month, which reverses the debit and credit amounts. Account assignments are not affected.

#4 - Improvements to the reconcile feature make reconciling easier. Now you can see more transactions in the Reconcile window with a new layout. In addition, the reconciliation date is stored with each transaction, allowing you to create reports based on that date. The reports reflect changed or deleted transactions for that date. You can access the reports from both the Reconcile window and the reports menu. These reports include:

Reconcile Discrepancy report shows which cleared transactions have changed since you last reconciled a particular account.

Reconciliation Summary report and the Reconciliation Detail report, which let you go back to a previous reconciliation and see which transactions were cleared, what the beginning and ending balances were, etc.

#5 - Do you have a large company file that is slowing down your productivity in QuickBooks? Now QuickBooks can make a full copy of your file and store it on your hard drive, where you can access it at any time. Condensing your active company file makes it smaller, so it works faster with QuickBooks. In addition, QuickBooks makes a full copy of your file and stores it on your hard drive, where you can access it at any time.

#6 - Easily track customer payments by applying a single payment to multiple jobs instead of entering separate payments for each job. In addition, you can apply specific credits to specific invoices.

#7 - Apply a customer discount or credit directly to a specific invoice (statement, etc.)

#8 - A new Go to Invoice button allows you to view an outstanding invoice directly from the Receive Payments window.

#9 - Clearly track customer payments as QuickBooks automatically marks invoices with a PAID stamp.

And last but not least #10 –

Adjust the amount of sales tax due without having to use the Make General Journal window. HOW?

1 From the Vendors menu, choose Sales Tax and then choose Adjust Sales Tax Due.

2 Choose the sales tax vendor whose sales tax you want to adjust.

3 Enter an appropriate adjustment account in the account field.

4 Choose whether to increase or decrease sales tax and then enter a numeric amount.

5 You can enter a memo to record why you made the adjustment. (Optional)

6 Click OK.

Yes, I am sold on version 2002!

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