Best Practices for Accounting Using QuickBooks

QuickBooks is undoubtedly one of the leading accounting software programs. It has become very famous due to its user friendly interface and high security features.

There are many different versions of QuickBooks including desktop, online, and mobile apps. However, it’s important to know how to use each version properly so you can maximize your productivity while minimizing mistakes.

If you want to start using QuickBooks then you should go through some of these points before starting with it.

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There are several things that you should consider before buying or installing the program.

The first thing that comes into our mind is the price of the package. There are many packages available in the market but choosing the best package can cost you hundreds or even thousands of dollars.

For those who don’t know, QuickBooks provides a free trial version for 30 days. After that, you can continue to use it at no additional charge. This means you won’t have to pay anything extra to use the software.

Even though it offers excellent features, only experienced users can use them properly.

5 Best Practices for Accounting Using QuickBooks:

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QuickBooks is undoubtedly one of the leading accounting software programs. It has become very famous due  to its user-friendly interface and high security features.

There are many different versions of QuickBooks including desktop, online, and mobileapps. Here are the a few best practices for accounting:

Split Screen:

QuickBooks offers split screen feature where you can add multiple users to your account and monitor their progress separately.

It allows you to manage multiple clients or employees from single window.

You can easily monitor both cash flow as well as expenses as well as track sales and income individually.

With this feature, you can organize your work according to individual clients, everything related to your business from one dashboard.

This tool lets you split the display between two windows simultaneously, allowing you to work on both projects at once.

You must keep in mind that you cannot always access all information in one window because if you do, the data may overlap.

To avoid any confusion, we recommend splitting the window by using the split function. You can also add columns to the left side of the window to see additional details.

As soon as you finish working with the project, simply click on the close button on the upper right corner of the window and everything will be reset back to default. You can now switch to another window and continue working.


QuickBooks provides us with a bunch of tools to help us do our work efficiently. One of these tools is t-sheet. T-sheets are basically sheets where we put our transactions in columns and rows. They allow us to see what happened during a specific period of time. The beauty of this tool is that it allows you to see all the transactions from the previous day to today.

It helps you track sales and purchases for any given account. T-sheets can be created manually or by importing data from spreadsheets.

TSheets accurately tracks employee time and schedules using its robust set of features such as project management, reporting, billing, invoicing, and many others. Its intuitive interface makes it easy to use and learn.

Recurring entries

Quickbooks allows you to set up recurring transactions. These include expenses, income, bills, etc. They can be setup by date or time.

You can easily track what is happening every week, month, quarter, year, etc.

Recurring Entries allow you to record the same transaction multiple times throughout the year.

It’s similar to creating a separate invoice for each day of the year.

Reclassify and Move transactions

Quickbooks allows users to reclassify and move accounts from one class to another. You may think that this concept is only restricted to businesses and organizations. But it does apply to personal finances as well.

For instance, if you are an individual who works part time, you might find yourself having more expenses than income during certain months of the year. In order to keep track of all of your money, you could classify your spending as business expenses and then simply transfer the category to your personal account when the month ends.

Create Banking Rules:

Bank Rules is a powerful tool for automating certain financial activities. You can name the Rule, set prerequisites like transaction types, payees, categories and tags. Once you’ve created all the necessary rules, you can apply them to specific accounts by selecting which account you want to work with.

Most use QuickBooks Shortcuts – The highlighted one:

QuickBooks shortcuts are small tools that can help you save time when dealing with various tasks within the application. They allow you to perform actions quickly and efficiently, saving you precious time.

Open the Check windowCtrl+Alt+W
Open the Expense windowCtrl+Alt+X
Open the Estimate windowCtrl+Alt+E
Open the Invoice Transaction windowCtrl+Alt+I
Open the Receive Payment windowCtrl+Alt+R
Display HelpCtrl+Alt+H
Display the Lists pageCtrl+Alt+L
Display the Customers pageCtrl+Alt+C
Display the Vendors pageCtrl+Alt+V
Display the Chart of Accounts pageCtrl+Alt+A
Display the Search Transactions pageCtrl+Alt+F
Display keyboard shortcutsCtrl+Alt+/

Train your client on how to use QuickBooks:

You should always train your clients on how to use the system because if you do not instruct them properly then you may end up spending lots of time fixing their work instead of making money.

So you must teach them everything from setting up the company file to adding payroll information.

They should be able to understand what the program does and how it works. Otherwise, they will waste time trying to figure out why certain things are happening when they could be working on something else.

They should also learn how to add customers, employees, vendors, etc. They should try to keep track of every transaction and document it properly.

When you train your clients on how the program works, they will appreciate your services and give you good reviews which will help you grow your business.