Helpful Tips

Helpful Tips


  • request a statement with a month-end closing date as it saves time when reconciling records with the bank
  • review and reconcile statements immediately as this helps reduce fraud and keeps the books current
  • each entity should have its own checking account, but only open as many accounts as is necessary


  • consistency is essential to successful business bookkeeping
  • heading and saving your spreadsheets the same way each month thru the year will save you and your accountant time and aggravation


  • cash accounting system is much simpler and will suffice for most small businesses
  • call us at (818) 378-3638 for questions and guidance


  • a little time setting up your chart of accounts will pay huge dividends
  • think about your business and the information you would like to know to run it efficiently
  • be sure to review this with us – you want to be sure to have the right amount of detail for your business
  • determine expense categories by looking at tax return you will file


  • if you use many invoices each month, you may want to have invoices preprinted, including invoice number
  • will look more professional and you will probably get paid quicker
  • print invoices with perforation — tear off and return it with payment
  • print your name and “remit to” address on both sides of the perforation


  • deposit all cash immediately
  • record your daily deposit in a deposit ticket book that comes with a white (original) copy and yellow (duplicate) copy give the white copy to the bank and leave the duplicate in the book to aid in reconciliation of the bank statement


  • have an electronic calendar that contains due date reminders


  • start new file folders each year for paid invoices and paid bills
  • may not need a folder for each customer or vendor unless there is a large volume of business
  • possibly get by with a folder for A – C, D – F, and so on


  • keep all invoices and checks in numeric order the thing to remember is never skip numbers
  • record voids in numeric order with other items, only denote as “voided”
  • a healthy business is monitored through its records on a regular basis
  • you can find problems and correct them before it’s too late
  • different people use different record-keeping systems what matters most is that you have a system and use it daily


  • try to minimize using cash, but if you must use it get a locking metal cash box to hold currency and coins
  • any money used is replaced by the receipt for that purchase
  • cash plus receipts should remain at a constant dollar amount
  • continue using the petty cash box until you run out of cash
  • replenish the box by writing a check for “cash”, expensing all the receipts


  • keep all your records for one year together and number the boxes
  • bank statements, checks, financial statements, paid bills and other backup
  • include a copy of that year’s tax return
  • label with the year and contents, then store it somewhere accessible and keep a master list of the box and its content

QuickBooks Keyboard Shortcuts

Use the QuickBooks keyboard shortcuts shown in the following table to make your day-to-day small business accounting easier and faster:

Ctrl+A Displays the Chart of Accounts window
Ctrl+C Copies your selection to the Clipboard
Ctrl+D Deletes entire transaction (i.e., check, invoice, deposit, etc.)
Ctrl+E Edits transaction selected in the register
Ctrl+F Displays the Find window
Ctrl+G Goes to the other side of a transfer transaction
Ctrl+I Displays the Create Invoice window
Ctrl+J Displays the Customer List
Ctrl+M Memorizes a transaction
Ctrl+N Creates a new transaction. Context sensitive (e.g., if you are in the check register, you will create a new check, or deposit if a deposit is highlighted)
Ctrl+P Almost always prints the currently active register, list, or form
Ctrl+Q Creates and displays a QuickReport on the selected transaction
Ctrl+R Displays the Register window
Ctrl+R Displays the Register window
Ctrl+T Displays the memorized transaction list
Ctrl+V Pastes the contents of the Clipboard
Ctrl+W Displays the Write Checks window
Ctrl+X Cuts and moves your selection to the Clipboard
Ctrl+Z Undoes your last action — usually
Ctrl+Insert Inserts a line into a list of items or expenses
Ctrl+Delete Deletes the selected line from a list of items or expenses


QuickBooks Calculation and Editing Tricks

If the selection cursor is in an amount field in QuickBooks, you can use these symbol keys to make calculations:

Press This Key This Happens

+ Adds the number you just typed to the next number you type
Subtracts the next number you type from the number you just typed
* Multiplies the number you just typed by the next number you type
/ Divides the number you just typed by the next number you type

If the selection cursor is on a date field, you can use these tricks to edit the date:

Press This Key This Happens

+ Adds one day to the date shown
T Replaces the date shown with today’s date
Subtracts one day from the date shown
Y Changes the date to the first day in the year
R Changes the date to the last day in the year
M Changes the date to the last day in the month


Right-Click for Common QuickBooks Tasks

To perform a common QuickBooks task related to a window, right-click to display a shortcut menu. In a register, select and right-click a specific transaction; in a list, right-click an item; in a form, display a transaction and right-click a blank area of the form.

QuickBooks displays a shortcut menu of common commands for the particular transaction, item, or window. For example, it often displays commands for memorizing or voiding the transaction or for creating a QuickReport on the transaction. The commands differ based on the type of transaction you select.

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