Connect with Quickbookscustomerservicenumber.com in house support team via Toll Free Number 1(844) 640-1482 to gain instant knowledge and resolution for all sorts of QuickBooks Errors.Here is the List of Common Errors:1. Not Setting Sales Tax Preferences2. Not Reconciling Accounts3. Writing a Check Without Entering a Bill4. Using the write Checks Window to Pay Payroll Taxes5. Not Reviewing P&L and Balance Sheet Statements6. Too Many Accounts and Sub-Accounts7. Entering a Bill or Writing a Check for Loan Payments8. Not Backing Up the Data
Here is a list of the 10 most common QuickBooks® reporting errors and how to avoid them:
How to Avoid Most Common QuickBooks Errors
If sales tax is owed on items that a business sells, the sales tax preferences must be set up in QuickBooks® to keep the records accurate. To set sales tax preferences, go to Edit-Preferences-Sales Tax icon-Company Preferences-Owe Sales Tax and then choose either As of Invoice Date or Upon Receipt of payment.
1. Not Setting Sales Tax Preferences
To ensure the business account register is correct, accounts must be regularly reconciled. This includes checking and savings accounts, loans, taxes and more. To reconcile an account, open the Banking section, click on Reconcile, then enter statement dates and end balances.
2. Not Reconciling Accounts
When a bill arrives, some business owners imply use the Write Check feature to pay the bill. The first step when a new bill arrives should be to enter the bill in the Enter Bills window. This creates an accounts payable. Then, go to Pay Bills and indicate the bill you want to pay.
3. Writing a Check Without Entering a Bill
As payroll is processed, QuickBooks® reporting software keeps track of how much payroll tax the business owes and records that amount in the Payroll Liabilities window. However, if payrolls taxes are paid in the Write Checks window, the amount paid will not be properly deducted from the Payroll Liabilities window.
4. Using the write Checks Window to Pay Payroll Taxes
These statements give valuable information about the health of the business and can help catch errors before they become costly mistakes. These valuable statements should be reviewed regularly.
5. Not Reviewing P&L and Balance Sheet Statements
Many business owners use the Enter a Bill or the Write a Check windows to make loan payments each month. A better strategy is to go to Banking—Loan Manager—Set Up a New Loan. After following the directions to set up the loan, the next step is to click the Set Up Payment option.
6. Too Many Accounts and Sub-Accounts
One benefit of QuickBooks® financial reporting software is the ability to create accounts and further organize them into sub-accounts.
7. Entering a Bill or Writing a Check for Loan Payments
It’s best to plan for the unexpected. In this case, that would be a computer crash that wipes out the QuickBooks® reporting files. Business QuickBooks® files should be backed up at the end of each day they are used.
8. Not Backing Up the Data
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