QuickBooks: Advanced Bookkeeping Techniques – Bonnie Biafore

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Master tricky income, expense, and banking transactions in QuickBooks with these tips and techniques from Bonnie Biafore. First, learn best practices for categorizing and analyzing data, so you can get a better financial picture of the business. Then discover how to work with customer deposits, prepayments, and credits and refunds. You’ll also learn how to correct misapplied payments and explore the opposite side of the “coin”: special expenses such as vendor deposits and refunds. Find out how to track special income such as consignments and trades. Bonnie also shows viewers how to handle bounced checks—to and from customers and vendors—as well as troubleshoot bank reconciliations and uncleared transactions.

Topics include:

• Recall the information displayed in subaccounts.
• Explain how to view and track overhead costs.
• Summarize the steps to view all expenses related to a specific job.
• Recall the steps for categorizing customers, jobs, and vendors.
• Describe two methods for recording prepayments.
• Identify the steps for selling consignment goods.
• List two documents you can use to record a refund.
• Explain how to handle a bounced check.
• Detail your next steps if you cannot reconcile a bank statement.