Top 5 QuickBooks Questions

1. Ever wonder why after very nicely downloading transactions from your bank account or Credit Card Company the balances never seem right? Of course there are uncleared items in your register; but sometimes the download gets confused about where it left off the last time you downloaded. This can cause duplicate transactions. Review your registers and see if you have duplicates (hint: check the register around the last download date) and just delete them.

2. Why does my sales tax have such a large balance even though I pay it right on time? You probably did not use the "manage sales tax" button on the home page; then select pay sales tax (Hint: make sure you edit the dates for the period end you are paying).

3. Can I add my logo or customize my invoices/estimates/sales orders? Yes you can. In QuickBooks Support Phone Number 2018 and prior open an invoice and in the upper right hand corner select the "customize" button. In 2013 go to the menu bar and select formatting; from here you can copy a template, edit the current one or import already created templates. You can have multiple templates for various uses. To add your logo, in the customize window, select the basic customization button at the bottom of the screen. Not enough customization? Go to Layout Designer; here you can add text boxes, move things around, etc. Just remember that whenever you use this template every invoice/estimate/sales order will have the customizations.

4. What is the Undeposited funds account? QuickBooks is designed to mirror real life. You probably don't deposit checks one at a time. You probably go to the bank with multiple checks. When your bank statement comes you don't see the detail of the deposit, you only see the deposit total. It can be difficult to reconcile if you have individual checks in your register. What to do? When you receive in payments from customers in the receive payment window the money should be going to undeposited funds. When you finally do get to the bank go to "make deposits" and the list of Undeposited funds will come up; from here select the checks you are depositing, select OK and there is your total deposit.

5. How do I customize the homepage? Select edit/preferences/desktop view/company preferences; from here you can select functionality to turn on or off. Hint: you can also customize the icon bar by right clicking the bar and selecting "customizing the icon bar" Here you can add/remove/move around, etc.

4:  1099's for QuickBooks 2018

Okay as promised here's the article for 1099-MISC using QuickBooks 2018. Let me give you the steps first.

1. Select your 1099s vendors

2. Verify vendor information, i.e. that you have the correct address and tax ID

3. Map the accounts that you used to pay your various 1099s vendors

4. Review your vendor payments. Beginning in 2011 the IRS now requires you to exclude any payments you made to your vendors by:

a. credit card

b. debit card gift card

c. third-party payment networks such as PayPal.

5. Confirm your 1099-MISC entries

6. Choose your filing method -- printing forms or E-filing

They have given the Wizard a facelift. But don't panic, the Wizard still walks you through. The Wizard will be a little different depending on whether this is the first time you are setting up 1099's in QuickBooks or if you simply need to review and edit before filing. I will admit there were a couple areas that threw me, but I will try to point those out to make it easier for you:-)

1 Review your Vendor List and select all those who need 1099's.

Do take the time to review because most likely you have picked up some new Vendors in 2011 and you want to be sure that if they need a 1099, that you have them marked appropriately. This automatically assumes last year. Which is fine if it's 2018 and you're doing 2011 or it's 2013 and you're doing 2018. But, if you're trying to review before year-end, then there are a couple other methods I would recommend - I'll highlight one of them later in this article.

2 Make sure you have a Tax ID and complete address for each 1099 vendor

An Aside: If you have a large list of vendors, or you're working on names in the current year, here's another way to verify they are marked 1099 eligible, you have the Tax ID and address. Click on Lists-Add/Edit Multiple List Items, then select the vendor list and customize the columns so all the appropriate fields are easily seen and can be edited.

3 Map Vendor Payment Accounts

I will admit the mapping stage is what threw me the most. By default, QuickBooks shows only those accounts that are mapped for 1099's. If you need to review or select others, then you can Show all accounts.

Another facet that threw me, but perhaps not you, is that when all the accounts are shown, they are listed alphabetically instead of the traditional accounting order in the Chart of Accounts. Some of you non- accountants may really like it, but I will admit I did not!

The next part that threw me was the statement Your settings do not match the current IRS thresholds. The fix is to click on Show IRS thresholds, then click on Reset.

4 IMPORTANT: This step is for the new IRS regulations

If you use credit cards or PayPal or some other third party network to pay some of your vendors on a regular basis or occasionally then you really need to pay attention to this particular step.

Click on View Included Payments and you will see the payments made by checks.

However many of you have PayPal set up as bank account in QuickBooks and when you make payments from PayPal then you may either have a PayPal transaction number for the check number or you may have left it blank. What QuickBooks is telling you to do here is to put the form of payment in the check number.

Then when you click on View Excluded Payments, you'll see your debit cards, gift cards, and PayPal. Credit cards don't show in this report since QuickBooks is easily able to isolate those transactions.

5 Confirm your 1099 amounts

You can look at other years, see a summary or detail report to help you verify these numbers.

6 Choose your filing method - print or e-file

For you "old-timers" like me, this process is different, but Intuit has really tried hard to make it as easy as possible. Let me know if you have any questions or problems.

Muir & Associates helps businesses use their Intuit products more efficiently and more effectively so businesses can focus on their business and make more informed decisions. We provide sales and support services. Monica Mitchell Muir has been helping businesses with their QuickBooks products since 1996.

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