QuickBooks Help and Small Business

Posts Tagged ‘lacrews bookkeeping’

QuickBooks Loan Manager

Friday, July 23rd, 2010 by lacrews

The Loan Manager feature in QuickBooks helps you track the loans that you’ve set up based on the information in your Long-term Liability and Other Current Liability accounts. When you use the Loan Manager, you can keep track of all your loans in one location and be reminded of upcoming payments.

When you’re ready to add a loan to the Loan Manager, have your loan documents in hand. You’ll need them for the origination date, payment amount, term, escrow amount (if any), interest rate, and other information.

For a new loan, set up a liability account for the loan. When you add the account and lender details, include any information you want the Loan Manager to use for tracking, such as the account number and lender contact information. This information can be found on your loan documents. Be sure that you enter the correct opening balance for the account. Otherwise, you will not be able to set up payments from the loan manager. Set up an expense account for tracking the loan interest. If you need to make escrow payments to the loan, set up an escrow account for them.

Correct set up of your loans in Loan Manager will help you categorize interest and principal payments.

Tags: escrow, interest, lacrews bookkeeping, lender, liability account, loan manager, loan payments, opening balance, principal, QuickBooks
Posted in Quick Tips, QuickBooks | No Comments »

The Center for Non-Profit Excellence Presents…

Friday, July 16th, 2010 by lacrews

Setting Up a Bookkeeping System for Your Organization

WHEN: Thursday, July 29 9:00a to 12:00p

WHERE: Virginia Foundation for the Humanities, Charlottesville, VA

WHAT: Whether simple or complex, if you are to fulfill your mission, a bookkeeping system is a key ingredient for your organization. Join Mark & Andrea Crews, of LaCrews Bookkeeping, to learn tips for setting up an effective bookkeeping system, choosing the right software for your organization, and options for dealing with payroll. This session will offer tips for organizations large and small. Nonprofit executives, business managers, board chairs, and board treasurers are encouraged to attend.

FEE: $25 for CNE members; $50 for non-members

Advance Registration Appreciated: tinyurl.com/2by9lbb

Tags: board chairs, bookkeeper, bookkeeping, business managers, center for non-profit excellence, charlottesville, cne, executive directors, lacrews bookkeeping, nonprofit executives, small business software, treasurers, virginia foundation
Posted in Real Life Business Issues, Small Business Advice | No Comments »

How Do I Enter Gift Certificates in QuickBooks?

Friday, July 9th, 2010 by lacrews

Do you sell gift certificates? You should be tracking your gift certificate liability; that is, how much in gift certificate sales your customers are entitled to redeem in the future.

If Ms. Smith buys a $100 gift certificate from you then comes back a month later and makes a purchase, how will you record these transactions in QuickBooks?

Before Ms. Smith even shows up on your doorstep, you will need to create a new Other Liability Account called “Gift Certificates Sold” or similar. Then, set up two new items on your Item List: one for sales of gift certificates and one for customer redemption of a gift certificate. Both of these new items will point to the same new account: “Gift Certificates Sold”.

Now, here comes Ms. Smith with her $100 ready to buy your gift certificate. Enter her gift certificate purchase in the Create Sales Receipts window using the new Item you created for sales of gift certificates. You have now increased the “Gift Certificates Sold” liability account by $100.

Next month, Ms. Smith buys $100 worth of product/service from you. In the Create Invoices window, you will have two lines on the invoice. The first line lists the Item that corresponds to the product/service she is purchasing today for $100. The second line on this invoice is the other new Item you created for customer redemption of a gift certificate in the amount of -$100. Save & Close, and this invoice completes the accounting for this gift certificate: you decreased the “Gift Certificates Sold” liability account and booked the income on your product/service.

If you set expiration dates on the gift certificates you sell, periodically you or your accountant will make a journal entry to move the amount of expired certificates from the “Gift Certificates Sold” liability account to an Income account.

Tags: accountant, gift certificates, gift certificates sold, item list, lacrews bookkeeping, learn quickbooks, liability account, QuickBooks, redemption of a gift certificate
Posted in Quick Tips, QuickBooks, Real Life Business Issues, Seminars & Instruction | No Comments »

Free QuickBooks Training in June

Tuesday, May 25th, 2010 by lacrews

FOR IMMEDIATE RELEASE (reading time 1 minute 35 seconds)

Free On Demand QuickBooks Training Course

Charlottesville, VA — May, 25, 2010 - In honor of this year’s Bonnaroo™ Music and Arts Festival, LaCrews Bookkeeping is pleased to offer its On Demand QuickBooks training course for FREE. From June 1st through June 30th, you can visit the company’s website to take advantage of this limited-time offer: www.LaCrews.com

“We’re calling it our Jammin’ June Special,” commented Andrea Crews, Senior Certified QuickBooks ProAdvisor. “Each June, we go to Bonnaroo™ to unwind in the hot Tennessee sun and enjoy an array of musical artists. With this relaxed spirit in mind, we decided to share our On Demand QuickBooks™ training course with everyone.” Crews is also the Video Instructor.

This convenient and comprehensive self-study course permits a student to learn at his or her own pace whenever they have time and wherever they have an internet connection. An on-line student creates a user name and password to view more than seventy-five (75) high quality flash video lessons. In addition, there is a companion guide and a sample QuickBooks™ data file to use with each exercise. Topics range from set up to customization of the software’s numerous features.

“We debuted our On Demand QuickBooks™ training course in early 2010. People have different learning styles: hearing, seeing, or doing. For example, a student may decide to download a chapter in the handbook and try the exercises on his or her own. If that student gets stuck, he or she can watch the corresponding flash video for the correct procedure and QuickBooks™ keystrokes,” commented Mark Crews, Producer and Senior Certified QuickBooks ProAdvisor.

Many non-profits and small business owners don’t have the internal resources to effectively manage their books. Some have down-sized forcing a family member or other employee to be the bookkeeper. Not only will the On Demand QuickBooks™ training course provide these new users with a good foundation, it answers very common problems and questions. Confidence plus control equals happy bookkeepers and business owners.

LaCrews Bookkeeping is staffed with Certified QuickBooks™ ProAdvisors and has taught QuickBooks™ classes for the Small Business Development Center. They help small businesses and non-profits get the most out of QuickBooks™. For their free on-line, On Demand QuickBooks™ training course, call LaCrews Bookkeeping at (434) 326-4112, toll-free at (877) 528-2560, or visit www.LaCrews.com.

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Tags: bonnaroo, free QuickBooks training, free quickbooks training online, free quickbooks tutorial, lacrews bookkeeping, learn how to use quickbooks, learn quickbooks, learn to use quickbooks free, on demand, online quickbooks training free, online self paced quickbooks training, QuickBooks, quickbooks help, quickbooks online, quickbooks pro, quickbooks proadvisor, quickbooks video instruction, small business software
Posted in QuickBooks, Real Life Business Issues, Seminars & Instruction, Small Business Advice | No Comments »

LaCrews Bookkeeping’s Blog

Posts Tagged ‘lacrews bookkeeping’

QuickBooks Loan Manager

The Center for Non-Profit Excellence Presents…

How Do I Enter Gift Certificates in QuickBooks?

Free QuickBooks Training in June

Free On Demand QuickBooks Training Course

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