How T-Accounts help
Each Account has it’s own T-Account. This allows proper transaction tracking of Debits and Credits.
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Exit Screen in QuickBooks® Online Keyboard Shortcut
While on any transaction screen in QuickBooks® Online you can quickly exit that screen by simply using the keyboard shortcut Ctrl + Alt + X (Ctrl + Option + X for Mac users). The next time you need to exit a transaction screen in QuickBooks® Online, try using the keyboard shortcut Ctrl + Alt +…
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May 2018 Update
Just wanted to share some news about what happened in May and plans for the future. Video recording started on my newest course: 7 Ways to Improve your QuickBooks® Online Workflow. This course is all about saving time and being more efficient in QuickBooks® Online. It should be released near the end of June/early part of…
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Anatomy of a T-Account
A T-Account visually represents the impact transactions have on a particular account. As seen in the image, the white “T” allows space for an Account Name (at the top), Debit Side (Left), and Credit Side (Right). It’s a simple visual that helps when trying to understand the balance of an account.
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How to Create a Custom Field in QuickBooks Desktop
Custom fields can be very useful and thankfully QuickBooks allows you to create your own. In the example I created for this tutorial, I thought it’d be a good idea to create a custom field called “Contract Numbers” for Customers and Jobs. This could be very useful when running reports as you can add the…
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Previous Day QuickBooks® Online Keyboard Shortcut
While the cursor is in the date field on a transaction or report, you can quickly access the previous day by simply clicking the – key on your keyboard. The next time you need to access the previous day in QuickBooks® Online, try using the keyboard shortcut –.
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Normal Balance: Expense
The normal balance of an Expense Account is a Debit. So, if you purchased $450 worth of office supplies, it means you have a $450 Debit in the Office Supplies account.
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Next Day QuickBooks® Online Keyboard Shortcut
While the cursor is in the date field on a transaction or report, you can quickly access the next day by simply clicking the + key on your keyboard. The next time you need to access the next day in QuickBooks® Online, try using the keyboard shortcut +.
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Normal Balance: Revenue
The normal balance of a Revenue Account is a Credit. So, if you earned $750 from selling widgets (Sales), it means you have a $750 Credit in the Sales account.
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