Q1. How to Reconcile Your bank accounts?

For reconciling your bank account, follow the steps mentioned below:

  • For selecting Reconcile option go to Company icon on top corner and click on Tools
  • A drop down menu will appear, select your Account > bank account that you want to reconcile> Click Reconcile Now.
  • Enter end date, then Statement Ending Date and balance. Now, Ending Balance from your bank statement and click OK.
  • In the Reconcile window from drop down menu select account. Click the date to see the report. Click Reconcile Now option.

Q2. How to set up a company in QuickBooks online?

For creating a company on QuickBooks, follow the below steps:

  • Go to QuickBooks sign up page. Set Up wizard page will appear on the screen.
  • A drop down menu will appear, select your Account > bank account that you want to reconcile> Click Reconcile Now.
  • Fill the basic information and click Next.
  • Enter the company information required like industry, you sell, company type and all and select Next.
  • After entering details, QuickBooks will process all information and land on QuickBooks Homepage.
  • After creating a company, you can enter other details like GST, can make transactions and change the company settings.

Q3. Can QuickBooks Recover a Deleted Transaction?

To recover deleted entries in QuickBooks:

  • Go to Reports, select Accountant & Taxes and click on Voided/Deleted Transactions Summary
  • Select "From" date run box and click the day on which transaction was erased. For the "To" date, pick either that day, or run the report by the week or month.
  • Click on the "Refresh" option and the Audit Trail will show all transactions made within those days.

Q4. Forgot QuickBooks password and need it reset

For resetting the password, perform the steps mentioned underneath:

  • On QuickBooks login page, click on ‘I forgot my password’ option.
  • A security question will appear on screen. Click OK after submitting answer.
  • A dialog box will appear with a message on screen. Click Close.
  • Change QuickBooks Password box will open. Enter a new password and new challenge question. Click OK.

Q5. QuickBooks runs slow in multi user mode

For better performance, make sure to install QuickBooks or QuickBooks server on same system where company file is stored. Below are the tips which can help:

Where to store Company document:

  • Your system must meet the prerequisite for memory, processor and disk space as indicated in QuickBooks Reference.
  • Select a computer that has not been utilized.

Changing QuickBooks preferences to enhance performance:

  • Don't require an update, go to Preferences and click "Don't Remind Me".
  • Report on QuickBooks refresh automatically which slow down the performance. Go to Report and Graphs option and select "Don't Refresh".

Printing tips:

  • Break your print jobs in to groups if you are printing many forms or checks
  • Turn on print spooling option while printing.
  • Try to avoid a large report if file is accessed by two or more users.

Q6. How to Close the Books in QuickBooks

Steps to follow while closing books on QuickBooks:

  • Select Gear icon, go to Company Settings/ Account and Settings.
  • Select Advanced.
  • Click Edit option on Accounting section.
  • Click to mark the Closing the Books checkbox.
  • Enter closing date. Transactions dated on or before end date can't be changed.
  • Choose what you want clients to check whether they try to save or store a transaction which is dated before the end date:
  • Pick Allow changes after viewing a warning to make a notice message show up.
  • Pick Allow changes after viewing a warning and entering a password to make the client additionally enter a password.
  • Click Save and Done.