When filtering reports in QuickBooks, you may want to select most of
the items on a particular list, but not all items to appear on your
report. First choose the "selected" option from the list (selected
accounts, selected names, etc).
Normally you would check each item that you want to appear on your
report. However, if you want to check all the items on the list, click
the first item and do not release the mouse button. While holding down
the mouse button, slide the mouse pointer down just below the list.
When QuickBooks is done � all of the items on the list will be
checked. Release the mouse button. Now you can manually click the
items to remove the ones that you do not wish to include in your
filter.
To allow the sharing of your QuickBooks file, your best option is
to have a computer network in place. This network will provide the
foundation for you to then share the file between two or more
computers. You can have either a wired or wireless network within your
office.
It is also possible to take a backup copy of the QuickBooks file
from one computer and restore it to a second computer to allow sharing
of the information. However, I don't recommend this if both computers
will be entering QuickBooks data. If you do this, you won't know who
has the most recent copy of the data file, and things can get messed
up quite easily. Your best bet is to talk to a local computer
consultant about a network for your home or office.
The first thing you must do is tell QuickBooks that you will be
issuing 1099s. Click on Edit (from the menu bar), then Preferences.
Scroll down until you find the picture that says "Tax:1099" and click
on it. On the Company Preferences tab, answer yes to the question
about the issuance of 1099 forms, then follow the rest of the
instructions on this screen.
Next, you'll need to identify those vendors who are eligible to
receive a 1099. Click on Vendors, then Vendor List. Double-click on
the first vendor in the list, then the "Additional Info" tab. In the
lower left hand corner, put a check mark in the box that says "vendor
eligible for 1099" and enter their tax ID number they have provided.
Repeat this process for any vendors that need to receive a 1099.
Finally, to run the 1099's and related information, click on
Reports, then Vendors, then either of the 1099 reports. Verify the
data, correct if necessary, and print your 1099's all within
QuickBooks.
It's important to review this topic with your accountant to ensure
you are collecting the proper information and preparing the 1099 forms
correctly for your business.
If you have customers who are also vendors you may decide to trade
some or all of your services / products in exchange for payment.
To record such a barter transaction, invoice the customer for the
goods provided or services performed as you normally would. To record
the "payment" use the "Receive Payment" function to apply the barter
amount against the invoice the same as you would when receiving cash
or a check as follows:
Go to Customers: Receive Payment. Payment Amount will be the barter
amount (the amount of the invoice you received from your vendor). Pmt.
Method will be Barter. Check the radio button for "Group with other
undeposited funds". Save this transaction.
Go to Banking: Make Deposits. The payment you just received will
come up in the Payments to Deposit screen. If there are also other
payments to deposit, make sure you select only the payment(s) being
recorded for the barter exchange. When you hit OK the Make Deposits
screen will come up with the barter deposit(s) showing. Before
recording the deposit make a negative deposit entry on the next blank
line below the barter deposit for the amount of the barter as follows:
Deposit To is your normal operating checking account. Date is the
date you would have normally paid your vendors invoice. Memo should be
changed from Deposit to Barter.
If you have entered the vendors invoice as a bill for payment,
Received From is the vendor name and From Account is Accounts Payable.
If you have not entered the vendors invoice as a bill for payment,
leave Received From blank. In the From Account column select the
expense account you would charge the vendors invoice to, the same as
if you were entering it for payment. In the Memo column note the
vendors invoice number.
In the Amount column enter the vendors invoice amount with a
negative sign first. This negative amount should exactly offset the
deposit amount above, resulting in a "Zero" deposit transaction. Save
the "deposit" and the transaction is complete.
Do not pay your payroll liabilities from the "Write Checks" window.
If you use this window, QuickBooks will warn you to use the "Pay
Liabilities" window, but will let you write the check. However when
you print the 941, it will not reflect any payments that you made
using the "Write Checks" window.
Use the "Pay Liabilities" window to create checks for all tax
liabilities. Using this window will ensure that the payments are
reflected accurately on the 941 report and that your liability
accounts are properly reduced.
