Special Offer: Includes Free Year of QuickBooks Online

• Special Offer: Your purchase of QuickBooks Pro 2016 Small Business Accounting Software includes Free Year of QuickBooks Online

• Easy to set up, learn and use.
• Track how your business is doing with one-click financial accounting, tax and sales reports and Easily create invoices and get paid faster with online invoicing and manage expenses
• New! Track all your bills in one place with (QuickBooks Bill Tracker)
• Note: The product code and license number are on the back of the units above the UPC under a scratch off coating.

contact@officetaxservices.com

(858)247-1680

Special Offer: Includes Free Year of QuickBooks Online

• Special Offer: Your purchase of QuickBooks Pro 2016 Small Business Accounting Software includes Free Year of QuickBooks Online

• Easy to set up, learn and use.
• Track how your business is doing with one-click financial accounting, tax and sales reports and Easily create invoices and get paid faster with online invoicing and manage expenses
• New! Track all your bills in one place with (QuickBooks Bill Tracker)
• Note: The product code and license number are on the back of the units above the UPC under a scratch off coating.

contact@officetaxservices.com

(858)247-1680

Special Offer: Includes Free Year of QuickBooks Online

• Special Offer: Your purchase of QuickBooks Pro 2016 Small Business Accounting Software includes Free Year of QuickBooks Online

• Easy to set up, learn and use.
• Track how your business is doing with one-click financial accounting, tax and sales reports and Easily create invoices and get paid faster with online invoicing and manage expenses
• New! Track all your bills in one place with (QuickBooks Bill Tracker)
• Note: The product code and license number are on the back of the units above the UPC under a scratch off coating.

contact@officetaxservices.com

(858)247-1680

Using QuickBooks - Tracking Mileage

Keeping track of mileage helps you get all the reimbursements you're due and it is important because all business-related mileage is tax-deductible. QuickBooks can help you keep records of the miles you drive.

If you want to track mileage on the vehicles you use for your business, create entries for your vehicles in the Vehicle List (List - Customer & Vendor Profile Lists - Vehicle List) first, set up the mileage rate (Company - Enter Vehicle Mileage - Mileage Rates), record mileage driven (Company - Enter Vehicle Mileage) and then, record the vehicle, date, miles driven, odometer settings, and reason for the trip.

Usually with the actual expenses method, you get a higher business vehicle expense deduction. However, note that the IRS limits the amount that you can include as vehicle depreciation, so you may not get the highest deduction with this method.

No matter which method you use, you need to record of your actual business miles, which the Enter Vehicle Mileage command enables you to do. By law, you need a good record of business mileage to legitimately claim the deduction.

When you prepare your taxes you can use one of the reports generated by QuickBooks. (Reports - Jobs, Time & Mileage)

• Mileage by Vehicle Summary;
• Mileage by Vehicle Detail;
• Mileage by Job Summary;
• Mileage by Job Detail.

contact@officetaxservices.com

(858)247-1680

 

Using QuickBooks - Price Levels

Price levels allows you set custom pricing for different customers or jobs. When you define price levels and assign them to customers, QuickBooks takes care of adjusting the prices on every invoice you create. You can also apply a price level to specific lines on invoices to mark up or discount individual items. 

Fixed percentage price levels allows you increase or decrease prices of all items for a specific customer or job by a fixed percentage. If you have a fixed set of discounts, you might name the various levels by the percentage, like Discount 20 for example. An alternative is to name them by their purpose, like NewCustomer. That way, it's easy to change the discount amount without changing the price level's name.

To create a price level, make sure the price level preference is turned on. If QuickBooks' Price Level preference is turned off, you won't see the Price  Level Item in the List menu. Check it at Edit - Preferences - Sales & Customers, and then click the Company Preferences tab. Select the Enable Price Levels radio button, and then click OK.

contact@officetaxservices.com

(858)247-1680

Using QuickBooks - Categorizing with Classes

If you need to classify by categories your income and expenses in QuickBooks, the solution is using classes. Classes help you track financial results by categories such as business unit, location, etc. This is a way to identify related data. Classes are used in transactions. Classes let you organize transactions into any categories you want. Classes also come in handy for tracking the allocation of functional expenses that nonprofit organizations have to show on financial statements. You can have a subclass of each class that you create.

Before you can assign classes, you have to turn on QuickBooks' class-tracking feature. In the QuickBooks Pro, you can turn it on: Edit - Preferences - Accounting, and then click the Company Preference tab. 

You can create two classes in QuickBooks for your business: location 1 and location 2. Each time you enter a transaction, it will assign one of two classes. Another example is if you have two or more vehicles in your company and you would like to know how costs for repairs, fuel, and so on. You need to set up a class for each vehicle and apply those classes to your QuickBooks transaction entries for repair, fuel, etc.

QuickBooks comes with reports specially designed for tracking class-based transactions such as Profit & Loss by Class, it  can be found in the Reports menu, under Company & Financial. You can find more reports on Report Center.

contact@officetaxservices.com

(858)247-1680

Using Quickbooks - Setting Up Items

Whether your business does, you'll probably use items in QuickBooks to represent the products and services you buy and sell. But to QuickBooks, things like discount, subtotals and sales tax are items too. In fact, everything that appears in the body of a QuickBooks form (such as an invoice) it is an item.
Items save time and increase consistency on sales and purchase forms. When you create an item, you describe what the items is, how much you pay for it, how much you sell it for, and the accounts to which you post the corresponding income, expense, cost of goods sold, and asset value. You also create items for other stuff you add to sales forms, like discounts, shipping charges, and subtotals.
If you do not use invoices, sales receipts, inventory and estimates, you do not need to use items. 
Planning your Item List can save you lots of frustration. By deciding how to name and organize your items before you create them in QuickBooks. Since QuickBooks Pro and Premier can not hold more than 14,500 items and once you use an item in a transaction, you can not delete that item, you need to plan how specific your items will be.
The best time to create items is after you've created your accounts but before you start purchasing goods from vendors or invoicing customers.

 

We can help you to set up items in QuickBooks

contact@officetaxservices.com

(858)247-1680