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Monday, May 31, 2010

Day 5: QuickBooks Setup



Many service companies can find progress invoicing very helpful in their business. Contractors especially find this helpful when requesting for draws. For our company, we expect payment in full when billed or completed, we will not use progress invoicing. Please select No.


Yes, even the best bookkeeper can lose track of bills owed, so we will select "yes" to this statement. Simply put, you want to be able to enter bills received and pay them later. Many of our bills that we will pay later on in the tutorial will be paid at the time of receipt using the "Write Checks" icon.
This tool can really come in handy if you print multiple or "batch" checks. Let's put it this way, printing 20 checks is a lot faster than hand writing 20 checks anyday of the week. In order to print check, you have to first order checks from a printing service company. The cheapest company checks I have found online is with Carousel Checks.

For many service industries in my area of expertise, they do not accept credit cards. If you would like to find out more about the costs associated with merchant accounts and credit card transactions, please look online and do your research. It may not be worth the cost if you only have a couple of clients paying via credit card.

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