The process involves the back-end posting to a new GL account for credit transfers so that the asset is recorded prior to being applied to the other job invoice. QuickBooks now provides the means to easily and properly apply open credits and transfer credits between customer jobs. Subsequent invoices were posted against the second job, but the customer doesn’t really owe you any money because of the open credit on job 1. The payments they made against your invoices were posted to the first job, but it left a credit open. You set up a job for a customer, and then you end up setting up another job for the same customer because there is another phase, another project, or another something that you’re going to do for them. This is a HUGE deal for businesses that track by job.
It is like that these two items represented a large share of corrections accountants make in their clients’ books. In keeping with this philosophy of simplicity are a couple of new changes to QuickBooks that help ensure transactions are handled properly. Intuit’s motto for QuickBooks was “if you can write a check, you can do your own books” and the popularity of the application is a testament to its ease of use by non-accountants.
For most people… not so much, which is why having a product like QuickBooks has been so helpful to so many small business owners. Others, like changes to QuickBooks installation and update processes, will apply to just about everyone.Īccounting professionals understand the rules of bookkeeping and can fully appreciate the nuances of classifying transactions properly, like cost of goods sold versus regular expenses. Some of these items may not apply to everyone or every edition, such as the purchase order or sales order process enhancements available to Enterprise Platinum level subscribers. Here is a shortlist of the changes and enhancements for QuickBooks 2019 desktop editions. Today, Intuit continues to leverage a variety of innovative sales channels, such as through payment solution providers like Square (sales data from Square is now available for Mac with QB 2019), and to offer features to support the non-accountant in all of us. Yet Intuit was able to establish a QuickBooks foothold in the market based on a couple of fairly unintuitive elements, such as leveraging highly unconventional sales channels for accounting software and promoting a bookkeeping tool for people who do not know business bookkeeping. The number and depth of QuickBooks advisors, consultants, developers and service providers is unmatched in the market. Intuit QuickBooks has been the standard of small business bookkeeping for many years.
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