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Lauretta Finis, TWN member & trainer
@LaurettaBYBB
Advanced QuickBooks Online:
Handling tricky transactions
WiFi: QB Connect Password: Connect2017#QBConnect

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Member of Intuit’s Aussie trainer/writer network
Advanced Trainer & Certification Trainer
Runner up Intuit Firm of The Future 2016
Quick Bizness Bookkeeping Solutions
Today’s speaker
Lauretta Finis
Director, Quick Bizness Bookkeeping Solutions
@LaurettaBYBB

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Presentation featuring:
Buddy Danozzo

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Tricky:
a task or a problem, requiring care and skill
because difficult or awkward
Synonyms: difficult, awkward, problematic,
delicate, ticklish, sensitive, touchy, risky, uncertain,
precarious, touch-and-go
Workarounds to accomplish a specific task

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Tricky transactions
Customer Deposits & Retainers
Writing off Bad Debts
Recording loan payments
Daily sales summary
Credits
Splitting transactions by %
Dishonored Cheque
Agenda
Troubleshooting
Bank reconciliation
Audit log
Opening balance journal

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Tricky transactions

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Customer deposits / retainers
& loan payments

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Loan payments
Recording loan payments is a common
transaction, but can be more complex
Recording as an expense
Recording via the online bank feed
Customer deposits
Its all in the set up
Setting up the deposit item
Customer deposits /retainers & loan payments

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Writing off bad debt
& splitting transactions

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Write off bad debts
Creating an item called bad debts
Split transactions by %
Big time saver
Fuel expenses split with drawings
Electricity home expenses split with drawings
Phone/mobile expenses
Loan split between directors
Deposit’s, POS split between different income streams
Splitting transactions & write off bad debts

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Credits

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There are credits and then there are credits, but which one do you use?
How can I refund a client after I have received the money?
Can i show a credit against a client for the next invoice?
How can i send a credit note so the invoice is reduced?
My supplier has sent me a credit amount what do it do with this?
I have received a credit card credit how do i enter this?
Refund receipts – delayed credits – supplier credit -
credit card credit

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Dishonoured cheques

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Cheques may come and go?
Accounts Receivable,
Bank will be affected
Customer still has outstanding amount
Dishonored cheque / deposits

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Daily sales summary

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Cash register or POS daily Sales
Don’t forget to reconcile
Daily sales

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Bank reconciliations

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There are several reconciliation problems
Bank reconciliation problems are often caused by editing, deleting, or
making other changes to reconciled transactions
A common problem is when the beginning balance does not match the
previous month’s ending balance
Bank reconciliation

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Questions?

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