QuickBooks Quick Tips

QuickBooks Tips              

• Make backup copies of your QuickBooks File!!!
• Set a designated day each week to work on your bookkeeping.
  • Download and import the IIF files daily to save time on researching the transactions when reconciling your bank statement.
    • If you see transfer payments in your QB record deposits box, do not ignore. You should never have a balance under transfer.
• Aim for a set day each month to reconcile for the prior month (Example 15^th).
  • Double check all asset/liability accounts are clearing:
    • Due From KOA Inc. (Other Current Asset)
      • Gift Card
      • Reward Certificate
      • Work Kamper Certificate
    • Reward Sales Due KOA, Inc. (Other Current Liability)
    • Suspense (Other Current Liability)
  • Run a Deposit Liability Report in K2 to make sure it matches your QuickBooks liability account.
• Create an annual budget.

K2 Tips   

• Approve weekly Royalty Remittance and record in QB at the same time of approving for payment.
• Assure the System Check is cleared for Out of Balance Transactions on a regular basis.
• Enter store items individually to analyze your profit margins.
  • Run a KampStore Analysis Report
    • See what items haven’t sold in a timely fashion and mark down the inventory. 
    • Inactivate items you no longer carry.
    • Take a store inventory at least once a year.