Knowledge Base

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 15th).
    • 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.

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