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Fourlane QuickBooks Insights – Consistency

Fourlane QuickBooks Insights

We at Fourlane have learned a lot from our customers when it comes to the problems they run into with their QuickBooks files. With our services, we try to help the businesses we work with identify the true issues hiding beneath the surface, and walk away better off then when they came to us. That’s why with this QuickBooks Insight series, we hope you can identify with the experiences other customers have faced.

Today’s QuickBooks Insight Tip #7: Consistency

Consistency is key in posting financial information. Even if you post it incorrectly, if you are consistent with the incorrect posting, at least we can find it and reclassify. If you post randomly, it is very difficult to audit and find incorrectly posted transactions.

What’s in A Class Name?

A small pool builder had a part time office manager who posted all his expenses. He was trying to grow his recurring business cleaning and servicing pools as well.

The office manager would post the payroll and other expenses to the Construction class or the Service class randomly. Now the office manager was also his wife, so I had to tread lightly with my corrections. Because of the inconsistent postings, we had to go transaction by transaction to fix the allocations.

Our Solution

We set up memorized transactions for most transactions that occurred monthly. This allowed the office manager to have consistency. Also, we taught her how to look for “What did I do last time?” by pulling up the Vendor center and opening the most recent bill, check or credit card transaction posted against the vendor. Then duplicate this transaction and modify amounts as needed.

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About Marjorie Adams

Our head QuickBooks trainer and guru, Marjorie Adams, is Founder and CEO of Fourlane, Inc., an award-winning consulting firm and Intuit’s #1 QuickBooks Reseller Partner. Fourlane’s team of experts offers several QuickBooks oriented services including consulting, training, programming, integration, and more. Over the years, Fourlane has helped over 10,000 customers across many different industries with their QuickBooks accounting software. Marjorie Adams is considered one of the top QuickBooks trainers in the country. She was listed on CPA Practice Advisor’s 40 Under 40 in 2014 & 2015, and has been recognized as Intuitive Accountant’s 2015 QuickBooks Desktop ProAdvisor of the Year. Marjorie sits on Intuit’s VIP Program, is a frequent contributor to Inuit Accountants News Central, and has developed Intuit’s QuickBooks Enterprise Certification training. She has also been published in The Wall Street Journal, Forbes, BusinessWeek, American Express Open, the Huffington Post, and Inc. Magazine.

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