QuickBooks Desktop Adding Service Items

Services are intangible products that you offer to your clients to meet their individual needs. They are something like Hairdressing, Tailoring, and 3D Designs etc. and if your service comes with different ranges like price range, different 3D designs etc. then it’s always a good idea to…

QuickBooks Desktop | Adding Service Items

QuickBooks Desktop | Adding Service Items

Services are intangible products that you offer to your clients to meet their individual needs. They are something like Hairdressing, Tailoring, and 3D Designs etc. and if your service comes with different ranges like price range, different 3D designs etc. then it’s always a good idea to list your service with all the variations so that the related income & expenses can be conveniently tracked and categorized. So, in this tutorial, we will see whether how we can list our services in QuickBooks desktop item list by creating main and sub-account category.

= Topics discussed in this tutorial:

  • 00:46 Writing name of your service item in QuickBooks desktop
  • 01:38 Writing description of your service item in QuickBooks desktop
  • 01:53 Attaching your service to an account to track the income and expenses in QuickBooks desktop
  • 02:54 Adding notes to your service item in QuickBooks desktop
  • 03:28 Creating and making a service item subitem of another service item in QuickBooks desktop
  • 03:40 Mentioning terms in the description section in QuickBooks desktop
  • 03:50 Creating sub-account tier in the chart of accounts in QuickBooks desktop
  • 04:15 Making a service item inactive and active in QuickBooks desktop

Watch it on Youtube:

Adding Service Items in QuickBooks Desktop

I hope this will be helpful for someone out there and thanks for watching and supporting.

QuickBooks Desktop Adding Bank and Credit Card Accounts

To manage the payments received and paid you need to add your bank accounts so that you can manage and categorize your finances quite conveniently and,

QuickBooks Desktop Adding Bank and Credit Card Accounts

So far, we have a basic understanding of chart of accounts and to manage the payments received and paid you need to add your bank accounts so that you can manage and categorize your finances quite conveniently and, in this tutorial, we will see how we can add bank and credit card accounts in QuickBooks desktop.

= Topics discussed at:

  • 00:30 Create Bank Account in Quickbooks Desktop
  • 00:50 Write a name of your bank account in quickbooks desktop
  • 01:20 Adding description of an account
  • 01: 38 Adding Bank account and Routing Numbers
  • 01:50 Tax line Mapping
  • 02:00 Activate account numbers in QuickBooks desktop
  • 02:35 Adding opening balance of an account in QuickBooks Desktop
  • 02:48 Setting up a reminder for ordering checks in QuickBooks
  • 03:30 Create Credit Card account in QuickBooks desktop
  • 04:05 Equity balance in QuickBooks desktop

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= The sequence of assigning account numbers in QuickBooks

  • 10000 to 19999 = Assets
  • 20000 to 29999 = Liabilities
  • 30000 to 39999 = Equity or Capital
  • 40000 to 49999 = Income or Revenue
  • 50000 to 59999 = Cost of Goods Sold, Job Costs, or Project Costs
  • 60000 to 69999 = Expenses or Overhead Costs
  • 70000 to 79999 = Other Income
  • 80000 to 89999 = Other Expenses
  • 90000 to 99999 = Non-Posting

QuickBooks Desktop | Adding Bank and Credit Card Accounts
Adding Bank and Credit Card accounts in QuickBooks Desktop
How to add Bank and Credit Card accounts in QuickBooks Desktop

I hope this will be helpful for someone out there and Thanks for Watching & Don’t Forget To Like, Share & Subscribe.

Customize the Look and Color Scheme of QuickBooks Desktop

IF you have multiple QuickBooks files with the same name and the same color scheme, you might end-up working on the wrong one, and in that scenario what we can do is to change the look or color scheme of the files as it also helps us to know whether

Customize the look and color scheme of QuickBooks Desktop

Change quickbooks desktop look and color scheme
Change the look and color scheme of QuickBooks Desktop

Well, if you have multiple QuickBooks files with the same name and the same color scheme, you might end-up working on the wrong one, and in that scenario what we can do is to change the look or color scheme of the files as it also helps us to know whether we are working on the right one or not. So in this tutorial, we will see how we can change the look and color scheme of identical QuickBooks files.

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I hope this will be helpful for someone out there and Thanks for Watching & Plz! Don’t Forget To Like, Share &Support by Subscribe.

Opening and Closing an Existing File in Quickbooks Desktop

It’s important to know whether the company file you are working on is the current one. If it’s not, things may take a slightly wrong turn and the file may get messier which will not provide you with the accurate Financial information and…..

Opening and Closing an Existing File in Quickbooks Desktop

Well, it’s important to know whether the company file you are working on is the current one. If it’s not, things may take a slightly wrong turn and the file may get messier which will not provide you with the accurate Financial information and you will end up making wrong business decisions. So, in this tutorial we will see whether how we can open and close a concerned company file in QuickBooks desktop.

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I hope this will be helpful for someone out there and Thanks for Watching & plz! Don’t Forget To Like, Share & Support.

Backup and Restore a Company File in Quickbooks Desktop

It’s always a good idea of keeping a backup file of your company file so that if something goes wrong with your device or system, the backed-up file….

Well, it’s always a good idea of keeping a backup file of your company file so that if something goes wrong with your device or system, the backed-up file can save you from losing all your data and in this tutorial, we will see whether how we can create a backup file in quickbooks desktop and restore it….

Watch it on Youtube:

I hope this will be helpful for someone out there and thanks for watching. And plz don’t forget to support. thanks!

A Tour to QuickBooks Desktop Home Page or Interface

After creating a company file in quickbooks desktop, the first thing we need to do is to get familiar with its interface….

Well, after creating a company file in quickbooks desktop, the first thing we need to do is to get familiar with its interface so that we know where exactly we need to go to record a transection and find some certain information, we are in need.
So, in this tutorial, we will have a basic understanding of QuickBooks desktop home page so that we can work properly and efficiently.

Watch it on Youtube:

And, I hope this will be helpful for someone out there and Thanks for Watching & Don’t Forget To Like, Share & Subscribe.

Create a New Company File in Quickbooks Desktop

We use an accounting softwares like Quickbooks that not-only helps us track our income and expenditures but-also other financial information which ultimately helps us to make decisions for the betterment of our business.

In this tutorial we will see how we can create a new company file in quickbooks desktop.

Well while running a business, we do find ourselves in a need to know whether how much we have spent in a certain period of time and what was the outcome of it and to know that accurately, we use an accounting softwares that not-only helps us track our income and expenditures but-also other financial information which ultimately helps us to make decisions for the betterment of our business.

Watch it on youtube:

And I hope this will be helpful for someone out there and Thanks for Watching and plz! Don’t Forget To Like, Share & Subscribe.

Tips to Save Yourself from Tax Scams

In today’s world, you can find scams everywhere and the prominent one is tax scam which can happen through different channels e.g. phone calls, emails, or even in person. The scammers claim to be from the IRS, start demanding your money right away, or demand your sensitive personal and financial information, or start threatening to arrest you.

Unfortunately, some people fall victim of these scams and give their hard earned money or sensitive personal and financial information to these scammers and don’t think you’re the only one who has become a victim of these scammers. Such aggressive, threatening phone calls, emails, or in person scams are occurring regularly across the country.

It doesn’t mean that there is nothing that can help you from being scammed. You surely can protect yourself from the most common tax scams by keeping the general but very important following tips in mind.

Pay your tax on time:

Pay your tax on time

It is for sure a good idea of making tax payments on time as it will almost eliminate the possibility of being scammed. And if you receive any phone call or email mentioning that your tax is due, you surely can report that anonymous phone call or email right away.

No Instant tax payment demand from IRS:

Instant Payment Demand From IRS

If there comes a time due to which you find yourself unable to pay your taxes on time then the IRS surely have payment plans for your convenience and will never call you to demand immediate tax payment. All you need is to request IRS a payment plan (short term or long term) to pay your taxes in full within the extended time frame with ease.

Plz! Visit for more info:  www.irs.gov/payments/payment-plans-installment-agreements

No Fabricated Ways of Tax Payments:

Fabricated Ways of Tax Payments

It is really important to keep in mind that IRS will never ask you to make your tax payment to an organization other than the U.S. Treasury. And it will also never ask you to pay your taxes by some unknown wire transfer or by buying them some gift cards etc.

The IRS offers several payment options where taxpayers can pay their tax liability.

Here are some ways to make tax payments:

      • Direct Pay
      • Credit or Debit Cards
      • Installment agreement
      • Mobile App

Direct Pay: with IRS Direct pay, taxpayers can pay their taxes directly from their checking or savings accounts for free and they will receive instant confirmation once they’ve made a payment.

Credit or debit cards: Taxpayers can also pay their taxes by debit or credit card online, by phone or with a mobile device. It will be free or some convenience fee may apply.

Installment agreement: Those who are unable to pay their tax immediately will be able to make monthly payments by having short term or long term payment plans.

Mobile App:  The IRS have also introduced an app named IRS2Go for making tax payments via mobile device. A taxpayer can use it to pay his/her tax liability.

For more Info. Plz! visit www.irs.gov/newsroom/easy-ways-to-pay-taxes

No Hostile Behavior by IRS:

No Hostile Behavior by IRS

The IRS will never conduct an aggressive and threatening behavior to immediately bring in police saying we will have you arrested for not paying the taxes. The IRS has its mechanisms in place to allow you to come forward to talk about the unpaid taxes. If you don’t want to go to IRS directly then talking to an authentic tax attorney can also help you learn about your rights and options.

Plz! Visit for more info:  www.irs.gov/newsroom/what-if-i-cant-pay-my-taxes  and www.irs.gov/taxtopics/tc201

Tax Scamming Emails:

Tax Scamming Emails

Tax scammers can also send you fraudulent emails to steel your sensitive personal and financial information. These emails are designed to look like legitimate and you by considering them authentic, can easily fall for them.

There is no simple way to completely avoid email phishing attacks. But the easiest way to avoid these scams is not to reply such emails and or by never clicking on the links that are included in email messages.

Tax Knowledge and Awareness is key!

Tax Knowledge and awareness is key

It is understandable that you (taxpayer as a layman), can’t have all the possible information about the tax system, (tax knowledge, tax complexity, and tax compliance etc.) but at least you should have some basic information about taxes so that you can save yourself from the scams that are happening across the country.

So, if you observe anything doubtful while getting prepared and filing your taxes by someone else, you should refer the IRS website “www.irs.gov” for more information and or call them directly to avoid tax scam.

Conclusion

Let’s face it, most people dislike tax season. It can be stressful, confusing and financially painful but learn how to protect yourself from the most common tax scams which may come in different forms.

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