Credit Card Reconciliation

I was just reconciling my clients credit card statement in Quickbooks and it reminded me that there are quite a few people who manage this task incorrectly. I have even seen some bookkeepers do it wrong as well.

The part that is incorrect is that they treat the Credit Card bill just like any other bill from a Vendor. They just enter it into the bill section, itemize the different purchase and when the credit card payment is sent they apply the amount to the bill.

A credit card should be treated just like any other Bank Statement. Quickbooks even has a type of account called "Credit Card" that you can setup. You then can enter each purchase into the ledger and then reconcile like a regular statment.

Take the time to setup this method and you will save a lot of headaches later when looking up a purchase or credit from your credit card

Learning New Things Everyday

It is such a great feeling to learn something that you didn't know or couldn't do. I just figured out on my own how to manipulate the template colors for this blog! Wow - I am not techie at all and I was able to do it. Using common sense, google and trial and error. I may not be an interior decorator so these colors may not be permanent but at least I figured out how. If you have any suggestions for other colors please let me know ...

So you see if you can't do your own bookkeeping .... you probably really can learn how. You just need the determination to have a handle on your finances and not give up. There are so many easy to use tools on the market that make it so easy for you. Just take some time and give it a try . You will feel as great as I do .

Certainly if you need help just let me know.
Email me at raquelmorphy@rmbizsolutions.com

Quickbooks

Quickbooks - Great Choice!
Well - Of course this is my bookkeeping software of choice. It is the one I use for all of my clients. To me this is a must have for your business. It is so easy to setup, and use. It may seem a bit cumbersome at first but it really is a great program with a ton of features. You can run so many helpful reports and track multiple accounts - just amazing.
Thats not to say it doesn't have its quirks. Of course it does. The top one of my dislikes is how much money you have to spend on customer support. It really is very expensive. But there are a ton of people like myself, who go to forums to help each other out. Just Google "Quickbooks Forums" when you need help. Or just come here and email a question -
So if you are in need of a copy -Go to Quickbooks

Welcome to the Bookkeeping Secrets Blog! I am very excited that you came for a visit. Come back often as I will provide many bookkeeping tips and tricks, software favorites, even promote great stuff from my clients.!

I look foward to sharing with you!