If you have two invoices owed by two different customers for the same amount, they are both brought up as possible matches. If you don't take care you could clear the invoice from the wrong customer, leaving your statements incorrect. Great to have time savers but best not to rush. Take time to make sure the selection dot is next to the correct invoice before you select match.
There is an option for credit notes to automatically allocate against sales invoices - but if you are crediting invoice number 7 of 10 there would be no way for Quickbooks to know so it is best to log into the settings area and untick this automatic option.
There is an option when setting up bank rules to have items 'Auto-Add' but this means you will not be given the chance to at least review the transactions on the bank feed before it is allocated. I think it is always worth a quick look at your transactions - you may always buy tools from Wickes but what about that one time when you buy a fixed asset?
We use Quickbooks on a daily basis and find it a really convenient bookkeeping package, but as always there are tricks to learn along the way.
If you would like help with the bookkeeping for your business, let us know.
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We have been a client of BW Bookkeeping since 2017 and rely on them for a range of services. They helped us change from a sole trader to a limited company and handle all our banking and VAT.
Mason Grab Hire Ltd, Aston Clinton
I have never used a bookkeeper before so I was a bit apprehensive. Working with BW has been the best decision we have made recently. I knew we needed help with behind the scenes work and this has been a real relief.
Sam B, Cheshunt
Excellent bookkeeping service and knowledge of the work. We recommend this firm if you are looking for a bookkeeper,
Phil Bass, Dunstable