QuickBooksForum.com.au

I have been using qb premier for about 6 months, for estimates and invoices but I now want to be able to track how my business is doing. I cannot figure out how to enter my day to day receipts ie: fuel & small purchases. Help me please.............

If you have set up a bank account (even if it is just a dummy bank account like Petty Cash), you can choose Write Cheques, which I guess is on your home page on QB. Enter the cheque number (which is really your receipt number), the date you made the payment, the Supplier (from whom you made the purchase, e.g. Petrol Station) and enter the account for which the purchase was made, e.g. Office Supplies, Fuel, etc. Show the relevant tax code (usually NCG if it is a non-capital purchase with GST, or CAG if it is a capital purchase with GST, such as office furniture). Put the details of the purchase in the memo field and save the entry.
Your local library may have some useful books on using QuickBooks.

You will only be able to effectively track your business if you have your chart of accounts set up correctly.

The chart of accounts orginises all your business activity into catagories. of the following types

Bank accounts
Fixed assets
longterm liabilities
accounts receivable
accounts payable
Tax payable
income
equity
expenses

here is an example


the reports that quickbooks generates are based on the information stored in your chart of accounts so therefore, it is vital you have this setup correctly.

otherwise you could enter all the data in the world and your reports would still not make sense.

your chart of accounts will also very depending on the type of business you operate so it is largle unique to each person.