Quickbooks
QuickBooks Information
Item Price List: Allows us to price each item/service the company “sells”. Example: Each private lesson is $25.00/lesson.
Customer Contact List: Displays contact Information and current balance for each customer.
Customer Balance Summary: Displays how much each customer currently owes.
Customer Balance Detail: Displays what payments and invoices comprise each customer’s current balance.
Unbilled Costs: Displays job-related expenses that haven’t been charged to customers.
Transaction List by Customer: Displays the transactions the company has had with each customer.
A/R Aging Summary: Displays how much each customer owes, and how much of each customer’s balance is overdue.
A/R Aging Detail: Displays which invoices or statements are due and overdue.
Open Invoices: Displays which invoices or statement charges haven’t been paid and when they are due.
Collections Report: Displays which customers are overdue, how much they owe, and their contact information.
Reconciliation: Every month, you should receive your bank statement either electronically or via mail. When you receive, you should reconcile your QuickBooks Accounts for the statement period. *This creates an easy way to print off your yearly accounting information for taxes. It also allows you to see what payments have and have not cleared your account.
Basic Monthly Procedure:
Enter each dancer into QuickBooks as a “customer”, and make sure all contact information is also entered.
Then monthly (around the 20th) I would invoice each “customer” for the upcoming month which is due on the 1st. If costs are added throughout the month, we can utilize the Unbilled Feature, or re-invoice. You can invoice electronically via email, or I would suggest a mailbox system in the main hallway. This could be where any information could be passed between Kayla and the parents (which would eliminate, the I didn’t know remark, and act as a secondary to emails).
When
Item Price List: Allows us to price each item/service the company “sells”. Example: Each private lesson is $25.00/lesson.
Customer Contact List: Displays contact Information and current balance for each customer.
Customer Balance Summary: Displays how much each customer currently owes.
Customer Balance Detail: Displays what payments and invoices comprise each customer’s current balance.
Unbilled Costs: Displays job-related expenses that haven’t been charged to customers.
Transaction List by Customer: Displays the transactions the company has had with each customer.
A/R Aging Summary: Displays how much each customer owes, and how much of each customer’s balance is overdue.
A/R Aging Detail: Displays which invoices or statements are due and overdue.
Open Invoices: Displays which invoices or statement charges haven’t been paid and when they are due.
Collections Report: Displays which customers are overdue, how much they owe, and their contact information.
Reconciliation: Every month, you should receive your bank statement either electronically or via mail. When you receive, you should reconcile your QuickBooks Accounts for the statement period. *This creates an easy way to print off your yearly accounting information for taxes. It also allows you to see what payments have and have not cleared your account.
Basic Monthly Procedure:
Enter each dancer into QuickBooks as a “customer”, and make sure all contact information is also entered.
Then monthly (around the 20th) I would invoice each “customer” for the upcoming month which is due on the 1st. If costs are added throughout the month, we can utilize the Unbilled Feature, or re-invoice. You can invoice electronically via email, or I would suggest a mailbox system in the main hallway. This could be where any information could be passed between Kayla and the parents (which would eliminate, the I didn’t know remark, and act as a secondary to emails).
When