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How To Set Up a Chart of Accounts in QuickBooks?

How To Set Up a Chart of Accounts in QuickBooks?

QuickBooks Chart of Accounts is basically a list of accounts that helps in categorizing assets, owner’s equity amount, liabilities, and income. To understand it better, you can say that it is a list of balances and chart of accounts in QuickBooks of the company, which further assists in understanding the amount of money a company has, how much it owns, and the amount it owes. It provides a full-proof financial report. This is an important feature for businesses, as it helps in analyzing the financial aspect of a business and reviewing its financial performance.

Setting up a chart of accounts in QuickBooks is quite easy, as it involves some basic set of steps, which we will be elaborating on later in this segment. So, if you are interested, then make sure to go through the segment carefully. For any kind of professional or technical assistance, you can simply connect with our tech professionals at +1-844-499-6700. Our certified QuickBooks professionals have years of experience and expertise in dealing with issues related to QuickBooks.

What is Chart of Accounts (COA)?

setting up Chart of Accounts in QuickBooks

Before you dig in deep to learn the steps to setup chart of accounts in QuickBooks, it is sensible enough to understand a little more about the chart of accounts in QuickBooks. Well, as mentioned earlier, chart of accounts is basically a list of account numbers and names that are relevant to the company. It is majorly categorized into these four standard accounts namely:

  • Asset accounts
  • Liability accounts
  • Income accounts
  • Expense accounts

Within each of the categories, the line items will distinguish the specific accounts. Moreover, each line item represents an account within each category. It should be noted that a few charts of accounts also display equity accounts. This represents anything that remains after accounting for all operating expenses and revenue accounts.

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Type of Chart of Accounts

There are basically four types of charts of accounts. Let us understand each one of them in detail:

1. Asset Accounts

The very first category is asset accounts. These accounts basically contain everything having a value like buildings, vehicles, land, inventory, valuables, etc. This type of Chart of Accounts helps in tracking the amount a user paid for a property and also other factors like depreciation. Items that are in liquid forms, like cheques and other bank accounts, also fall in this category.

2. Liability Accounts

Second comes the liability accounts. It consists of things like mortgages, payroll taxes, promissory notes, credit card balances, bank loans, personal loans, and income tax payables. When users add a loan to this account, it is recommended to ensure that users have also added the sum of the loan.

Here, the users will have to log just the principal amount and forgo the interest owed. When one reaches each monthly payment and enters the payment in the accounting system, the user would have to split the payment into an amount subtracted from what is owed and an amount of interest paid, which will go into an expense account.

3. Income Accounts

Another type if the income Accounts. This encompasses expenses, revenues, additional incomes or expenses, and cost of sales. Some of the accounts are the same for all businesses, while some accounts are definite to a particular business type.

It is recommended to create a separate line item in the chart of accounts for different types of income. Make sure to consider what various profitable activities may be and sort them by income type instead of limping all the income into one account. After the user is able to identify the locations or events bringing the most cash flow, then it is possible to manage things more properly.

Read Also: How to resolve QuickBooks Desktop Crashing Issue?

4. Expense Accounts

The last type of account is the expense account. It keeps users informed about the amount of money that they have spent. It further allows them to track the cash that is not with them.

Effective points to organize and set up chart of accounts in QuickBooks

Before you perform the steps discussed ahead, make sure to go through the below pointers:

  • It is recommended to keep the line items simple in the first go. Also, make sure that the line items have titles that are understandable to the accountant and also to them.
  • Majority of accounting systems are preset with a chart of accounts. The lines of preset accounts have numbered headers like 1430.2 and 530.8. And these numbers can be effective for large scale businesses but are usually a waste for entrepreneurs and small firms.
  • We recommend avoiding creation of a new line item for each transaction. This is to ensure that it doesn’t litter entire chart of accounts.

How to access the QuickBooks chart of accounts?

The steps to access the QuickBooks chart of accounts in QuickBooks desktop and online differ. So, make sure to perform the steps accordingly. The steps involved in the process are as follows:

On QuickBooks Desktop:

  • The user is supposed to pick up the Chart of accounts from any of the QuickBooks menus.
  • And then head to the company and click on lists or accounts.
accessing chart of accounts in quickBooks desktop
  • Go to the Company and then click on Lists or Accountant.

On QuickBooks Online:

  • Under this software, you need to click on the settings icon and select chart of accounts directly.
accessing chart of accounts in quickbooks online

Read this also: Steps to Install QuickBooks Desktop Software [Complete Guide]

Steps to Set up a Chart of Accounts in QuickBooks

You can perform the below set of steps to setup chart of accounts in QuickBooks. Let us explore the steps in detail:

Step 1: Go for the lists – Chart of Accounts Command

The QuickBooks software will display the Charts of Accounts window on the computer screen.

Chart of Accounts Command

Step 2: Now, click on the Account Button

Furthermore, on the screen, QuickBooks will display the Account Menu. The user is required to click on the tab stating ‘Account menu option New’. And this will open up a window on the screen.

Step 3: Add New Account by opting for Account and then new tab

Note that the QuickBooks software will showcase the Add New Account window on the screen.

steps to Set up Chart of Accounts in QuickBooks

Step 4: Make use of the Account Type buttons

enter Account info to set up chart of account

The QuickBooks accounting software offers different accounts types which include income, loan, fixed asset, Expenses, Credit Card, equity, Accounts Payable, Other Income, Costs of Good Sold, Accounts Receivable, Other Assets, Long Term Liability, Other Expenses, and more. Via the accounts, one can find the location where their data is getting reported.

Step 5: The next step is to click on continue

add new account in chart of accounts in quickbooks

After the user clicks on the continue tab, the QuickBooks software will show the second Add Account window on the computer screen. It should be noted that the name of the account will appear in the financial statements. Thus, you would have to use the Account Name Box to give a distinctive name to the new account in order to setup chart of accounts in QuickBooks.

See Also: How to Download and Install QuickBooks Tool Hub?

Step 6: Check the Sub-account

Check the sub account in chart of accounts in quickbooks

After you have opted for the sub-account checkbox, it is suggested to assign a name to the parent account.

Step 7: Head to the Bank Account

In case the QuickBooks software is compatible with working in different currencies, then it will prompt the users to look for all those customers, bank accounts, vendors, etc., who use different currencies.

Step 8: The next step involves the description of the new account

Description of the new account in quickbooks

There is no need to describe the new account. QuickBooks software makes use of the account name in the financial statements and so no description is required as such.

Step 9: Get Account Info

Now, the user is supposed to get the info about the credit card account type version of the Add New Account window. This will help in storing all the card details.

Step 10: Recognize the Tax Line

On the corporation’s Tax return, the cash account balances will get recorded. In case the user wants to add a bank account, then using the Tax-Line Mapping drop-down list can help.

You may also see: How to Troubleshoot QuickBooks Error 6000, 80?

Step 11: Save the New Account

Lastly, the user is supposed to click on the next tab to save the account information and move to the add new account window. After both the accounts have been setup, the new accounts will appear on the chart of accounts list.

Saving the new account in QuickBooks

How to Modify an Account from the Chart of Accounts List?

One can try to modify an account from the chart of accounts list by performing the steps below:

  • Choose an account to setup chart of accounts in QuickBooks
    • At first, you need to choose the account that you wish to modify. Furthermore, you can modify the accounts regardless of the time. Now, from the chart of accounts, scroll down to the account that is to be modified. Click on the drop-down arrow next to run report.
    • Choose the edit option.
QuickBooks edit account
  • Make modifications to the account
    • This will now lead you to the window, where you can make changes to the account name and the account description fields. Note that the users should not change the category type in case they have already entered transactions using the account.
    • This can lay a serious impact on the financial statements.
QuickBooks modify chart of accounts
  • Save and close
    • It is recommended to save the changes before exiting the account.

Conclusion!

Now that you know the steps that can be performed to set up a chart of accounts in QuickBooks, it is time to perform those steps. Whereas, if you get stuck at any point in time, or if you require any sort of technical assistance in performing those steps, then, in that case, consulting our tech support professionals is something that we suggest. We are a team of certified QuickBooks professionals who provide you with instant QuickBooks support services. Our experts have years of experience in helping QuickBooks users with issues related to the software. For more details, get in touch with us at +1-844-499-6700 and we will provide you with the best guidance possible.

Other articles to read:

How to Setup the QuickBooks Database Server Manager?

How to Access QuickBooks Desktop Remotely?

Some important FAQs Regarding Chart of Accounts

What exactly is a Chart of Accounts in QuickBooks, and why is it important for my business?

Setting up a Chart of Accounts in QuickBooks involves several steps. First of all, you’ll need to access the Chart of Accounts feature and add or edit accounts as per your requirements. QuickBooks allows you to customize your Chart of Accounts to match your business structure, industry, and reporting needs. You can add new accounts, edit existing ones, and even organize them hierarchically for better organization.

What are the steps for setting up a Chart of Accounts in QuickBooks, and can I customize it to suit my business needs?

Setting up a Chart of Accounts in QuickBooks involves several steps. First, you’ll need to access the Chart of Accounts feature and add or edit accounts as per your requirements. QuickBooks allows you to customize your Chart of Accounts to match your business structure, industry, and reporting needs. You can add new accounts, edit existing ones, and even organize them hierarchically for better organization.

Can I import a Chart of Accounts into QuickBooks?

Yes, QuickBooks provides the option to import a Chart of Accounts from an external source like a spreadsheet or another accounting system. To do this, you’ll need to format your data according to QuickBooks’ import requirements, which typically involve preparing a CSV or Excel file. Then, you can use the import feature within QuickBooks to bring in your Chart of Accounts, saving you time and reducing the risk of errors during manual entry.

QuickBooks Credit Memos – How to Create and Apply?

QuickBooks Credit Memos – How to Create and Apply?

Do you know how and when to give a credit memo or delayed credit to customers? Well, we can help you with that. At times, instead of a refund, some customers prefer getting a credit that they can use to reduce the balance on their next invoice. It is possible to handle credit memos in QuickBooks using a bunch of ways. You have two different options, one is to create a credit memo to immediately reduce a customer’s current balance, and the other is to enter a delayed credit so that it can be used in the future. In this segment, we are going to discuss further about the differences and how they can be applied to the customer transactions. 

It should be noted that if you are refunding money that a customer has paid already, then it is suggested to record a customer refund in QuickBooks by creating a refund receipt. Having said that, let us proceed with the segment and understand QuickBooks credit memos better. However, if you have any queries, or if you need any sort of professional guidance at any point in time, then we suggest you consult our technical team at +1-844-499-6700, and we will help you with your doubts immediately. 

Also Read: How to print voucher checks in QuickBooks Online? 

What is the difference between QuickBooks credit memos and delayed credits? 

QuickBooks lets you give credit using a credit memo or delayed credit. However, there are a few key differences that we have jotted down. Let us evaluate: 

Credit memo in QuickBooks

  • A credit memo can be used in case your customer wants to immediately reduce their current open balance. 
QuickBooks credit memos
  • It can also be used as payment for an invoice by the customer. Either they can use all of their credit memos or a portion of it. 
  • A credit memo can be applied when recording payment for a customer’s invoice. 
  • Note that, credit memos impact sales reports, even if you do not apply them to the invoices. 

Delayed Credit in QuickBooks

  • In case you wish to track a customer’s credit for future use, and they do not want it to instantly affect their current open balance, then using a delayed credit might help. 
  • The customer can use their delayed credit to reduce the balance of an invoice. 
  • One can add delayed credits to future invoices as a line item. 
  • Delayed credits do not impact sales reports until you apply them to invoices. 

Steps to create and apply a QuickBooks credit memo 

In order to create and apply a credit memo, you can try performing the steps enumerated below: 

Step 1: Turn on or turn off automatically apply credits 

  • Begin with heading to the Settings tab 
  • Choose Account and settings 
  • You now have to choose the advanced tab 
  • Once done with that, choose the edit tab in the automation section 
  • Also, turn on automatically apply credits, in case you wish to automatically apply credits to customer balances or open invoices. 
  • After that, turn if off in case you wish to make a decision that open invoices you want to apply credit memos to. 
  • The last step is to choose Save and click on Done. 

Related Blog: Create an invoice in QuickBooks Online

Case 1: Automatically apply credits setting is on 

Simply turn on auto-apply credits, to automatically apply credits to the oldest open invoices for the same customer. In case it is on, here is what happens:

  1. In case you have older open invoices, QuickBooks will apply the credit to the oldest open invoice. If none, QuickBooks will apply the credit to the next invoice. 
  2. Just in case the credit matches the amount on the invoice, the credit memo and invoice will show Closed. In case the credit is less than the amount of the invoice, the credit memo will show as closed, and the invoice will depict partial. 
  3. Also, if the credit is more than the amount of the oldest open invoice, QuickBooks applies the remainder to the next oldest open invoice. In case there is no more open invoices, then the status of the credit memo will show unapplied 
  4. In case you create credit and the customer owes nothing, then they will have a negative balance. 

Case 2: If the automatically apply credits setting is off 

If you create a lot of invoices and credit memos for customers, then you need to turn off auto-apply credits. Just in case you apply specific credit memos to specific invoices, then here is what happens if it is off: 

  1. When you enter a credit, QuickBooks won’t apply it to any open invoices. 
  2. Moreover, when you receive a customer payment using receive payment, then it has a credits section. Choose when to apply credits and to which invoices. 
  3. In case you don’t link any credits, the customer balance detail report will show that both the invoice and the credit memo have open balances. They further show as open or customer and sales transaction pages. 
Remove auto-applied credits from an invoice 
  • Here you need to choose an invoice that has the credits applied 
  • After that, choose the blue hyperlink of the credit applied, and then choose the date. 
  • The payment transaction will open. 
  • The next step is to choose more and then delete. Also, choose yes to confirm. 

In case you want to transfer credit from one customer to another, create a journal entry, then apply the credit. 

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Step 2: Credit a credit memo 

  • The very first step is to choose +New 
  • Then, choose the credit memo 
  • From the customer dropdown, you need to choose customer’s name 
  • Also, enter the credit memo details, such as the date and the amount. 
  • Note that, you can create a custom credit service item so that you can quickly add it to credit memos as a single line item. 
  • After you are done, choose save and close. 

Step 3: Apply the QuickBooks credit memos to an invoice 

Just in case you turn on the auto-apply credits, QuickBooks will apply the credit for you. And in case you turn it off, you can manually apply a credit memo to an invoice. 

  • Begin with, choose + New 
  • After that, choose Receive payment 
  • Select the customer from the customer dropdown. 
  • You now have to choose the open invoice you wish to apply the credit memo to in the outstanding transactions section 
  • In credits section, choose the credit memos you wish to apply 
  • Also, note that, if you do not see the credits section, in case you haven’t created the credit memo. 
  • Enter the credit you want to apply for the open invoice in the payment column. 
  • Now, leave the payment method, reference no, deposit to, and the amount received fields blank. 
  • Also, enter in the rest of the details including the payment date. 
  • Ensure that the total is correct after applying the credit memo.
  • The last step is to choose save and close. 

Steps to create and apply a delayed credit 

For creating and applying a delayed credit, the steps enumerated below can be implemented. 

Step 1: Create a delayed credit 

  1. To begin with, you need to choose + New 
  2. After that, choose delayed credit 
  3. Now, from the customer dropdown, choose the customer’s name 
  4. And then, enter the details, such as the date and the amount 
  5. Note that, you can create a custom credit service item, so you can quickly add it to the delayed credits as a single line item 
  6. The last step is to choose save and close. 

This saves the delayed credit and you can opt for apply it the next time you create an invoice in QuickBooks

Step 2: Apply delayed credit to an invoice 

Adding a delayed credit to an invoice from a prior accounting period will affect that period’s balances. 

  1. You need to choose + New 
  2. And then go for the invoice 
  3. After that, in the customer dropdown, choose the customer. 
  4. This opens a window with all open transactions for the customer and further includes invoices and delayed credits. 
  5. Also, note that, if you do not see this, choose the small arrow next to the invoice balance due. 
  6. Once done with that, find the delayed credit and choose add. 
  7. This adds the credit as a line item to the invoice 
  8. Now, fill in the rest of the details. 
  9. And choose save and close. 

Credit memo customization 

Any sort of customizations applied to the standard template will be applied by the credit memo. Thus, in order to customize a credit memo, you need to edit the standard template according to the requirements. 

Also Read: Reconcile an account in QuickBooks

Conclusion!

Towards the end of this segment, we believe that the information shared in above might be of some help in creating and applying credit memos or delayed credits in QuickBooks online. However, in case of any queries, you need to simply reach out to our technical support professionals at +1-844-499-6700, and they will help you with your doubts instantly. 

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How to Record a Refund in QuickBooks?

How to Record a Refund in QuickBooks?

Want to record and classify refunds easily in QuickBooks? If yes, then this segment is surely something you need to go through. Refunds usually happen when a client has to refund you for an overcharge, returns an item, or cancels a service. The QuickBooks accounting software helps in managing refunds in many ways. You need to record a refund depending on various scenarios. This ensures that your books are up-to-date. To help you out in recording customer refunds in QuickBooks, here we are with this segment sharing the complete set of steps that can be implemented. To learn more, stick around this segment carefully. Or you can also consult our technical support team for any sort of technical guidance and to find out how to record refund in QuickBooks. Dial +1-844-499-6700, for any sort of technical guidance.

Also Read: How to Merge Customers in QuickBooks Desktop?

Record and Categorize Refunds in QuickBooks Desktop

You can perform the below set of steps to record and categorize refunds in QuickBooks. Let us have a look:

Step 1: Launch QuickBooks

Initially, you need to launch QuickBooks software and then sign into the account.

Step 2: Make a new customer

Before you issue a refund, you must have a customer refund. If the customer is not present in your database, then you need to add them using the steps below:

  • Head to the customer menu.
  • After that, choose Customer center
QuickBooks customer center - record customer refund in QuickBooks
  • You need to then press new customer and job option.
  • Also, select a new customer.
Record customer refund in Quickbooks
  • Complete all the customer details like the address, name, contact details, etc.
QuickBooks Add new Customer Details
  • You need to now click on ok tab.

Step 3: Create a refund receipt

Here, you need to record the money that you are giving back to the customer. The steps involved in here are:

  • The very first step is to head to customers menu and select create credit memos/refunds.
Create credit memos
  • You now need to select the customer you are refunding.
QuickBooks Customer Job
  • In the section for item, select the items that are refunded.
  • After that, type the amount of the refund in the particular account column.
  • And then, click on save and close.
QuickBooks Credit Memo

You might find this helpful: How to Create, Edit, or Delete QuickBooks Memorized Transaction?

Step 4: Issue a refund check or implement the refund to the customer’s balance

After preparing the credit memo, you can either apply it to the balance of the customer for future purchases or can refund the amount immediately with the help of the steps below:

  • After the credit memo is saved, a screen will ask you how you wish to handle the refund. Now, select apply to an invoice to use the refund for future purchases.
  • Now, select the option, and give a refund to refund the amount now.
Record a customer refund in QuickBooks
  • Just in case you select the option give a refund, you will get notified to select the payment method for the particular refund along with the account the money will be taken from.
  • Now, click on ok tab.

Step 5: Review the Refund

The last step here is to review the refund to ensure that it has been categorized in the right way.

  • Head to the reports menu.
  • Select the customers and receivables and then opt for customer balance details.
  • Now, find the customer to check the refund

Here is how to: Record a vendor refund in QuickBooks

Steps to issue a refund in QuickBooks

You need to reimburse a client or vendor for an overpayment or returned items, which includes precise paperwork and prompt processing while issuing a refund in QuickBooks.

Partial Refunds

You can reimburse a partial of the initial payment using partial refunds in QuickBooks online. This gives you options when handling refund requests from customers or vendors. This includes determining the refund amount based on the percentages of the original payment being repaid. In order to ascertain transparency in financial transactions and properly represent the partial reimbursement, adjustment entries can be made in QuickBooks online.

Refunding to a Customer

When you receive a refund in QuickBooks, the overcharged amount must be returned or a return request must be processed. Proper documentation and on time compensation are guaranteed. The process involves customer filing a refund request which the authorized staff then examines and approves. Once you get the approval, the payment must be reconciled in QuickBooks to ensure that the amount reimbursed is the same as the initial transaction. After the reimbursement is processed on time, the consumer is informed in full via email. This maintains transparency and confidence. QuickBooks lets a smooth refund management process that lets businesses to maintain both financial accuracy and customer happiness.

Refunding a payment

When refunding a payment in QuickBooks, reversing the associated transaction, updating financial records, and guaranteeing an exact reconciliation of the refunded amount are essential. Initially, you need to find the original payment transactions in QuickBooks and select the suitable refund processing option. Accounting changes must be made when the refund is started, so that the financial records reflect the refund properly. You further need to check that the updated transaction information matches the financial statements. Businesses can guarantee accuracy in the financial records and transparency in their refunding processes by following the protocols.

In order to get the accuracy of the financial reporting and maintain clean financial records, one needs to accurately record and categorize refund in QuickBooks.

Also Read: Resolve the Balance Sheet Out Of Balance In Accrual Basis

How to record a refund in QuickBooks Online?

The above-discussed steps were related to recording a refund in QuickBooks Desktop. Let us now check out the steps that discuss how to refund a customer in quickbooks online.

Customer refund if invoice has been paid

Here is how to issue a refund in QuickBooks. Let us have a look:

Step 1: Enter a credit memo

  • Begin with by simply selecting +New tab and choose Credit memo
  • Once done with that, select the right customer in the customer field
  • You now have to enter the credit memo date, amount, tax, and product/service.
  • It should be noted that in case you choose an inventory item, then QuickBooks will put it back into inventory. In case the item is defective or if you do not wait it added back to inventory, then make an inventory adjustment.
  • The last step is to choose save and close tabs.

In case the customer has overpaid, then you d not need the credit memo as you will already have an unapplied credit that acts as your credit memo.

Step 2: Make a refund

  • Here you simply need to choose + New and then go for expense
  • After that, in the payee field, choose or enter the desired customer.
  • Furthermore, in the payment account field, choose the bank the money is being refunded from.
  • Also, in the category field, choose the debtors account.
  • And in the amount field, enter the amount of the refund.
  • The next step is to choose the appropriate tax in the tax field.
  • Choose save.
  • And also, head to + new and select receive payment.
  • After that add the customer and choose payment method and deposit to.
  • The balance should be 0 as they will cancel each other out.
  • You now need to choose save and close
  • In case you have online banking, head to transactions and then bank transactions.
  • Also, match the record you found.

Refund for goods or services that didn’t satisfy the customer

You can make use of refund receipts, in case a customer asks for a refund for an item or service. In case they used a credit card, then you can perform the steps related to refunding a credit card payment. It should be noted that, in order to avoid a double refund, ensure that you haven’t already entered a credit memo yet.

  • At first, choose new
  • And also, go for refund receipt or give refund.
  • The next step is to choose customer dropdown and then opt for customer you wish to refund.
  • Now, go for refund from drop-down and then choose the bank you deposited the payment for the invoice to.
  • After that, add all products or services the customer returned in the product/service column.
  • And then, ensure to fill the date, quantity, rate, amount, sales tax, and other fields.
  • Once done with that, choose save and close

Refund a customer’s overpayment or credit

One can record a refund to the customer using check or expense, in case:

  • They want to redeem their open credits
  • They made a prepayment for an older but canceled it before receiving the goods or services.
  • They wish to reimburse an accidental overpayment

Making use of a check or expense to record the refund reduces the bank’s balance and offsets the customer’s open credit, overpayment, or prepayment.

Step 1: Record the refund for your customer

  • You need to first choose +new
  • After that, opt for expense, add expense or check.
  • In case you are in a business view, follow the steps to switch to accountant view first.
  • Now, choose the customer you wish to refund from the payee dropdown
  • And then, from the payment account dropdown, select the bank account where you deposited the overpayment to.
  • On the first line of category column, select accounts receivable.
  • After which, you need to enter how much you want to refund in the amount field
  • The next step is to enter in other field as you see fit, and choose save and close.

Step 2: Link the refund to the customer’s credit or overpayment

  • The very first step is to choose +New tab
  • And then, select receive payment
  • Also, choose the same customer you used for the check or expense when recording the refund
  • Enter in the details
  • And in the outstanding transaction section, go for the checkbox for the expense or check you created when recording the refund.
  • It should be noted that in case you have automation to apply bill payments turned on, then this step is done for you.
  • Ensure that the payment is equal to the open balance, and choose save and close.

Learn: How to Create a Proforma Invoice in QuickBooks? 

Conclusion!

Recording a customer refund in QuickBooks isn’t a tough nut to crack. We hope that the information shared in above might be of some help in recording refund in QuickBooks successfully. However, in case of any queries, or if you are unable to record refund even after performing the steps above, then in that case, consult our technical support professionals right away by dialing our technical support number i.e., +1-844-499-6700. Our support professionals will provide you with instant guidance.

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How to print voucher checks in QuickBooks Online? 

How to print voucher checks in QuickBooks Online? 

Voucher checks are basically kept to keep a record of payroll deductions. QuickBooks voucher checks automatically capture payroll deductions and invoice payment details, which saves a lot of time and reduces data entry errors. You can print voucher checks easily in QuickBooks online using basic steps. To help you with the process to print voucher checks, here we are with this piece of writing sharing the complete steps to print voucher checks in QuickBooks online

print Voucher checks in QuickBooks

However, if you need any sort of technical assistance at any point in time, then feel free to give us a call at +1-844-499-6700, and we will provide you with immediate support and assistance.

Also Read: How to Activate View My Paycheck and QuickBooks Workforce?

Different types of voucher checks in QuickBooks Online 

QuickBooks offers three different ranges of voucher checks. Let us evaluate each one of them one by one: 

Voucher check in QuickBooks
  • Secure plus voucher checks – The price range of secure plus voucher checks is $71.68 for 5. You get a built-in alarm system for your checks and by far it is one of the most preferred voucher checks that provide exclusive tamper-resistant security coating. If the addressee or payment amount is tampered with, then it produces a visible stain on the secure plus check. These checks are advanced protection against fraud with 23 security features. 
  • Secure premier voucher checks – The starting range for secure premier voucher checks is $78.10 for 50. These maximize your protection against fraud and counterfeit activity with QuickBooks. These checks have a security hologram embedded in the check that makes verification fast and simple. 
  • Basic voucher checks – The basic voucher checks start at $46.24 for 50. It saves time and maintains accuracy. They are designed to work specifically with QuickBooks on laser printers. The payroll stubs present on a voucher check track deductions and payment details that further help in easy recording keeping. 

Reasons for printing voucher checks in QuickBooks

The need to print a voucher check might occur for a type of payment. This form of payment is official and aids in creating audit trails from the data entered. One can print this check to keep it on file and it has the following dimensions: 8.5 x 11.5. Other than this, you might need to print a voucher check in the following cases: 

  • For keeping a record of the deductions that you made on the payroll, printing voucher checks is a quick solution. 
  • Furthermore, you can get the invoice payment data using the printer voucher checks. 
  • Also, to save time and minimize data input errors you can automatically print these checks 

You might find this helpful: Fix Intuit Printer Library Error – QuickBooks Won’t Print

Steps to print voucher check in QuickBooks Online 

You might find printing check vouchers in QuickBooks online helpful for accounting tasks or any record in QBO. With the help of this software, you can head to the banking tab before opting for the write checks option. Later on, you need to head to the write checks page and also click on the print tab. In case you want to print just one check, select the check option. On the other hand, if you are printing several checks, then choose batch. 

Voucher checks

Let us check out the steps to print voucher check in detail:

  • You need to first log in to QuickBooks online 
  • Once done with that, click on the banking option from the menu. 
  • Then, choose write checks from the menu. 
  • And enter in necessary data. 
  • After that, head to the write checks window. 
  • Click on the print icon. 
  • In case you have to print a single check, then click on check. 
  • Now, enter the printed check number 
  • If more than one check is to be printed, you need to click on batch. 
  • This will redirect you to the select checks to print page. 
  • After that, opt for the checks you want to print. 
  • Opt for the printer’s name and type from the print checks window. 
  • Now, from the list of available check styles, choose a voucher. 
  • Also, check your company’s name and address printed on the pre-printed checks. 
  • After verifying all the information, you simply need to uncheck the print company name and address. Review the decisions you made and proceed further. 
  • Make sure that the details on the check have been precisely aligned, and the check stock paper must be oriented properly. 
  • The next step is to click on print. 
  • And furthermore, your voucher checks will print in QBO. 

Also Read: How to print W-3 form in QuickBooks Online and Desktop? 

Conclusion! 

Towards the end of this segment, we believe that the information shared above might be of some help in printing voucher checks successfully. However, if you have any queries or if you need any sort of technical assistance at any point in time, then in that case give us a call at +1-844-499-6700, and we will provide you with instant support and assistance. 

FAQs related to Print voucher checks in QuickBooks Online 

Is a voucher check a payroll check? 

Even though one can use voucher checks for any type of payment, voucher checks that come with one check and two pay stubs on a single sheet of perforated paper, make an ideal solution for paychecks and vendor payments. 

Do I need secure checks if banks cover check fraud? 

Well, banks don’t treat losses for business check fraud the same way they treat personal checking account fraud. 

Will voucher checks work with QuickBooks payroll? 

QuickBooks voucher checks are designed in a way to work with QuickBooks software and services, including payroll. 

Which voucher check is right for my business? 

You can choose the voucher check that provides the level of security that you require to help protect your business from counterfeiting and fraud. 

Can I add my company logo to voucher checks? 

Along with other customizations, one can add the company’s logo to voucher checks for a more professional look. 

Other Related Articles:

How to Create a Proforma Invoice in QuickBooks? 

QuickBooks Migration Tool – Download and Set up 

QuickBooks PDF Converter – Download, Fix, and Troubleshoot

QuickBooks Payroll Not Taking Out Taxes [Fixed]

QuickBooks Import Excel and CSV Toolkit

QuickBooks Import Excel and CSV Toolkit

When you use online banking, the transactions are recorded. And to download these transactions, a CSV file is required. A CSV file is basically used to import online banking transactions into QuickBooks. You can import CSV files that include bank transactions, general journal entries, accountant’s changes, and batch transactions in QuickBooks. In order to import CSV files, you need to start installing QuickBooks Import Excel and CSV toolkit. To make the import process easier for you, here we are with this segment sharing the complete details as to how to install QuickBooks import Excel and CSV toolkit and how to import CSV files.

Thus, to learn further, stick around till segment till the end. You can also connect with our technical support team at  +1-844-499-6700, and we will provide you with immediate support and assistance.

Also Read: How to Export or Import IIF Files in QuickBooks?

What is a CSV File?

CSV files are basically simple text files that contain tabular data. A comma separates each field in the file from the next in a CSV file. The majority of spreadsheets support this format including Microsoft Excel and Google Spreadsheets. Also, you can create and edit CSV files with any text editor like Notepad. You can also import files related to some of your vendors and customers. CSV files are also termed as Comma Separated Values.

Why import CSV into QuickBooks?

In order to track finances, it is essential to maintain records of all the data. The CSV file is already in a tabular format and is further supported by spreadsheets. In the case of online banking, there are so many QuickBooks transactions and manually Creating transactions in QuickBooks desktop involves a lot of effort and takes time. Moreover, recording manually can lead to inaccuracy. The concept of importing CSV files eliminates the chances of errors due to inaccuracy and saves a lot of time.

Import CSV files

In order to import a list in the CSV format, you simply have to install QuickBooks import Excel and CSV toolkit. This toolkit includes:

  • Import from Excel and CSV manual – A PDF document with instructions, best practices, and notes.
  • CSV Example Folder – 4 Sample CSV files, one for each type of list
  • XLS Example Folder – A sample Excel file that contains 4 worksheets, one for each type of list.
  • Allowed fields – A reference guide explaining what fields are available for Excel and CSV import.

Steps to install QuickBooks Import Excel and CSV ToolKit

You can try to install QuickBooks Import Excel and CSV toolkit using the set of steps enumerated below. 

  1. Initially, open the file download window for the toolkit and then choose the save tab. 
  2. The next step is to head to the Windows desktop and choose Save. 
  3. Double-click the QuickBooks_Import_Excel_and_CSV.exe on the Windows desktop. This will open the WinZip Self-Extractor window.
  4. After that, choose browse and select the folder where you want to install the toolkit. 
  5. Also click on the ok tab. 
  6. The next step is to choose Unzip to extract the contents and choose Close to close the WinZip self-extractor window.
  7. You now have to open QuickBooks Import Excel and CSV folder from the location you opted for. 

Here is: How to Delete Duplicate Transactions in QuickBooks? 

Export CSV files 

One can try to export a list as a CSV file, in case you do not have MS Excel installed on the system or if you want to view and edit the data using a different format. 

Customer and Vendors 

  1. The very first step is to open a Customer/vendor Center 
  2. After that, choose the Excel drop-down and select
    • Export customer/vendor list, in case you want to export customer/vendor data such as name, balances, and contact information. 
    • Export transactions, if you wish to export transactions (either by name or transaction type)
  3. Now, in the export window, you are supposed to create a comma separated values file i.e., .csv file. 
  4. Furthermore, choose export. 
  5. After that, assign a file name, and select the location where you wish to save the file. 
  6. Open and edit the file as needed. 

Also Read: How to Resolve QuickBooks Unable To Export To Excel Error?

Items 

  1. Here, you need to lists menu and further opt for the Item list 
  2. The user needs to then opt for the Excel drop-down and select Export all items. 
  3. And furthermore, select Create a comma separated values file in the export window. 
  4. Now, choose the export tab. 
  5. You need to then assign a file name and select the location where you want to save the file. 
  6. And lastly, locate, open, and edit the file as required. 

Reports 

  1. At first, open the report 
  2. Furthermore, choose the Excel dropdown at the top of the report 
  3. The next step is to choose create a new worksheet 
  4. Now, on the send reports to Excel window, choose Create a comma-separated values file. 
  5. Now, go for the export tab. 
  6. After that, assign a file name and select the location where you want to save the file. 
  7. The last step is to locate, open, and edit the file as needed. 

Also Read: How to Resolve QuickBooks Unable To Export To Excel Error?

Conclusion! 

The process of setting up QuickBooks Import Excel and CSV toolkit is easy and involves a few basic steps. Hopefully, performing the above steps carefully might be of some help to you in successfully importing QuickBooks Excel and CSV toolkit. However, if you have any queries even after performing the steps above, or if you need any sort of technical assistance, then, in that case, feel free to consult our technical support team at  +1-844-499-6700, and our certified QuickBooks ProAdvisors will answer all your queries immediately. 

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