QuickBooks Tip: Maximize New Features in QuickBooks 2018

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This fall, Intuit released QuickBooks 2018 for Windows users. A slate of new features and functionality are available in the latest release – from enhanced collection tools to time-saving shortcuts. Below are a few of our favorites.

  1. Multi-Monitor Support. In today’s digital age, dual monitors are often the norm rather than the exception, and QuickBooks 2018 is ready to embrace this trend with its multi-monitor support. The multi-monitor mode (MMS) features allow users to more easily work across up to three screens. By selecting the View pull-down menu and then Switch to Multi-monitor Mode, each open window will now display options to Move window to next monitor. Creating an invoice on the left screen while viewing an invoice on the right is just one way users will be able to work more quickly as they view important information across multiple screens at once.
  2. Cash/Accrual Toggle. Formerly, accessing the cash to accrual report option required multiple clicks in the Customize Report Users are now provided with a radio toggle directly on the report itself, easing the transition between cash and accrual. This easier-to-use option may also raise concerns on the reporting results that appear when the toggle is used. Remember, improper use of the customer invoice and vendor bill modules may cause cash to accrual errors. If you see accruals on a cash-basis report and don’t understand why, reaching out to your accountant is a good idea. There may be misapplied credits, erroneous customer/vendor balances, or other behind-the-scenes matters causing these issues.
  3. Search in Chart of Accounts. If you have ever scrolled through a seemingly endless chart of accounts lists looking for a general ledger account by name or number, you will appreciate the overdue search feature now implemented in the chart of account screen. However, bear in mind that a longer than necessary chart of accounts could indicate an opportunity to clean up the books, including inactivating and/or merging accounts where feasible or otherwise simplifying reports by restructuring the chart of accounts. Your accountant can work with your company’s books and recommend changes where necessary.
  4. Merge Duplicate Vendors (in the Premier Accountant Edition). Speaking of cleaning up the books, an unruly vendor list is one sign that a QuickBooks file may need some TLC, and the new ability to merge duplicate vendors is a great way to restore order. Having an up-to-date vendor list that includes full names and addresses, omits duplicate entries, and inactivates vendors where necessary can help lower the risk of employee fraud (such as setting up counterfeit vendors).
  5. Past Due Stamp. QuickBooks 2018 will now allow users to print a red “PAST DUE” stamp directly on an invoice before resending it to customers. QuickBooks already includes helpful collections features via the Income Tracker, such as batch print of customer statements. Regular monitoring and follow-up of accounts receivable can help expedite customer payments and reduce the number of write-offs.
  6. Copy and Paste Line Keyboard S Many QuickBooks power users swear by keyboard shortcuts to accelerate their work on common tasks, such as maneuvering through fields in a file (Tab) or memorizing a current transaction (Ctrl+M). QuickBooks 2018 now allows you to copy an entire transactions row within an invoice and paste it to a new row using Ctrl+Alt-Y to copy and Ctrl+Alt+V to paste. This new shortcut will copy the item, description, quantity, rate, amount, and tax setting all together to a new line item, potentially saving real time when creating some types of invoices. View our guide for a more complete list of QuickBooks keyboard shortcuts.

Do you have questions about QuickBooks 2018? If you would like to learn more about the accounting software’s latest features, please reach out to me or another member of Kaufman Rossin’s QuickBooks consulting team. We can help you get the most out of QuickBooks 2018 for your business.  

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Meredith Tucker, CPA, is an entrepreneurial services manager and a QuickBooks ProAdvisor in Kaufman Rossin’s Ft. Lauderdale office. Kaufman Rossin is one of the top CPA and advisory firms in the U.S. Meredith can be reached at mtucker@kaufmanrossin.com.

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