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QBO How to: Set Up Recurring Payments

June 3, 2022

It’s 2022, allowing automatic payments is almost a must. Having automatic invoices generated for payments sounds like a dream but can also be your reality. If you are a business that has customers/clients that utilize your products/services frequently, it may be best to set up auto-pay to streamline the entire process of sending invoices. It seems everyone is looking for the easiest, most efficient way of doing things - and recurring payments is one!

Invoices won’t slip through the cracks, cash flow will be improved, and it’s also green-friendly! If you use QuickBooks for your accounting software, we have good news - the process of setting up recurring payments is a breeze. We provided a step-by-step guide below…

How to set-up recurring payments in Qu

Categorizing Transactions in QuickBooks

April 7, 2022

Are you categorizing your transactions in your bookkeeping? There are many reasons why you should - one being that you can have a much clearer picture of where money is coming and going. As a business owner, it’s essential to be aware which areas of your business are bringing in money and which are taking it. Categorizing transactions will provide additional insight on the financial side of your business. With categorization, expense reports will become easier to read and more helpful in strategizing for the future. Categorization can help you maximize your business’ profitability and provide valuable insight on where costs can be cut.

If you have QuickBooks Online, sync your bank account(s) and credit card(s) to your QB account for automatic entry, categorization, and matching.

QuickBooks by Intuit Breakdown

September 10, 2021

At Skynar Bookkeeping Services, we Set Up, Clean Up, and Keep Up with our clients’ books with the help of the number one accounting software for small to mid-size businesses - QuickBooks by Intuit. There are a variety of plans and services that you, as the user, can pick and choose to fit exactly your business’ needs. 

As a new user, there is a free 30 day trial to test it out and see if it’s the right fit. There are two options available - QuickBooks Online and QuickBooks Desktop. Online is cloud-based so you can access your books from any device at any time. Desktop is installed and accessed on only one computer. 

From there, there are multiple plan options. Choosing the right

QuickBooks How To: Journal Entries

July 16, 2021

QuickBooks allows its users to set up automatic entries so you never have to manually enter debits and credits unless you choose to do so. However, sometimes it’s necessary to manually add a journal entry, like when you’re transferring money from one account to another. QuickBooks Online makes the process a breeze. See below for step-by-step instructions on adding, deleting, and editing journal entries. 

Add

Select “New+” and then choose “Journal Entry.” First, select the Account you need to debit or credit, and then enter the necessary amount in the correct column. Below that, you’ll select the second Account you’ll be moving money to or from, and you’ll enter the exact same amount. 

B

QuickBooks: How To Record Owner Contributions

April 1, 2021

Part of being an owner and running a business includes spending your own hard earned dollars. It’s a fact of entrepreneurship - you’ll likely have to make capital contributions. But, how should you record this in your books? It’s vital that you record it and record it correctly. We’ve had many clients ask us about this, so we made a tutorial to help make the process easier. 

How to Record an Owner’s Equity Contribution:

Go to Record Deposits. 

Select the correct checking account. 

Select the date of the transaction. 

Select the correct owner who contributed the money (this is very helpful if you have multiple o

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Skynar Bookkeeping – Corporate Office – South Lyon, Michigan
13052 Pembrooke Circle
South Lyon, MI 48178
Phone 734-335-7702
Email info@skynarbookkeeping.com
68300 CR 388
South Haven, MI 49090
Phone 734-335-7702
2534 SW 13th Ave
Cape Coral, Florida 33914
Phone 239-361-2100

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