Pondering the confusion question

When faced with a mound of paper, in banker boxes and in drawers it can all appear overwhelming and insurmountable. Months or even years of no data entry, it’s enough to make a grown bookkeeper weep.

Something can be done about it, as distasteful as it may seem. Start somewhere.

The basic idea of bookkeeping – CASH IN, CASH OUT. This command tells you where to start, no matter what the boss or the client says. After all, the boss or the client created the mess in the 1st place….right?

So….start with CASH IN, CASH OUT. What’s that in the real world? It’s the bank accounts where money comes in to the business and exits the business for day to day bills and expenses.

Your weapons of choice in this quest are the sequential bank statements covering the period of no data along with the super QuickBooks tool of “remembering transactions”.

You can have QuickBooks pre-fill new transactions based on previous transactions.

To do this task

1. Open the general preferences.

2. Click Automatically remember account or transaction information.

3. Click one of the following two preferences.

Automatically recall last transaction for this name:
Sets up QuickBooks to remember the previous transaction for a person. When you enter a new transaction, QuickBooks
automatically fills out the form with information you entered in the last transaction of that type for that person. For example, when
you enter a vendor’s name on a bill and press Tab, QuickBooks fills in the bill just like the most recent one you entered for that


This preference works only with bills, checks, credit card charges, invoices, and sales receipts. For invoices and sales receipts, it
completes Ship Via, Ref Doc (PO Number), and Free On Board (FOB) values. This preference has no effect on purchase orders,
payroll liability checks, or credit memos.

Pre-fill accounts for vendor based on past entries: Sets up QuickBooks to pre-fill the account for a vendor transaction based on
previous transactions for that vendor. QuickBooks remembers all your recent transactions for a vendor, not just the most recent
one. If you consistently use the same account for a vendor, QuickBooks will automatically pre-fill that information any time you
select the vendor in a bill, check, or credit card transaction.

How does QuickBooks know which account to pre-fill?

This preference is “smart” about when to pre-fill account information when you select a vendor. For example, if you pay the rent
every month from the same account, QuickBooks will soon start to pre-fill the bills you enter to your landlord with the usual

When you use different accounts for a vendor, the account will not be pre-filled. For example, you might write checks to a
warehouse supplier out of several different accounts, depending on the purchase. So the next time you write a check to that
warehouse, QuickBooks will not pre-fill the account.

4. Click the OK button.

You can always override any pre-filled information in a transaction.

Bad news? At first, the data entry task will be huge. Good news? As you proceed with your data entry, based on the sequential bank statements, you will build up the history of transactions in QuickBooks. Each entry gets you closer and closer to your goal of re-creating a true and accurate picture of how the business lives and breathes.

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