Have you ever found that you know you JUST entered something into QuickBooks, but you can’t for the life of you find it? QuickBooks Online has a recent transactions drop down, which makes this easy to resolve. Here’s how to use QuickBooks Desktop to find what you entered or modified today.
In the video I show you 3 ways to use QuickBooks Desktop to find what you entered or modified today:
- Sort a check register by order entered
- Use the Calendar feature
- Run a report
Sorting the check register is an option at the very bottom, that’s easy to miss. Many clients miss this for years, until someone like me comes along and, I show clients where this option was sitting right in front of them all along.
The next way to use QuickBooks Desktop to find what you entered or modified today, is the Calendar.
The Calendar feature in QuickBooks Desktop is an unsung hero!
This feature makes it so easy to track down transactions entered on any given day. I cringe at how often I show this to clients who tell me they had no idea this was there. This feature dates back a few years and versions ago, but it doesn’t seem widely known. Clients of mine now have this bookmarked in the icon bar, and they use it daily.
The last way to use QuickBooks Desktop to find what you entered or modified today, is to create a report.
You can run a transaction detail report in QuickBooks desktop. The filter based the date a transaction’s was entered or modified. This is important to distinguish from the actual transaction date. If I edit a transaction from 1952, it will show up on a report that displays all transactions dates, that were entered or modified today. I didn’t cover this, specifically in the video, but you can use both transaction date, and entered or modified dates to get some nice reports.
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When I Posted QuickBooks Tip – How To Record Payment Processing Fees, I may have suggested that there was a right way and a wrong way. I do have an opinion as to form. In other words there are different ways to present the information, and some ways are better than others, but that doesn’t mean any of them are wrong.
I prefer to present the total sale on the sales form, and then deduct the fees.
The other way is to use an item on the sales form that links to the credit card processing fees. I don’t love this presentation, because, as you’ll see in the video answer, it reduces the total of the sales form. One solution is to use a sub-total item, so that at least somewhere on that form, you get the total sale, before the credit card processing fees.
MIN is asking if there is a way to track the credit card processing fees back to the item from the sale using my preferred method. (S)He also indicates that (s)he doesn’t want to do it “the wrong way.”
Both ways are correct. In either case you get the right gross sales, and credit card processing fees on the income statement. So it’s not a question of right or wrong. It’s just a question of form.
In a case like MIN’s where recording the credit card processing fees on the original sales form allows for tracking that is even useful, let alone needed, then I absolutely encourage you to use that method.
In my post on How to Record Payment Processing Fees I walked you through the process of recording those transactions. The Undeposited Funds account is affected as an incidental to this topic, because they payments you receive, where the processing fees are later deducted in the Make Deposits dialogue, clear through Undeposited Fnuds.
Julie recently wrote in on this post asking for help with Undeposited Funds, based on an issue that is apparently cropping up from trying to record similar transactions with payment processing fees involved.
The issue Julie is having is that she has a large negative balance in her undeposited funds account. I have no way of knowing for sure, how to troubleshoot this, without actually looking at Julie’s live data, but this video answer should give you some ideas about how to troubleshoot, and then fix undeposited funds.
Here are some other resources that will help you better understand how to work with the undeposited funds account in QuickBooks:
When I get a new client, and they are using QuickBooks Desktop for their accounting system, one of the first things I do, is run a report to see, at a very high level, what we’re dealing with. I want to know how far back the data goes, and I want to be able to do that analysis quickly. This help file video shows you how to find how far Back a QuickBooks data file goes.
Why is it useful to know how far back a QuickBooks data file goes?
Once you have run these reports, you can start to analyze the company’s financial information at a high level. This can give you great insights into what has gone on with the company since the beginning of time. You’re going to want to ask the client, if this is the one and only data file out there. This is to be sure they didn’t at some point in the past, use something else, or start a new QuickBooks file. Once clue when you’re looking at how far back a QuickBooks data file goes is to look at the year 1 activity. Most companies have much less going on in the first year, and this should present itself clearly when you are looking at annual numbers, side by side. If the first year looks too consistent with the subsequent years, then there is a good chance, the QuickBooks data file you’re looking at doesn’t have all of the history.
When you are analyzing how far back a QuickBooks datafile goes, and you don’t see what you expect to see in year 1, ask the client when they started the company. You may find out that the company was started before the first year in the QuickBooks file you’re looking at. Then you have to decide if it’s important to you, to be able to see that information. In many cases, it may not be.