TIP #1 – Allocating Expense Accounts to Suppliers
Did you know that you can set up your supplier cards, so that every time you record a payment, the correct expense account appears on the bills? This trick can save you a lot of time when recording payments and can greatly improve data entry and reliability!!
** In the Supplier card information, under the Buying Details Tab, there is an Expense Account field. In this field, you can select the relevant expense account. Every time you select that particular supplier, it will be automatically linked to the selected expense account.
TIP #2 – Use the Advanced Search Function
When looking for a transaction, instead of browsing through endless transaction journals, you can use the Advanced Search Function to speed up the process and locate that particular transaction. For example – You could be looking for a payment of $70 but you do not know the exact date. You will then need to search for every transaction in your company file for this amount.
** You can choose to search through specific accounts or through all accounts. Searching through All Accounts may take a bit longer but can be very effective.
TIP #3 – Using Recurring Transactions
If you have transactions that you record on a regular basis, for example – Rent Payments, you can set them up as recurring transactions and save them for future use. With recurring transactions, you can specify how often you want the transaction to be recorded and for how long you want to schedule it.
