Key Issues to Consider When Using QuickBooks

Thank you to KerberRose for participating in Career Options “Make it Happen in 2017-2018” resource guide for area companies! Please see below for their response to one of the questions we addressed:


Explain some key issues to consider when using QuickBooks:


– Are you looking at outstanding checks and deposits on the reconciliations to determine if checks need to be re-issued or written off as duplicates?

– Are you looking at the aged accounts receivable report to follow up on collections?

– Are there any zero balance accounts receivables that are on the aged receivable report that need to be “cleaned up” by applying any credit memos to invoices?

– Are you using the description field in screens to document anything that may be helpful when looking back at the transaction?

– Are you separating the principal and interest portion of note payments?

Are you using the closing date function with a password to prevent accidental changes to balances that have already been used for reporting on tax returns – corporate returns, payroll returns, sales tax returns?

– If you have a company retirement plan, and you process payroll through QuickBooks, do you have the company match payroll item setup up to avoid manual calculations?

– If you process payroll through QuickBooks, do you have procedures in place to handle end of year payroll issues (Bonuses, including Christmas bonuses/gifts, Personal use of company vehicle, Group term life insurance over $50,000 of coverage, S-Corporation health insurance, Changing the state unemployment rate for the upcoming year for proper calculation of expense and accrual for the new year)

– Are your vendors properly set-up to do your 1099 reporting at year-end?

KerberRose is a Wisconsin certified public accounting firm dedicated to serving the people and businesses of Northeast Wisconsin. With over 80 professional staff members and offices in Shawano, Green Bay, Fox Cities, Clintonville, Sturgeon Bay, Sister Bay, Rhinelander, Oshkosh, and Wausau, we combine the expertise of a leading regional firm with the convenience, familiarity For more information regarding these topics, please contact:



Jim Mathes

4211 N. Lightning Drive, Ste A | Appleton, WI 54913

Phone 920-993-0105 | Fax 920-993-0116 • |

and passion of a local provider.

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