Adjusting the GL for Accounting Clients by Item and Account
QuickBooks® reports are largely based on two different lists – Accounts and Items. QuickBooks uses the Chart of Accounts and the Trial Balance balances to generate financial reports like the Balance Sheet and Profit & Loss. QuickBooks also uses the Chart of Accounts for the General Ledger and other standard financial reports like those found in any accounting software product.
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Editor’s Note: This is the last in a series of 10 tips on improving your productivity in QuickBooks. To view all tips, visit Intuit® Accountants News Central and click on the category, “Ways to Be More Productive.”