- Right-click on the "company name" in the
grid and select Rename from the popup menu.
A dialog screen will be displayed that
enables you to rename the file.
- Highlight the file you want to rename by
clicking on any of its data in the grid.
Then click the RENAME button on the toolbar. A dialog screen will be
displayed that enables you to rename the
file.
Can I import the trial balance
from my accounting program?
Yes. If you can export your trial balance from your accounting
program to one of our import formats, you can import your trial balance into
QTB. If your chart of accounts is already setup in QTB, you can still
import your trial balance and QTB will just import the balances without
adding the accounts twice. To import your trial balance, select the
Import option from the File, Chart of Accounts submenu.
How do I maintain both a book and a tax trial
balance?
QTB can maintain up to 3 books in one data file. You will be able
to make adjustments that affect one or all methods and print separate trial
balances that can be grouped independently of the other books you are
maintaining. When you create your data file, you specify how many
books you want to maintain.
What are account types?
Each account has an account type assigned to it that identifies what type
of account it is. For Example, a "Cash" account would be assigned an
asset type of "Assets - Current" to indicate it is a current asset.
Account types are used to distinguish between balance sheet accounts and
income statement accounts when printing various reports.
What are group and sub-group codes?
Group codes are used to group similar accounts together so they can be
reported as one amount on a tax return or financial statement. For
example, if you have 10 bank accounts and want to report them as one amount
on your financial statements, you could assign a group code of "Cash" to
each of these accounts. When you print the Grouped Trial Balance,
accounts with the same group code will be added together.
Sub-group codes are similar to group codes except they are used to group
accounts that have a group code assigned to them. For example, on a
corporate income tax return (IRS Form 1120), you need to know the cost of
goods sold amount to report on page 1, and on page 2, you need to break out
the components of the cost of goods sold, which may be purchases, labor
costs, and various other costs. All the accounts that are to be
grouped together to get the "cost of goods sold" number on page 1 would be
assigned a group code. Perhaps something like "COGS". Any
accounts that need to be added together to get the components of cost of
goods sold would be assigned a sub-group code. Assuming they had 15
different purchases accounts and you only want to report this as one amount
as a component of cost of goods sold, you would assign a sub-group code to
these accounts. Perhaps something like "PURCHASES".
Each account can have 10 different group codes assigned to it, so there
is more than enough for tax groupings or financial statement groupings.
Each group code can also have a sub-group assigned to it. The number
of group and sub-group codes should be sufficient to accommodate any
reporting needs you may have.
Is there a way to enter my trial balance
amounts without setting up the chart of
accounts first?
Yes. Select the option "Quick Entry - Beginning / Prior Year
Balances" from the Chart of Accounts submenu in the Files Menu. This
option will quickly allow you to enter beginning balances (or prior year
balances for up to 10 years). To enter balances for accounts that have
not been entered in your chart of accounts, click the "New" button and you
can add accounts on the fly.
Can I enter work paper reference
numbers?
Yes. Select the option "Quick Entry - Workpaper Reference Numbers"
from the Chart of Accounts submenu in the Files Menu. This option will
quickly allow you to enter workpaper reference numbers for your accounts.
Workpaper reference numbers appear on the following reports:
- Working Trial Balance
- Adjusted Trial Balance
- Lead Schedules
What are journals used for?
Quick Trial Balance allows you to enter cash transactions, and to make
different types of transactions easier to identify when printing the General
Ledger, you can create journals that will indicate the source of the
transaction. For example, if you have two bank accounts that you make
deposits and write checks out of, you could setup a journal for each bank
account so you can easily identify which bank the transaction originated
from.
What are archives?
Archives can be turned on in the configuration option. This option
can be found in the Files Menu. When turned on, Quick Trial Balance
will make an automatic backup of your file whenever you quit the program or
select a different file if changes have been made to your file. This
allows you to have an archival list of backups that you can return to in the
event of data loss or changes that were made incorrectly. You can view
the archive files available for the file you have selected by selecting
"View Archives" from the Files Menu.
Will Quick Trial Balance maintain prior
year balances for my chart of accounts?
You can keep up to 10 years of data for each account in your trial
balance, and these will automatically be updated when you run the option
"Reset for New Year" in the Housekeeping Menu. You can also enter
prior year balances by using the option
"Quick Entry - Beginning / Prior Year Balances"
from the Chart of Accounts submenu in the Files Menu.
You can print a prior year trial balance by selecting the option
"Beginning / Prior Year Balances" from the Reports Menu. Prior year
balances can also be used to obtain comparisons with the current year by
selecting the Balance Sheet Accounts Comparison or the Income Statement
Accounts Comparison reports. The Expense A/C Analysis Report will show
differences between the current year balance and the prior year balance.
There are a number of other reports that include the prior year balance for
reference purposes.
