Tuesday, March 4, 2008

Microsoft Office Accounting Part Seven- Creating a Check

MicroPodCast – Podcasts for Microsoft Office Accounting Users. Useful bookkeeping, software, and business tips for MS Office Accounting users, consultants, and business owners. Today's topic in our series of tips for MS Office accounting users is CREATING A CHECK.

Make sure that the starting checks number is the same number as on the check in the printer.

The check form provides a similar look and feel as a manual check and it is typically used to write checks for payments that do not arise from the purchase flow. For example, you could issue a customer refund, give an employee an advance, reimburse a petty cash fund, or send a deposit payment to a vendor. You can also use the check form to enter manually written checks into Office Accounting 2007.

This is how it works:

-A check has to be written from a bank account of any type.

-The balance field will show the balance of the checking account before the check is written.

-The payee can be a customer, vendor or employee.

-If the "To be printed" checkbox is checked, the check number will be assigned when the check is printed.

-Checks cannot be deleted, they can only be voided.

-If a check is edited, the original check is voided and reversed and a new check with all the edits is created (similar to other financial transactions).

-If a check contains items or expenses, it is identical to a cash purchase with check as the payment method.

-The posting made by the checks are identical to those of the cash purchase.

-If a check does not contain any items or expenses, it is considered a payment against the balance of the selected vendor (or customer).

-You can purchase pre-printed checks for Office Accounting at www.microsoftchecksandforms.com.

Printing a check is similar to issuing payments to vendors. Click the Print Checks button in the Banking home page and select the bank account and the checks you want to print.

I hope these Microsoft Office Accounting tips are helpful. If you are using QuickBooks, check out our new QuickBooks series or visit The QuickBooks Gal podcasts.

Next time: Making Deposits

If you have questions, drop me a line at info@custmbiz.com. I look forward to your comments and questions. Custom Business Solutions supports many software accounting packages such as QuickBooks and Peachtree as well as a variety of Point of Sales programs.