Comments on: How Do I Use Quickbooks To Track Clients Who Miss Their Monthly Payments?

By: Shay

Shay — Fri, 09 Oct 2009 13:57:10 +0000

I honestly think you would be best served to have a QuickBooks professional come into your office and help you with two things:
1. Train you on the correct process for recording and applying client retainers.
2. Document typical bookkeeping procedures for you, so that you can refer to the documentation when doing mundane bookkeeping tasks.
The reason I think this is that your situation is more complex than normal, and you are not familiar with accounting principles or terminology. Although QuickBooks is an excellent program, it’s only as good as the user. If the user doesn’t understand how to use it, then the user will end up with incorrect reports, which can be difficult and expensive to diagnose and correct.
It’s better, and less expensive, to get the personal help you need right up front, than to struggle along for months, or even years, and end up with an embarassing mess.
Take care and best of luck to you in whichever way you decide to go.

By: Jose

Jose — Fri, 09 Oct 2009 13:13:31 +0000

In all honesty, I don’t believe QuickBooks can help you with that. BUT, I did find a QuickBooks add-on that can help – one of the features it offers is RETAINER TRACKING. Make sure you check out the website:
BillQuick – Time and Billing Done Right
BQE Software
http://www.bqe.com
Pricing: $395 for 2 users (Basic), $795 for 5 users (Pro)
Who it’s for: BillQuick is targeted to companies who track time and reimbursable expenses, and who bill for those costs.
Simply stated, the BillQuick Time and Billing software is the most comprehensive time and billing system on the market today. From appointment scheduling integrated with Outlook, to project management, time tracking, job costing, web based time entry, RETAINER TRACKING, electronic and paper-based invoicing, flexible reporting and analysis, and complete, smartly-designed integration with QuickBooks, this product is simply the best choice for professionals.