QuickBooks’ structure is universal enough to appeal to millions of small businesses. But not all small businesses are alike. Custom fields help you shape it to meet your company’s unique needs.
If you’re using QuickBooks, you probably know that you’re complying with the rules of double-entry accounting. The software is designed such that you can be compliant with these requirements without even being aware of it. You’re dealing with invoices, purchase orders, bank account reconciliation, bill-paying, and payroll; not debits and credits and journal entries. QuickBooks does the double-entry part for you in the background.
While every business that uses QuickBooks is following those same double-entry accounting rules, each has its own unique structure and its own need to modify some elements of the program to do certain tasks, for example:
- Store more specific information about customers, vendors, and employees in their records,
- Differentiate between variations of similar inventory items, and,
- Create more targeted reports.
This is where custom fields come in.
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