Using the Same Name in QuickBooks

March 22, 2009

Did you know it is possible to have a vendor and a customer with the same name in QuickBooks? OK, well not quite the same name, but a wise bookkeeper colleague of mine explained how this can be done. Say for example, XYZ Company provides computer services so you setup them up as a vendor named XYZ Company. Now they also pay you rent to share your space, so they are also a customer and here is how to name them: XYZ Company {Customer}. The key is using the brackets. This naming method can also be used for corporate owner distributions who also receive employee paychecks. QuickBooks essentially sees the bracketed text as invisible and the bonus is that the text does not print out on your paychecks or forms. Try it out and be sure to stop back to let us know how it worked for you!

[tags]quickbooks, resources, bookkeeping, kellywilliamsva, kelly williams, virtual assistant, training[/tags]

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