ReleaseWire Connect

QuickBooks Online uses the company's home currency for all records, including sales, purchases, and the chart of accounts. If the company uses more than one currency, it may be convenient to enable the multicurrency feature.

QuickBooks stringent security measures require that the password be changed every 90 days, while also requiring a unique password for each data file.

Negative inventory in QuickBooks is caused when sales transactions are entered before the corresponding purchase transactions are entered.

QuickBooks' performance is affected as the size of the company file increases.

In QuickBooks, the file with the TLG file extension -Transaction Log that accompanies the .qbw.tlg file is a file that aids in recovering a corrupted data file.

Optimizing QuickBooks files would include performing several actions to ensure that QuickBooks run smoothly and efficiently.

Experts recommend purging or erasing data over manually reversing every transaction, although there are a few limitations, such as the QuickBooks Online company must be fewer than 60 days old, and that customers, transactions and accounts will be lost. If it has been more than 60 days, a new QuickBooks Online company would have to be created instead.

Frequent crashes, out of balance BalanceSheet, corrupted or glitchy Memorized Reports, slow performance and data discrepancies are just some of the manifestations of a corrupt QuickBooks file.

QuickBooks' experts recommend optimizing QuickBooks files larger than 500MB every 6 to 12 months to ensure they run at optimal performance.

The multi-currency feature is useful when more than one currency is being used.