Within the QuickBooks preferences section (Edit, then Preferences, then Accounting), you'll find a tool called the audit trail. For many businesses, this tool can be quite handy, especially if you are working in a multi-user setup.

In a nutshell, the audit trail feature allows QuickBooks to record a history of everything that is done within the company file. Any addition, deletion or modification is reported in an "audit trail report" (found by clicking on Reports, then Accountant and Taxes, then Audit Trail). The benefit of having this history is that you'll know at any point in time who was doing what within the company file.

If you take a look at the "audit trail report", it provides a list of the transaction, the date and time of the transaction, the person who entered, modified or deleted the information, and the other pertinent details of the transaction. No more guesswork about who changed something in the file!

Here's a suggestion for using the audit trail - if you are the main bookkeeper, but the business has someone handle your work while you're out on vacation, turn the audit trail on while you're away. This way, you'll be able to see exactly what was done while you were gone, and possibly find and fix mistakes that might have been made too before things get crazy during the month- end closing process.

Like any other QuickBooks preference, a check mark in the "use audit trail" option means it's turned on, and working in the background for you 24/7 every day.

I need your help. As you know, there is no charge for receiving this QuickBooks newsletter every month. My hope is that you've found several things (if not many) in it to help you work more efficiently with the software each day. Can I ask for a favor in return?

In just a few short months, I'll be joining over 1,800 bicyclists as part of the Ohio Buckeye Chapter/National Multiple Sclerosis Society Pedal to the Point event. Here's why we ride...

Every hour of every day, someone hears the words, "You have multiple sclerosis." They enter a time of unpredictability when they wonder each morning if they will see, if their legs will work, if they can pick up their child.

We also ride so that we can continue to fund cutting edge research into the cause and cure. Research that has developed 5 therapies for the treatment of multiple sclerosis. Research that will continue, until in the end, 2 hours pass when no one is diagnosed, then a day, then a week, until the day when no one is diagnosed, and the cure is found.

Can I ask you to make a pledge toward my ride? Any amount is appreciated - my goal for this year is $1,500. There are 2 easy ways to pledge:

1. Make a check payable to the National MS Society and mail to Scott Gregory, c/o Bond Technology, Ltd. 2786 SOM Center Rd. #200, Willoughby Hills, Ohio 44094
2. Make an e-pledge directly at the National MS Site. Click here to make an e-pledge.

On behalf of the National MS Society, thank you very much for making a pledge toward my ride.

Ever wish you could have a CFO as part of your team without having the hefty salary that goes with that position? Now you can.

I've created a new service called "Checks and Balances" for small businesses that want to strengthen their bottom line. It's designed to provide the timely insight and benefits of CFO level advice to business owners.

Here are some ways that your business can benefit from my "Checks and Balances" service:

• Streamline and focus your job and project costing systems
• Develop strategies for improving your cash flow
• Establish more efficient controls over your inventory management and purchasing
• Unlock the meaningful intelligence hidden in your accounting system
• Simplify your accounts payable and receivable systems
• Clarify the "geek-speak" and establish a solid technology plan
• Much, much more

"Checks and Balances" can be set up whether your business is located 10 or 1000 miles away from my office.

Download my free publication, "8 Critical Tips for Better Business Finance" , and learn more about how "Checks and Balances" can help you today by clicking here.

Question #1: What is the "Define Fields" box on the Additional Info tab of my customers and vendors all about?

A: The "Define Fields" box is a way for you to customize QuickBooks with additional information about your customers, vendors, and employees.

Here's an example to help clarify - let's say that you'd like to keep track of the web site address of your customers. Click on the "Define Fields" box, then in the column "Label", type in "Web Site", then put a check in the "Customers:Jobs" column, then click "OK". Now, you have an additional field to record the web site address for your customers. Even better, this field can be used in various reports as well!

Question #2: What happens if I do business with a company both as a customer AND as a vendor?

A: As you've already discovered, you can't have the same exact name in QuickBooks more than once. It simply won't let you do that.

Here's my suggestion for working through this dilemma - In the "Customer Name" box, put in the name of your customer as usual, then add a - Customer to the end of it. Same thing for the vendor entry, but add a - Vendor to the end of it.

By taking this approach, you sidestep the issue of not being able to have the same name twice, AND you get the benefit of immediately knowing which business you are dealing with (customer or vendor) when working with drop-down lists that have both customer and vendor names in them!

Bring some organization to "My Documents"

Why have all your files show up in one long list in your My Documents folder? Create additional folders in a flash to help organize your files by client, project, etc.

Double-click on the My Documents icon on your desktop (or click on it from the Start menu), then click on File, then New, then Folder. Type in a meaningful name for the folder and hit the Enter key. Then, once you need to save a file in this new folder, just click on File, then Save, then locate this new folder now located inside "My Documents". It's that easy!

A quick note of thanks to all the readers who offered their feedback on the idea of learning more about QuickBooks via Internet-based learning sessions. Your feedback was terrific!

I'll have some exciting news to share with you on this topic in future issues. Stay tuned...

"Awesome!"

"This is really slick!"

"Why didn't you show me this before?"

GoToMyPC can help save gas money by allowing you to easily work from home! What comment will YOU add to this list?

The "QuickBooks: News You Can Use" newsletter is written and distributed monthly by Scott Gregory. Scott is a Certified QuickBooks Advisor, CPA and Microsoft Certified Professional.

Scott is also the president of Bond Technology, a firm that specializes in helping small businesses use QuickBooks effectively and profitably. Feel free to drop Scott an e-mail if you'd like to learn more about the services his company can provide.

QuickBooks is a registered trademark of Intuit. myQuickQuestion.com, Bond Technology and The QuickBooks Cafe' are not affiliated with Intuit in any way.

Please forward this newsletter to those friends and associates that have an interest in QuickBooks software.

The Internet community is constantly evolving, so exercise diligence in your research as you would any other purchase. Bond Technology, Ltd. is not responsible for any third party links or the misuse of those links. They are presented solely for informational purposes.

This newsletter is issued free of charge. Please take a look at the products and services offered in the newsletter to help defray the costs of publication. This publication Copyright 2001-2005 Bond Technology, Ltd. All rights reserved.

Other product and company names mentioned herein may be trademarks and/or service marks of their respective owners.

E-mail: newsletter@bondtechltd.com

Phone: 440-944-2663