In my blog dated July 09, 2012 (http://bit.ly/LJAmHo), I answered a client question which asked if they could keep two sets of books—one set for tax returns, and one for management use only. My answer was of course.
This led to a question about how to do this in QuickBooks. In the screen capture video below, I show you how to switch from cash to accrual financial statements, and how to set the preferences so one opens as a default.
Sample companies are a great tool to use when you are experimenting, training or looking for the best way to setup QuickBooks correctly.