Clarity and Organization are Key in QuickBooks
Question: Can you clarify “Customers,” “Vendors,” “Employees” and “Other Names”? Too often I use “Other Names.” Is that right?
Answer: No. It is best to set these up correctly from the beginning. Fixing later is difficult.
In this section, QuickBooks allows a name to be used only one time. If you put everyone in “Other Names,” these names are then not available for use as a Customer or Vendor ever again. (And, if you integrate QuickBooks with SAGE Online, your entries will be declined.)
“Other Names” is for people or businesses that are not Customers, Vendors or Employees, such as owners or partners.
And as a rule of thumb, in accounting, the word “other” should be used only with a well-defined note of explanation.
Please email accounting questions you would like considered for the column to HGatter@AccountingSupportLLC.com with the subject line of "Ask the Accountant."
Harriet Gatter, owner of Accounting Support LLC, was an ad specialty distributor for 23 years and an adjunct professor of accounting at Neumann University. She sold her ad specialty business in 2012, became certified as a QuickBooks ProAdvisor, and now works exclusively with ad specialty distributors nationwide on their QuickBooks, order management and accounting needs.