AMA or Ask My Accountant QuickBooks is one of the several features of the accounting software. Depending on how you use it, you can understand it as a feature or account type. Mainly, when you have a number of transactions and want to simplify the data, AMA comes into use. As it serves multiple functions, it becomes essential to know more about what this feature is and how you can use it. On deciding to use it, you can create an Ask My Accountant account. In it, you can add the transactions and expenses with the correct values. This financial information, along with any memos, gets formed into an Ask My Accountant report. When you run the report, you can get detailed information of items in one place.
What is Ask My Accountant in QuickBooks?
AMA is a type of account in this accounting software. For some users, it may work as a spare account to keep a note of things that may not be specified to any particular account. Due to its functioning like the ability to convert into a subaccount, Ask My Accountant in QuickBooks can also work as a feature.
Where is Ask My Accountant in QuickBooks?
You can find a feature called Chart of Accounts in the Intuit software. It comprises the default accounts of users. Since Ask My Accountant QuickBooks also works as an account by default, you are likely to find it in COA. You can arrive at this feature by opening the menu for Company. Find the tab for this chart. Then look for the default account in it. On finding it, you can proceed with its use.
Why should You Use Ask My Accountant feature in QuickBooks?
Sometimes you may have certain transactions. You may be unable to code them or may not know how to do so. You can move or enter such transactions into AMA. The feature is the most useful when the transactions are large. These can be inclusive of an asset purchase.
Other than this, you can use the Ask My Accountant feature in QuickBooks for these reasons as well:
- AMA comes in handy when you have the details of several transactions and wish to review them.
- Certain assets may depreciate at some point in time. Thus, their nature can be doubtful. You can keep them in this feature or account type. In addition, a user can assign a memo while reviewing the assets.
- It is important to realize that in some scenarios, you may require a subaccount. A preference can be given to Ask My Accountant for the purpose.
- The AMA feature can play a role when you want to reconcile in QuickBooks, QBO, QB Desktop. Mainly, it can make your transactions more organized and, thus, simplify their reconciliation.
- It removes a transaction(s) of questionable nature from affecting your accounts. Thus, the reconciliation procedure becomes accurate.
- For any coding-related processes, you can run Ask My Accountant.
How can I Create Ask My Accountant QuickBooks Account?
For availing of the functions of QuickBooks Ask My Accountant, you can create an account from the Accounting tab. It should show you the AMA feature. You can select it and then add information relating to your business expense. Eventually, when you finish making the account, a report will be run carrying the details of every item you add.
- On running QB, you have to go to “Accounting”.
- Tap on “Ask My Accountant”.
- Now, you can do the following in this account type:
- Categorize your business expenses.
- Add a description for these financial entries.
- Enter the amount that relates to these expenses in QuickBooks.
Wait for the feature or account to start running a report. You can see various items through it. A user may refer to this as an Ask My Accountant report in QuickBooks. As it begins to run, you will have finished creating the account.
Note: You can add Ask My Accountant in QuickBooks Online as well. This is done by creating an account for it. You can try using these directions to make it. For QuickBooks Desktop users, it will be best to connect with the customer support of the developer. It should help you know whether the feature is accessible and how.
How to Delete AMA or Ask My Accountant QuickBooks?
It is understandable that AMA can be useful for various processes in the software. Even then, when you do not require its use, you may delete it. To remove Ask My Accountant QuickBooks, you can open Settings by pressing the Gear-like button. From here, you have to find Accountants. In this tab, you will be able to locate AMA by name. Then you can use the Delete option to stop using the feature or clear it.
- Please press the “Gear” button.
- Arrive at the option “Manage Users”.
- Choose the tab for “Accountants”.
- Find the name that you have assigned to AMA.
- Press “Action” near that name in this direction.
- Now, you have to choose “Delete”.
- In the end, please hit “Confirm” and end this method.
Note: You may create a fresh AMA account in the future, should you require it again.
To Sum it up
The Intuit accounting software is utilized for several features. With AMA, you can aim for better utilization of QuickBooks. With the methods to create the account, you can easily begin the use. Also, you get the flexibility to remove the account as and when you want to.
Ask My Accountant or AMA is a feature of QuickBooks. It lets you add expenses. You can enter various types of expenses by using this feature. AMA additionally helps you to insert a description for the expense that you are entering.