Using Memorized Reports Groups in QuickBooks

This is a handy feature, especially for Property Management firms to track monthly recurring sales that are not all the same.

Note, if they are the invoices are all for the same amount, like and HOA (Homeowners Association), then it is easier to do this with the feature Batch Invoicing.

First you have to create your group.  Go to list, memorized transactions list and create a new group.

Select memorized transaction and then new group.

Here I created a Monthly Rents Group, to automatically enter, monthly.

Next create the invoice and go to edit, memorize.

Then attach it to the newly created memorized group, Monthly Rents

Here you can see it is now in the monthly group.

This group will automatically enter for you monthly.  You can edit any of these transactions, for example, when a tenant's rent increases or when they move out and you want to remove them.  You do this by going to the List, Memorized Transactions List page.

Lynda
Check out my website www.artesanibookkeeping.com

Invoice Numbering Doesn't Work in QuickBooks

Has this happened to you?  I started working with a new client and somehow the invoices came up with a punctuation in the number.  It looked like this:

Invoice with Invoice # 210.

To fix this, enter a new invoice, sales receipt, etc., and change the number in the invoice number spot.   Then click the little "save" icon.  It is on the top of the invoice next to previous and next.  Then click save and NEW.

Once you have done this and clicked save and NEW, the next invoice will come up with your new numbering:

This will work if someone accidentally modified an older invoice and clicked save and NEW and restarted the numbering from the past (which will cause you to create duplicate invoice numbers).  I have also used it when someone has entered a credit memo and used the invoice number as the credit memo number with CM before it.  This caused this client to have their invoices numbered CM101, CM102, etc.  Even though they modified a Credit Memo, it caused their invoicing to renumber.  This method will restart your numbering back on track.

Lynda
Check out my website www.artesanibookkeeping.com

Creating a Second Bank Account in QuickBooks

This may seem like a simple thing to do to most QuickBooks users.  But for some reason, I see this over and over again as a question on the QuickBooks Community Forum.

To do this, open QuickBooks.  Click on your home page (if it is not by default on the screen), then click Chart of Accounts (top right side of home page):

Home Page

Chart of Accounts

Next click "Account" and then "New":

New Account Screen

Select Bank and then enter the next screen.  Do not enter a balance in the opening balance box.  Usually, when you start a new bank account, you write a check from the old one (or make a transfer) and open the new bank account this way.  If you use the opening balance box, it will put the funds in opening balance equity account.  You do not want funds there.  See these other posts for how to write a check to start a new bank account or how to transfer from one bank account to another (if done online).

Completed Bank Screen for New Bank Acct.

You have now created a second bank account.  This account could be a checking account, CD, Savings Account, Money Market account or a Barter-type Clearing Bank Account.

The final step is to put this bank account as a default bank account if it is opened to be used for a specific purpose.  Is this the new payroll bank account, new operating account, etc.?  Then go to edit, preferences, checking and make this new account the default account that comes up.

Preferences Screen for Checking

These are all the steps on how to enter a second (third, fourth, etc.) bank account.

Lynda 

Check out my website www.artesanibookkeeping.com

Random Acts of Kindness.....

Today's post is QuickBooks related but also is about how nice some people can be.  Yesterday, I received a telephone call from a woman who found me on the QuickBooks forum.  She was very upset and told me that she was working in QuickBooks and suddenly there was a power outage in her area.  Her computer shut off completely.  When she opened her program after the power outage, her QuickBooks screen looked totally different. 

The first thing that she did was restore her backup.  She backed up regularly.  Well, the backup restored and the screen looked the same.  So she looked on the forum for an answer and found me.  So she telephoned me.

I asked her what screen was different and she told me that it was her check register.  So I told her to look at the bottom left side of the screen.  There is a small drop down box.  It will say one line or two lines.  Change the selection.  She did and problem was fixed.  That was the only reason her screen looked different.  She was so happy.  So she asked me what she owed me for my time.  Well, to be honest, my time for this question was approximately 3 minutes. So I told her not worry about it and have a great day.  And keep doing a backup regularly. If she needed any further help, feel free to contact me. 

I hung up the telephone and thought about how happy these few minutes really made this lady.  She was so grateful.  It made my day.

I have read other blog posts (from other ProAdvisors that I follow and from Intuit).  One of the posts was regarding people who contact you from Intuit's community forum.  Since it is free, people contact you because they think you either work for Intuit or you will help them for free since you donate your time there.  Now, I am not saying that you should not charge for your time as that is what you do for a living.  Clients should pay for all of the hours of study and all of the years of your knowledge and experience.  However, sometimes, it can be just as gratifying to help someone out, which is really why you volunteer time on Intuit's Community forum. 

Today, my doorbell rang.  It was a delivery person with a box for me.  I opened the box and in it was this beautiful bouquet from the lovely lady who I helped for 3 minutes the day before.  So, thank you, Kay, you made my day and my week!

Lynda 

Check out my website www.artesanibookkeeping.com

Entering a credit card refund in QuickBooks

So you know how to enter credit card transactions in QuickBooks, but what if you return an item to the store and they credit your credit card?  How is this entered?  Very simply:

Go to banking>enter credit card transactions just like you would do if you were to enter a credit card charge. 

At the top of this screen, change the "dot" to refund.

 

That is all you have to do to enter this type of transactions.  Be careful not to "forget" on the next transaction to change the "dot" back to the credit card charge if you are entering multiple transactions.

Lynda 

Check out my website www.artesanibookkeeping.com

My lists have all disappeared in QuickBooks!

This is a timely post since I have seen more than a half dozen people this week have this issue.  Also, Scott Gregory, QuickBooks Guru wrote a similar post for how to fix the problem.  

So, why does this happen?  Usually caused by data base fragments or a data file problem.  

How do you fix this?  Try these few steps:

1. Close QuickBooks and shut down your computer and reboot.  Open Quickbooks, are your lists back?


2. Resort all of your lists.  Open the Vendor Center, click edit>resort list.  Do this for the Customer,  Employee (if applicable), Chart of Accounts lists too.  Check again to see if the lists have returned.


3. Here is a step I did not know about (thanks Scott), Go to Banking, Write Checks and put your cursor in the "Pay to the Order of" field and click CTRL + L. In the name window that appears, head to the bottom left hand corner, click the Name box, then click the Re-sort list option.  Look to see if the lists have returned.


4. Lastly, you can go to File, Utilities, Rebuild.  Do this 3 times.  Close out of QuickBooks and reopen.  See if your lists have returned.

A few years ago, I had the same thing happen to a client.  None of the above worked and we ended up restoring the last backup.  Going forward, you should refer to my other post "Keeping your Data File Healthy", which if you do this bi-annually, you will avoid some of these things from happening.  Also, it is so important to use the File, Backup function in QuickBooks.  

Lynda 

Check out my website www.artesanibookkeeping.com

New changes to the ProAdvisor Program starting this Fall

They have changed the ProAdvisor program starting in November, 2011.  We will now be getting a copy of QuickBooks for Mac.  I have a feeling this will be a useless addition for most ProAdvisors, but if you own a Mac, you will like getting the program included with the membership.  I also think that many more people are purchasing a Mac, especially the 30 something crowd.  The program is very different looking (it is Mac-like) and of course, has less features than I would like to see.   But it is definitely coming along and it is getting better with each new version.

All ProAdvisors will be classified in levels.  It all depends on your certifications and how long you have been certified.  That is good for me because I should be listed in the Diamond level (at least that is what I think it will be called).  This is due to my Advanced Certification and many other certifications and years in the program.  Along with the "levels" you get discounts and other perks based on the level achieved.

So if you are a self-employed bookkeeper doing QuickBooks for various clients, you should consider the wonderful value in becoming a ProAdvisor.  Here is a link to a blog by Pat Hartley that tells you about the upcoming changes. The ProAdvisor program may seem expensive, but you get a ton of software with it.  You also get the testing that you need to be certified and you will be listed on the ProAdvisor search engine.  Many clients that call me locally find me through that site.

Please note that I do not work for Intuit and the above notes are just my own opinion.  But if you are just starting out with a new business, I highly recommend signing up to be a ProAdvisor.  It was one of the best business decisions that I made when I started my business all of those years ago.

Lynda 

Check out my website www.artesanibookkeeping.com