Two computers, which version of QuickBooks?

Here is another question that I answered from the QuickBooks Forum

Question:
We have two users in separate locations who need to work simultaniously using Quickbooks, accepting credit cards and managing inventory. Which Quickbooks product would be best for us?

Answer:

I would purchase QuickBooks Accountant Premier version and then purchase an additional license. This version is just as good as all of the other versions. It has all the bells and whistles of the other specialized versions, i.e., contractor, retail, etc. You will have the ability to use inventory and accept credit cards. You will need to have different license numbers for each computer in order to simultaneously work on the same data file.

Lynda

Check out my website www.artesanibookkeeping.com

Hiring a good CPA

Joke of the Day:

Q: What is the definition of an accountant?

A: Someone who solves a problem, you didn't know you had, in a way you don't understand.

In my business, I have had the opportunity to work with many CPA's. Many are just like the bad joke above. I can understand them, due to my background, but sometimes they forget that many clients do not know their lingo. The client could care less about a debit and a credit.

So, it is very important to find a good CPA. I have a wonderful one that we share many clients with. His name is Tom LaColle and he can be reached at tlacolle@cox.net. He is very easy to work with and has helped many, many of my clients. He doesn't ever let you leave feeling you do not understand something. He is very patient and he is always helping his clients find ways to keep their tax bill lower. That is what it is all about, isn't it? I am sure every client walks in and says, "I don't want to pay any taxes." But as a wise CPA once said, "if you have to pay taxes, that means you made money this year."

Now is the best time to change or find a new CPA, if you are not happy with your previous one. They will have much more time to spend with you since this is their slow time of the year. So find a good CPA, they are out there.....or email Tom!

Lynda

Check out my website www.artesanibookkeeping.com

Flow chart is missing!

Isn't this a beautiful sight? The Washington Monument was such a beautiful thing to view. I think we took 100 pictures of it.

Now for today's tip:

You opened up your QuickBooks company file and your flowchart is gone! Oh no!

This is an easy fix, just go to the top of the program on the left side you will see in the icons "Home" select it for the home page. You flowchart will reappear.

There was also an update that caused this home page disappear that is not so easy to fix.  Here is the official help page on this problem from Intuit.

Check out my website www.artesanibookkeeping.com

Printing labels in QuickBooks

I have to say this was the most moving part of our trip. Seeing the changing of the guard at the Tomb of the Unknown Soldier is something every American should witness.

Today's QuickBooks tip is probably something that many users of QuickBooks did not even know existed:

Printing Labels in QuickBooks:

It is a very easy thing to do. Just go to file in the left hand corner, print, print labels and then select customers, vendors, etc. You can even only print customers with certain restrictions, like a customer category. That way, if you only wanted to print labels out for a mass mailing to customers that you had previously painted their homes, for example, you could select "paint" customers, (if you had previously categorized them). The sky is the limit and it is a neat feature to use to send out brochures or mailings trying to drum up more business.

And who in today's world, doesn't want more business?

Check out my website www.rhodeislandbookkeeping.com

Need to log onto QuickBooks from 2 locations (1 User)

Isn't the White House beautiful? It was actually smaller in person than I thought it would be. These are more pics from my vacation to DC last week.

Now, onto QuickBooks tip of the day:

So, you own QuickBooks, how can you log into the program from two separate locations?

Today's answer will give you the easiest, most inexpensive way:

You can have the data file on your PC at your office. Sign up for a free program (i.e., www.logmein.com). Now put the software on both computers. Use the PC at your office while you are there. When you go home at night, you can log into the office computer using the logmein program and actually work on the office computer from your home computer. You will log onto the screen and move the mouse on the office computer using your home computer. For a small fee, you can upgrade your logmein product and actually file share and print share with both computers.

Check out my website www.artesanibookkeeping.com

Deleting an account from your Chart of Accounts

I am including more pictures from my fun trip to DC last week.

Now, onto the QuickBooks tip of the Day:

Deleting a Bank Account from the Chart of Accounts:

So, you have set up your new company file and you realize that you entered a bank account twice. How do you remove the duplicate?

• You will need to go to the Chart of Accts.
• Click on the account in question.
• Go to Quick Report
• Run a Quick Report on the Account using the date range "All".
• If there are any transactions, you must delete or move each one.
• Once all are removed, you can go back to the account and right click, delete it.

Remember, if there is any transactions on an account, QuickBooks will not let you delete, so you have to be sure all transactions are removed before deleting the account.

Check out my website www.artesanibookkeeping.com

Just returned from Washington DC

Today's post is not QuickBooks related:

My hubby and I just returned from a 5 day trip to Washington, DC. We had a wonderful time. All Americans should make this required travel. Just learning about this nation's history. Seeing the Capitol, seeing the White House, and we even saw the Declaration of Independence.

I think the highlight of my trip had to be going over to Arlington Cemetery and seeing the Tomb of the Unknown Soldier. Watching the changing of the guard, seeing JFK's burial site were also highlights. We saw so many American tourist attractions. It was just a wonderful trip. Highly recommended.

It truly will make you proud to be an American.

Check out my website www.artesanibookkeeping.com

Back up Back up Back up

I know I sound like a broken record. It seems like I post about backups every week. But it is so important. I would rather you learn from me, instead of learning the hard way. So, what is in a back up file?

A backup file is a compressed file containing everything you need to recreate your company file and QuickBooks environment. Use a backup file to safeguard your QuickBooks files against accidental data loss.

The backup file is saved with a .QBB extension.

Note: To ensure that you can restore your company data in case of accidental loss, create regular backups of your QuickBooks files. You can create a routine schedule for backups to take place, or you can have the backups take place automatically.

Check out my website www.rhodeislandbookkeeping.com

Do you have a customer that is also a vendor?

So you have a customer that is also your vendor. QuickBooks lets you enter just one name and will not allow you to enter the customer and vendor under the same name. How do you get by this restriction?

If you do business with a customer who is also a vendor (or a vendor who is also a customer), add the person's name to both your customer and vendor lists, but vary the name slightly or tag the name with an identifying letter or number. For example, if you have a vendor named ABC Company, you might list her as ABC Company_C (for customer) in your customer list and ABC Company_V (for vendor) in your vendor list.

To make sure that the same real name will print on any invoices or checks for this person, enter the person's real name in the "Bill to" field for customers and in the "Print on Check as" field for vendors. (These fields are at the bottom of the Address Info tab in the New Customer and New Vendor windows.)

Check out my website www.rhodeislandbookkeeping.com

How to remove a vendor from the vendor list

Your vendor list needs updating. How do you get rid of vendors that you have not used in years or maybe never used or maybe have entered and spelled different ways, but is the same vendor:

There are three ways to remove a vendor.

• Combine (merge) two vendors
  For example, if you have the same vendor listed twice, say as ABC Company and as ABCompany, you can merge the two vendor names so that all of the transactions are associated with just one name. Just rename both vendors to the exact same spelling. Your QuickBooks program will allow for them to be merged.
  

• Hide a vendor (by making it inactive)
  For example, if you have a vendor you no longer use, you can hide the vendor's name so it won't appear in the list. Just go to the vendor you want to hide, right click on the vendor card, select "make vendor inactive".
  

• Delete a vendor
  It is better for your records to hide a vendor instead of deleting the name. There are limitations when you delete a vendor. You must make sure that the vendor to be deleted has no transactions associated with it. You should go to the vendor to be deleted and run a quick report. Select "all" for the range. Delete any transactions associated with the vendor and then you can delete the vendor.
  

Check out my website www.rhodeislandbookkeeping.com

Using the Desktop feature

Okay, this is kind of a fluffy topic. No men allowed! So are you bored with the default screen of your QuickBooks file? Yes, you can change the color of QuickBooks desktop. Go to Edit > Preferences > Desktop view > Color scheme.

This is where you can select denim, sahara marble and there is also a nice purple one. It is also a good way to work in a data file if you have one client with many companies. It helps you know which one you are in. I actually have a client who thought it was cute to name his companies all the same name, i.e., ABC company, ABC company II, ABC company III. I use the color scheme to make sure I have the correct company open. I have also used this feature for a client that I may have worked in their data file, but I am not sure if they restored their data correctly. They know they are in the current correct data file by the change of the desktop color scheme.

So try it out. It is sometimes just easy on the eyes changing the colors once and awhile.

Check out my website www.rhodeislandbookkeeping.com

Using a user and a password as a ProAdvisor

So, you are a QuickBooks ProAdvisor. You work at multiple sites and you need to be able to check to see who has been working in a data file. Problem is, the owner, the A/R person, all use the Admin name to log in. What is the best way to track your changes from others, since Admin is the best choice as you can do anything in the data file you want, without restrictions?

You should use the new feature for 2009 called "External Accountant" instead of Administrator. With External Accountant, you still can do almost anything in the data file. But now you can track who has made changes. It will protect you since you will be able to run that audit report to show where you have worked as opposed to the Admin person. You should also convince the business owner to use A/R role for the A/R person just to restrict the employee from getting into areas of the data file where they do not belong.

So, try out the External Accountant role as your log in. It is a nice change for 2009 which will help all QuickBook ProAdvisors.

Check out my website www.artesanibookkeeping.com

Clearing up unwanted entries in undeposited funds acct.

So, you go to a client's site and you find that they have reconciled their bank account but when you go to make deposits module, you find customer payments from months (even years) ago.

How can that happen? Oh, it happens, I have seen it. A bookkeeper will enter the customer payment to clear the open invoice and then go to make deposits window and enter the deposit again manually. So, in essence, they have cleared the customer balance, but the payment goes to undeposited funds and sits in limbo. When they enter the deposit directly, they are entering the deposit a second time. So, this is how you correct the problem:

1. Click on the Banking menu and choose Make Deposits.
2. Check the deposits that are erroneous and click OK.
3. In the next window, on the first blank line click in the “From Account” column.
4. Select the income account that was overstated by the duplicate deposit.
5. Enter in the amount field, the negative amount. This will make your net deposit zero.
6. Click Save & Close.

The next thing to do is teach the bookkeeper how Quickbooks works. Receive customer payment, make deposit (which will include the customer payment you just entered).

Check out my website www.rhodeislandbookkeeping.com

Amazon's rating of QuickBooks 2009

Recently, a ProAdvisor posted a comment on the LinkedIn website that Amazon.com has given QuickBooks 2009 2 stars (out of a possible 5) with it's buyers reviews.

I find this very surprising. One of the biggest complaints is over QuickBooks (Intuit, actually), customer service. It is about how when you call for help, you get someone from out of this country, most likely from India, who is there to push your buying a support plan.

I have called this support system for a client and found the same frustrating problem. It is sometimes hard to communicate to the support staff due to differences in the language. And you have to be very specific regarding what the issue is that you are having. Also, sometimes you are left on hold for a very long time. I think that this type of customer service is cost-effective for a business, but sometimes not so customer friendly. Intuit is certainly not the only company to use service from countries that charge much less per hour per employee than in the U.S.

But, Intuit has a very good support system in place with the Live Community. If you have an issue or problem, please check this out (or call a QuickBooks ProAdvisor directly, like me to help you).

Live Community is a forum where ProAdvisors get points for answering questions. The more points you get, the higher you get listed on their Allstar list. The community actually votes on "expert" answers and on "helpful" answers, for which you get more points. I have answered questions on these forums and the people who do answer them are very knowledgeable. I have learned how to fix or enter things in a different but better way than before.

So, check out the Live Community. It is a neat, free feature that is out there and available to all. Make sure you are really clear with your question and you will find that a ProAdvisor will be able to help you.

Check out my website www.rhodeislandbookkeeping.com

How do I set up my Line of Credit in QuickBooks?

Click photo to enlarge

Following are the steps on how to properly set up a line of credit in QuickBooks. Don't forget, a line of credit is used like a bank account but is actually a loan payable that you have to pay back:

• Set up a bank-type account for your checking account.
• Set up a current liability type account for the Line of Credit.
• Do not enter any opening balances when creating the accounts.
• Use the checking account for all deposits and checks/debits/bill payments as usual.
• When the bank draws from your Line of Credit, use the transfer funds screen to post the transaction.
• When you make a payment to the Line of Credit, write a check (put 'autopay' in the number field if the bank debits it).
• On the first line of the check account, enter the principle amount, off-setting the Line of Credit. On the next line, hit an expense type account called Interest Expense (you only need one expense account in your Chart of Accounts for any interest that you pay) for the interest portion of your payment.
• If there are any fees incurred for using the Line of Credit, use the Write Checks screen with the appropriate account, and enter "fee" in the number field and the amount which will show up on your bank statement.
• When you get your bank statement from the checking and the Line of Credit, you will reconcile them both using Banking, reconcile.

That is basically the easiest and best practices way to set up a Line of Credit in QuickBooks.

Check out my website www.artesanibookkeeping.com

I am now certified in Enterprise Solutions

While I have used this product for a few years, I have not had the time to take the classes in Enterprise Solutions and I have not had the time to work on the testing.

I am so glad I took the time. I have used it for two clients and now after the classes, I am much better trained. There are bells and whistles I did not know existed (which is why they have the training).

The product is very similar looking to QuickBooks Pro or Premier, but it does so much more. In this program you are allowed a much larger customer-vendor-other names list. But one of the best things about Enterprise is the versatility for multi-users. In multi-users you are allowed to assign "roles" which are much more tailored to each your businesses needs. Look for future posts on Enterprise Solutions.

So, I am proud to say that I am now certified in Enterprise Solutions product.

Check out my website www.rhodeislandbookkeeping.com

Ahhh! Where did my customer list go????

The other day, I was working in Enterprise Solutions program for a client. I opened up the customer>receive payments and typed in the name of the customer and it did not come up. The field stayed blank. So when I looked to see why, I found my entire customer list GONE! Wow! This had never happened to me before. So, I opened the customer center, again GONE. Completely blank. What happened? So, remembering what I know about these kind of issues, I ran a file rebuild. After 3 rebuilds, which took a very long time, I opened the Customer Center and voila, my customers were back. BUT, when I went to enter the payment, the customers were no longer linked to their invoices. (The invoices were all there, just the customer list was gone.)

So, I ran the rebuild one more time and it still did not link the past invoices with my customer list. While I am not sure why this happened (I researched and found it could be caused by an intermittent wirless connection), I went back to my trusty back up and restored my backup file from the last time I was in the program.

Which brings me to the most important tip of the day, BACKUP BACKUP BACKUP! I think I could be called an obsessive compulsive backer-upper, but I back up when I am done with a customer's file. Always and every time. So, when I restored my backup, I had all of my customers back and my invoice history was in place. I did not have to do any work over because I back up each time. And I was able to fix my data file.

This story had a happy ending because I backup. Make sure you back up your file each day.

Check out my website www.rhodeislandbookkeeping.com

Customizing your home page

The look of your Home page reflects how you use QuickBooks to run your business. The default view of the Home page you see when you start QuickBooks is based on your company file preferences, or how you answered the questions about your business in the EasyStep Interview. 

If you have made changes to how your company does business (i.e., you started using QuickBooks payroll), you may want to add or delete some of the things on your home page. Click Home to go to the Home page, Click the Edit menu and then click Preferences, Click Desktop View, On the Company Preferences tab, select or clear the checkboxes for the task icons you want to show or hide.

You can show or hide other icons on your Home page, but you must turn on or turn off the feature in QuickBooks to do so. At the bottom of the Company Preferences tab, there is a list of the QuickBooks features that you can enable or disable. Next to each feature name is an indicator of its current status (on or off). To turn a feature on or off, click the blue link and then make the appropriate changes.

Click OK.

The Home page now shows your workflow changes.

Lynda

Check out my website artesanibookkeeping.com

QuickBooks and PDF Files

Today's topic is timely because it just happened to me. I went to send an invoice by email to a client for services provided and my program just hung. The windows spiral just kept turning and turning and I could not get the program to move. It just said QuickBooks was busy. I had to cancel out and get back in.

I tried going onto Intuit's live community forum, but the fixes they had did not work for me at all. One had you going into Adobe and unchecking a box under properties, the other fix had me going into a file called .bat and doing something to it. Still, my program hung. Then, when I tried to save the invoice as a pdf, it would not do it. I also reconciled my bank statement and found that it tried to print to the QuickBooks PDF printer (it also made that my default printer). Very frustrating. I had to go to printers, uncheck the pdf one, cancel the document (it showed error) and reinstate the default printer.

So this weekend, I reinstalled my QuickBooks programs in for both Premier and Enterprise solutions. I did a repair to the program and now all is well at Rhode Island Bookkeeping. I printed my bank reconciliations with ease and sent out my invoices without any issue. The only other change is that when I open my data files, they state that they need updating. But that is okay, as long as the pdf works.

So, long story short, do a reinstall or fix to your program when all else fails.....

Lynda

Check out my website www.artesanibookkeeping.com

Sending yourself a copy of an invoice through email

One of the neat things about hiring a ProAdvisor is that you can learn many "tricks of the trade" and some of the work-arounds in QuickBooks. Things that can save you time.

One of the problems with emailing an invoice is how do you know if your client got the email? What did the email look like? Well, I am here to answer that question.

Once again, the solution lies in the preferences feature in the program. Go to edit, preferences, send forms, company preferences, where you will see "bcc", which stands for blind carbon copy (remember those days?, whoops, my age is showing!). That is where you put your email address. Now when you send out your client's emailed invoice, you will get an exact copy so that you can see what you sent to them. You can also edit the default language that goes with your invoicing there as well.

Try it out, it is a wonderful way to keep an email copy of what you sent out to the client.

Lynda

Check out my website www.artesanibookkeeping.com

Sales tax changes (Massachusetts)

Okay, I probably should have used a cute picture of the state of Massachusetts, but to me, Massachusetts means Fenway Park (aka I am a BIG RED SOX FAN).

So August 1, 2009, Massachusetts raised the sales tax rate from 5% to 6.25%. Yikes, how do I fix (or raise my rate) in my QuickBooks program?

Easy. Just go to list, item list, and find your item for Massachusetts sales tax. I had mine listed as Mass. Sales tax. Now make a new item for the Mass. Sales tax (with a new name) and put in the new rate of 6.25%. Do not edit your old sales tax item as this will change the calculations for the sales tax on prior items.

Make sure you use the new item on all future billing with the new rate. Be careful that any invoicing you have done as of August 1st is at the new rate for materials that are taxed. Please be advised that there are several other areas of the sales tax rate that have changed. Please go to Mass. Dept. of Revenue for all of the details on the changes that occured on Saturday. You don't want to make an error in collecting because the money will have to be paid, whether you collected the correct amount or not.

Lynda

Check out my website www.artesanibookkeeping.com

Release 8 for QuickBooks 2009

Intuit will soon be issuing Release 8 to address a variety of issues with QuickBooks Pro 2009, QuickBooks Premier 2009, and Enterprise Solutions 9.0. This is a significant update, and I encourage you to accept this update when it becomes available.

If you do not do so already, I recommend you ENABLE automatic updates.

To allow QuickBooks to update automatically, follow these steps:

1. From the QuickBooks Help menu, choose Update QuickBooks.
2. Click the Overview tab and click Update Now.
3. Select the desired downloads in the Update Now window.
4. Click Get Updates to download your selected updates.
5. When the Update Complete message appears, click Close.
6. From the File menu, choose Exit.
7. Start QuickBooks and click Yes to the message to install the update.

For more guidance, see the QuickBooks Product Update site.

If QuickBooks Is on a Network. Special instructions may help if you are using QuickBooks as installed on a network. Check with me if you are uncertain how to proceed.

Note: Don't worry if you have had updates turned off previously. QuickBooks updates are cumulative. You will only need to update with the most recent release.

Lynda

Check out my website www.artesanibookkeeping.com