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

Handling Security deposit returns if you are the Landlord

When you receive the payment for a security deposit, you enter it as a deposit to the security deposit liability account.  So what happens when the tenant moves out?  Perhaps they owed for utilities or maybe the tenant damaged the apartment.  You have do deduct some of the security deposit, but also return the balance.

This is how you do it.  You enter a check to the tenant.  Under account, use the security deposit account and enter that amount in full.  Then tab down to the next line and under the security deposit account, enter the utilities expense as a negative amount.  This will refund your expense account the from the funds that were in the security deposit account.  Tab down again and enter repairs and maintenance account and reimburse your expenses for repairing the unit for damages over normal wear and tear.

Here is a screenshot to show you how the check would look in QuickBooks:

I like to enter notes in the memo line for future reference.  Of course, I always send a cover letter with the check explaining the charges.  When there are repairs or damages to the unit, I also send pictures of the damages so there is no chance that the tenant can complain that they did not know of or cause these damages.  Pictures speak "one thousand" words.   These are also beneficial if you end up in court defending the charges to the security deposit.

(On a side note:  We always fill out a "condition of apartment" form when the new tenant initially  moves into the apartment.  We note any "damages" that occurred prior to the tenant's moving in.  We will also note when there is new carpet, etc.  This paperwork is extremely beneficial if you charge any damages to the security deposit.)

I hope everyone up north stays safe with Hurricane Irene coming up the coast.  We are very happy down here in Southwest Florida that a Hurricane has passed us by.  Hurricane's are not to be messed with.  Stay inside and stay safe.

Lynda 

Check out my website www.artesanibookkeeping.com

Reconciliation shows zero in QuickBooks

I entered my entire new bank account's transactions for the month and when I went to do the bank reconciliation, the beginning balance is zero.  It had a beginning balance when I entered the original journal entry to start my new company in QuickBooks.  What did I do wrong?

Nothing, actually.  You just have to reconcile the beginning balance entry to get started:

Enter the beginning balance of the new account as your ending balance

Clear the opening balance transaction (usually on the deposit side).

Once the initial deposit entry is reconciled, you are now all set to do the month's bank reconciliation.

   
That is really all there is to clearing that initial transaction for your new or newly entered checking account.

Lynda
Check out my website www.artesanibookkeeping.com

Move or renaming a company (data) file

So you set up your data file and you realize you spelled something wrong on the company name in the file.  How do you fix this?

You do it outside of the Quickbooks program and directly in windows.  Go to your company file folder.

Quick tip:  If you don't know where you store the company files, do a windows search for .qbw files--these are your company files.  Then remember the path to them.

Once you have found it, right click on the file.

And select rename and rename it.

Here I have made the name correction.

Here I try to go to file, open previous, but it is no longer there.

So I have to re-browse to it to open it.

Another place you may have to correct is within the file under company, company information.

And that is really all you have to do to rename a company file.

Lynda
Check out my website www.artesanibookkeeping.com

Help! My client entered bills and then wrote checks!

 As a ProAdvisor, how many times have you seen this?   It is a common error when someone enters checks and then enters bills.  They do not connect automatically.  Of course you could delete the bills and just leave the manual check entries.  But what if you want to keep the bills in place? 
 

Here is the fix:

First, here is what you see, bills and the checks that paid them.

So, you open these checks and change the account used from the expense to accounts payable.  You also need to put the vendor name in the customer:job spot because that is what will link it to accounts payable:

Then go back to vendors, pay bills and apply the newly created credit caused by changing the check above to accounts payable:

Once you click pay now, you will have cleared the bill with the manual check entry.  You will see a box like this:

That is how easy and seamless it is to connect the two transactions.  Have a great week!

Lynda 

Check out my website www.artesanibookkeeping.com

Bi-Annual Housekeeping to your Data File in QuickBooks

It is that time of the year.   And it is the slower time of the year.  Time to check your file to be sure it is in order.  These few minutes of time is well worth it.  It will stop you from having a problem "down the road".

Let's start with re-sorting lists.  This is a simple task to do.  First click on your home page and then the chart of accts.   Then click the view icon and re-sort list:

You will see this warning. Click okay.

Do this for all lists:  vendor, customer, item and employee.

Next, click F2.  This box will show up:

Check the db fragments.  Less than 10, you are okay.   More than 10, make a portable file and restore it as your working company file.  Making  a portable file will re-index your file.  Re-indexing is similar to when you run a disc cleanup on your computer to keep the files in a neat, efficient order.

These are steps to keep your file in order.   If you do the portable file/restore and you still have more than 10 db (data base) fragments, time to call an expert to help you.

Lynda 

Check out my website www.artesanibookkeeping.com

Entering a Sales Tax Increase in QuickBooks

Your sales tax increased as of 7/1/2011.  How do you enter this change into QuickBooks?

The easiest way is to go to List, Item List, find the sales tax item and edit it to make the change.  This will not affect the invoices that are already created, just the new ones going forward:

Below is a picture of your final sales tax liability at the old rate for the prior quarter.

In my opinion, the best way to record this change is for you to create a new sales tax item for the increased tax.  This will make more data entry for you, but in the long run, it will give you better record keeping. Once you have created the new sales tax item,  edit the old one with an end date. (thanks Rustler for this tip!)

Go to list, item list, highlight the sales tax item and right-click, edit it.

Here I re-name the old sales tax item with the last date of this particular tax rate, then make it inactive.

After I have created the new .4% tax rate, I make sure I go to edit, preferences, sales tax and make it my default sales tax item.

 

It is definitely more work doing it this way.   What I have done in the past is I would just change the customer preference with each new invoice that I enter.  When I select a customer that has the old, inactive rate, QuickBooks will warn me that this customer has an inactive sales tax rate, which will remind me to change and update the customer to the new on on the invoice.  QuickBooks will then ask me if I want to save this new rate for my customer and I say "yes".

It is especially important to create the new sales tax item if the rate changed for you mid quarter.  You will need the reporting on your sales tax liability report to show both rates so that you can properly prepare the sales tax return.

Lynda

Check out my website  www.artesanibookkeeping.com

Warning: QuickBooks cannot open this file because it exists as a Read-Only file. Please make the file Read-Writable and then try opening it again

You are trying to open a company file, the following message appears:

Warning: QuickBooks cannot open this file because it exists as a Read-Only file. Please make the file Read-Writable and then try opening it again.

 Just what does this mean?

It means the properties on your data file are set to read only.  I had this happen many times when we had a Windows Vista computer and we moved files from one computer to the other.  Not sure to the technological reason for it.  It just happened.

So, how do you fix this?

Go directly to your data file outside of QuickBooks

Right click on the file and uncheck the "Read only" box.

Then click apply and okay.  Then go back to QuickBooks and reopen.

That is all you have to do to fix a file that has read only.

Lynda
Check out my website www.artesanibookkeeping.com

Converting Windows file to a Mac file

So, you have purchased your first Mac computer.  Congratulations!  There is a learning curve to it (at least there was for me), but you will learn your Mac and learn to love it.  

Now, if you decided to use QuickBooks Mac program, I am afraid you will be disappointed in it.  It is not as user-friendly as the PC version.  Especially since it does not have the features of the Windows QuickBooks.  But it does work seamlessly on the Mac.  

So how do you move your company file from your old windows version to the Mac version?  Here are the steps:

1.  Open QuickBooks in your old Windows computer and go to file, utilities, copy company file for QuickBooks Mac.  Click to save it to a usb stick.

2.  Next open the Mac and download the new QuickBooks for Mac program.  Open the Mac and select to open a sample company (I used good old Larry's Landscaping):

3.  Now in the Sample file, go to file, restore and restore the backup on your usb.  Select a location that you want that file to be saved in (like Documents):

4.  You will see this screen next: (and if you are wondering, that is my cat, Meep, stalking a gecko on my desktop pic)

5.  Click Continue and select a location for your company file:

6.  You will be required to enter your Admin password again:

7.  Once entered, your QuickBooks company file will be transformed to a Mac Company file:

 

Congratulations!  You now can work in the Mac program on your new Mac computer.

Lynda
Check out my website www.artesanibookkeeping.com