QuickBooks Training Post:

Step 1 – Go to to the Manage Users Menu

From the home screen, click on the Gear Menu and beneath the column heading labeled “Your Company” select the Manage Users tab.

Step 2, create an invite

On the Manage Users page, click Invite Accountant to open a new invitation.

Enter Your Accountant’s contact info

Enter your accountant’s name and email address into the text boxes and click Next when you’ve finished.

Step 4, Complete your Invitation

Click Finish and you’re done. Your accountant will get an email with a link to your QuickBooks. From there, it’s up to your accountant to log in and start working on your books.

The post Invite your Accountant, Bookkeeper, or Tax Preparer to work on your QuickBooks Online appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

To reconcile your bank or credit card account, follow these steps:

Step 1, Go to the Reconcile Menu

From the home screen, click on the Gear Menu and beneath the column heading “Tools,” select the Reconcile tab.

Step 2, Choose the Account you want to reconcile

On the Reconcile overlay, choose the account you want to reconcile from the drop-down menu options.

Once you’ve selected your account, click Reconcile Now.

Step 3, Enter Information from bank Statement

Now take a look at a copy of the bank statement for the account you’re reconciling with QuickBooks. Take note of the Statement End Date and the Ending Balance amount.

Back in QuickBooks, you’ll see the Reconcile overlay. Enter your Statement End Date into the calendar drop-down menu.

Next, enter your statement’s Ending Balance on the Reconcile overlay and click OK when you’re done.

Step 4, Mark Matching Expenses and Deposits

Now the real work begins. Take another look at the transaction history on your bank statement.

In the Reconcile window, match each transaction from your bank statement with an item in the list, checking the box to the right of each transaction to match.

Important safety tip: only click on the little checkbox. If you click any place else, other windows will open and it can be hard to find your way back to the Reconcile window.

Step 5, Finish Reconciliation

When you’ve gotten the Difference value at the bottom to zero, click Finish Now.

Last Step 6, Review the Reconciliation Report

Now, back in the main Reconcile menu, you’ll see the reconciliation you just entered. Click on it to open a detail window for review.

Click Run Report to open a detailed report of your reconciliation.

You can Print your reconciliation report here in the report window. Print a copy and attach it to your bank statement. Bear in mind you can print additional copies if you want to give one to your accountant, or if you want to save a copy for your records to have at tax time.

And that’s it. You’re done!

The post Reconcile your bank accounts in QuickBooks Online appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

QuickBooks Online (QBO) is all about collaboration. The Plus and Essentials subscriptions both include multi-user capability. All subscription levels allow for the addition of two accountant users without extra cost.

QBO allows extra users with report viewing and/or time entry capabilities as well.

Another way QBO eases some of the pain points of collaboration is the automatic sending of reports. Let’s see how this works.

The automatic sending of reports functions with custom reports. In the sample QBO file, we will run an Inventory Valuation Summary report and memorize it.

We didn’t need to really customize anything about the report. We just opened it and clicked the Save Customizations button. We give the report a name, or accept the one offered by QBO.

For this exercise, let’s make the report part of a group. You can create a new group right from here. Just type the name you want in the appropriate field.

Select OK and we have one custom report in our new report group.

Let’s create a Sales by Product/Service Summary report. We’ll save it in the same group. On both of these reports we used the date range “Today”.

We can access these reports and the group in the My Custom Reports section of the reports menu.

Notice there is an email column in the report listing. Right now it reads Unscheduled. Click on the Edit link for the report group. Not one of the individual reports, but the line that reads Hector’s Group.

When you do, the following window opens.

Selecting the checkbox that reads, “Set the email schedule for this group” opens several options.

Note that we have selected a schedule of everyday for sending these reports. We accomplished that by clicking on the Edit schedule button.

We type in the email address where we want the reports sent, create a subject line, select additional recipients if we want.

Now we no longer have to send an email to our accountant. Automatically, every day, he’ll get a sales and inventory update on how our business is doing.

Nice feature.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post Sharing Information appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

These are the areas available in QuickBooks Enterprise to customize user permissions when creating a customized role.

Accounting

• Accounting Tools
• Asset Registers
• Edit Closed Transactions
• Equity Registers
• General Journal
• Liability Registers
• Manage Fixed Assets
• Working Trial Balance

Banking

• Bank Feeds
• Bank Registers
  • BANK 1
  • BANK 2
  • BANK 3
• Checks
• Credit Card Charges
• Credit Card Registers
• Deposits
• Loan Manager
• Reconcile
• Transfer Funds

Centers

• Customer Center
• Employee Center
• Vendor Center

Company

• Bill Tracker
• Billing Solutions Sign Up
• Calendar
• Company Information
• Company Preferences
• Enter Vehicle Mileage
• Find All Transactions
• Income Tracker
• Insights On Homepage
• Planning & Budgeting
  • Business Planning & Analysis
  • Set Up Budgets and Forecast
• Print Labels
• Remote Access
• Set Closing Date & Password
• Set Up Bank Feeds
• Synchronize Contacts

Customers & Receivables

• Accounts Receivable Accounts
• Assess Finance Charges
• Billable Time and Costs
• Change Item Prices
• Credit Card Refunds
• Credit Memos
• Estimates
• Invoices
• Override Credit Limit
• Receive Payments
• Sales Orders
• Sales Receipts
• Statement Charges
• Statements
• Undeposited Funds Account
• Use Credit Card Numbers
• View Credit Card Numbers

Employees & Payroll

• Paychecks
• Payroll Adjustments
• Payroll Liabilities
• Payroll Service Activities
• Payroll Tax Forms

File

• Backup
• Clean Up Company Data
• Export
• Import
• QuickBooks Advanced Reporting
• Rebuild
• Shipping
• Verify

Lists

• Chart of Accounts
• Class List
• Currency List
• Customer & Vendor Profile Lists
  • Customer Message List
  • Customer Type List
  • Job Type List
  • Payment Method List
  • Sales Rep List
  • Ship Via List
  • Terms List
  • Vehicle List
  • Vendor Type List
• Fixed Asset Item List
• Inventory Site List
• Item List
• Other Names List
• Payroll Item List
• Price Level/Billing Rate Level List
• Price Rule List
• Sales Tax Code List
• Templates List

Reports

• Accountant & Taxes
  • Accountant & Taxes Detail
  • Accountant & Taxes Summary
• Banking
• Budgets & Forecasts
• Company & Financial
  • Company & Financial Detail
  • Company & Financial Summary
• Custom Transaction
  • Custom Transaction Detail
  • Custom Transaction Detail Limited
  • Custom Transaction Summary
• Customers & Receivables
• Employees & Payroll
• Find Report
• Inventory
• Jobs
  • Jobs Detail
  • Jobs Summary
• Memorized Report List
• Mileage
• Purchases
• Sales
• Time
• Vendors & Payables

Time Tracking

• Single Time Activity
• Timer Export
• Timer Import
• Weekly Timesheet

Vendors & Payables

• Accounts Payable Accounts
• Adjust Quantity on Hand
• Build Assemblies
• Enter Bills
• Item Receipts
• Pay Bills
• Pay Sales Tax
• Print 1099s/1096
• Purchase Orders
• Sales Tax Adjustment
• Transfer Inventory

The access level options you will have in some of these areas are:

• None: No access to the area or activity.
• Full: Permission for complete access (view, create, modify, delete, and print) to the area or activity.
• View: Permission to view all data related to the selected item.
• Create: Permission to create new activities, entries, or transactions.
• Modify: Permission to modify existing activities, entries, or transactions.
• Delete: Permission to delete existing activities, entries, or transactions.
• Print: Permission to print, email, fax, and “save as PDF.”
• View Balance: Permission to view all balances in the Chart of Accounts, Customer Center, and Vendor Center.
• View Payroll Info: Permission to view payroll information listed in the employee record under the Payroll Info tab.

Check out our other article on User/Role Permissions on QuickBooks Enterprise

If you have questions about purchasing QuickBooks Enterprise or obtaining private consulting with QuickBooks Enterprise, contact Hector Garcia or Mario Guadamuz at 1-800-819-6307

The post QuickBooks Enterprise – Custom User Permissions appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

We are still studying QuickBooks Online (QBO) in our blog posts. So, while whether or not to use Accounts Payable is an accounting topic, we’ll be using QBO to demonstrate our options.

Accounts Payable (in QuickBooks, desktop or online), means using the enter bills/ pay bills functions in the software. So it’s a two step process. We have to create a transaction (a bill) for the expense. Later we have to create a transaction (a bill payment check) to pay for the expense.

On the other hand, creating a check transaction in QBO is only one step. Create the check either on a check form or in the register.

So what’s the difference? Why go to the extra work?

In our sample QBO file, let’s create a job for Craig’s Design and Landscaping Services. In this job, he’ll use a couple of subcontractors and incur a number of expenses. He will invoice the customer at the end of the job.

He has thirty day terms with his subs and suppliers. He’ll write a check for them when the bill comes due. A pretty normal scenario.

Craig completes the job in January. He invoices his customer on the last day of the month.

So, as he does at the end of each month, Craig reviews a profit and loss report for his business for the previous month.

Wow! Over a nine thousand dollar profit. That’s pretty exciting, but what caused it? How can he duplicate this in the future?

Craig has a wise accountant. He reviews his business operations with his accountant often. The question the accountant has is, how did you do that big job with only $600 in job expenses?

Craig knows he didn’t. But, he tells the accountant; those checks won’t be created until February. Well then, how does February look now?

We’re only a few days into February so these numbers will change. But, the accountant points out that Craig is starting off with a $4000 loss. It will be difficult to overcome that.

Why the loss? The revenues from the big job are posted in January. The costs in February.

That’s a mismatch Craig needs to fix.

By creating Bills for the expenses, Craig can still pay them in February. But, the expenses can record in January, matched to the revenue of the job.

Let’s see how the profit and loss looks after the job expenses are created as bills and dated in January.

Revenue remains the same at about $14,500. But expenses are up. This is because we see a much more reasonable number for job expenses.

Most important, these numbers are much more real than what Craig saw before. By using accounts payable, he was able to post both the expense and the revenue for the job in the same month. This gives him a truer picture of whether his business makes money or not.

More on the details of using accounts payable in future posts. This article shows you the big picture. Why it is sometimes an important feature to use.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post Why Use Accounts Payable appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

Last week we looked at a broad overview of accounts payable. Accounts Payable in QuickBooks Online (QBO) is basically creating bills to record expenses rather than checks. Creating bills gives us the flexibility of posting the expense to the correct time period, but still pay the amount to a supplier at any time.

In that overview, we used the sample file Craig’s Design and Landscaping Services. Craig completed a big job in January for which he created an invoice. But, since he had thirty day terms with his suppliers, he didn’t have to create a check to them until February.

Instead of seeing the revenue and expenses for the job in the same month, they appeared in different months, drastically distorting his profit and loss statement.

Today, let’s take a look at how Craig fixed that.

We will review a few things about a bill transaction in QBO.

First, note the date circled in the top portion of the screenshot above. Since the work was done in January, a January date has been used on the bill, even though it won’t be paid until later, in the month of February.

It’s important to remember that the bill records the expense in QBO. The accounting entry is creating the expense and creating a liability, the amount that is owed to the vendor. That part of the accounting equation is the Accounts Payable account.

Also, there are two sections on the bill where expenses are detailed. The top section, Account Details, allows the use of an account from the chart of accounts to be selected for the expense.

The second section, Item Details, should be used if you are using items to record your expense. As an example, if the bill were purchasing inventory, you would always use the Item Details section. On a bill, you can use one either section, or both.

We will save this bill. Now, the expense shows on our profit and loss report for January.

The bill we created for $2300 is part of the Job Expenses total showing on the profit and loss at $4552.

The bill also affects the balance sheet.

The other part of the accounting entry the bill makes is the amount owing to the vendor. That’s a liability. The $2300 bill is part of the $5552.67 balance in Accounts Payable on the balance sheet.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post Create Bills in QuickBooks Online appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

We started talking about some of the advantages of accounts payable for certain QuickBooks Online (QBO) companies and we want to finish up strong on that topic.

Using the sample QBO file, Craig’s Design and Landscaping Services, we created a scenario where Craig completed an $8500 dollar job in the month of January. The suppliers used on the job extend thirty day terms to Craig. He paid them in February.

This created the situation where the revenue for the job showed in one month, the expenses in another. A mismatch that really distorted his profit and loss for the months affected.

Craig fixed that, with the advice of his accountant, by creating bills in QBO, and dating them in the month the work was done, even though he wouldn’t pay them until a future date arrived.

That day has arrived. It’s time for Craig to pay his suppliers.

One of those suppliers was the vendor, Tim Philip Masonry. Tim’s labor on the job cost Craig $2300. You can see that in the first bill listed in the transaction list for Tim Philip.

Note that the link in the Action column displays the command, Make payment. We’ll click that.

Above is the window that opens, allowing you to pay the bill. Note the arrow in the top part of the window. You can select the account from which to pay. You may have more than one bank account. You can even choose to pay by credit card as those accounts are listed in the dropdown associated with this field as well.

QBO assumes you want to pay the entire amount of the bill, in this case, $2300. You could change this number though and make a partial payment.

The last circled area highlights the command to print an actual check for payment.

An important thing to remember, as discussed in the previous post, this action will not create an expense. The expense was created when the bill was first entered and saved. This transaction, the payment of the bill, merely pays a debt owed to the vendor. It will not have an effect on the profit and loss report.

What this transaction does is lower the bank balance and lower the Accounts Payable balance. You will have less cash. You will owe less money to vendors.

The balance in accounts payable before this bill was paid was 5552.67. Once the bill payment is saved, that balance will go down by $2300.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post QBO Using and Paying Bills appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

Do you wish you had a little (or a lot) more to show on your bottom line? Would you like to gain access (at no charge) to mentors’ secrets that lead to increased business profits, fun, and success? Do you…

The post Get Access to Michelle and Sandi’s Secrets to More Profits and Success in Your Accounting Business appeared first on Long for Success, LLC.

Source: Michelle’s LFS Feed

QuickBooks Training Post:

QuickBooks Online (QBO) makes the entering and matching of bank transactions an automatic process. Each night, the bank transactions download. Periodically, preferably each day, the QBO user reviews those downloads and processes them.

There are a number of different types of transactions in QBO that can relate to bank activity. Thus, questions arise as to how QBO will handle some of the transactions downloaded and how manually entered QBO transactions may be impacted.

If a customer payment is processed by the bank, but has not been entered manually into QBO, what does QBO do with it?

Let’s look at a particular case in the sample file, Craig’s Design and Landscaping Services.

Craig has a customer, Dylan Sollfrank. An invoice was created for this customer on January 15^th for $337.50. Now, a payment has been electronically processed by the bank, and has been sent to QBO by the bank feeds feature.

No payment transaction has been created in QBO. The payment was processed by the bank before Craig’s bookkeeper was even notified it was coming.

With no payment in the QBO system, what does QBO match to?

If you can read the QBO notes in the circled column, you will see QBO has found the open invoice. Its proposal, which the QBO user can override, is to create this downloaded bank deposit transaction as a payment on this invoice.

That’s great. It’s just what we want.

So, let’s accept that “Match”, and see the final result.

Above is a screenshot of the customer window for Dylan Sollfrank. Note both transactions show. The invoice created manually and the payment downloaded from the bank.

The Status column shows that the transactions are applied. That is, the payment didn’t just download as a generic accounts receivable payment waiting for a ‘human’ to edit and apply the payment to the correct invoice.

We will also find the amount has been deposited into the check register, increasing our bank balance by this amount.

All without any manual entry.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post Customer Payments in Auto Bank Feeds appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

You may not be aware, but it is possible to create packing lists in QuickBooks Online (QBO). This ability is similar to the QuickBooks desktop solution in some ways, dissimilar in others.

What’s similar to desktop is that the packing list is basically a different template to display selected information from the invoice or sales receipt.

It is dissimilar in that there are not the same customizing opportunities in QBO as desktop.

Once an invoice or a sales receipt is created, you can access the packing list by clicking on the Print or Preview button.

Clicking on that button brings up the print options. One of those is to print a packing list. Making that selection will allow you to either print or preview the document.

As you can see in the above screenshot, the packing list will show select information from the invoice or sales receipt. Mainly, the price and amount information is blocked out of this template.

The packing lists for sales receipts capability is fairly new. There is a chance you don’t see that yet in your QBO file if you go looking for it. If not, wait a little while. This has been rolling out and will be updated in your subscription soon as well.

One thing that would improve this function is the ability to customize the form. That capability exists in QuickBooks desktop. An invoice or other type of template can be created with all the financial information selected not to print.

In our experiments, it wasn’t possible to create a template in QBO that would mask all references to prices, amounts, subtotals, totals, etc.

Hopefully, in time we will gain this added capability.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post Printing a Packing List appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

This is the complete 7-video playlist that covers:

• Deep dive into QuickBooks Online Bank Feeds (Downloaded Transactions)
• Importing Vendors to speed up the classification process
• Add Attachments into Bank Feeds
• Mastering Bank Rules
• Converting PDF Bank Statements or CSV/EXCEL based statements so they may be imported into QuickBooks
• Improved Check Register
• Moving to Value Pricing for bookkeepers and accountants that provide services with QuickBooks Online.

If you think you need a private consultation, call me 954-414-1524 and we can schedule a 1 hour remote session to walk you through the process for $275.  Guarantee to shave hours of your work!

The post Master QuickBooks Online Bank Feeds appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

If you need help building your own custom report using QuickBooks Advanced Reporting (QBAR) in QuickBooks Enterprise, we may be able to help you.

This is the process we follow:

• Intuit’s office Resources Page for QBAR: http://qbar.intuit.com
• Hector’s video with Intuit’s PM on QBAR on building reports (Examples: Sales by Item, Sales by City or Country, and Sales by Preferred Vendor) https://www.youtube.com/watch?v=Ra3s7rclXW8
• QB Power Hour recorded episode comparing QuickBooks Advanced Reporting with standard QuickBooks reports: https://www.youtube.com/watch?v=VIwgQnVnDq8
• Article by Linda Saltz: http://www.qbalance.com/QuickBooks-Enterprise-Advanced-Reporting.htm
• Article by Donovan Sachs: http://www.intuitiveaccountant.com/training-center/2015-quickbooks-feature-review–/#.VvGhOFMrLdc
• Hector’s article on Intuit Accountant Blog: https://blog.accountants.intuit.com/ways-to-be-more-productive/building-custom-reports-with-quickbooks-enterprise-advanced-reporting/
• Webinar recording by Marjorie Adams: http://www.fourlane.com/quickbooks-enterprise-reporting-features/

The post QuickBooks Advanced Reports – Customization Service appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

This report was  built using QuickBooks Advanced Reporting (QBAR) module included with QuickBooks Enterprise 15 and up.  Contains Sales, COGS, and Profit by Totaled by Sales Rep.

Download Template Here

QuickBooks Enterprise Advanced Report Customization Service

The post QuickBooks Enterprise Advanced Report: Sales/Profit by Rep (with Paid Filter) appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

This report was  built using QuickBooks Advanced Reporting (QBAR) module included with QuickBooks Enterprise 15 and up.  Contains Items with Value on Hand, Qty on Hand, Total Sold, and Last invoice date plus a Preferred Vendor filter

Download Template Here

QuickBooks Enterprise Advanced Report Customization Service

The post QuickBooks Enterprise Advanced Report: Inventory Item Status appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

The attachment feature is not new to QuickBooks Online (QBO), but it keeps getting easier to use. There really is little excuse for losing receipts anymore. Even the small ones. Take a picture with your phone and upload to a Dropbox account. Then, attach to the transaction in QBO in the next bookkeeping session.

So, how has it become easier?

Wherever you are recording transactions in QBO, there seems to be a way to attach a receipt, or some other document if needed.

Matching and entering transactions from the Bank Feeds feature is a frequent task. You can add your attachment there.

Click on a Bank Feeds transaction then on the Attachment link. In the screenshot above, a Dropbox folder was chosen and the new receipt image there selected as the attachment. It takes a second or two for the image to upload. Make sure the other information is correct and either Add or Match the transaction.

If you use forms, like the check form, to enter transactions in QBO, adding attachments is even easier. Just drag the image to the appropriate area on the form.

This works for most transaction forms including credit cards.

Perhaps you use the register in your entry of accounting transactions. Attachments are simple to add there as well.

First, be sure your register is setup to include a column for attachments. You do this by clicking on the gear icon in the upper right area of the register. Make sure Attachments is selected as one of the columns.

Once that selection is made, click on the Add Attachments link when entering your transaction.

There is also an Attachments page. You access that by navigating to Gear->Attachments.

This is the place you want to go if you have several attachments. You can drag them all here, then attach them to individual transactions later.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post File Your Receipts With QBO appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

This report was  built using QuickBooks Advanced Reporting (QBAR) module included with QuickBooks Enterprise 15 and up.  Contains Items QTY and Amount totaled by Category (Custom Field must be edited in your own report)

Download Template Here

QuickBooks Enterprise Advanced Report Customization Service

The post QuickBooks Enterprise Advanced Report: Sales by Item and Category appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

Few things get more tedious than data entry that is repetitive. New things can be a little more interesting. But, entering the same bill or the same invoice over and over really gets old.

Since we’re focused on QuickBooks Online (QBO), let’s look at a way to alleviate some of that drudgery so the time saved can be better spent.

We’ll use the QBO sample company, Craig’s Design and Landscape Services. Besides landscaping and design, Craig’s business also has contracts for maintenance work. Invoices for this work need to be created and sent out each month.

Here’s one of those invoices.

Amy’s Bird Sanctuary has contracted with Craig’s for maintenance of their facility’s landscape at $250 per month. You can see the arrow in the screenshot indicating we can make this a recurring transaction.

Click on the link. A window opens offering a number of parameters that can be set. Let’s look at the screenshot below.

By default, QBO names the template, or the recurring transaction, with the customer’s name. Following the fields across the top, we decide to have QBO create this invoice five days in advance. We’ll choose ‘in advance of what?’ in a moment.

In the second row of fields, we specify the customer. Actually, QBO has already picked up this information from the invoice we are designating as recurring. You probably won’t need to specify anything here. We have a couple of options on the right. We have selected the option for QBO to automatically email the invoice each time the appropriate date arrives. That’s nice.

“Include unbilled charges” is an interesting option. If you incur charges on behalf of customers and mark them as such each time you enter into QBO, an invoice can be automatically created for all those charges at the interval you choose. Not for everyone, but could be a big time saver for some.

In the final row, we tell QBO what the appropriate time is that this invoice should be created. From the graphic, you can see that QBO will create this invoice each month, starting with March.

There is no end date. QBO will continue indefinitely until we tell it to stop. If you only wanted to create, say, twelve invoices over the course of one year, you could specify that here.

Recurring transactions can be changed at any time. On your lists menu, you will find that Recurring Transactions is one of your lists.

 There is the recurring invoice we just created. Click the Edit link to change something about the recurrence parameters of the transaction.

From the drop down arrow next to the Edit link, you can also create an instance of the transaction or delete it.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post A Time Saving Idea for QBO Users appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog

QuickBooks Training Post:

Many of us like to combine multiple tasks into one job. Like printing.

If you are familiar with QuickBooks desktop, you know it’s easy to print in batches. With the form on the screen, invoice, check, or other, just use the Print Later selection. When you save the transaction, it is placed in a queue to be printed later with any other like transactions you have similarly saved.

It’s easy to accomplish this in QuickBooks Online (QBO) as well, you just may not be aware of the screen options.

With an invoice, it’s pretty straightforward. When you click on the Print or Preview button, one of the options on the popup menu is to Print later. This option is the same on Sales Receipts.

When it’s time to print, you can print all the invoices and sales receipts in one batch.

On the left-hand blue panel, choose Transactions, then Sales. The list of sales transactions can be filtered by various criteria. One of those is if they are marked to be printed later.

Click on the Filter button and you will see the options as they are displayed in the screenshot above. Hit the dropdown arrow under Delivery Method. Select Print Later from the list. Click on Apply.

Now your list of sales transactions is filtered to only include those that are waiting to be printed. Select the checkbox in the column header at the left edge of the register of transactions. This will mark all the items in the list, which is (since it has been filtered) the list of all sales transactions waiting to print.

The last step is to choose Print Transactions from the Batch Actions button.

A recent improvement to this is that it is now available on recurring invoices as well. So, if you create a recurring invoice marked Print Later, QBO will create it at the appropriate time with that designation. The next time you print a batch of invoices, it will be on that list.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

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Source: Hector\’s QuickBooks Blog

Just a quick reminder that today, April 1, 2016 is the final day to register at the early bird rate. You can find out more and register here: http://accountingvcon.com/register/ If you’ve never been to an accounting conference, the 2016 Ultimate…

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QuickBooks Training Post:

A number of improvements have been introduced to QuickBooks Online (QBO) recently. Mainly, these changes affect how you can work with inventory quantities.

You can adjust starting values for inventory items. The As Of Date, initial quantity and cost can be modified after the beginning setup of QBO inventory quantities and values.

More recently, QBO added a much improved method for adjusting inventory on hand.

Here’s the reason this is such a big deal. Anyone who deals with inventory knows that it is very common for inventory quantities to need adjusting. Things happen. Something gets lost, broken, stolen. It’s why we do periodic inventory counts. Now, there’s an improved way to record those changes into QBO.

You can see from the above screenshot that this can be accessed from the “+” menu. It can also be accessed from the action menu when viewing the product and service list, or from a product/service edit window.

Selecting this option opens the following transaction screen:

Opening this transaction window from the “+” menu will give you a form with no items listed. In the screenshot above, we have selected three inventory type items at random.

The fact that we can enter adjustments for multiple items at once is a very significant improvement. When adjusting inventory to a physical count, you are often entering values for multiple items. Having to make the adjustment through the edit window of each one individually was not an efficient process at all.

Note also the “Inventory adjustment account” field in the upper portion of the window. Those familiar with the desktop versions of QuickBooks can see the similarities of this adjustment transaction with desktop.

QBO selected the account Inventory Shrinkage by default. You can change that. As you fill in the items to be adjusted in the body of the window, the current quantities populate the Qty On Hand column. Enter your actual values in the New Qty column.

It would be nice if the form showed the value change in total for the adjustment as new quantities were added. When entry is complete though, Save the transaction, click on the More button at the bottom of the form, select Transaction journal.

You will get a report showing the amounts that have been adjusted in dollars.

You will see the expense that results from this transaction on your profit and loss report.

Much like desktop QuickBooks, this adjustment is a separate transaction. It can be brought back to the screen by clicking on it from this report, as well as a number of other methods, just like any transaction. It can be edited and re-saved, changing the values of the transaction and any resulting reports.

A very good improvement.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
7791 NW 46th St. Suite 109
Doral, FL 33166
954-414-1524
hector@garciacpa.com

The post The New QBO Inventory Adjustment Feature appeared first on QuickBooks Training & QuickBooks Consulting. Best rated in Miami & Broward.

Source: Hector\’s QuickBooks Blog