Question:
I just bought a new computer and used my Quickbooks Premier Retail Edition disk to add Quickbooks to it. However, I have no idea how to get my data from my old computer to my new one. I would like to use a flash card (I think that's what it called). Help!
Janet
Answer:
You simply need to make a backup on the old computer (File - Backup). Select the flash drive. QuickBooks should tell you that the backup was completed successfully. Then do a restore on the new computer (File - Restore).
Tuesday, August 02, 2005
Help Needed!
Question:
Hi,
Has anyone had a problem with Quickbooks Pro running after installing XoftSpy (anti - spyware software). I get the error message described below. The answer I get from XoftSpy is : "We do not interfere with QuickBooks. QuickBooks has its own autoupdate feature to keep itself up to date. I would go into QuickBooks and check the Check for Updates. It brings up a window which will show what it is trying to update."
I turned updates off and still have a problem.
Thanks,
John
Answer:
I have not seen this hopefully someone else has.
Hi,
Has anyone had a problem with Quickbooks Pro running after installing XoftSpy (anti - spyware software). I get the error message described below. The answer I get from XoftSpy is : "We do not interfere with QuickBooks. QuickBooks has its own autoupdate feature to keep itself up to date. I would go into QuickBooks and check the Check for Updates. It brings up a window which will show what it is trying to update."
I turned updates off and still have a problem.
Thanks,
John
Answer:
I have not seen this hopefully someone else has.
Emailed Invoices.
Question:
If you send an invoice via email through Quickbooks, is there anyway to go back and view/print the message you sent to the customer?
Answer:
I am not aware of any way to veiw them once they are sent unless you can get them through your sent email folder. In the future, you might CC yourself into the emails so that you will have a copy.
If you send an invoice via email through Quickbooks, is there anyway to go back and view/print the message you sent to the customer?
Answer:
I am not aware of any way to veiw them once they are sent unless you can get them through your sent email folder. In the future, you might CC yourself into the emails so that you will have a copy.
Refund After Taxes Were Prepared.
Question:
How do I adjust an amount for a prior year? For example: I bought a fax machine in 2003 and then I returned it. However; in 2004 I got a refund for the machine but I didn’t adjust the office supplies account in 2003 and the taxes have been filed. I would appreciate a tip on how to handle this kind of transaction.
Answer:
The following answer assumes that you are on an accrual basis. Technically, the IRS would say you should file an amended return. Assuming that we are talking about a $100 fax machine, and not a $50,000 truck then I would say that you could handle it in the current year without drawing the ire of the IRS. If the fax machine was put in office supplies expense as you say, then the answer is easy. You should record the refund as a credit in the office supplies expense account.
If the fax machine was capitalized by your accountant when preparing the tax return, then it would be more difficult. If this is the case you should probably check with him/her.
How do I adjust an amount for a prior year? For example: I bought a fax machine in 2003 and then I returned it. However; in 2004 I got a refund for the machine but I didn’t adjust the office supplies account in 2003 and the taxes have been filed. I would appreciate a tip on how to handle this kind of transaction.
Answer:
The following answer assumes that you are on an accrual basis. Technically, the IRS would say you should file an amended return. Assuming that we are talking about a $100 fax machine, and not a $50,000 truck then I would say that you could handle it in the current year without drawing the ire of the IRS. If the fax machine was put in office supplies expense as you say, then the answer is easy. You should record the refund as a credit in the office supplies expense account.
If the fax machine was capitalized by your accountant when preparing the tax return, then it would be more difficult. If this is the case you should probably check with him/her.
Lost Password.
Question:
A client of mine is locked out of QuickBooks and no one knows the password used when originally set up. Any way to access database to change password?
Answer:
Check out this post.
A client of mine is locked out of QuickBooks and no one knows the password used when originally set up. Any way to access database to change password?
Answer:
Check out this post.
Is QuickBooks Right for a Wholesale Distributor?
Question:
I am looking for the best software solution for my company. My (new) accountant likes QuickBooks. My old accountant (now ex) had our company's accounting totally "un-integrated". Accounts receivables in Maccola which I despise since most reports must be generated thru Crystal (ugh!). Accounts Payable, Payroll and G/L are run in QuickBooks but for some reason I can't understand it's not integrated. G/L entries are posted manually.
Our business is small: 20 employees, wholesale distribution; 6 stations; 1200 invoices a month; 900 inventory sku's; 800 customers; 10 salespeople; we need strong sales analysis reports, of sales per item and per customer; sku's purchased per customer; to send monthly to our manufacturers.
We also have a store for which I need a POS system integrated to our customer database.
So you think QuickBooks is the right software for us??? Thanks for any advice you can give us. The best way to contact me is thru email.
Answer:
I agree with your new accountant, your current accounting software is unacceptable for a company of your size. I played with one of the QuickBooks sample files for a while and I believe that you can get all the reports that you mentioned. I would suggest that you have your accountant set you file up, because to get all the information out that you want, the setup is going to be critical. Also if you or one of your employees plans on doing the entry, then you need to make sure that they are trained in the finer points of QuickBooks.
I personally have never had a client that used the QuickBooks Point of Sale Edition, but I have heard that it works relatively well.
Since you do both retail and wholesale distributing, you might talk to your accountant about the possibility of using 2 QuickBooks files...one for each segment, then combine them on the tax return at the end of the year. I say this for a couple of reasons:
1. Retail sales are subject to sales tax and wholesale sales generally are not, so their is the risk of screwing this up.
2. The reports that you want seem to be geared more to the wholesale aspect, so I imagine that you don't want them to be cluttered with women who come in your retail store to buy one tube of lipstick.
You could also use classes to distinguish between wholesale and retail, this would be something that you and your accountant can decide on.
I am looking for the best software solution for my company. My (new) accountant likes QuickBooks. My old accountant (now ex) had our company's accounting totally "un-integrated". Accounts receivables in Maccola which I despise since most reports must be generated thru Crystal (ugh!). Accounts Payable, Payroll and G/L are run in QuickBooks but for some reason I can't understand it's not integrated. G/L entries are posted manually.
Our business is small: 20 employees, wholesale distribution; 6 stations; 1200 invoices a month; 900 inventory sku's; 800 customers; 10 salespeople; we need strong sales analysis reports, of sales per item and per customer; sku's purchased per customer; to send monthly to our manufacturers.
We also have a store for which I need a POS system integrated to our customer database.
So you think QuickBooks is the right software for us??? Thanks for any advice you can give us. The best way to contact me is thru email.
Answer:
I agree with your new accountant, your current accounting software is unacceptable for a company of your size. I played with one of the QuickBooks sample files for a while and I believe that you can get all the reports that you mentioned. I would suggest that you have your accountant set you file up, because to get all the information out that you want, the setup is going to be critical. Also if you or one of your employees plans on doing the entry, then you need to make sure that they are trained in the finer points of QuickBooks.
I personally have never had a client that used the QuickBooks Point of Sale Edition, but I have heard that it works relatively well.
Since you do both retail and wholesale distributing, you might talk to your accountant about the possibility of using 2 QuickBooks files...one for each segment, then combine them on the tax return at the end of the year. I say this for a couple of reasons:
1. Retail sales are subject to sales tax and wholesale sales generally are not, so their is the risk of screwing this up.
2. The reports that you want seem to be geared more to the wholesale aspect, so I imagine that you don't want them to be cluttered with women who come in your retail store to buy one tube of lipstick.
You could also use classes to distinguish between wholesale and retail, this would be something that you and your accountant can decide on.
Saturday, July 30, 2005
Posting A/P & A/R entries.
Question:
My name is Greg and I am a Business Manager for a non profit. Our year goes from July 1 to June 30 and our full year audit is due today. I went to post the year-end journal entry and quickbooks is telling me that a customer name must be provided on this split line entry. I am confused and getting frustrated. Any advise or help would be greatly appreciated.........
Answer:
Anytime that you post to an accounts receivable account, you must include a customer on the split line, otherwise your receivable accounts would be inaccurate. The same is true with accounts payable...you must include a vendor to keep A/P aging reports accurate.
My name is Greg and I am a Business Manager for a non profit. Our year goes from July 1 to June 30 and our full year audit is due today. I went to post the year-end journal entry and quickbooks is telling me that a customer name must be provided on this split line entry. I am confused and getting frustrated. Any advise or help would be greatly appreciated.........
Answer:
Anytime that you post to an accounts receivable account, you must include a customer on the split line, otherwise your receivable accounts would be inaccurate. The same is true with accounts payable...you must include a vendor to keep A/P aging reports accurate.
Friday, July 29, 2005
The FAIR TAX - Finally a Solution to our Income Tax System.
I have been an avid listener to the Neal Boortz show, I also make it a point to read "Neal's Nuze". He has done a great job over the last few months explaining how the travails of our current tax system can be fixed by the "Fair Tax." Through my experience as a CPA, I have seen both low income and high income taxpayers for lack of a better word...screwed by our tax system.
With a consumption tax, you are taxed when you spend...but don’t worry, there will be no 4 dollar gallons of milk. Under the current system, when you pay for that gallon of milk you are paying for the income taxes of the dairy farmer, the dairy/bottler, the wholesaler, the truckers that distribute the milk, and the grocery store. Under the "Fair Tax" that all goes away plus you keep 100% of your income (look ay your pay stub that will probably be a 30-50% raise...not bad).
On top of this, all taxpayers will be given rebate checks for the amount that the average person would spend on basic necessities.
This is a truly fair system...you don't spend...you don't pay tax. Rich or poor there are no loopholes and you don't have to pay me $300 to find out how much you owe (I hope I still have a job).
'You absolutely need to check out this book, I can't wait to get my copy.
With a consumption tax, you are taxed when you spend...but don’t worry, there will be no 4 dollar gallons of milk. Under the current system, when you pay for that gallon of milk you are paying for the income taxes of the dairy farmer, the dairy/bottler, the wholesaler, the truckers that distribute the milk, and the grocery store. Under the "Fair Tax" that all goes away plus you keep 100% of your income (look ay your pay stub that will probably be a 30-50% raise...not bad).
On top of this, all taxpayers will be given rebate checks for the amount that the average person would spend on basic necessities.
This is a truly fair system...you don't spend...you don't pay tax. Rich or poor there are no loopholes and you don't have to pay me $300 to find out how much you owe (I hope I still have a job).
'You absolutely need to check out this book, I can't wait to get my copy.
Customer Insurance Payments.
Question:
We are an insurance company and are setting up QuickBooks for the first time. In some cases the insurance company we are placing the business with will not accept customer check. We write the insurance company a check and the customer writes us a check. We are unsure how to enter these transactions into QuickBooks as they are not income or expenses. They just wash each other out. Thanks for the help.
Answer:
This is a very common question in your industry. The way that I have my clients set this up is as follows:
1. Set up a new current liability account named "Insurance Transfer Account" or something similar.
2. Set up a new invoice item named "Customer Premium Payment" classify it as an "Other Charge" and have it post to the account that you created above.
3. Receive the payment and deposit it just as you would any other invoice item.
4. When you pay the insurance company on behalf of your client, put the Insurance Transfer Account as the expense on the check expense section.
This has worked very well for several clients who are in this industry. You can always check the amount that you have in this account by looking at the current balance sheet.
We are an insurance company and are setting up QuickBooks for the first time. In some cases the insurance company we are placing the business with will not accept customer check. We write the insurance company a check and the customer writes us a check. We are unsure how to enter these transactions into QuickBooks as they are not income or expenses. They just wash each other out. Thanks for the help.
Answer:
This is a very common question in your industry. The way that I have my clients set this up is as follows:
1. Set up a new current liability account named "Insurance Transfer Account" or something similar.
2. Set up a new invoice item named "Customer Premium Payment" classify it as an "Other Charge" and have it post to the account that you created above.
3. Receive the payment and deposit it just as you would any other invoice item.
4. When you pay the insurance company on behalf of your client, put the Insurance Transfer Account as the expense on the check expense section.
This has worked very well for several clients who are in this industry. You can always check the amount that you have in this account by looking at the current balance sheet.
Wednesday, July 27, 2005
NetSuite Conversion. Help Needed!
Question:
We are converting from QuickBooks to Netsuite. Is there an easy data transfer program so that we do not lose all of our previous data?
Answer:
I am not aware of anything designed for this purpose...Is anyone else aware of something?
Netsuite is a big time accounting package, so I am sure that they offer a conversion service. However, with any of the big time accounting software packages come big time consulting fees. If you are just now buying their product you may be able to negotiate a good rate as part of a package deal.
We are converting from QuickBooks to Netsuite. Is there an easy data transfer program so that we do not lose all of our previous data?
Answer:
I am not aware of anything designed for this purpose...Is anyone else aware of something?
Netsuite is a big time accounting package, so I am sure that they offer a conversion service. However, with any of the big time accounting software packages come big time consulting fees. If you are just now buying their product you may be able to negotiate a good rate as part of a package deal.
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