2010 April | QuickBooks for Contractors blog

Monthly Archives: April 2010

QuickBooks 2010 & Enterprise 10.0 R6P to Fix Many Windows 7 Errors

Published April 22, 2010 | By Nancy Smyth

04/22/2010

Intuit has released R6 (as a manual update) for QuickBooks Pro 2010, QuickBooks Premier (all versions) 2010, and Enterprise Solutions 10.0. This manual update is available from http://support.quickbooks.intuit.com/Support/ProductUpdates.aspx?lid=UpdateDownloads%20%28SUB%20HDR%29

I attempted to download this update via the QuickBooks Automatic Update to find that the ONLY way to currently download the update is to use the link above.

Below are the Release Notes for R6P:

This latest QuickBooks Update offers improved performance, stability and functionality. Based on feedback, suggestions and recommendations from QuickBooks users like you, we’ve made improvements in a number of areas including:

• PDFs — We’ve resolved issues that previously impacted some 64-bit PC or Microsoft Windows® 7 users when creating PDFs.

• Payroll Capabilities — You can now start a payroll run, save the work you’ve completed and finish your payroll later. Your paychecks won’t be committed until you finish the entire payroll run.

• System Crashes — We’ve addressed various bugs that occasionally caused systems to freeze or crash.

We’ve also improved QuickBooks Reporting Capabilities, the Intuit Statement Writer and QuickBooks’ Back-Up Functions. Plus, we’ve fine-tuned a few areas. You’ll notice some functions will now load and perform faster. Finally, if you’re an accountant, we think you’ll especially like the improved performance of the Client Data Review feature.

Accountant Specific	Users may now add additional lines to a General Journal entry after using the Save button to save and stay in the form. Clicking the Save button at the top of any transaction gives a warning if the transaction date is prior to the closing date. QuickBooks Pro only: When setting up or editing the closing date, the field for confirming the password can now be edited.
Accounts Receivable	An Open Invoices warning now appears when receiving payments when using multiple Accounts Receivable accounts.
Client Data Review	Selecting or clearing unlinked transactions in Client Data Review will no longer jump sporadically to other transactions in the window. A warning message will now appear in Client Data Review when closing the unlinked transactions window with a check box selected in the first window and nothing applied to it. The Unexpected Error C=47 or an Unrecoverable Error will no longer display when applying credit memos to checks or credit card charges with different exchange rates in multi-currency files. QuickBooks no longer displays an unrecoverable error when applying two bill credits to one bill.
Company Snapshot	The confirmation message that appears when removing the “Recommended for You” widget from the Company Snapshot now gives the correct instructions to click Restore Defaults to add the widget. Company Snapshot reports for A/R Aging and Recent Transactions now load faster.
Database Server Manager	Database server manager utility now shows the correct QuickBooks release number.
Direct Deposit for Vendor	Help topics have been added for a new pilot feature, Direct Deposit for Vendor. This feature is being tested with a small number of QuickBooks users and is not currenlty available to QuickBooks users that are not participating in the pilot program.
Document Management	There is now an “Attach” menu item by right clicking a transaction in the Centers. New help content has been added for the drag & drop functionality of the Document Manager service.
File Operations	QuickBooks remains at the top of the screen when upgrading a file that uses data sync. Resolved an issue that was causes QuickBooks to hang after upgrading a company file from a prior version. When upgrading company files to QuickBooks 2010 the check font printer preferences are retained properly. Detection of data file damage is improved. QuickBooks now allows the use of whitespace and other characters in the company file name. QuickBooks unrecoverable error 20899 23098 no longer occurs when backing up a company file. QuickBooks no longer displays unrecoverable error 20898 16590 when opening a company file. QuickBooks no longer displays the error “Database Maintainance in Progress. Please try after some time” A more descriptive message is displayed when backing up a company file with a filename that is longer than 64 characters.
Form Templates	Company logo now appears properly when applying a new design to a template with an existing logo.
Google Desktop Search	(QuickBooks Simple Start only) Google Search no longer appears in the Icon Bar until it is installed on the same system.
Help	Help topics on printing from the Company Snapshot have been updated to specify that individual widgets can only be printed in portait and the entire Company Snapshot can only be printed in landscape.
Install	Installing QuickBooks 2010 using the Express Install option no longer leaves the icons and folders from your prior version on the system. The “Payroll for QuickBooks” icon created by the QuickBooks installer now goes to the appropriate payroll web site.
Intuit Statement Writer	Selected accounts under “Accounts in current row” will now remain highlighted when clicking on the Manage Accounts icon. Negative numbers formatted with parentheses will now align the last digit with numbers not included within parentheses. Microsoft Word 2007 users can now view and save files using the .docx and .dotx file extensions. Template files with the .dotx file extension can now be added to the Template Manager. Intuit Statement Writer will now allow users to filter by class when running Budget to Actual Statements. A new option has been added to Statement Properties that will allow you to select between Accounts or Accounts and Classes. Intuit Statement Writer will no longer overwrite information entered in the Excel header/footer each time data is refreshed from QuickBooks if Excel is selected in the Header/Footer Content control. New controls have been added to the Report Properties section of the Document Actions pane to allow users the option to use ISW or Excel Header and/or Footer information. An informational message will appear when users change the reporting basis of the Intuit Statement Writer report if a Budget to Actual Statement is included in the report. Multiple statements and supporting documents will now save as a single PDF file. The error message “Microsoft Office Excel is waiting for another application to complete an OLE action.” will no longer appear. Intuit Statement Writer will display a progress bar when creating statements from large QuickBooks company files. Intuit Statement Writer will no longer display the error message: “There is a problem with your Intuit Statement Writer installation. Please reinstall QuickBooks to fix the problem.” when opening. A Print Help button was added to the Microsoft Word ISW toolbar to advise users to print or Save as PDF in Excel. Cash Flow Statements will now display liabilities with the correct (Increase)/(Decrease) values. Intuit Statement Writer will no longer display the error message “Fatal Error: Method called with null parameter” when creating a report. Intuit Statement Writer will now display the correct calculated % values in grouped total rows. Vista users can now add the Word 2003 Addin when Intuit Statement Writer diagnostics detects the Office 2003 installation. Group Total Row will now display the correct value if a column is added.
Inventory	The Per Item Qty column can now be removed while customizing the build asembly template.
Invoices	Memorized Transactions is now available in the right click contextual menu when you right click while working on an invoice.
Licensing	User Licenses Icon will no longer reappear after it is removed
Multi-Currency	Realized gain/loss now calculates properly after assigning credit card refund/credit to an invoice with Multi Currency enabled. Added transaction validation to prevent the use of more than one type of currency in a single transaction. Resolved an issue where the balance sheet can become out of balance after entering a discount or credit memo to a transaction in a currency other than the home currency. When printing or sending a form, The currency symbol will now reflect the currency used in the transaction rather than defaulting to the currency symbol used in the operating systems regional settings. No longer get the message that the bank account and supplier need to be the same unless bank account is home when creating a check with a home currency bank account and a foreign currency supplier. Memorized deposits entered in a forign currency will no longer default to an exchange rate of 1. They will now pull the correct exchange rate from the currency list. QuickBooks will no longer display the message “to write a check using foreign currency bank account, the currency of the payee receiving the check must be the same as the currency of the bank account” when recording an expense, when the last bank account used in QuickBooks was a non-USD account.
Payroll	Added a checkbox that allows setting/unsetting of job costing for the payroll item being edited. You are no longer prompting to send paychecks when closing the online banking center. In the add/edit Payroll Item wizard, the Agency Accnt Number field for any payroll items that share a PaymentTemplate with the FUTA or Federal Withholding Payroll Items are no longer displayed. There is now a new preference in the Paystub Printing Preferences to print the “Company Phone #” on the paystubs. This satisfies the requirement for Washington and Oregon to have the Employer’s Phone number on the paystub. Long email addresses now show correctly on Paystubs. QuickBooks will no longer display the error 13912 19895 when accessing the Payroll Center. A Finish Later button now appears in the Enter Payroll Information window allowing you to save paychecks as drafts. Draft paychecks will then appear in the same window highlighted in yellow. When choosing the Custom Setup option to add a new payroll item, the “Add new payroll item” screen, Health Savings account has been added to the Deduction selection and the Company Contribution selection. Draft paychecks now show correct sick/vacation available values in the Preview Paycheck window. Changing the account on a payroll item will now generate a prompt asking if you want to change data. The paystubs for the most recent payroll completed before signing up for View My Paycheck are now sent to the View My Paycheck service. When using the new Tax Table, you can setup 4 new Health Savings Account TT type payroll items and they will now appear in the Excel workbooks in the Tax Tracking Type column as:HSA Company Taxable, HSA Company NonTaxable, HSA Employee Taxable, and HSA Employee NonTaxable. QuickBooks no longer prevents changing the state unemployment rates for the current year. A progress bar will now appear when sending paycheck information to ViewMyPaycheck.com from files with more than 80 employees. The Income Subject To Tax column has been added to Liability Adjustments. The Payroll Center will no longer display a yellow triangle with an exclamation point for some customers. QuickBooks no longer displays incorrect Year to Date amounts in the preview paycheck screen when a paycheck has been reverted during this editing session.
Payroll: Assisted Payroll	Corrected the QuickBooks calculation that was backing out some tax amounts when sending payroll. The Pre Send payroll confirmation report will no longer incorrectly display the AEIC amount added to the total liability. The Pre Send report will now correctly match the post send report. Assisted payroll customers that have been unable to pull up the Account Maintenance page will now be able to access the page.
PDF	Addresses an issue with the QuickBooks PDF Converter activation code used in the last release that was preventing QuickBooks from saving PDF files successfully.
Printing	The print dialog box for printing labels now has a “Number of Copies” option.
QuickBooks Error Reporting	Email address can now be included in the information that is sent to QuickBooks engineers whenever QuickBooks experiences a fatal error.
QuickBooks Merchant Services	Payment Method Type can no longer be changed from Credit Card to E-Check, Gift Card or Other in CM Credit Card Refund. Editing the memo field on an eCheck transaction no longer prompts to be re-processed “Close Tool Bar” link on recieve Payments windows has been replaced by a “Close Toolbar” button for better visiability.
QuickBooks Online Banking	Changed the name of the Online Banking Icon in the “Icon Bar” to Online Banking Center. “System argument exception: parameter is not valid” no longer occurs when accessing the Online Banking Center. Large-dollar-amount debits in .qbo files now import correctly.
QuickBooks Online Billing	Downloaded QBBS payment creation no longer fails for payments with a discount and sub-account
Reports	When creating and memorizing reports from the Transactions tab of the Customer Center changes made will now be retained and column headers will display properly. Memorized reports now retain filters for custom fields. Sales Tax reports no longer fail with the error “Too many transactions in group”. Additional Vendor Details are now reflected in the Unpaid Bills Detail Report. Reports now displays a No in the Uses Direct Deposit column for any employee that has the Use Direct unchecked.
Reports Center	Payroll Liability Balances Report now shows correct data when date filter on the Report Center is changed.
Startup	The QuickBooks Pro/Premier icon no longer appears in the Taskbar when loading QuickBooks Enterprise Solutions. QuickBooks no longer causes the computer to restart or display a blue screen when opening after installing a previous update.
Users and Permissions	Users without permission to view Time Sheets will receive a single message telling them that they need Time Tracking permissions if they attempt to use a weekly Time Sheet

What’s So Different About Accounting for Contractors?

Published April 22, 2010 | By Nancy Smyth

As we all know, having an accounting system is a vital piece of any successful business. An accounting system provides an automated and easy way to track how much money you are making vs. how much money you are spending.

Creating proper accounts in your accounting system to track your businesses Assets, Liabilities, Equity, Income, Cost of Goods Sold and Expenses will allow you to see an overall picture of your company’s worth or value from a financial standpoint – not only for yourself but also when you apply for a loan or have to be bonded.

A construction company, like any other company, has numerous responsibilities – to their employees, customers, vendors, subcontractors, investors and even the government.

This is where the similarities end!

The construction industry has some very specific accounting requirements. In addition to payroll, Accounts Receivable, and Accounts Payable functions, they need to be able to have systems to handle job costing, overhead, billing and/or invoicing, and if you use QuickBooks for your basic accounting you’ll also need integrated applications to handle project management, scheduling, customer management, etc.

No two contractors will have the EXACT same need for functionality OR use the exact same cost coding system for billing. So don’t let anyone tell you that every contractor uses a specific Chart of Accounts or Cost Coding system.

A typical construction specific accounting program (which carries a big price tag) includes Accounts Payable, Job Cost management, Accounts Receivable, payroll (including Union payroll), detailed job budgets, time and material billings, general ledger, AIA billing, subcontract status, custom job reports, certified payroll, over and under billings, purchase orders, Union reports, inventory, equipment tracking, work in progress, Retainage Receivable, Retainage Payable, etc.

There are many software packages available for the construction industry – ranging from $5,000.00 to $50,000.00 in price with expensive annual updates that do not include any support. Because of this, especially in this tight economy, more and more contractors are looking at switching to QuickBooks Pro, Premier, or Enterprise to fulfill their bookkeeping and accounting needs.

QuickBooks, while not specifically developed for the construction industry is:

extremely user-friendly
can provide a very strong accounting structure “backbone”
can be operated by personnel who have little computer knowledge (bookkeeping and accounting knowledge, however, is important – you need to know your “debits from your credits”)
and with the use of reasonably-priced QuickBooks integrated applications to provide some of the higher level functionality

All of these items combined make QuickBooks when used in conjunction with 3rd party integrated applications a viable and cost-effective choice for most contractors.

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American Public Works – Weekly Education Calendar

Published April 21, 2010 | By Nancy Smyth

APWA Presents: Click, Listen & Learn Classics for only $59 – Bridge Maintenance REBROADCAST April 27
Don’t Forget APWA’s FREE Online Mentoring Call is This Thursday, April 22, 2010: “The Secrets to My Success”
Mark Your Calendars for APWA’s Complete Streets Click, Listen & Learn: May 6, 2010
Celebrate National Public Works Week 2010 With Us!
Looking for Budget-Conscious Public Works Continuing Education Programming? APWA’s e-Learning Bundles are the Answer!

April Events

Asphalt Pavement Preservation – REBROADCAST
April 8, Audio/Web Broadcast

2010 North American Snow Conference
April 18-21, National Conference (Omaha, NE)

Self Assessment Using the Management Practices Manual
April 20, Self Assessment Workshop
Rolling Meadows, IL

Bridge Maintenance REBROADCAST
A Click, Listen & Learn Classic
April 27, Audio/Web Broadcast

May Events

Complete Streets – Designing Streets to Accommodate All Users
May 6, Audio/Web Broadcast

Developing and Utilizing a Strategic Plan
May 13, Audio/Web Broadcast

National Public Works Week
May 16-22, APWA National Event

Utility Coordination for Municipal Capital Improvement Projects
May 20, Audio/Web Broadcast

June Events

A New Vision for Public Works Management
June 3, Audio/Web Broadcast

2010 Sustainability in Public Works Conference
June 8-10, National Conference (Minneapolis, MN)

Stormwater Manager Certification Study Guide – PART 1
June 9, Audio/Web Broadcast

Stormwater Manager Certification Study Guide – PART 2
June 16, Audio/Web Broadcast

Stormwater Manager Certification Study Guide – PART 3
June 23, Audio/Web Broadcast

Assistant Water Plant Superintendent
City of Bowie, MD

Pavement Management Program Manager
City of Fort Collins, CO

Project Manager
Psomas – Roseville, CA

Senior Project Manager
Psomas – Los Angeles, CA

Water Supervisor
City of Tarpon Springs, FL

Senior Bridge Designer
Oregon Department of Transportation
Roseburg, OR

Plant Operator III
City of American Canyon, CA

Maintenance Supervisor
City of American Canyon, CA

Fleet Manager
City of Gillette, WY

CPWA WorkZone Job Postings:

Public Works Manager
Township of Esquimalt, BC

Director – Public Works & Environmental Services
Town of Tecumseh, ON

To view more postings or to post a Canada-based job, visit CPWA WorkZone!

Don’t Forget to Check Out APWA’s Business Alliance Partners!!

2010 Employee Training Video: Stormwater

NEW FOR 2010. JUST RELEASED. New video kit for training facility employees on stormwater pollution prevention: good housekeeping, exposure minimization, BMP maintenance, and spill clean-up. The new kit includes: new 16-minute training video/DVD/CD-ROM (“Stormwater Pollution Prevention: A Drop in the Bucket”) along with Trainer’s Guide, Quick Reference handouts, site-specific training template, and employee quiz. To arrange a 15-day trial preview: 888-925-6554 or mikek@excalvisual.com.

	2010 APWA Snow Conference April 18-21, 2010 Omaha, NE		APWA Sustainability in Public Works Conference Minneapolis, MN June 8-10, 2010
	Half-Price Membership Offer Take advantage of APWA’s offer for 1st-time members!		APWA National Public Works Week May 16-22, 2010

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Government Contracting Resources – An Overview

Published April 20, 2010 | By Nancy Smyth

From American Express OPEN

originally published Nov 18, 2009 -

For more information that can help guide your business in researching and securing government contracts, visit OPEN for Government Contracts.

Trying to apply for a government contract can be a daunting task. There are many requirements that need to be met from business size to socio-economic status. While the task may seem daunting, there are a multitude of resources available to small business owners mentioned during this panel discussion from our Teaming USA launch. The following is an overview of those resources.

PTAC’s – Procurement Technical Assistance Centers
PTAC’s are local offices administered directly by state governments or partners such as universities, community colleges, local economic development corporations or other local institutions. Each local PTAC office is tailored to the needs of the area and community it serves. Each PTAC is staffed with government contracting counselors who provide a wide range of services including individual counseling, seminars and access to a wide range of contract information such as bid opportunities, contract specifications and procurement histories.

Small Business Association
The SBA’s Office of Government Contracting provides resources for SBO’s as aids to help win government contracts as well as advocate on behalf of small businesses for federal procurement. Several resources the SBA offers small businesses that are attempting to be either prime or sub contractors include the Certificate of Competency, the Non-Manufacturer Rule Waiver, and the Size Determination programs. In addition, the office manages procurement programs for women and veterans as the as the Procurement Awards Program and the Annual Joint Industry/SBA Procurement Conference.

SCORE
SCORE’s mission is to “provides resources and expertise to maximize the success of existing and emerging small businesses.” SCORE is a non-profit organization geared towards educating entrepreneurs to help them grow their businesses. SCORE has 364 chapters and 12,400 volunteers who provide free advice and counseling to millions of small businesses nationwide. SCORE provides its services online via workshops, mentoring, articles and business templates. SCORE also provides face-to-face counseling at any of its 364 locations.

Successful Small Business Contractors Invest More in Time and Money to Pursue Federal Contracts : Innovation :: American Express OPEN Forum

Published April 19, 2010 | By Nancy Smyth

Successful Small Business Contractors Invest More in Time and Money to Pursue Federal Contracts : Innovation :: American Express OPEN Forum.

Apr 16, 2010 -

The first American Express OPEN Victory in Procurement (VIP) Small Business survey was released, reporting on findings from more than 1,500 business owners listed in the Federal Procurement Data System (FPDS) and registered on the Central Contractor Registration (CCR), the primary vendor database for the federal government.

Including active contractors, currently inactive, and non-contractors¹, the survey revealed compelling best practices for small businesses to succeed in government contracting. The two most important pieces of advice that successful contractors offered are to start with small contracts since they can lead to larger opportunities and to be persistent.

Active contractors made an estimated $86,000 investment in time and money in 2009 seeking federal contracts. The median sales for active small business contractors was between $1 and $4.9 million, and federal contracts accounted for 38% of their revenues.

Many small business owners who have not yet won their first prime contract are just getting started. Four in ten (42%) non-contractors have started pursuing federal contracting only recently, having registered on the CCR (a necessary first step in the federal procurement process) in 2008 or later. Thus, many of them will become successful – if they keep bidding – over the next year.

The survey also found that getting on the General Services Administration (GSA) Schedule can be an important strategy for winning federal government business. The GSA Schedule is a list of approved vendors for the products and services the government procures. One-third (34%) of active small business contractors are on the GSA Schedule while only 13% of currently inactive contractors are on it. There is a significant gender difference in the firms who are seeking procurement opportunities through the GSA Schedule: 40% of women business owners who are active contractors are on the GSA Schedule versus 31% of men business owners.

In another marker of success, fully 80% of active small business contractors who are on the GSA Schedule have annual revenues of $1 million or more and derive 47% of their annual revenues – at least $500,000 per year – from federal contracts.

For more information, click here.