QuickBooks Pro & Premier 2011 and Enterprise Solutions 11.0 offer new and improved Purchase Order Reporting.
The Open Purchase Orders Detail report is new in QuickBooks 2011 versions (Pro, Premier and Enterprise 11.0). As the name implies, the report displays items (cost codes) that haven’t been received in full.
I’m excited to see that after many years, Intuit has finally fixed the Purchase Order reports to ACCURATELY display open balances, without a lot of additional manipulation by the user.
To find the new report, from the Report menu in QuickBooks Pro and Premier 2011 and Enterprise 11.0 -> Purchases -> Open Purchase Order Detail.
Right click on the image to enlarge it.
This report lists Purchase Orders by Items or Cost Codes that haven’t been received in full. By default, QuickBooks displays the following information for each Item or Cost Code:
- Date – the date of issue
- Num – the Number
- Name – the Customer and/or Job that the item ordered is for
- Source Name – the Vendor or Subcontractor who you placed the order with
- Memo – the Item or Cost Code description used
- Delivery Date – if you utilize the Delivery Date field on the form, the delivery date you entered will display
- Qty – the original Quantity, Units, or Hours that was ordered
- Rcv’d – what portion of the original quantity ordered has been received
- Backordered – what portion of the original quantity ordered has not yet been received
- Amount – the original dollar value
- Open Balance – the dollar value that has yet to be received
Right click on the image to enlarge it.
QuickBooks groups the same items/cost codes together.
Right click on the image to enlarge it.
Personally, I would change the way the report displayed information. Rather than to display the information based on Items or Cost Codes, I would like the information to be grouped by Customer and then by individual Job. To accomplish this, I would click the Total By drop down menu and select Customer.
Right click on the image to enlarge it.
The Open Purchase Order report has been improved, as it now displays an accurate Open Balance, however, you cannot modify the report to pull in Customer, Job, or Item (Cost Code) Information, however, it only provides a brief summary.
Right click on the image to enlarge it.
The Open Purchase-Orders by Job report has also been improved, as it now displays an accurate Open Balance.
Right click on the image to enlarge it.
In order for any of these reports to work correctly you will have to enable the use of Purchase Orders (Edit menu -> Preferences -> Items & Inventory -> Company Preferences -> Inventory and purchase orders are active option must be checked); and you MUST use Quantities when you create a Purchase Order, when you receive the item, or enter a bill against it.
Right click on the image to enlarge it.
My overall opinion is that for any company that issues Purchase Orders, this is a marked improvement in the overall functionality of QuickBooks.
——————————————-
 |
Request our FREE 142-page “What’s New in QuickBooks 2011? eBook, by completing a simple request form.This eBook will provide you with with all the information I’ve posted here in our blog, plus MORE!
Once you’ve completed our simple request form, you’ll have instant access to this 142-page .pdf eBook, designed to be duplex printed and put in a binder for future reference. |
The “List” is another basic QuickBooks feature. You will fill out most QuickBooks forms by selecting entries from a list. Lists save you time and help you enter your information consistently and correctly.
QuickBooks Lists are the backbone of the entire process of keeping your books. Each and every transaction that you enter in QuickBooks will work with multiple lists in order to provide you with job costing and accounting functions.
You will find yourself always using these standard lists:
- Chart of Accounts
- Item (Cost Code)
- Fixed Asset
- Price Level
- Billing Rate Level
- Sales Tax Code
- Payroll Item
- Class
- Workers Comp Code
- Other Names
When you select any of these Lists, they display various information, arranged in columns. Did you know that these columns can be customized to display additional information that would be valuable to you and your company?
A good example of customizing information that is displayed in the Chart of Accounts List would be to automatically know, just by looking at the Chart of Accounts, which accounts had been flagged as being 1099 accounts – without having to go into the 1099 Preference and determining which accounts had been selected.
To display a 1099 flag in your Chart of Accounts, you would:
- From the Lists menu
- Choose Chart of Accounts
- Click the Account button at the bottom of the window
Right click on the image to enlarge it.
- Choose Customize Columns
Right click image to enlarge it.
- This displays a Customize Columns – Chart of Accounts window which displays a list of Available columns on the left and Chosen columns on the right. Click on the 1099 Account option to select it, then click the Add button.
Right click image to enlarge it.
- The 1099 Account option is now displayed in the Chosen Columns on the right. Click Ok to save your changes.
Right click image to enlarge it.
- Now, when you display your Chart of Accounts List, any accounts that have been selected for 1099 reporting will be flagged and display the type of 1099 required.
Righ click image to enlarge it.
Customizing the columns displayed in the Chart of Accounts listing to display 1099 flag provides a productivity boost all year long – not just at year end.
Go ahead and experiment with the information displayed in various lists by selecting available columns on the left and adding them to chosen columns on the right.
Simple customization such as this will help you get more done in less time – because you don’t have to constantly search for information.
