fishbowl inventory

The news we have all been waiting for – QuickBooks 2011 announced.

According to a press release from Inuit, QuickBooks 2011 will be available to purchase beginning on September 27th 2011 directly from Intuit and Authorized QuickBooks Affiliates (such as ourselves).

Some of the new features include:

  • Customer Snapshot – which offers a consolidated view of an individual customer’s purchase history, average days to pay, and outstanding balance.
  • QuickBooks Search – lets users quickly find any customer, account, report, and even invoice details within their company file; using a simple keyword search.
  • Customer Y Vendor History – provides at-at-glance views of customer and vendor details; such as history, estimates, and past orders – all on a single screen.
  • Balance Sheet by Class - allows Premier and Enterprise users to trace multiple funds, departments, or locations in a single balance sheet report.
  • Batch Invoicing – lets users who often bill many customers for the same service to create a single template invoice to send to all related customers.
  • Yahoo, Gmail, Hotmail Integration – allows users to send invoices, estimates, reports, etc via email using these email providers.
  • Collections Center – helps users to identify overdue and almost due invoices, and then directly email collection notices from Outlook, Yahoo, Gmail, or Hotmail.
  • Improved Integration with Office 2010
  • Improved Purchase Order functions and reports.
  • Commissions Manager
  • Customer Snapshot
  • Improved Document Management
  • File Manager – geared toward Accountants or companies with multiple QuickBooks company files.
  • Faster Start Up & Load Times
  • Multi-location Inventory for Enterprise Users
  • New Online backup
  • Improved PDF printing
  • Work with Multiple QuickBooks files at the same time – geared toward accounting professionals or businesses that have multiple company files.

Watch over the next few weeks for reviews of these features and more.

Download a 2-page.pdf which provides an overview of new features available in QuickBooks Pro & Premier 2011, Enterprise 11.0 and QuickBooks Online versions, by clicking here.

Back 2000 who would have thought that developing a QuickBooks integrated add-on would become a very popular trend among software developers?

Happy 10th birthday Sunburst Software Solutions, Inc.Heck, there wasn’t even a widely known, let alone an “Intuit approved method” of accessing QuickBooks data at that time, so WHY would anyone want to form a company that would read QuickBooks data to generate certified payroll reports for construction contractors?

Yet, on August 16, 2000 that is exactly what Ben & Nancy Smyth of Sunburst Software Solutions, Inc. decided to do – write QuickBooks integrated software that would produce Certified Payroll Reports for government construction projects.

Ten years and almost 4,000 contractors using QuickBooks later; Sunburst is still going strong.

We would like to say “thank you” to all of our current and past customers for their support and feedback; you’ve only helped us provide more functionality than we initially planned for.

A reader asked the following question:

We are a small contractor in San Diego and we are wondering how we get around having to always do an inventory adjustment to get our purchases to the correct COGS account?  We have (2) departments but they are both doing construction projects:  Service dept does smaller installs and Contracts dept does the bigger jobs so I have been doing a JE to move the material from the Contracts material COGS account to the service COGS account.
Is there an add-on for QB Enterprise 8 that we could use?

Thank you so much for your website/blog. I’ve been reading it faithfully every day!

____________________________________________________________________

There are several inventory add-ons for QuickBooks Pro, Premier and Enterprise; check out these 3rd party add-ons at the Intuit Marketplace.

double-sided item

Recording costs and income with an item

Based on your comment about “always having to do an inventory adjustment in order to get your Purchases to the correct COGS account”, makes me think that perhaps your items are not correctly set up.

Make sure that your QuickBooks Inventory Items are set up so that they capture both the cost/purchase account as well as a sales account; this method is called a “double-sided” item.

When any type of QuickBooks Service, Inventory, Non-Inventory, Other Charge Item is set up this way you are able to capture the purchase price as well as the sales price.

When you enter a bill from a vendor for the inventory item (or write a check) you should be using the ITEM tab and not the Expense tab.

I’m confident that if you aren’t currently using the QuickBooks Purchase Order function that you would find that beneficial also.

Additionally, rather than using Journal Entries to classify whether it was the Service or Contracts Department – consider using “classes” to handle that.

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