27Sep 2010 by Nancy Smyth

QuickBooks 2011 – New Balance Sheet by Class Report – Part 5

QuickBooks 2011 - What's New?, Reports
The Balance Sheet by Class Report was first introduced with QuickBooks 2011, however, it is also available in QuickBooks 2012, 2013, and 2014; has specific requirements for handling many or our normal day-to-day transactions. it gives users the option of selecting “Classes” (fund, location, profit center, or other category) as their column/class grouping. Over the last several days, I’ve been discussing and sharing some information about how we all will need to change our data entry procedures in order to utilize the New Balance Sheet by Class Report available in QuickBooks 2011. In previous articles: QuickBooks 2011 – New Balance Sheet by Class Report – Part 1, we touched briefly on the fact that transactions will have to be entered in a very specific manner and there are many data…
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24Sep 2010 by Nancy Smyth

QuickBooks 2011 – New Balance Sheet by Class Report – Part 4

QuickBooks 2011 - What's New?, Reports
The Balance Sheet by Class Report was first introduced with QuickBooks 2011, however, it is also available in QuickBooks 2012, 2013, and 2014; has specific requirements for handling many or our normal day-to-day transactions; it gives users the option of selecting “Classes” (fund, location, profit center, or other category) as their column/class grouping. Over the last several days, I've been discussing and sharing some information about the limitations of the New Balance Sheet by Class Report available in QuickBooks 2011 which may make using this report unsuitable for some users. In previous articles: QuickBooks 2011 – New Balance Sheet by Class Report – Part 1, we touched briefly on the fact that transactions will have to be entered in a very specific manner and there are many data entry transactions…
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23Sep 2010 by Nancy Smyth

QuickBooks 2011 – New Balance Sheet by Class Report – Part 3

QuickBooks 2011 - What's New?, Reports
The Balance Sheet by Class Report was first introduced with QuickBooks 2011, however, it is also available in QuickBooks 2012, 2013, and 2014; has specific requirements for handling many or our normal day-to-day transactions; it gives users the option of selecting “Classes” (fund, location, profit center, or other category) as their column grouping.  This will enable QuickBooks users to perform divisional accounting with QuickBooks, which was previously impossible or required significant duplication of effort. While this report has been one that has been requested by many QuickBooks users and the accounting professionals who support them, it is not without limitations and drawbacks, making this a report that will be able to be used by some companies and in some instances but not all. In our previous articles, QuickBooks 2011 –…
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20Sep 2010 by Nancy Smyth

QuickBooks 2011 – New Balance Sheet by Class Report – Part 1

QuickBooks 2011 - What's New?, Reports
The Balance Sheet by Class Report was first introduced with QuickBooks 2011, however, it is also available in QuickBooks 2012, 2013, and 2014; has specific requirements for handling many or our normal day-to-day transactions.  This will enable QuickBooks users to perform divisional accounting with QuickBooks, which was previously impossible or required significant duplication of effort. While this report has been one that has been requested by many QuickBooks users and the accounting professionals who support them, it is not without limitations and drawbacks, making this a report that will be able to be used by some companies and in some instances but not all. QuickBooks calculates the class allocations for the report each time you run the report. Because of this, you must enter transactions in a very specific way.…
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16Sep 2010 by Nancy Smyth

QuickBooks 2011 New & Improved Purchase Order Reporting

QuickBooks 2011 - What's New?, Reports, Vendors & Accounts Payable
First introduced in QuickBooks 2011, however, also available in QuickBooks 2012, 2013, and 2014; 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. [caption id="attachment_982" align="aligncenter" width="297" caption="Right click on the image to enlarge it."][/caption] This report lists Purchase Orders by Items or Cost Codes…
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15Sep 2010 by Nancy Smyth

QuickBooks 2011 – New Sales by Ship To Address Report

Customers & Accounts Receivable, QuickBooks 2011 - What's New?, Reports
The Sales by Ship To Address report was first introduced in QuickBooks 2011, however, also available in QuickBooks 2012, 2013, and 2014.  As the name implies, this report will display Sales by Ship To Address. This report lists detailed sales information by ship to address.   To find this report, from the Report menu in QuickBooks Pro and Premier 2011 and Enterprise 11.0  -> choose Sales -> Sales by Ship To Address. [caption id="attachment_972" align="aligncenter" width="300" caption="Right click on the image to enlarge it."][/caption] The report initially shows a detailed listing of all items shipped to specific locations and then it includes a total for each unique address/city you ship to. The report includes invoices, credit memos, and sales receipts. It doesn't include statement charges, sales taxes, or reimbursed expenses. Each…
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08Sep 2010 by Nancy Smyth

QuickBooks 2011 – Computer Requirements & Office Compatibility

General QuickBooks News, New Technology, QuickBooks 2011 - What's New?
We all think that when we purchase a new computer and/or version of Microsoft Office - that all of our software; including QuickBooks 2011 will run perfectly........this is NOT always the case. Each version of QuickBooks (Pro, Premier and Enterprise) has different compatibility requirements for use with Microsoft Office.  Not all versions of QuickBooks 2011 (and some of the reports) are compatible with Office 2010.  Read these requirements carefully! QuickBooks Pro & Premier 2011 (excluding Premier Accountant Edition) Computer Requirements: 2.0 GHz processor, 2.4 GHz recommended 1 GB RAM for a single user, 2 GB RAM recommended for multiple users 2.5 GB available disk space (additional space required for data files) 250 MB disk space for Microsoft .NET 3.5 Runtime (provided on the QuickBooks CD) 1024 x 768 screen (monitor)…
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07Sep 2010 by Nancy Smyth

QuickBooks 2011 Available Beginning September 27, 2010

General QuickBooks News, QuickBooks 2011 - What's New?
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…
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01Sep 2010 by Nancy Smyth

QuickBooks Productivity Tip – Customizing Lists

QuickBooks Setup & Cleanup
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…
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31Aug 2010 by Nancy Smyth

QuickBooks Productivity Tip – Use the Open Window List

QuickBooks Setup & Cleanup
Using the Open Window List in QuickBooks is a huge productivity booster as it will allow you to quickly and easily go back and forth between tasks.  It will also allow you to see just how many and which forms and reports you do have open. Using the Open Window List is MUCH faster than opening and closing window or forms that you often use. If you aren't currently using the Open Window feature, you either close each form when you are done with it, or you always have a lot of windows open and don't realize it.  When you exit QuickBooks at the end of the day you may think that you only have one window open, but in reality you have maybe 8 or 10 - so when…
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27Aug 2010 by Nancy Smyth

QuickBooks Tip-Chart of Accounts, Your CPA & Your Tax Return

QuickBooks Setup & Cleanup
Many companies fail to set up their charts of accounts correctly in QuickBooks.  Over the years I have seen charts of accountants that look like a collage of accounts in helter skelter format without any logical order, containing duplicate if not triplicate accounts, inconsistent protocols, and even inappropriate, if not undecipherable, names. At tax time, when their CPA receives either a backup or Accountants copy of the file like OR reports that have been created from the file, it becomes an even bigger mess.  The trial balance that must be created by the tax preparer requires countless hours of reclassifications and groupings to mesh and coordinate the amounts within the file to the classifications required on tax returns and financial statements.  Business owners then bear the costs of needless and…
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16Aug 2010 by Nancy Smyth

Happy 10th Birthday – Sunburst Software Solutions, Inc.

"Maad" Rants & Other Stuff, The "Sunburst" Website
Back 2000 who would have thought that developing a QuickBooks integrated add-on would become a very popular trend among software developers? 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…
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02Aug 2010 by Nancy Smyth

QuickBooks for Contractors Tip – Advanced Progress Invoicing

Customers & Accounts Receivable
Progress Invoicing is a feature of QuickBooks® Pro, Premier and Enterprise editions, however, it is geared toward line item billing; more commonly used by contractors who work on large commercial and/or government construction projects involving a large scope of work or schedule of values and detailed line-item billing. Any contractor can run into a customer billing issue when attempting to utilize detailed job costing in conjunction with QuickBooks Progress Invoicing. A contractor will have to enter detailed information about labor, materials, subcontracts and other costs in the Estimate or Schedule of Values form in order to get an accurate Estimate vs. Actual report from QuickBooks. An issue often will arise when the contractor bills his customer using a percentage of a Lump Sum Draw, rather than a percentage of completion…
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