Join us for an "Ask the QuickBooks Expert" event featuring Danny Allday. Danny is a QuickBooks Advanced Certified Professional Advisor, QBES Solutions Provider, and President of the Allday Consulting Group, a full service Louisiana-based CPA firm, specializing in assisting small businesses with building their business.
Add a message below to Ask the QuickBooks Expert!
***This event is closed. You will not be able to ask questions but you can still read the posts.
If you are not seeing your previous day's activity, then one of these things is likely to have happened:
a> Your Backup did not complete successfully. Make sure that you let QB do its thing until you get the message that the Backup was successful before you do anything with it. After doing so, check the file date and time on the backup to make sure that the file you think you're using is the correct one.
b> Make absolutely certain that you are all sending the same file back and forth -- ie, have user 1 enter their data, make a backup, send the backup to user 2, and make sure user 1 isn't using QB again until user 2 has done the same. I know that QB Mac 2004 lacked multi-user mode that would alleviate this problem (due to a limitation in the Mac OS and/or networking code at the time), is this still the case?
c> You are trying to backup directly to the flash drive instead of to the HD. QB has been known to have some issues with "sticks". Try backing up to your Desktop, then copying the backup to the stick for storage. Do the opposite before restoring: double-check the date and time, then copy it to the Desktop before restoring.
d> Your data has somehow become corrupted, either due to an internal data error or some issue with the HD or stick. Go to File > Utilities > Verify Data to check for errors, and File > Utilities > Repair data to try and fix any found. You may also want to consider contacting QuickBooks tech support to ask them to scan the file in greater depth and see if data repair is needed.
Question:
Adding a "Personal Leave" calculation to Payroll Jun 29, 2007 10:57 am
Our company pays its employees sick leave, vacation time and personal leave time. I can populate set up fields for sick and vacation, but cannot seem to add a 3rd setup for Personal Leave. How can I add this third Paid Time Off category to my listings?
Well, tried all that you mentioned with no positive results- It was there before, its there in other registers (bank accounts) in the same company- it's weird & I have no idea how to correct this- would reloading the program help?
In reconciling my May bank statement I found an error on the bank's part and they will credit the over charge on the June statement. I am not sure how to handle to discrepancy. I have not completed the May reconciliation. How should I handle this error and then the correction in June in QB?
Question:
Customer Paying Vendor Directly Jun 29, 2007 03:01 pm
Thanks for your reply. How would I then show the customer invoice paid? This is the same problem I've been having; the new item list, "Costs of Tickets Purchased" is an expense account; how do I show customer paying my expense account?
The item "Cost of Tickets Purchased" would be entered as a negative in the same amount as the selling price (the invoice amount). This would leave a zero balance due on the invoice and therefore not payment would be required.
Remember the customer pays the Airline, not you... so you don't record a payment. The sale is reflected on the invoice for the selling prince and the purchase (expense) is recorded on the same invoice. A negative expense item on an invoice created an increase in the Cost of Tickets Purchased Account.
If the Airline (or anyone else) owes you a commission on the ticket sale, you should create a separate invoice for that amount.
Create a Custom Detail Report. Then go to Modify Reports. On the Display Tab select Item and Account. In the Sort Field, select Account.
On the Filters Tab, you can further filter your report to include only the types of transactions you want included on the report.
This will group Items by Account. If you need them totalled by account, you will have to send them to Excel to perform the math or get a custom reporting program like Crystal Reports.
You might want to try a program by the name of BillQuick. I have not used it but I know it is widely used by many professionals who bill for time and expenses.
And it does integrate with QuickBooks. You can find it on the Internet by searching for BillQuick.
I am afraid that I have never experienced that problem before and cannot tell you how to resolve it. I don't have the same resources and technical guides and/or technical training that some of the Senior Technical Support people have at QuickBooks.
May I suggest that you call the QuickBooks technical support team?
Absolutely! All you have to do is go into the Company Information screen and change the "First Month in Your Fiscal Year" to "July" after you process all of accounting reports for June 30.
Question:
Customer Paying Vendor Directly Jun 30, 2007 04:26 am
I have a similar situation - I am affiliated with a vendor that provides me with a web portal to sell their items online. When a customer purchases an item from my portal, the vendor processes the sale, deducts the cost of goods sold and the credit card processing charges, and then credits my account with the profits from the sale.
Then when I order products from this vendor for my local customers or myself, I can use those credits to pay for these purchases. How do I track all this in QB? I'm thinking that I'd create an invoice to the Vendor for the web portal purchases instead of invoicing the customer, but how to I record the profits from these sales as a vendor credit that can be used to pay for my own POs later?
You can create an entry in your check register for the amount the bank owes you. You can set up an account such as "Due from Bank". Then you can clear the item on the reconciliation screen.
The next month, when the bank corrects the charge, you will enter an entry in the check register to reverse the previous entry. Then you can clear this item in the reconciliation screen.
This will be a little more complicated. If you will never receive a check from the vendor. You won't need to create an invoice from them. All you would need to do is enter a "Bill Credit". You do this by opening the Bills screen and selecting the "Credit" option.
If will sometimes receive checks and sometimes receive vendors credits, then you will have to invoice the vendor. When the invoice to the vendor is "used" toward your purchases from that vendor, you can either enter a Credit Memo for the amount of the Purchases or you can use the Apply Discounts feature to the Invoice. The Credit Memo provides a more clear audit trail.
You will have to set up an item on your Items list that can be used for "Product Purchases". When saving the Credit Memo, QuickBooks will prompt you, asking how you want to handle the Credit Memo. You can opt to apply it to an invoice.
The second step to this would be to enter the Bill Credit for the same amount (using the same Item) for the Credit Memo.
I don't know if reloading the program will help or not. If you think it is worth it, give a call to the QuickBooks tech support team. They have special training and other resources that I don't have access to.
Question:
Customer Paying Vendor Directly Jun 30, 2007 02:19 pm
Another option that came to my mind was to create a "Vendor Credit" bank account. I could invoice the vendor for the profits of the online sales (I'd setup a "Portal Profits" item as either a Service or Non-Inventory Part or Other Charge), then receive a "phantom" payment from them and deposit it into the Vendor Credit account. Then when I use the credits for purchases, I could apply a "phantom" payment from that account as full or partial payment towards my invoice from them.
I may (given enough sales volume) be getting checks from them in the future. Does this sound like it will work?
I have to give it to you. I like that idea. It shows some QuickBooks creativity on your part.
Doing it your way creates a an account similar to Undeposited Funds (waiting to be deposited). In your case, you would be depositing it to your "Vendor Credit" bank account.
Your Balance Sheet will look a little funny because it will show a Bank Account for money you don't have to spend, but as long as you know what it's far, then that's all that matters.
My only concern is that when you do start receiving money, you will have to be know when to post it to the Vendor Credits bank account or to the regular Checking account.
But, now that I think about it. You can always do a Bank Transfer to move money from your Vendor Credit Bank account to the Checking Account whenever you receive real money.
Hi,
I just purchased a new monitor for my computer. Somehow it changed the texts size on the screen. An example is when I am viewing my chart of accounts the print is so small that I need to get closer to the monitor to read it.
My question is how do I change the texts/font?
Thanks,
Steve
