98 posts categorized "Customers, Jobs and Projects"

Hiding Item Costs in QuickBooks - Can It Be Done?

When it comes to workflows within a business, I've seen a wide variety of them over the last thirty years.

One topic that seems to be entering the conversation with greater frequency these days is the ability to hide the cost of inventory parts, assemblies and kits within QuickBooks.

The reasons for wanting to hide the costs are many and varied, but the desire has been expressed many times.

QUICKBOOKS ITEM SETUP

If we look at a screenshot of the item master, you can see that both the purchase cost (for use on POs) and the average cost (for use with inventory valuations and costs of goods sold) are plainly visible:

QB Item Master Screen Shot

None of the versions of QuickBooks (Pro, Premier or Enterprise) offer the ability to block users from seeing these cost fields, assuming that the user has been given the permission to work with items and inventory. If they don't have the permissions, naturally they don't see item costs. However, they can't access the items either, and in many cases, that will restrict their ability to do their jobs (i.e. receive inventory, create purchase orders, etc.)

ALL ORDERS BY NUMBERCRUNCHER - AN ALTERNATIVE TO ALLOW INVENTORY COST BLOCKING

If this "cost-blocking" is a must have for your business, that will force you to step outside of the QuickBooks functionality to add-on packages that have it.

One such add-on that does off the ability to hide item costs on purchase and sales transactions is All Orders by NumberCruncher.

The screen shot below shows that it is possible to block cost and/or sales figures at the user level if desired:

NumberCruncher User Setup Cost Block

Feel free to explore All Orders in more detail, and take a free test drive if you like too.

UNDERSTANDING THE ADD-ON CONCEPT

Add-ons (some refer to these as "bolt-ons" or "integrated solutions") such as All Orders are designed to fill in gaps where QuickBooks doesn't do something very well, or doesn't do something at all. 

In the case of All Orders, it is designed to be either a stand alone inventory solution, or it can integrate with QuickBooks desktop versions. If you choose to integrate it with QuickBooks, All Orders will then pretty much take over the "front end" of the business (i.e. purchase orders, inventory management, sales orders, etc.), and then QuickBooks will remain in the picture on the "back end" of the business (i.e. bill paying and financial reporting).

There is plenty of horsepower packed into the All Orders package that will help take your inventory management and related tasks to the next level of tracking and sophistication. Naturally, there is an investment of time and money required to get up to speed on it or any add-on for that matter. The good news - when properly chosen and implemented, the return on investment of these add-ons can be quite good!

RELATED INFORMATION:

 

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Quick Tip for Reconciling Your Bank Account in QuickBooks

Reconciling bank accounts in QuickBooks can take some time.

It can take even more time if you accept credit cards, and your merchant service provider takes the credit card fees out of EACH transaction!

Spend less time on bank reconciliations with the following tip.

LET ME EXPLAIN...

Let's say that you ring up a sale for $100 today and the customer pays via credit card.

When this deposit shows up in your bank statement, does it show up for the full $100? Or does it show up for something like $97.54 because the processor has taken their fee out of it right then and there?

If it is the latter where they are taking out the fees for each transaction, stop what you are doing and call them right now.

Ask to have your merchant service account fees set up on the "gross fees" basis instead of the "net fees" basis.

Under the "gross fees" basis, in the example above, you would see the full $100 being deposited into your bank account (the full "gross amount" is deposited). Your merchant service provider would then just hit your bank account once per month for the total of all the credit card fees for the month, and NOT take them out on a transaction by transaction basis.

Naturally, the merchant service provider normally defaults to the "net fees" basis, since they get paid faster that way. All it usually takes is a phone call to get it switched around!

The big benefit to you? Your $100 deposit will now reconcile on the bank statement in a nano-second!!

 

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Easily Import and Export Information Between QuickBooks and Excel With Transaction Pro Tools

Ever find that your business needs the ability to import or export information between QuickBooks and Excel?

Of course, QuickBooks natively offers the ability to export any report to Excel, and does offer the ability to import customers, vendors, and items via Excel too.

But if you need more features, functionality, or control over moving information in and out of QuickBooks, you'll want to take a closer look at the Transaction Pro tools from Baystate Consulting.

TRANSACTION PRO IMPORTER AND EXPORTER

Baystate has created both a Transaction Pro Importer tool to take data from Excel or CSV files and import it into QuickBooks. Their Transaction Pro Exporter program moves data the other way - from QuickBooks to Excel or CSV files.

What type of information are we referring to here?

This is just a short list of the information you can move between QuickBooks and Excel:

  • Customer lists, vendor lists, chart of accounts
  • Item lists (including inventory assemblies!), fixed asset lists
  • Groups and price level lists
  • Item receipts, purchase orders, bills, bill payments
  • Sales orders, sales receipts, estimates, invoices
  • Much, much more...

FREE TRIAL IS AVAILABLE

Care to try before you buy? Fully functional demos of both the Transaction Pro Importer and Exporter tools are available (there are limitations on the number of items you can import/export in the trials of course).

I have found the Baystate team to be exceptionally responsive and helpful to customer inquiries, and they have a very helpful support forum as well where folks can exchange ideas and get questions answered.

Hope you find these tools to be great additions to your tool kit...

 

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TSheets Adds Employee Scheduling Features

One of the most loved employee time tracking apps for QuickBooks (rated 5 stars!) has recently added some new functionality for tracking employee schedules too.

TSheets Logo New

TSheets now offers you the ability to:

  • Eliminate dry-erase boards and funky Excel sheets
  • Schedule employees by shift
  • Schedule staff by job or task - just drag and drop on the schedule
  • Push notifications to employees by text or e-mail

Naturally, TSheets offers an impressive array of methods to capture your employees time, including:

  • Desktop or laptop computers connected to the internet (you can even work offline and upload when online)
  • Smartphones or tablets (Apple or Android)
  • Text message
  • Even call-in capabilities to record time

And did I mention that they offer GPS time-stamping too?

A 14 day, no risk free trial of TSheets is yours for the asking, so if you need an easy way to track employee time or create employee schedules, visit with them today for a closer look. If you like what you see, use code BLASACCTG and get 10% off the TSheets service.

ARE YOU CURRENTLY USING TSHEETS?

If so, your comments and feedback on how it is working out for you are welcome!

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A Super Easy Way to Track Mileage (and a special bonus for you!)

Are you one of the 55 million U.S. workers that can deduct or expense the miles you drive?

If so, the MileIQ app is just for you.

FEATURES OF MileIQ

  • Catch every drive automatically with automatic drive capture
  • Build a comprehensive mileage log
  • One swipe drive classification
  • Additional drive details (vehicles, parking, tolls and notes)
  • Standard and custom trip purposes

EVEN MORE FEATURES OF MileIQ...

  • Vehicles and odometer readings
  • Editable mileage rates and units
  • Work hours and custom drive purposes
  • Email and notification preferences
  • Support for mileage reimbursement and mileage deduction
  • And more!

MileIQ works on Android and Apple platforms and is available in annual, monthly, or limited plans.

DOWNLOAD FOR FREE AND SCORE THIS BONUS!

Download MileIQ for free today so you can see it in action for your needs.

Use this special download link, and your free account will be tagged with a 20% discount if you ever decide to upgrade into the paid version of MileIQ.

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Vertex SMB - A Sales and Use Tax Management Solution for QuickBooks

Do you find your business struggling to manage sales and use taxes?

Looking for a more automated sales and use tax solution that also integrates with QuickBooks?

If so, you may be interested in the Vertex SMB solution.

INSIDE THE VERTEX SMB (small and medium business) SALES AND USE TAX SOLUTION

Here are some of the features of their solution:

  • Calculations and returns in one one place - perform tax calculations and generate PDF ready returns all in one place
  • Use tax calculations - calculate and report use taxes
  • Exemption certificate management - store, update and manage your exemption certificates
  • Sales tax rate files - get the rate files you need for the specifics of your business
  • Works with QuickBooks!

PAY AS YOU GO

Vertex SMB is designed to be easy on the budget - you simply pay for what you use every month. No long term contracts involved - pay for the service monthly.

ABOUT VERTEX

Vertex SMB is the business division of Vertex Inc. dedicated to small and medium-sized businesses. Vertex calculates tax for over 10,000 taxing jurisdictions across the globe and tracks and maintains over 600,000 unique taxability rules across tax types.

LEARN MORE

See how the Vertex SMB sales and use tax solution that integrates with QuickBooks can benefit your business today!

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Learn How to Get Paid Faster from Your Customers

Want to get paid faster?

Get a better handle on managing your customer accounts receivable?

Funding Gates is offering their Ultimate Receivables Training Management Program in February, and I wanted to be sure you knew about it. Here is your special bonus discount code to save 20% on your registration: ARPRO

WHAT YOU'LL LEARN IN THE ULTIMATE RECEIVABLES TRAINING PROGRAM

The program consists of three key segments:

Part 1: Key Accounts Receivable Metrics

  • Master the A/R ratios that determine the health of your A/R
  • Run and analyze monthly reports and trends
  • Get actionable insights and develop a working game plan

Part 2: Setting Up the Right Receivables Management Process

  • Understand when and how to set the right payment terms and credit limits
  • Learn best practices around invoicing and electronic payments
  • Set up the right tools for managing this critical area

Part 3: Active Receivables Management

  • Flag problematic accounts that need attention
  • Gain the knowledge you and your team need to take action
  • Stay on top of your A/R tasks

WHO IS THIS SESSION FOR?

Anyone can get trained -- whether it’s your staff, your accountant or bookkeeper, get the tools for your team to be super-effective in receivables management. Access your online training program from your home or office; all you need is your computer.

SPECIAL DISCOUNT CODE JUST FOR YOU

Funding Gates is extending a very special discount to you as a reader of my blog - just enter ARPRO at the registration page and you'll save 20% on your registration.

Learn more about the Funding Gates Accounts Receivable Management program and register today to take advantage of their early bird registration discount!

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What the heck are the flat and hierarchical list view options in QuickBooks?

Take a closer look at the following screen shots out of a sample QuickBooks item list (could just as easily be a view of the QuickBooks customer/job list):

View #1:

Item List - Indented

View #2:

Item List - Flat View

Feel like you are at the eye doctor?

See any difference? (hope so!!)

"HIERARCHICAL" (INDENTED) VIEW VS. FLAT VIEW

When looking at view #1 above, you are looking at what QuickBooks refers to as the "hierarchical" view of the item list (I like to call it the indented view). Whatever you may call this view, it is visually representing that there is an "item/sub-item" relationship going on here.

In this case, Bath/Vanity Fixture is the main item, so it sits at the top of the list. Below it, you see the subitems, such as item # 5029-03-55. These sub-items show up being indented on the list so you can visually see they belong to the parent item above it.

QuickBooks provides this view (and the corresponding item/sub item or customer/job if looking at customers) so you can easily group similar things together within the list - makes for easier viewing and easier filtering of the list data in many cases.

View #2 represents the "flat" view of the list information. There is no indenting going on - all of the item numbers are showing up "flat" up against the left hand side of the list.

CHANGING THE VIEW DOESN'T CHANGE THE UNDERLYING DATA

You can easily switch from hierarchical to flat view and back by simply right clicking on the list and choosing the view you prefer, as shown below:

Item List Display Options

Keep in mind that the view you choose does not affect the data itself. If you have items/subitems or customers/jobs set up, those relationships will stay just as they are.

AND IN CASE YOU SEE THIS...

If you go to do some searching within your customer/job list, you'll then see the list automatically switched over to the flat view of the information. I'm not sure exactly why that happens, but you can easily reset the view by right clicking inside the customer/job list and resetting it back to hierarchical/indented view.

MORE QUICKBOOKS TIPS FOR YOU

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How to Get QuickBooks Job Profitability Summary Report to Show the Cost of Inventory Adjustments

Do you track inventory adjustments to jobs or projects in QuickBooks?

If so, have you ever noticed that the cost of those adjustments does NOT show up on the job profitability summary report? (hopefully you noticed that is, or you are having a major "oh crap moment right now!!)

Strange, isn't it? You'd think that if you set up the transaction properly, the information would flow automatically to the report.

A TWEAK TO THE JOB PROFITABILITY REPORT SETTINGS

This support article from Intuit discusses the quick tweak that needs to be made for the inventory adjustment detail to appear on the report.

Once you do that, this vital inventory adjustment information will appear and your job profitability reports will be much more accurate!

ADDITIONAL RESOURCES AND INFORMATION

 

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Pending Sales Report for Pending Invoices in QuickBooks

If you choose to use "pending invoices" to track open/unshipped orders in QuickBooks, you'll want to know about the Pending Sales Report.

Located by clicking Reports > Sales > Pending Sales, you can quickly and easily see a list of all your pending invoices in one place, as shown in the sample screenshot below:

WHY NOT USE SALES ORDERS INSTEAD?

During a recent consulting call with a client, we were discussing their use of "pending invoices" to track open orders.

I asked them why they weren't using sales orders for this purpose. They indicated they didn't really know about the sales order functionality in QuickBooks (Premier and Enterprise versions), so didn't think to use them.

Once we reviewed the sales order process, they immediately saw many benefits to this approach over the use of pending invoices, including:

  • The ability to see open sales orders both by customer and by item
  • The ability to see inventory demand on sales orders appearing on the inventory stock status report
  • The ability to use the sales order fulfillment worksheet to visualize and prioritize shipments

If your business has a need to track open and unshipped/unfilled orders, I definitely recommend the sales order approach over the pending invoice approach.

Download my guide that discusses how to use sales orders in QuickBooks today.


ADDITIONAL RESOURCES

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