199 posts categorized "QuickBooks for Manufacturing"

Webinar: Understanding Assemblies, Bills of Material and Groups/Kits in QuickBooks

  Assembly Concept_665907886
Looking for a better understanding of how to set up and track assemblies and groups/kits in QuickBooks Premier, or Enterprise?

Get the insights you're looking for with my new webinar called "Understanding Assemblies, Bills of Material and Groups/Kits in QuickBooks"

Designed for all inventory based businesses that are looking for insights and ideas on how to use QuickBooks better!

Be sure to take advantage of the early registration discount too...

Webinar Registration Button


The QuickReport in QuickBooks - See the History of a Customer, Item or Vendor Instantly

QuickReport in QB

Ever found yourself trying to figure out why the on-hand quantity of an item went negative?

Wanted to see the invoices and payments for a customer during a particular period of time?

Been in search of the transaction details for inventory, customers or vendors?

If so, the QuickBooks Quick Report is something you'll want to have in your tool kit! (this is found in QB Pro, Premier and Enterprise - if it exists in QuickBooks Online, I don't see it...)


For example, let's say that you want to see the history for an inventory part in QuickBooks.

Simply find the part in your item list, highlight it, click the Reports box at the bottom of the item list, then click QuickReport (or CTRL + Q if you prefer keyboard shortcuts). You'll get a report that looks like this:

QuickReport Sample

As you can see, this provides a great way to visualize exactly what happened with this item during the period.

The same concept applies if you want to see what happened with a customer and/or jobs. Simply find the customer/job, right click on the name, choose QuickReport, and you'll get a report that looks like this (in this example, I did a QuickReport on the main customer and all the jobs for that customer):

  QuickReport Customer Sample

Hopefully having this report in your tool kit will help you save time while working in QuickBooks each week!


What's New in QuickBooks Desktop Enterprise 2018?

Whats New in QBES 2018

Want to take a closer look at the new features that Intuit has baked into QuickBooks Desktop Enterprise 2018?

My video will provide you with the quick tour you've been looking for to see what's inside:




Webinar: How to Track Inventory in QuickBooks Desktop (Pro/Premier/Enterprise)

Inventory and Warehouse

Wish you had a better understanding of how to set up and track inventory in QuickBooks Pro, Premier, or Enterprise?

Get the insights you're looking for with my new webinar called "Tracking Inventory in QuickBooks Desktop - From Purchase to Shipment"

Designed for all inventory based businesses that are looking for insights and ideas on how to use QuickBooks better.

Webinar Registration Button


5 Reasons to Pause Before Selecting QuickBooks Online for Inventory Tracking

Pause for QBO Inventory

Thinking about using QuickBooks Online (QBO) for tracking your inventory?

It may very well be a good choice for your business, but here are five reasons why it may not...

(NOTE: Unlike the desktop versions of QuickBooks that only update new features once per year, QBO releases new features and functionality more often. The listing below is accurate as of the date of this blog post).

Reason #1 - No backorder tracking

If your business is lucky enough to ship every order complete, then this isn't a concern at all.

If you do have backorders, then QBO won't help so much.

Unlike the sales order tracking feature in QuickBooks Premier and Enterprise, QBO does not offer sales orders. Without them, you're forced to develop some alternate method (think Excel) to track your unshipped orders.

I have seen some businesses try to use the estimate feature of QBO for open order tracking. While that is certainly a start, it usually isn't robust enough to run your business on.

Reason #2 - No ability to fix calculated average cost problems

Every inventory item you create in QBO has two costs that are associated with it. 

The first cost is the one you see in the inventory item master. I'll refer to this as the "purchase cost" and this is shown in the graphic below:


QBO Purchase Cost


The second cost is the one that QBO carries that you can't see - the "calculated average" cost, as shown in the graphic below:

QBO Average Cost

Unlike the Pro, Premier and Enterprise desktop versions of QuickBooks, QBO has no button, lever, or option available to fix this calculated average cost figure if it goes out of whack. I have worked with 3 levels of support at Intuit on this issue, and the only sound I hear is crickets when discussing it.

And it WILL go out of whack due to reason #3...

Reason #3 - No ability to stop on-hand from going negative

Do you often "ship negative" to get an invoice processed and out the door?

By that, I mean you create the invoice first, drive the on-hand quantity of an item negative at that time, and then make a vow to go back and fix it later?

If that's you, QBO is going to give you some heartburn.

If you "ship negative", that process then starts to cause problems with the calculated average cost that QBO holds (see reason #2 above). The calculated average then becomes incorrect, and then any inventory valuation type reports you run in QBO will be incorrect. I've seen the effects of this process first hand in a number of customer QBO files.

The Enterprise edition of QuickBooks desktop does have an option to stop a business from "shipping negative". The Pro and Premier desktop versions of QuickBooks don't have this option, but at least they have the "fix" available for the average cost.

Reason #4 - Can't Set the Closing Date if Inventory On Hand is Negative

The closing date in both the desktop QuickBooks and QBO is a great thing! It stops entries from being made or changes to existing entries in closed accounting periods.

Sadly, if you have just one (that's right, just one) inventory item in QBO that has a negative on-hand quantity at the time you go to set the closing date, you'll be presented with this lovely message:

QBO Closing Date

Sorry to say, there is no way around this other than to get in and fix each and every negative on hand value as of the date you want to set.

I have never seen the Pro, Premier or Enterprise versions of QuickBooks flash this message if an on-hand value is negative.

I am unable to even attempt to explain the logic behind the scenes as to why this happens in QBO - it makes no sense to me.

Reason #5 - No Custom Fields for Inventory in QBO

The Pro/Premier desktop editions of QuickBooks offer you five custom fields to use as needed.

The Enterprise desktop edition of QuickBooks provides fifteen custom fields to use as needed.

QBO offers....zero (at least that I could find anyway).

Depending on what type of information you need to track for your inventory (i.e. color, weight, size, etc.), you may find this to be a very limiting factor.


If you like the concept of QBO and find that it works well for other aspects of your business, you'll be glad to know there are options out there that can help fill in these missing pieces when it comes to tracking your inventory.

Plug-ins such as:

can be brought into the mix to help you overcome the inventory limitations currently found within QBO. Naturally, it's important to understand just what it is about your inventory that you need to track - that will help determine which plug-in may be the best fit for you.


I've been working with inventory-based businesses for over thirty years, and I welcome the opportunity to consult with your business on this topic.



The Inventory Planner - An Inventory Forecasting Tool for Your Business

The inventory stock status report in QuickBooks is a good way to keep score on your inventory, and see what items you need to order.

But what if you want more than it provides?

Consider a closer look at the Inventory Planner software package to help with your QuickBooks inventory forecasting needs.


Designed to help e-commerce businesses with their inventory management, Inventory Planner brings many helpful features to you, including:

  • Automatic forecast and replenishment
  • One click purchase orders
  • Overstock analysis
  • Tracking multiple sales channels in one central place

I really like the forecasting module, as it looks at both the sales history of an item as well as forecasted usage, as shown in the screen shot below:

Inventory Planner Forecasting

The same applies to the overstock module, as Inventory Planner identifies slowly moving inventory and helps to take action on it. You will see if product is overstocked according to its current sales velocity. It can also analyze some common reasons why a product might not be selling well, for example the most popular sizes or colors are sold out.

Inventory planner overstock


Currently, Inventory Planner connects to QuickBooks Online, as well as e-commerce platforms such as: Shopify, Amazon, WooCommerce and many others.

You can use Inventory Planner with the desktop versions of QuickBooks, but you'd have to use their CSV import tool in order to accomplish that. They currently do not offer a direct integration with QuickBooks desktop products (Pro, Premier or Enterprise).


Inventory Planner provides a free 14 day trial of their software. At the conclusion of the trial, pricing starts at $99/month for tracking up to 1000 skus, and then scales from there based on the number of stores and number of skus being tracked.

I have found their support team to be exceptionally responsive and helpful as questions have popped up in working with their software.

If you've been looking for a tool to help you plan and manage your inventory more effectively, I encourage you to take a closer look at the Inventory Planner package.


Are there alternatives to QuickBooks Enterprise?

Given the recent price increase for QuickBooks Enterprise software as well as the conversion from the Full Service Plan into the subscription model, some businesses are asking if there are alternatives to QuickBooks Enterprise.

Let's take a closer look at some potential options and explore them in more detail...


Naturally, the first thought is that it should be easy to convert from one desktop version of QuickBooks to another, right?

Not so fast...

If the goal is to convert from QuickBooks Desktop Pro to QuickBooks Desktop Premier, the conversion is simple.

If the goal is to convert from QuickBooks Desktop Pro or Premier into QuickBooks Desktop Enterprise, that conversion is also simple.

Going the other way and converting from QuickBooks Desktop Enterprise into QuickBooks Desktop Pro or Premier is not simple at all.

In fact, it cannot be done directly - there is no button or feature in Enterprise that will allow you to downgrade to Pro or Premier. You simply can't do it.

There are third parties that offer a paid QuickBooks Enterprise downgrade service, so you could certainly consider that as an option.

Just understand...

If you do opt to move to Pro or Premier, Pro is limited to a maximum of 3 users at a time in the company file, and Premier is limited to a maximum of 5 users at a time in the company file. There are also other key differences between the Enterprise, Premier and Pro versions of QuickBooks that you'll need to study so you know what you may be giving up. Chances are that you needed to get into Enterprise for a reason (more users, better security, more capacity, etc.), so the chances of Pro or Premier being a good solution for you may be very limited.



Ok, so moving from QuickBooks Desktop Enterprise into QuickBooks Desktop Premier or Pro isn't a good idea based on your research.

What about moving from QuickBooks Desktop Enterprise into QBO? After all, QBO is the future of QuickBooks according to everything that Intuit is saying.

Not so fast...

To me, I don't have to look any further than this information provided on the QuickBooks support site:


Based on that, I'm not spending any further time considering this path out of QuickBooks Desktop Enterprise.

But wait - they say they don't support moving data from QuickBooks Enterprise. What if I want to start with a brand new file and not move any data from QuickBooks Enterprise into QBO - will that work?

As Intuit notes in the message above, the differences in features between Enterprise and QBO are significant. If you've completely evaluated QBO (and I literally mean hammering on a trial copy of it for 30 days) and deemed it a possibility, then starting from scratch may be a viable solution for your business. Having worked with Enterprise since 2004, I just can't see too many businesses coming to the conclusion that QBO would be a good alternative for them as QBO currently exists. You'll know best though...



So you've been Googling alternatives to QuickBooks and you see options such as NetSuite, Sage and others appear in the search results.

It's important to understand that these packages are firmly rooted in what is known as the "mid-market" space. They are designed for businesses that need more features or functionality to support their operations and future growth plans.

QuickBooks Desktop Enterprise is somewhat in the "mid-market" space, but when compared to some of these other alternatives, the differences in features and functionality are extensive.

And of course, the differences in cost is extensive too!

As a rough rule of thumb, if your business is considering a move into NetSuite, Sage, or other similar mid-market package, your investment will likely begin in the $40,000 - $60,000 range, and quickly scale up from there.

Guess what?

Intuit knows these cost differentials quite well too. They have positioned QuickBooks Desktop Enterprise very nicely so that it is a far less expensive solution for businesses that don't need the complexity or cost of these mid-market packages.




Sorry to be the bearer of the news above, but I wanted you to know that your options to move away from Enterprise may be limited.

Given that, if you decide to stay put, you might as well snag the 20% lifetime discount on QuickBooks Desktop Enterprise I offer as a reseller.



I completely understand that you have more pressing things to do than understand the nuances of QuickBooks Enterprise. If you would like to discuss your situation in more detail, please contact me.

Be sure to add your thoughts in the comment box as well so others can share in your experiences with QuickBooks Enterprise!



What is a Sales Receipt in QuickBooks and How Can It Help Me?

Ever notice the little icon on the QuickBooks desktop road map that says Create Sales Receipts and wonder what it's all about?

Sales Receipt Home Screen

Here's the scoop...

A sales receipt is designed to post the sale of your product/service AND the payment for it all in the same transaction.

In the traditional invoice process (where you sell now and (hopefully) get paid later), there are three steps:

  1. Create the invoice
  2. Post the customer payment when received to credit the open invoice(s)
  3. Deposit the money in the bank

With the QuickBooks sales receipt process, if you're getting paid at the same time you deliver, you've now just cut the process down to two steps:

  1. Create the sales receipt
  2. Deposit the money in the bank

This results in 33% less work for you - how cool is that?

In fact, it is so cool, a client to whom I showed the sales receipt functionality exclaimed - "this is freakin' cool and will be an amazing game changer for our business!"

Love to hear things like that!

On the sales receipt screen, you simply plug in the payment details right there too as shown in the screen shot below: 

Sales Receipt Header Shot


Create the sales receipt, save it, and you're on your way to getting more done in less time.

Please share your experiences with QuickBooks sales receipts with us! Look forward to hearing how they work/don't work for your business...



Intuit Pushes Through Big Price Increases on QuickBooks Enterprise Desktop 2018 Edition

Does your business use QuickBooks Enterprise Desktop software?

If so, you'll want to fasten your seat belt and get into the details below.

My clients are experiencing a lot of questions and confusion on this, so wanted to get the information out to you as I know it.


To be sure we've got the basics of QuickBooks Enterprise Desktop subscriptions down, here is a quick recap:

  • QuickBooks Enterprise Desktop is ONLY offered on a subscription basis now (for those of you who still refuse to accept that, please understand that the old "buy once/use many years" model for Enterprise is dead. Has been since the fall of 2015, and there is no going back)
  • The subscription period is for 12 months
  • When you subscribed, you had the option to choose 12 monthly payments (monthly plan) or 1 annual payment (annual plan)
  • There are 3 subscription levels - Silver, Gold, and Platinum
  • If by chance you are still on the old Full Service Plan (FSP) of QuickBooks Enterprise, be sure to read this post that discusses what is happening with these accounts in the coming days.


The list price of QuickBooks Enterprise Desktop 2018 was raised 10% for BOTH the monthly plan and annual plan options as of 10/1/2017. This is the first price increase on the subscription model since it was introduced in 2015. This pricing will apply to subscription renewals that come due in October 2017 or for new subscriptions that begin in October 2017.

Here is a recap of the monthly plan and annual plan prices that reflect the 10% price bump - these prices are through 10/31/2017:

QBES 2018 Price Increase - October List Price

As a reseller of QuickBooks Enterprise Desktop, I am able to offer you a 20% lifetime discount off the QuickBooks Enterprise Desktop list prices. Here is a recap of my discounted pricing:

QBES 2018 Price Increase - 20% Off


Wait for it...

On top of the 10% price increase noted above that kicked in for both the monthly and annual plans for QuickBooks Enterprise, an additional 20% price increase will kick in effective November 1, 2017 for the MONTHLY payment plan option. The annual payment pricing will stay the same as shown in the October table above - it does NOT change as of November 1, 2017.

This pricing will apply to subscription renewals that come due in November 2017 or for new subscriptions that begin in November 2017 where the MONTHLY payment option is chosen.

QBES 2018 Price Increase - November List Price

As a reseller of QuickBooks Enterprise Desktop, I am able to offer you a 20% lifetime discount off the QuickBooks Enterprise list prices that kick in November 1, 2017. Here is a recap of my discounted pricing:

QBES 2018 Price Increase - November 20% Off


Yes I did.

For those who want to pay for their QuickBooks Enterprise subscription on a monthly basis, it will cost 20% more (on top of the 10% across the board price increase that kicked in 10/1/2017) as of November 1, 2017.

During the call that Intuit had for resellers where all of this was hurriedly explained, there was some mumbling about this 20% increase being some type of "finance charge" to carry the cost of financing the payments on a monthly basis. Other than that, I have nothing to share with you as to the how and why of this increase.

Intuit has advised that due to a programming problem on their end, monthly plan subscribers that renew between 10/19/2017 and 11/4/2017 will still renew at last years prices. They have provided no guidance to indicate if this is going to stay as is or if a fix is going to be put in place. Maybe you'll get lucky and miss it for another year!


Keep an eye on your mailbox for your renewal announcement. They are rolling out now.

Keep a sharp eye out on the price that is being shown on the renewal amount. Here is an example of what the renewal e-mail will look like:

QBES 2018 Renewal Notice

Note that the value showing for the renewal amount is automatically going to show the list price of the renewal. It will NOT show any discounts that are tied into your account.

For example, all of my customers that are getting the 20% lifetime discount on QuickBooks Enterprise are NOT seeing the 20% discount reflected in their renewal notices. Intuit has assured us that the discounts, while not showing on this e-mail, will indeed be applied to the account appropriately.

I cannot explain to you why the e-mails are being sent out this way. I have not received any reply from Intuit as to why this is happening.


I've shared with you what I know about this to date. If something changes, I'll be sure and update this post.

Unfortunately, there is no way to avoid the 10% increase that rolled out October 1, 2017.


If you are on the monthly payment plan and want to avoid the 20% price increase on QuickBooks Enterprise 2018 that kicks in November 1, 2017, it is possible to convert your account to the annual payment option. Simply complete my order form for QuickBooks Enterprise, and I'll get it taken care of for you.

If your inclination is to start looking for alternatives to QuickBooks Enterprise, I can tell you that your options are exceptionally limited. More on that in the next post.

Need help sorting all this out? Contact me and we'll review the specifics of your situation in more detail.



Eliminate wire transfer fees and simplify global payments with Veem

While attending the Accountex accounting show in Boston a few weeks ago, I spied a session on the agenda that was focused on simplifying wire transfers and global payments.

This topic is quite relevant for my consulting practice and likely for many of my clients too, so I made sure to catch the session to see what it was all about.

The folks from Veem did not disappoint...



The presentation by the Veem team was centered on this simple premise - "rethinking wire transfers and making the process easy and affordable".

As anyone involved in business to business wire transfers knows, the existing process is certainly not easy, nor affordable. And, it is not even close to being transparent.

Take a look at how the Veem approach to international payments works - a lot simpler, and far less hands touching things (click to enlarge):

Veem Diagram

As you can see, their process is eliminating the middleman from the international payment process. A wonderful idea!

Veem is currently positioned to send business to business funds to over 60 different countries (and expanding that list regularly) with no wire transfer fees. In addition, you can also receive payments via the Veem platform.


Yes, you read that correctly.

The Veem platform provides you the capability to send payments at no charge.

Veem gets paid by earning a small percentage on the foreign exchange rates that are involved in the transaction. I'll let them explain it to you via this example (click to enlarge the view):

Veem Payment Example


The Veem platform is backed by a number of prominent inventors from around the globe, including:

  • Silicon Valley Bank
  • Fenbushi Capital
  • SBI Holdings
  • Digital Currency Group
  • and others...

Veem indicates that they are currently servicing over 40,000 customers - many of them small and mid-size businesses like yours.

In addition, according to their web site, Veem was founded by a world class team of industry veterans with over 100 years of combined experience in payments, payment processing and banking IT infrastructure management, who aim to change the financial payment system through innovation.

Read more about Veem via TechCrunch and Forbes.


Veem has set up comprehensive pages of FAQ and helpful resources to help you better understand how their service works as well as the reasons why you should consider moving your international payments to them, and ditching your bank ASAP.


Veem also offers connectivity to the Xero and QuickBooks Online accounting platforms (sorry, it does not connect to the QuickBooks Desktop platform as far as I know).


Veem has provided me a special signup link to share with you to get you right into the flow of using their service. There are no signup fees of any type to use the Veem service!


If there ever was something that needed disruption, it is the wire transfer process. I think back to my CFO days 20+ years ago, and all the hassles I had with that process. You never knew much about what was going on, other than that I was getting nicked by fees all along the way.

All I know is that if Veem existed back then, I'd have signed up in a flash!

I wish the Veem team great success as they tackle this challenge...


Are you using Veem today? I welcome your feedback on how their service has worked out for your business...