24 posts categorized "QuickBooks 2014"

How To Condense/Archive Your QuickBooks Data File Because it is Too Big

Do you find that your QuickBooks file is running very slowly?

Does it seem to take forever to run reports or look up information?

If so, your QuickBooks company file may be a prime candidate for condensing/archiving.

DANGER? DANGER! YOUR QUICKBOOKS FILE MAY IMPLODE

As I mention in my free guide titled "Danger? Danger! Your QuickBooks File May Implode", one of the options to consider to make it smaller and more manageable is the process of archiving the information. This process is something you can choose to do yourself, or turn to an outside company to handle it for you.

Some refer to this process as condensing the file. I've heard others call it "smashing the file down".

However you may refer to it, the end result is the same - a decrease in the size of your QuickBooks company/data file.

A HOW TO GUIDE ON THE CONDENSING/ARCHIVING PROCESS IN QUICKBOOKS

Many people find they need to do a condense on their QuickBooks file as it is simply too big for itself.

However, about two clicks into the process if they try it themselves, they get nervous and intimidated by the options that appear.

To help eliminate those concerns, I have created a new guide that walks you through this process - step-by-step.

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HOW TO / WHEN TO / WHY TO CONDENSE YOUR QUICKBOOKS FILE

If you find that your QuickBooks file "needs a shrink", this guide is the solution for you. It provides you with these critical insights:

  • Learn why and when to condense a QuickBooks Company File.
  • Protect your file and prepare for the condensing process.
  • Get exact, simplified instructions for condensing the file with no headaches!
  • Before you “click” condense, learn what a “white screen” means and other important details.
  • Know how to crosscheck and verify the condense file.
  • Much more...

Learn more about "Why To...When To...How To...Condense Your Company File" now...

 

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Easily Collapse Specific Sections of Reports in QuickBooks

There is a feature inside QuickBooks reports that many businesses are not familiar with, even though they see evidence of it each and every time they run a report.

While I am unsure of the technical term Intuit has assigned to this feature, I'll refer to it as the "collapse" arrow. By clicking this arrow on or off, you have the ability to control just how much detail shows up in your reports.

For this example, we'll use the Profit and Loss Standard (Reports > Company and Financial > Profit and Loss Standard) and focus on the Cost of Goods Sold section to show you exactly what I am referring to.

This first screen shot shows the report as it looks when it is first created - the expanded view showing all the accounts and balances:

Now, I will click the arrowhead - here is what this section of the report now looks like:

See how the "Job Expenses" section of the report has been collapsed down to one number?

This is a great way to get your reports to look just like you want them to!

Just in case you are not seeing the arrowhead above, it means you are using a version of QuickBooks prior to 2013. The feature first became available in QuickBooks 2013.

Pretty handy, eh?

ADDITIONAL RESOURCES...

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Understanding the PLUS versions of QuickBooks Pro and Premier

My sincere hope is that you can avoid the situation one unfortunate business shared with me recently.

Here is the sad story...

"I am the City Secretary for a very small city. I am the only city employee. We do not use Payroll, Credit cards or create sales receipts or invoices. We only enter budget, record deposits, write checks, reconcile and print reports.

In 2013 our auditor advised us to get QuickBooks instead of Quicken. We ordered it through Dell at the same time we purchased a new computer. We had a lot of trouble converting the data from Quicken 2012 to QuickBooks 2012, it took months for them to get it right. But they informed me that I had to purchase the annual support plan for them to continue to help. So we did, and they upgraded me to QB Pro Plus 2013. Then when I called back for some support this year they upgraded me to QB Pro Plus 2014.

A couple of months ago I received email and a call concerning my annual support payment. Honestly, I did not plan on subscribing every year I only wanted to get all the kinks worked out. It is very difficult to understand the foreign accent so I do not feel like I am receiving the information I need. They said if we do not purchase the annual support plan that we would not be able to use our QB. I received another email today stating that my credit card would be automatically charged on Jan 8 for $299.95 plus tax for my annual subscription to QB Plus. I am confused and would love it if you could clear this up for me.

I purchased QB so why wouldn't I be able to use it if I do not want their annual support plan? I don't know whether we need to continue with the support plan or cancel and subscribe again in a year or so, and what impact that will have on the functioning of my software? What would you recommend?"

THE PLUS VERSIONS OF QUICKBOOKS PRO AND PREMIER - UNDERSTAND WHAT YOU ARE BUYING!

The following screen shot of what you would see when purchasing QuickBooks Premier (same goes for QuickBooks Pro) will help you visualize things a bit better:

The left hand side of the screen is showing the "PLUS" option. The right hand side is showing the traditional "buy it once" purchasing method.

It is essential to understand that the PLUS version is a fee that MUST be paid EACH year. If you don't pay, the QuickBooks program doesn't work. It is that simple.

As you can see in the graphic above, the PLUS package also includes support, data backups and upgrades. This means that you automatically get the latest edition of QuickBooks (i.e. QuickBooks 2016) when it is released, since you are paying for that upgrade as part of your annual PLUS subscription package.

Keep in mind that you are still subject to the "3 year support" rule from Intuit if you opt for the traditional "buy it once" option. However, you are not making a payment to Intuit EACH year with the traditional "buy it once" option.

QUICKBOOKS ENTERPRISE IS SUBSCRIPTION ONLY NOW

The Pro and Premier versions of QuickBooks are available in both the PLUS and "buy it once" options as of this posting (though I expect to see the "buy it once" concept fade into the distance sooner rather than later).

The same cannot be said for the Enterprise version of QuickBooks. As of October 2014, the only way to purchase QuickBooks Enterprise is via an annual subscription. No ifs, ands, or buts. Subscription only for QuickBooks Enterprise.

YOUR QUICKBOOKS DATA IS ALWAYS YOURS

Whether you opt for the traditional "buy it once", the PLUS subscription option for QuickBooks Pro and Premier, or if you have a subscription for QuickBooks Enterprise, your QuickBooks database/company file that you create with all your lists and transactions in it will always be yours.

The bummer is that you need the QuickBooks software to access your QuickBooks database/company file. So, make sure to budget accordingly for an annual payment if you choose the PLUS option for QuickBooks Pro or Premier!

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Do You Use the Job Profitability Summary Report in QuickBooks?

If you are running jobs and projects on a regular basis, understanding your gross margin dollars and gross margin percentage on those jobs is a critical key to your success.

However, if you run the Job Profitability Summary report in QuickBooks (via Reports > Jobs, Time and Mileage), all you see is the total revenue, total cost, and gross margin dollars ($ Diff) for the job on the report, as shown below:

ALERT - ADDING THE % DIFFERENCE DOESN'T PROVIDE GROSS MARGIN PERCENT AS YOU MIGHT THINK

With just two clicks, you have the ability to add a "% Diff" column to this report.

  • Run the same report as above
  • Click the "Customize Report" button
  • Click the % Difference check box on the "Display" tab

Here is how the report looks now:

I would think the "% Diff" column represents the gross margin % of the job. It doesn't appear to do that.

In the "family room" job above, I would figure the gross margin % at 29.7% (profit of $911 / revenue of $3,061). QuickBooks is showing 42.4%, which is the profit of $911 / the cost of $2,150.

Does this seem a bit odd to you? Sure does to me!

Am I missing something here?

If you want to see the calculation of gross margin %, looks like the Job Profitability Report needs to be exported to Excel for additional calculations.

GET MORE TIPS LIKE THIS...

Be sure to grab a copy of my "27 Power Tips Every QuickBooks User Should Know" guide for more ideas on how to get the most out of your QuickBooks.

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Does This Bug You About QuickBooks Too?

Dear QuickBooks:

How come I don't have the ability to pick and choose from a list of e-mail addresses when sending forms such as invoices, purchase orders, etc?

My only options seem to be the "main e-mail" or the "CC e-mail" when it comes to e-mailing forms? Is that right?

You even went so far as to give me lots of space for different contacts and the ability to add a lot of contact e-mail addresses (if you're not seeing the window below, you're using a version of QuickBooks before 2013):

But yet I can't find anywhere to pull these addresses into the transaction or form that needs to be e-mailed.

Maybe we'll see this in QuickBooks 2016?

Here's hoping...

Scott Gregory


DO YOU DESIRE THIS FUNCTIONALITY TOO?

If so, immediately head to the Help option in your menu bar, click Send Feedback Online, then Product Suggestion. Let your feelings be known too.

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Using Custom Fields in QuickBooks

If you use QuickBooks Pro, Premier or Enterprise, you have the ability to add custom fields that can be used in various places to track details unique to your business.

In addition, there are some key differences in how the custom fields function in Pro/Premier vs. how they work in Enterprise.

My video below gives you an introduction and comparison on these key topics so you can put custom fields to work within your QuickBooks (click here for the video also):

 

NEED THE EXTRA FUNCTIONALITY THAT QUICKBOOKS ENTERPRISE OFFERS?

Be sure to visit my QuickBooks Enterprise resource center to discover even more functionality within the Enterprise edition and to save 20% on your annual subscription price.

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Time Tracking Software that Connects to QuickBooks

If your business is looking for mobile timekeeping, ways to streamline the time tracking and reporting process, or searching for time tracking software that connects to QuickBooks, TSheets is for you.

Having recently joined their TSheets Pro program, I wanted to share some information about this product with you.

MULTIPLE WAYS TO CAPTURE TIME

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?

But that is just the beginning...

JOB TRACKING AND PTO/VACATION TRACKING IS BUILT IN

TSheets provides the ability for you to capture this essential information when it comes to your jobs and projects:

  • Where employees are working
  • What projects they are working on
  • How long they have been working on those projects

In addition, the software provides a "Who's Working" button that shows which of your employees are clocked in and working in real time.

Need Paid Time Off (PTO) and/or vacation tracking? You're covered there too.

THE REPORTS YOU NEED TO HAVE

TSheets offers you a wide variety of reports to help you manage, control, and streamline your timekeeping and payroll reporting processes.

These reports include:

  • Real time report
  • Payroll report
  • Approvals report
  • Project/job report
  • Audit trail
  • Data export report

EASILY CONNECTS TO YOUR QUICKBOOKS AND OTHER SOFTWARE

TSheets offers connections to the following:

  • QuickBooks Pro, Premier and Enterprise (QuickBooks "desktop" versions)
  • QuickBooks Online (sorry, no connection to QuickBooks for the Mac)
  • Zen Payroll
  • Zendesk
  • Other payroll solutions such as Paychex, ADP and others (one-time fee applies)

For those that want to write their own software connections, TSheets also offers an open API to make the process seamless.

14 DAY FREE TRIAL AND PROMO CODE

It is important to know that the TSheets package gets high marks in the Intuit App Center - a 5 star (highest) rating to be exact!

If you'd like to take a closer look at how TSheets can help take the pain out of the timetracking and payroll areas of your business, take advantage of their 14 day free trial

Like what you see? Use promo code: BLASACCTG and save 10% off the subscription price of TSheets.

SHARE YOUR THOUGHTS

Currently using TSheets? Feel free to share your experience with it in the comments section below (or click here to access the blog post) - thanks!

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27 Power Tips Every QuickBooks User Should Know

Do you really want to spend MORE time on your accounting and QuickBooks?

Didn't think so...

If you like the idea of getting more done with QuickBooks in less time then you'll love my new guide - "27 Power Tips Every QuickBooks User Should Know"

27-Tips-Cover-Open-SpreadInside the covers I share some of the best and helpful tips and tricks I have discovered in QuickBooks over the last fifteen years.

Read more about "27 Power Tips Every QuickBooks User Should Know"....

 

Please note: This guide was written for those using the US versions of QuickBooks Pro, Premier or Enterprise software. It is not designed for those using the Online, Mac or international editions of QuickBooks.

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The Income Tracker "Dashboard" for QuickBooks

A great new tool called the Income Tracker has been introduced in QuickBooks 2014.

This little gem can help you get a "dashboard view" of your open estimates, sales orders and invoices - all in one handy place.

In addition, the Income Tracker will allow you to do a number of "batch options" such as printing or e-mailing invoices.

My YouTube video offers a deeper look at how the Income Tracker works. Take a quick look...

 

Remember, you can always save 20% on your QuickBooks upgrade at my web site!

 

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Does QuickBooks Have Multi-Location/Multi-Warehouse Tracking for Inventory?

If your business has the need to track inventory in multiple locations or multiple warehouses, you'll need to look beyond the core functionality of QuickBooks to obtain it.

The Pro, Premier and Enterprise versions all have the ability to track inventory of various types, but if that inventory isn't centralized, you'll need some help to keep score of how much is located in each location.

OPTIONS FOR MULTI-LOCATION/MULTI-WAREHOUSE INVENTORY TRACKING IN QUICKBOOKS

Currently, there are a number of solutions available to you. The right choice for your business depends on a number of things, including: your budget, functionality that may be needed beyond multi-location (i.e. you need barcoding too), cloud vs. desktop solution, how well QuickBooks tracks your inventory needs and other considerations.

Please review the options below for more details:

 

NEED HELP WITH INVENTORY IN YOUR QUICKBOOKS?

Take advantage of my thirty years of accounting, inventory and QuickBooks experience and put them to work helping resolve your concerns. Contact me today to arrange a consultation on your QuickBooks.

RELATED INFORMATION

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