99 posts categorized "QuickBooks Reports"

QuickBooks Report Filter Enhancements

If you find yourself using the filter option while working with QuickBooks reports, you'll like this new feature (first appeared in QuickBooks 2015 products):

Check out this screen shot for more details:

Report Filter Updates

Note there is:

  • A new search box to quickly locate a filter
  • An alphabetic sort in the available filter options (finally!)

Sometimes, it's the little things that help, and this would be one of those...



What a genius idea! For Dummies book series tackles sales tax

Repost from Avalara.com

Life lessons. They’re never ending. There’s the stuff that you’d like to learn like paddle boarding, pasta rolling, conversational Spanish, and there’s the stuff that you have to learn, like web design, drywall hanging, and programming the DVR. We’re guessing sales tax falls into the latter category. Because, let’s face it, unless you’re a member of Mensa (or a masochist), sales tax is hard. And boring.

But now it doesn’t have to be. Avalara wrote the book on making sales tax easy. No seriously, we did. Okay, we had a little help on the “easy” part from the folks at For Dummies. Yes! That’s right; those massively popular bright yellow and black books that that offer useful instruction on, well, everything.

Odds are you’re familiar with For Dummies. Hard not to be, with more than 1,800 titles to choose from on everything from sushi to sewing to search engines and now (with Avalara’s help) sales tax.


The beauty of these DIY guides is that they take topics that are inherently overwhelming to most of us and condense them down into something digestible. Who doesn’t love that? Sales & Use Tax Compliance for Dummies is a 49-page powerhouse of plain speak on everything sales tax from understanding nexus (the obligation to collect sales tax based on sales activities) to product taxability to proving tax exemption to registration and returns filing. There’s helpful tips to avoid costly mistakes that could led to an audit and practical reasons to consider automated tax software to make compliance easier to manage.

It’s a simple, straightforward look at a not-so-simple problem and a primer on why getting sales tax right is so important—and so hard to do on your own. There’s counsel for businesses of all types and sizes on how to make this process easier and business cases for tax-decisioning software that works right in the financial systems you already use in your business—from QuickBooks for smaller businesses to ERP or ecommerce systems for larger companies with more complex selling structures.

It’s a quick read (and a must read)! Download your free copy of Sales & Use Tax Compliance for Dummies.

Download Now


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.


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!




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:


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.




Adding Subtotals to Invoices, Sales Orders, Quotes, and Purchase Orders in QuickBooks

The Enterprise version of QuickBooks (starting with the 2015 version) brings a very helpful new feature to you...

You now have the ability to add subtotals to the following columns on invoices, sales orders, quotes and purchase orders in QuickBooks:

  • Amount
  • Quantity
  • Price
  • Cost

As a special bonus, you can add a subtotal to custom fields that you have created your items as well.


Head over to your items list (Lists > Item List), click the Item button at the bottom, then click New.

From the dropdown list that appears, choose Subtotal.

Give this subtotal a name and choose what you would like to subtotal from the list that appears. Here is an example screenshot:

Subtotal Item


For many businesses, this new feature will save a bundle of time and help avoid tedious manual calculations.

In the event your business needs even more calculations to be done within various QuickBooks transactions, you will want to check into the FormCalc add-on for QuickBooks.




It's Not You - QuickBooks Does Not Allow A/R and A/P in the Same Journal Entry

Ever get frustrated trying to create a journal entry to both accounts receivable and accounts payable at the same time in QuickBooks?

Can't do it.

No matter how hard you try or how many times you say please.

For whatever reason, the journal entry screen can only handle one A/R or one A/P account each time.

It's not you...




New Feature in QuickBooks 2015: The Insights Dashboard

A new feature in QuickBooks 2015 called "Insights" is proving to be quite popular with those looking for a quick and easy "dashboard" view of their business.

The Insights screen sits just off the home screen, and looks like this:

Insights Tab Snapshot


The following snippets of information can be turned on and off via the "gear" icon in the upper right hand corner of the screen:

  • Profit and loss
  • Previous year income comparison
  • Top customers by sales
  • Income and expense trend
  • Business growth
  • Net profit margin
  • Previous year expense comparison

Even better, all of the graphical elements that appear on the Insights screen have full drill-down capabilities so you can see the specific details behind a value.

You can also print the contents of the Insight screen or save it as a PDF as well.

If you are so inclined, you can even launch the create invoice or enter bills screens directly from the Insights page.




Avoid This Common Mistake with Inventory Adjustments in QuickBooks

Ah yes...

Inventory - the ongoing pain in the side (or elsewhere) for many businesses.

Here is a simple trick to avoid making the pain any worse in your business when it comes to making adjustments to your inventory in QuickBooks...

  • Do NOT use the "Inventory Asset" account (or whatever balance sheet account is set up to track inventory) on the Adjust Inventory screen. I repeat - do NOT.

Let me explain...

When you are in the Adjust Qty/Value screen of QuickBooks, the inventory asset account is already being impacted by the entry you make. If you set up your adjustment screen like this example:

You will be both increasing and decreasing the value of your inventory asset account for the value of these 605 items that are being adjusted. The screen itself is already adjusting the inventory account by default, and by you selecting the "Inventory Asset" account in the adjustment account box, you are adjusting the inventory account all over again.

So in effect, you have increased and decreased the inventory asset account for a net result of $0. Bad idea...


Same entry as above, with a different adjustment account:

In this entry, since the count of the item went down, the value of the inventory asset account will decrease automatically (what we want) and you will then be recording the value of this decrease into a new account called "inventory adjustments" which I recommend setting up as a cost of goods sold type of account.

All is well and your accountant will be smiling!




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?




Save any invoice, quote, sales order, or report as a PDF in QuickBooks

Tucked away inside the File command on the QuickBooks menu bar is an extremely helpful feature you may not have noticed...

....Save as PDF as shown in the screen shot below:

This feature allows you to save any form (ex: quote, sales order, invoice, purchase order, etc.) or any report generated in QuickBooks as a PDF document.

Simply open the form or report, then click File > Save as PDF and save the document on your local hard drive or a shared network drive for easy access!