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7 posts from September 2012

Building Better Business Finances: Average Days to Pay Report in QuickBooks

The average days to pay report is a handy little gem that has been tucked into newer versions of QuickBooks.

Easily located by clicking Reports > Customers and Receivables > Average Days to Pay, you'll see a report that looks like the sample below (click the image for a larger view):

Average Days to Pay Report

This report shows the detail for each paid invoice for each customer in your QuickBooks file.

If this is too much detail, there is also an Average Days to Pay summary report in your reports listing (under Customers and Receivables) as well.

IMPORTANT NOTE: This report is calculating the "days to pay" from the date of the invoice, NOT the due date of the invoice.




One of my favorite QuickBooks shortcuts

Use this handy little trick to close an open window inside QuickBooks...

Just tap the Esc(ape) key!

No need to drag the mouse to the upper right hand corner and trying to position it just right to close the window without closing QuickBooks.

The Esc(ape) key simply closes one open window at a time.

Once you get in the habit of using the Esc(ape) key, you'll want to share this tip with your friends too!




Tips to Organize Your QuickBooks Memorized Reports

Where in the heck does QuickBooks store the master list of memorized reports?

Click Reports (in the menu bar) > Memorized Reports > Memorized Report List, and you'll discover exactly what you are looking for.

Once you discover this list (sample screen shot below):

Memorized Report Master List

you have the ability to (via the Memorized Report button in the lower left hand corner of the list):

  • Create a new memorized report group
  • Delete a memorized report or a memorized report group (you must delete the reports inside of a group before deleting the group!)
  • Edit the name of a memorized report
  • Print a list of your memorized reports
  • Re-classify a memorized report from one group to another (bonus tip: click the diamond to the left of the report name, hold down your mouse button, and drag/drop the report to the group where you want it to go)
  • Much more...

Memorized reports are a terrific features in QuickBooks. By keeping the list of memorized reports organized and functional, it will save you even more time in working with QuickBooks each day!




Learn How to Connect QuickBooks to UPS and/or FedEx Shipping Software

If you are looking for a solution to connect your QuickBooks to UPS Worldship, FedEx, USPS or Endicia, you'll want to take a look at OzLINK from OzDevelopment.

Oz Development
I'll be presenting with them on an upcoming webinar on Thursday, September 27th. During this webinar, we'll be discussing:

  • How to use the sales order fulfillment worksheet in QuickBooks
  • Selecting the right shipping options
  • Using barcode scanning to improve accuracy
  • Integrating QuickBooks with UPS WorldShip to improve efficiency

There is no charge to attend the webinar - hope to see you then!

Register Button


QuickBooks and Windows 8

As of the date of this post, here is the word from QuickBooks support regarding the compatibility of QuickBooks and Windows 8...

"Any version of QuickBooks prior to 2013 is not supported on Windows 8. QuickBooks 2013 (when released), will be supported once a compatibility patch is issued to registered users. No date has been provided for the release of this patch."

UPDATE: QuickBooks 2013 is here!

Unless you really like to go out there on the "bleeding edge" of software, I would not even attempt to make an older version of QuickBooks work on Windows 8. You may get lucky. Then again, you may get an ongoing migraine headache too...

What are you hearing about QuickBooks and Windows 8? Is it different than what I have been told by the QuickBooks support group?

Drop a comment in the box below - we'd love to know!




Importing Data from Quicken to QuickBooks. Should You?

So you have decided to make the move from Quicken to QuickBooks...

And you read something about being able to import your Quicken data into QuickBooks.

Here are a few thoughts to share with you on this idea:

  • QuickBooks is far better for tracking business finances, so making the move is usually a very good idea. (Quicken is far better for tracking personal finances than QuickBooks for sure!)
  • When you begin the setup process in QuickBooks, you will see that there is indeed an option to import your data from Quicken (exact wording and location of this options varies by version of QuickBooks being used). A sample screen shot is below
    Quicken to QuickBooks


Based on my experiences over the years in converting Quicken data into QuickBooks, my advice is...


The conversion process does a number of things very nicely. However, it makes a mess of enough things that you may be spending an inordinate amount of time after the conversion sorting out, fixing up and deleting before your information is ready for daily usage.

My recommendation is to skip the Quicken to QuickBooks conversion tool and build your QuickBooks data file from scratch. It may take a bit longer in the beginning to get it done, but I think you'll be happier in the long run that you opted for this approach.

Remember, you'll always be able to access your Quicken if you need to look up some historical information, so that lessens the need to try and pull that historical information into your brand new QuickBooks file. Keep your Quicken handy for past business information and QuickBooks will be your "go to" source for current and future business information.


Have you gone through the process of converting a Quicken file into QuickBooks? How was the experience?

Please include your comments below - I look forward to them!



New QuickBooks Online Seminars: Inventory Basics / Working with Assemblies

Please join me for one or both of these upcoming educational sessions (both will be recorded in case you can't make the live event):

  • QuickBooks Inventory Basics - Dig in and get a much better understanding of how to work with inventory and non-inventory parts within QuickBooks. Discover how the "flow" of information is designed to work, from purchase order creation to invoicing. Learn how to correct inventory mistakes, how the cost system works and much, much more.
  • QuickBooks Basics for using Assemblies, Bills of Material and Groups -Avoid the confusion many businesses face when working inside these critical areas of QuickBooks. Discover how assemblies are designed to work, what you can and can't do with them, how groups differ from assemblies and so much more.

Hope to have you join us for these training sessions!