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6 posts from December 2013

Building Better Business Finances: Know Your Backlog with the Open Sales Order by Customer Report

Having your finger on the pulse of open, yet unshipped orders is a metric that makes sense for many businesses.

How can QuickBooks help with that?

The open sales order report is one place to start.


The Premier and Enterprise editions of QuickBooks allow you to track sales orders (or work orders as some refer to them).

Sales orders are different than estimates/quotes in QuickBooks. Here is how I look at them:

  • Estimate/quote - a potential sale you hope to get in the future
  • Sales order - a sale that you have closed that you hope to ship in the future
  • Invoice - a sale that has shipped that you hope to get paid on in the future

Once you start using sales orders in QuickBooks, it's easy to run the report by clicking Reports > Sales > Open Sales Order by Customer report

You'll get a screen that looks like this:

The amount column represents the original value of the sales order and the open balance represents the value of the order that has not yet shipped. Scroll down to the bottom of the report, and the total line presents you with a list of your order backlog in $ at a glance.

In addition, you can customize this report to show you the estimated ship date of each order as well to quickly and easily see what order is due when!





The New "Max" Field for Inventory in QuickBooks Enterprise 2014

If you track and manage inventory in QuickBooks, you likely work with some min and max parameters when it comes to stocking levels.

For years, QuickBooks has had a "min" level, which they called the reorder point. But it didn't have a "max" field.

Until now..

With the release of QuickBooks Enterprise 2014, you now have access to a "max" field.

This video shows you how it works:






QuickBooks: Can I Have Additional Calculations Besides Qty * Price?

What if your business needs more calculations within QuickBooks estimates, sales orders, invoices or other forms than simply quantity * price? Say you want a total quantity of all items shipped, need the ability to sort the content of an invoice, etc.

Great news!

You have a couple of options that won't bust the checkbook...

FormCalc -this add-on works with QuickBooks estimates/quotes, sales orders, invoices, sales receipts, purchase orders and credit memos. You set up the calculations as desired within these forms and quickly use them again and again with a quick keystroke or two. You don't have to reprogram every time you want a calculation to be done.

CCRQInvoice - this add-on works with QuickBooks estimates/quotes, sales orders and invoices. You can calculate some columns, add total quantities, sort by various columns within the form (i.e. item name/number) and more.

Both of these add-ons have demo/trial copies for you to download and test so you can try before you buy.

If you are already working with either of these programs in your business, feel free to share your experiences with them in the comments box below.





QuickBooks Alert: 1099-MISC Printing Issue in Older Versions of QuickBooks

Who is affected by this alert?

  • Users of QuickBooks Pro/Premier/Enterprise/Mac versions 2010 or prior that use QuickBooks to print their 1099-MISC forms at the end of the year. If you are using ANY version of QuickBooks from 2011 or newer, you are NOT impacted by this.

Summary of the alert...

Background on IRS Change

In February 2013, the IRS announced it has made changes to the 1099-MISC tax form for tax year 2013 (as well as the related 1096 form).

  • The layout of the 1099-MISC form was changed, and various sizes, locations and formats of a number of boxes were impacted.
  • Forms are now required to accept foreign countries for both the filer and the recipients.

Due to these IRS changes, customers on QuickBooks 2010 and earlier will no longer be able print their 1099s directly from their current version of QuickBooks, as there will be 1) alignment issues due to the new fields and 2) incomplete foreign country data.

Options for Customers

Impacted customers have two options:

  • OPTION 1: Complete the 1099-MISC forms by hand and submit them to the IRS. The IRS will accept handwritten forms. Customers can go to http://www.irs.gov/pub/irs-pdf/i1099gi.pdf, section G for IRS guidelines and details on filing by hand.
  • OPTION 2: Upgrade to QuickBooks 2014. Upgrading to QuickBooks 2014 will help save customers time by allowing them to print 1099s directly from QuickBooks, with no alignment issues. Their QuickBooks data will print directly from QuickBooks 2014 onto the correct section of their 1099 forms.

Need more details? - see the QuickBooks support article.

If you are impacted by this change, you can save 20% on your upgrade to QuickBooks 2014 at my web site.



QuickBooks Enterprise 2014: Where Used in Assemblies - Great New Feature

For manufacturers using QuickBooks, the new "where used in assemblies" feature found in QuickBooks Enterprise 2014 will be a great new addition to your toolkit.

Take a quick tour of this new feature and learn more with my YouTube video:






Working Too Many Evenings and Weekends?

If you love owning or running a small business, but are growing weary of the insanity it can cause, you'll be interested in the concept of lifecycle marketing.

Infusionsoft has put together a great series that will show you how to own your time and have a thriving business as well.

This video series is completely on-demand - view it on your schedule!