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Monthly Archives: May 2011

How to Adjust Incorrect Inventory in QuickBooks and QuickBooks POS

Thanks for your tips. My client is a tire shop, and they have never received from vendors, they “prefer” to adjust the quantity when they purchase tires. This has created a firestorm of adjustment journal entries into QuickBooks, and a skewed P&L, as QuickBooks POS thinks they constantly find tires they didn’t have to pay for. They claim it takes too long to do the data entry to receive from a vendor. To my mind they are defeating the very process that creates accurate accounting, and I can’t figure out where to start.
They must receive their inventory before selling it.

Adjusting the quantity does not adjust the average cost, which means all their gross margin reports in QuickBooks POS are inaccurate, not to mention their financials in QuickBooks. They might be adjusting cost as well, but it’s unlikely they’re doing it correctly. It’s also extremely unlikely that both their inventory asset and COGS numbers in QuickBooks are correct even if they are in QuickBooks POS (which is also unlikely). 

The only way they could be is if they did a full inventory count, manually calculated the average cost of each item, and did both a Qty and Cost adjustment.  Since they say receiving items takes too long, they probably haven’t take the time to adjust their inventory correctly either.

In addition, if they allow their inventory to go negative in QuickBooks POS all sorts of whacky inventory and COGS information is often sent to QuickBooks, causing inventory and COGS balances to no longer  match up in the two systems and requiring yet another journal entry adjustment.

Honestly, it takes far less time to simply receive the inventory in QuickBooks POS correctly than it does to make all the necessary adjustments that are required if they don’t.


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This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.

Ruth Perryman - QuickBooks Specialist Written by +Ruth Perryman

Ruth is the an Intuit Premier Reseller that offers great deals on QuickBooks POS and QuickBooks Enterprise. She has provided expert QuickBooks help to thousands of businesses all over the world since 1996.

Visit our webstore for great deals on QuickBooks and QuickBooks POS!

How to Delete Memorized Reports in QuickBooks

Once again, I have a need for some QuickBooks advice, a question I can’t find the answer to on-line: How do you delete a memorized report from the memorized report list? I’m betting you know the answer off the top of your head! I hope you’re doing well, and thanks!
You can delete memorized reports at Reports > Memorized Reports> Memorized Report List.


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This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.

Ruth Perryman - QuickBooks Specialist Written by +Ruth Perryman

Ruth is the an Intuit Premier Reseller that offers great deals on QuickBooks POS and QuickBooks Enterprise. She has provided expert QuickBooks help to thousands of businesses all over the world since 1996.

Visit our webstore for great deals on QuickBooks and QuickBooks POS!

How to Fix QuickBooks Payroll E-Pay to California EDD

Can you please help me fix my QuickBooks to e-pay EDD again? I’ve made payment for over a year and they went through just fine, but since March or April the EDD payment for UI & ETT has not gone through to EDD.
On March 1st, the EDD expanded their e-services for employers which required you to re-enroll. Since your EDD e-pay stopped working in March, I’m pretty sure this is your problem. Here’s a link tto more information – Important EDD Payroll Tax Changes in 2011


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This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.

Ruth Perryman - QuickBooks Specialist Written by +Ruth Perryman

Ruth is the an Intuit Premier Reseller that offers great deals on QuickBooks POS and QuickBooks Enterprise. She has provided expert QuickBooks help to thousands of businesses all over the world since 1996.

Visit our webstore for great deals on QuickBooks and QuickBooks POS!

How to Fix Rejected Transactions in QuickBooks Point of Sale

I have a client that owns a tire store (retail), but they also have a family business recycling used tires. They used QuickBooks POS V6 for three years, but not QuickBooks. So I installed QuickBooks POS V10 (cause they wanted a 2nd seat) onto their existing (2) Vista machines. Then I installed QuickBooks 2010 onto both machines (they already had one copy, I picked up an additional off Ebay). I got QuickBooks POS V10 to see the QuickBooks file, and got the data exchange to work. And a lot of 2007-2010 transactions, plus the 2011 transactions I wanted. I made the decision when starting in March 2011, that I was going to JE out anything previous to 1/1/11.  So each time I perform a data transfer, there is a message that there were errors, and looking in the transfer log I see the same two 2008 transactions that it didn’t like.  How do I fix this?
What you have to do here is trick QuickBooks POS into thinking the exchange worked and then manually enter the rejected transaction in QuickBooks (or maybe not in your case). In QuickBooks POS, open the transaction, select I Want To… and choose Show Financial Detail.  If the transaction hasn’t been successfully sent, there will be a check box at the bottom of the screen that says Mark this document as successfully sent. Check it (see below). Then manually enter the rejected transaction in QuickBooks.

Mark this document as successfully sent


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This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.

Ruth Perryman - QuickBooks Specialist Written by +Ruth Perryman

Ruth is the an Intuit Premier Reseller that offers great deals on QuickBooks POS and QuickBooks Enterprise. She has provided expert QuickBooks help to thousands of businesses all over the world since 1996.

Visit our webstore for great deals on QuickBooks and QuickBooks POS!