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Monthly Archives: August 2011

How to Set Your QuickBooks Point of Sale Preferences to Send Detailed Information to QuickBooks

Good Afternoon, I am finding the “help” network for QuickBooks POS to be extremely frustrating and not at all helpful. I am a bookkeeper with a client who jumped into the purchase of a small retail store. A QuickBooks “expert” sold and installed QuickBooks POS however the training was less than satisfactory. I was brought in after the face and am now trying to get everything straightened out. I cannot find anyone who can point me toward training specific to QuickBooks POS (Seattle – Everett area) nor can I find anyone who really seems to know QuickBooks POS very well. My immediate question is why does QuickBooks POS create a journal entry in QuickBooks financial?
Your preferences are probably set to send summary info to QuickBooks, which is what I also recommend so you don’t blow through the 14,500 name/list limits in QuickBooks Pro/Premier. If you want detailed info sent instead, you can change your preferences in File > Preferences > Company > Financial. If you’re using an earlier version of QuickBooks POS, Preferences are in the Edit menu. However, I wouldn’t send detailed info unless your client is using QuickBooks Enterprise. It could be a very expensive mistake.

You can also easily see what each transaction in QuickBooks POS created in QuickBooks by selecting I Want To… and then Show Financial Detail.

Also, the information in Help > Help Contents is quite good. The Contents tab is organized like a user guide. We’ve also got many free QuickBooks user guides on our website.


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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 Handle Monthly Amortization of Membership and Sponsorship Revenue in QuickBooks

Dear Ruth, I found your very helpful website when searching for QuickBooks downloads. I have a nonprofit tax client that has been using QuickBooks for more than 10 years. We are searching for an add-on that can handle monthly amortization of membership and sponsorship revenue. Do you have any experience in this area? Currently we export the sales by customer detail report, amortize the revenue by membership renewal date, and record journal entries for deferred revenue. This can be time consuming and requires someone with good bookkeeping skills to make the journal entries and reverse them in the proper period. I am registered as a ProAdvisor, but the majority of my practice is tax compliance. I would appreciate an advice you can provide.
You might want to try to use automatically generated memorized sales receipts instead:

  1. If you haven’t already, create an other current liability account called something like “deferred revenue” or “unearned revenue”.
  2. Create other charge items called something like “annual membership fee” and “sponsorship” and map them to the current liability account above.
  3. When you invoice or create a sales receipt for the prepayment, use one of the other charge items created above.
  4. Create a $0 sales receipt for the first month, using your normal revenue account with 1/12 of the fee and add a second line using the other charge item with a negative for the same amount.
  5. Memorize the sales receipt, select Automate Transaction History, Monthly and 11 for Number Remaining.

If you have other memorized transactions, you might want to consider creating a memorized Group so they’re all grouped together instead of scattered all over the 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 Get a True Customer Balance After Applying Payments but Without Recording Deposits

Hello Ruth, We have a question regarding the AR reports in QuickBooks Enterprise. Is there a way to get a true customer balance after applying payments but without recording deposits? We’re trying to send accurate reports to customers without the headache of having multiple deposit slips each day as we only do one deposit run to the bank each week. Thank you.

Payments decreases A/R, not the deposits. You should be using Invoices > Receive Payments for invoice payments. The payment will then be applied to the invoice and will be grouped into undeposited funds. When you make the deposit at the bank, go to Banking > Make Deposits and select all the payments that make up the deposit. This way your deposits in QuickBooks will match up to the deposits on your bank statement.

If you’ve been making deposits directly into the register, your payments probably haven’t been applied to your invoices. Go to Reports > Customers & Receivables > Open Invoices. If you see a bunch of payments (negative line items) on this list that aren’t actually overpayments, you need to apply the payments to the associated invoices.

If you only have a few, just open the invoices on the list that also have a payment listed and select Apply Credits. If you’ve got a lot, I’d create an External Accountant user, login as External Accountant, go to Company > Client Data Review, and select Fix Unapplied Customer Payments and Credits.


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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!

QuickBooks Enterprise Referral Program – Earn up to $800 per sale

QuickBooks Enterprise affiliate program
Do you have a family member, friend, neighbor, or colleague who’s outgrowing QuickBooks Pro or Premier or struggling with their current financial system?
Allow us to help them and we’ll reward you for your efforts.
As a business associate, you know the power of a personal referral. We would love the opportunity to show your contacts the benefits of using Intuit’s QuickBooks Enterprise Solutions.

We’ll reward you with 10% of the sales price when you refer us to a friend or colleague who purchases QuickBooks Enterprise.

We also offer discounts on products and services, making it a win-win for everyone! For instance, this month we’re offering up to $1000 off when you upgrade from any version of QuickBooks. There’s an even bigger discounts when you add Advanced Inventory.

And there appears to be exciting things in store for Advanced Inventory! This was posted on Intuit’s ProLine News Central blog last Tuesday.

Coming soon to QuickBooks® Enterprise Solutions!

It’s the best thing to happen to inventory costing since the calculator…

Want more than just average costing? Sign up today to receive exclusive updates for the new Advanced Inventory for QuickBooks® Enterprise Solutions 12.0. Be the first to know!

Don’t forget, if you buy QuickBooks Enterprise now you also automatically get 2012 once it’s released.

Call us at 800-707-0940 for more details.

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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!