Archive for July, 2009

QuickBooks and MS Excel – Analyzing your product lines, which product is making you the most money?

July 29, 2009 1 comment
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A few months back on April 15, 2009 we recorded a web cast on how to track, manage, and update your inventory in QuickBooks using a template I created in Microsoft Excel. Once your inventory is updated and adjusted properly such that you have accurate balances in your inventory accounts and as long as you know you have updated your books to reflect all purchases and sales to date then it is time to analyze your inventory to see which products are generating the most profit. If something is selling well and your gross profit % is low then you are not getting the most out of your product. You may also find that you have a product with a high profit margin that isn’t selling as well as it could. This is all valuable information that can and should be used to manage your business well and make it as profitable as possible while also maintaining balance with customer satisfaction. In other words making sure that you are charging a price for your product that is fair and that your customers will feel represents a very good deal on what they’ve purchased.

In this web cast:

  • First we’ll show you how to run the Sales By item Summary report in QuickBooks
  • Then we’ll show you how to export that report to Microsoft Excel
  • Once the report is in Excel we will show you how to re-format the report such that it is easy to read and easy to sort.
  • Finally we’ll show you how to perform 2 sorts that will show you very valuable information about your products.

When we are asked to work with companies directly we look at these details to find ways to make your company more profitable. This kind of analysis cannot be performed without first having the books complete, accurate, and current. Once all of this is in place, then we can not only do this analysis, but we can use the information to set goals about where we want to focus our efforts in terms of future product sales. We can determine which products are worth making more efforts to sell and based on that we can develop projections aimed at setting aside marketing dollars to be invested into promotions of these products. When we have a great handle on all of our resources it becomes easy to analyze and plan the growth of the company.


Call us today at (866) 945-8070 for a free phone consultation.



Or post a comment on our blog if you simply have a question about this web cast.


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QuickBooks Inventory – Managing & Tracking your inventory

July 26, 2009 Leave a comment


April 15, 2009

Managing and tracking your inventory

Please enjoy the web cast! 

View The Web Cast |

When we sell products it is important to understand the dynamics surrounding inventory and particularly how we use QuickBooks for inventory management purposes. QuickBooks average costs inventory and sometimes that is not the most accurate way to value the inventory we have on hand. This web cast goes over a template I designed in MS Excel that lets you take an inventory report from QuickBooks and export it to my template. 

There are just a few steps involved in managing and updating your inventory using this template:

  1. Run the item listing report in QuickBooks.
  2. Customize the report to get only the columns you need and re-order them to match the template.
  3. Export the report to Excel and copy and paste the exported report into the template.
  4. Update your Inventory.
  5. Use your ALT + TAB and Copy & Paste to post your Inventory adjustment in QuickBooks.
  6. Analyze your inventory statistics in the template.

Inventory is one of the more complex areas when it comes to running a business and it is also the part of your business that carries the greatest potential weakness in terms of internal controls. That is to say that people can walk out of your warehouse with inventory, inventory can sit on the shelves and become obsolete, and it can be forgotten as new products are developed and brought out. The point is that it becomes very important to put a great deal of emphasis on this area.

Keeping on top of your inventory will help you maximize your profits by minimizing waste and theft. By tracking this on a regular basis you will be clued in to the situations where something is wrong. For example if you have one particular product that is really popular and you keep taking inventory resulting in an adjustment to that product, this might indicate that someone is walking out with the inventory. Just knowing that you are tracking this closely will be a deterrent to employees to take things so make sure you involve them in the inventory taking process.

We also suggest using a special “Cost of Goods Sold Account called “Inventory Adjustments” (very original I know). This is so that you can run your profit & loss regularly and see what is happening with this account. Does it keep increasing? Again an indication there may be a problem worth looking into.

Analyzing the products in this template that we use will help you gain insight into which products are the most profitable in terms of Gross profit, and also which ones are actually generating the most profit based on volume. Check back for a follow up web cast in which we will show you how to run a report that lets you perform this analysis on sales volume which you will find invaluable. Coming on Wednesday July 29, 2009.

Please enjoy the web cast

View The Web Cast |

QuickBooks For Personal Finances

July 15, 2009 Leave a comment

This is the topic of today’s web cast.

QuickBooks is great software for businesses and because it is great for businesses, it is also great for personal finances. Quicken is great, but I find that QuickBooks just does more and it does it more easily. Also when it comes to managing personal finances, it is really not any different than business finances in the most generic terms. That is to say that in both cases we are looking at income vs. expenses as well as debt and cash flow management. There are some things a business has that personal finances don’t, Great, we’ll leave those out. There isn’t anything I can think of on a personal set of books that wouldn’t exist in some form at least potentially on a business. Maybe medical expenses, but some businesses do pay medical expenses and even if they don’t they pay Health insurance. So at this level the concept is the same – they’re expenses, there are just different kinds and accordingly, different ways of categorizing them.

Watch the Web Cast Here:

Steps To Success For Bookkeepers

July 13, 2009 1 comment

As a company who has picked up where many bookkeepers have left off, we have found and corrected many common mistakes bookkeepers make. Bookkeepers are good people and some need some additional training in order to be become really good bookkeepers. So if you are an experienced bookkeeper then this class is for you! We can help you take your knowledge and the quality of your work to the next level. Since QuickBooks is the most commonly used software for accounting and bookkeeping we will demonstrate everything using QuickBooks. We will also be going over the fundamentals of accounting and bookkeeping. We will help you Understand your debits and credits so that you can understand the impact that it has on the financial statements when you post transactions in QuickBooks. Click on the image to watch a 2 minute presentation and find out what this is all about.

Categories: QuickBooks Tutorials

Customizing Your Invoice


This week’s Web cast is on QuickBooks and how to customize your invoice template in QuickBooks. There are many options available (especially in the PC version) as far as customizing your invoice goes. In this web cast we demonstrate how you can download a template and change things to make it your own. You can also design from a blank and use the templates online to get ideas about how to do it. The key to this is balancing it out between having a gorgeous invoice template in QuickBooks and making sure that the end user of your document can get the information they need very Quickly. The key components are Invoice Number, Invoice Date, Invoice Amount, and Invoice Due Date. If the person on the other end (very likely an Accounts Payable Clerk) cannot find this information quickly they will likely put it to the side and enter all of the other invoices first. I know this because I used to do that when I had a large pile of invoices to enter. They key to staying at the top of the pile and getting your invoice entered is making sure the information is readily available, easy to find, and easy to read.

Watch the Web Cast Here: QuickBooks – Customizing Your Invoice Template

Steps To Success



Vol. 3
July 2009


Happy Independence Day from Nerd Enterprises, inc.


Call us today (866) 945-8070 for information on this month’s live webinar.

I will be expanding in great detail on what you are about to read in the next section and I am offering several times to accommodate schedules and time zones.


Click here for registration: Steps To Success



We experience true independence as individuals when we identify with similarities and respect people’s differences.


There are two important forms of independence that I think about when I think about my life and how I have developed as a person today – financial independence and personal independence. I began to find personal independence when I started to learn to look for the similarities in people while also respecting their differences. I began to feel financial independence and still more personal independence when I started my own business. People have read this on my blog and heard me share about my experience in person. I came to California when I was 28 and had nothing. My net worth was definitely in the red financially as well as spiritually. I know this part of my story is not unique. What is also not totally unique, but definitely uncommon in my experience was that I was not willing to settle. I kept pressing on and today I have a wife, 3 dogs, a home, and a nice 6 figure business and growing. I did this by learning to develop a very positive mental attitude and by not letting go of my instinct that I was not going down without a fight. I was definitely down when I came to California. Then I learned it wasn’t about “fighting”. It was about visualizing and realizing who I wanted to become. The great part was I did not need to concern myself with how I would get there. I just had to know I would get there. Today I still know where I want to be and I don’t care how it happens. I just know it will happen. I cannot fail. This is the attitude that is necessary for true independence on all levels and below are some steps describing how I have done it so far.


I want to show you how to work with what you currently have doing what you presently do in order to build more of the life you want for yourself. I’ve learned that at any given moment the real “Secret” to life is based on finding out who I really am and following that up with a sincere attempt to become what I’ve always wanted to be. Too many seminars give you the concept alone and leave you wondering about the implementation. This is by design so you have to sign up for more seminars. I am going to give you the application – in other words how you can actually implement these ideas.

  1. Save money – Easier said than done, right? When we get money in, when that paycheck comes or that big deal closes it’s tempting to start thinking about all of the things I’ve been waiting to get just until I had some money. Then we go and spend it all and wonder how we got back in the same position again. I’ll expand upon this and show you some simple things that my wife and I do (some of them her ideas, not mine) to save money.
  2. Get yourself out there on the web – use free blogs and offer your services. Find a skill and offer it on the web – even if you’re employed full time. See if you like the entrepreneurial life. This will also hedge you in the event you are “down-sized”. By doing this you can bring in an extra stream of income. Spend a lot of time thinking about this, just in concept. You will attract the things to your life that will bring about the desired outcome – whatever that is. If you already have a business with a presence on the web – great! I’ll show you briefly how to begin to get more out of if and I can refer you to the people who can really help you take this to a new level!
  3. Write – even if you think you are not a good writer, writing helps make the thought process flow. You might find out you are a better writer than you imagined. As you write ideas will develop and your thoughts will be focused on what you choose to write about. Write about the kind of life you want to have. As you are writing you can imagine what it will feel like to have that life. You’ll find you get a good positive feeling right now based on what you want for yourself. That should tell you that you can have that feeling right now. The universe will catch up to your feelings, and your feelings are a reflection of your thoughts. So if you think about the life you want – whether it’s more time with your loved ones, or more money or both, your thoughts will bring about the feelings and the feelings will attract the people and events that will bring those thoughts to reality. This is the essence of The Secret.
  4. Learn – always be willing to learn new things, don’t be afraid to. This is how we discover parts of ourselves that we never knew existed, but were always there, just waiting to come out. These things we learn give us ideas, which bring about new thoughts, which bring about new feelings of excitement. Then we go back to our web presence and incorporate these things into our representation of ourselves. Then if financial security is what we seek it comes down to looking for ways to increase income as well as managing what we have. This brings us to step 5 in Steps To Success.
  5. The often feared and ever important Budgets. There are two important types of budgets that have become important to me. Of course you know I am going to talk about the financial budget. The other one is the time budget. We have to manage our time well in order to achieve the right balance in our lives and also to make sure that we are making the most effective use of our time.


Click here for registration: Steps To Success



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