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Posts Tagged ‘QuickBooks Training’

Accountants Changes Pending

November 28, 2009 2 comments

The QuickBooks Accountant’s Copy is being used more and more often now, especially since Inuit has made substantial improvements to how it functions, and they’ve even enabled you to send it through a free service provided by intuit. In this tutorial we will show you the basics, and then if you are interested, we offer the complete accountant’s copy video tutorial solution in our learning center. In the full version we show you the complete cycle involved in sending the accountant’s copy and round trip conversions until the accountant ultimately sends the changes back and you import them.

The quick and simple screenshot based tutorial is here. After you’ve reviewed this blog post be sure and click to watch the FREE INTERACTIVE VIDEO TUTORIAL on this. We’ll take you through the steps and then invite you to learn by doing. You participate directly clicking where we’ve shown you to review what you’ve just learned. This is our newest format for video software tutorials and I think you will agree that it really does the job in terms of teaching you the material in a way that you will remember what you’ve just learned. Try the free version and see for yourself.

When you create an accountant’s copy you set a dividing date on your books. Essentially you are able to enter things subsequent to that date, and your accountant will be able to work with their “Accountant’s” copy entering and changing things prior to that date. Until the accountant’s copy is restored to your copy (i.e. the accountant’s changes are imported) your copy will show a message in the top bar that says “Accountant’s Changes Pending.”

If you want to go directly to the video tutorial (much more fun J) click this link:

FREE VERSION – THE ACCOUNTANT’S COPY – INTERACTIVE VIDEO TUTORIAL

Or go directly to purchase the FULL VERSIONThe place where you want to go whenever you are doing anything having to do with a ‘File’ in QuickBooks is of course the “File” Menu:

Note – you can also click ‘Accountant’s Copy’ and there you will see an option to ‘save file’. We review this way of doing it in the Video Tutorial.

Going about it this way you will next be presented with options for the type of backup you want to make.

Select Accountant’s Copy and then choose next.

Then you will be asked to confirm that the Accountant’s Copy is the most appropriate for your situation.

Choosing your dividing date

This is the critical part of creating the accountant’s copy. The dividing date is what will determine what you can change and what your accountant will be able to change once you send them the accountant’s copy. There are some default settings in the drop-down that you will see next, but in all likelihood you will simply want to use the custom option and enter the date manually.

Next you will browse to save the accountant’s transfer file “.QBX”. This of course is the file you are going to need to send to your accountant, so be sure and save it in a location where it will be easy to find.

One the file has been created you will get the following message:

This is when you will see the infamous message, which has raised so many questions. All kidding aside, QuickBooks lets you know when there is an accountant’s copy waiting to be returned (ie changes imported). There are only two ways to remove the ‘accountants changes pending’. One is of course to import the accountant’s changes. But what if you should decide you do not want to import the changes, or for that matter if you have no idea why the message is there?! Is there no way to remove this message and the related restriction from entering data prior to the dividing date?

Of course there is a way to remove this. Once you do there is no reversing it, so you have to be sure that you want to do this before you go through with it.

You will still be asked to confirm that you want to do this.

After you confirm you will see that the notice is gone from the QuickBooks Title Bar:

BONUS TIP – This is not covered in the video

I have had this situation happen. Let’s say you send your accountant and accountant’s copy and somehow your QuickBooks file crashes? Not to worry, the accountant’s copy can be converted to a full fledged company file “.QBW”. Of course this copy will have any changes the accountant has made, but it will of course not contain any changes you’ve made since sending the file to the accountant. Nevertheless in one case I was able to save a client from losing a ton of data by doing this in one case. Then I sent him the converted full company file and he sent me back a new accountant’s copy.

Please enjoy the free interactive video tutorial. This is the newest format for software training that we are now offering here and in our learning center.

FREE VERSION – THE ACCOUNTANT’S COPY – INTERACTIVE VIDEO TUTORIAL

Today’s Question: Saving QuickBooks for PC to QuickBooks For MAC

June 12, 2009 Leave a comment

 

Hi Seth 🙂

Since you are my go-to Qbooks guru, I wonder if you wouldn’t mind answering a personal question for me? 🙂  My freelance client wants to get his Qbooks file to his CPA who is out of state.  I tried to use YouSendIt, which would’ve worked fine except I realized the CPA is on a Mac and my client is on a PC.  Do you know of any way to make a Mac formatted Qbooks file compatible with a PC?  Is this even possible?

A CPA with a MAC. This is a first for me! I suppose we can expect to see more and more of this as time goes on. I’ve learned I need to know how to work with both. My Main IT guy here, Ed knows both MAC & PC platforms very well.

Here’s your answer:

You can save a copy for QB For MAC, and you can also copy back from MAC to PC (Round Trip). You can also start with a copy for MAC and convert round trip that way as well. There are a few limitations which won’t affect you for this purpose, but you should be aware of since you are servicing clients, more and more of whom will be using QB for MAC. The MAC version does not have all of the features that the PC version has in terms of customizing forms such as invoice templates. You will lose some of this in translation going from PC to MAC. Going from MAC to PC you can use the custom templates & features, but any invoices that were created on the MAC will need to be opened, the template chosen in the drop down and then the invoice needs to be saved again.

Click on ‘File’ – ‘Utilities’ – ‘Copy Company File For QuickBooks MAC’

Here is a screenshot:

Figure 1 – Convert QuickBooks from PC to MAC

Then you will be prompted of course for a location to save the file. Then send that QuickBooks Backup File via yousendit.

QuickBooks Tips & Tricks

June 4, 2009 2 comments

We have a new QuickBooks class in our learning center – QuickBooks Tips & Tricks.

This is a GREAT download whether you are new to QuickBooks or a veteran!

Today’s Question

The Question:

Hello Seth,

Need your advice –

we are sending out samples to our clients – most of the time free of charge or we bill a flat fee.
when entering these ‘sales’ in QuickBooks – what would be the best practice?

Our vendors in turn send us samples sometimes free of charge or bill us – whenever sample invoices come in we enter them in an cog account that is called ” samples” and “sample freight cost” –

I have temporarily setup a “sample income ‘ account that books to ‘sales’ would that be correct?

 

Here is the answer:

I would actually post an invoice or a sales receipt for the samples you send out (this way your inventory quantities are properly reduced), but enter a selling price of ‘0’ so there will be nothing due. In other words, when you send out samples, you are essentially selling them for ‘0’.

On other side, when you receive samples, you want to enter it the same way as you would for products you have to pay for (so that inventory Quantities are properly increased) but you will be entering them with a cost of ‘0’ and the items will carry whatever selling price they are set up for. If you have to create the item then of course you will set up the appropriate selling price.

If/when you do pay for samples, then yes I would book directly to cost of goods sold.

If/when you charge for samples (assuming they are not counted in inventory), then yes you can set up an item called “Samples” as a non-inventory part and then map it to the income account called samples. If they are counted in inventory then you invoice them as you would on any sale of products.



Ask Us

June 1, 2009 2 comments

Ask your questions by simply posting your comments here. Then we will post our replys and others can feel free to do the same if you think you know the answer.

QuickBooks File Types

May 30, 2009 1 comment

There are many ways you can work with a QuickBooks Expert. You can search for QuickBooks training resources online and of course you can hire us to help you. Once you’ve made that decision (and hopefully you’ve chosen us) we can work with your QuickBooks file in a number of ways.

Most e-mail servers will not allow attachments through if the size exceeds 10MB (megabytes). Some even limit you to 5. Because we are experts in both QuickBooks and Computers in general, we can really help you understand not just your QuickBooks file issues, but also how really work with your QuickBooks file in general. This is especially helpful in the context described here when you have hired a QuickBooks Pro such as myself and you want to be able to work with someone who can help you with QuickBooks and who also understands how to work with the file such that the integrity of your data is protected.

Here are the different QuickBooks File Types:

1) QBW – QuickBooks Working file.

This is the full fledged working copy of your file. This is going to be the largest in size; however as large file transfer services become more prevalent it is more common to send your QuickBooks file without even making a backup. For example on our Home Page http://www.nerdenterprises.com there is a link to a virtual drop box http://dropbox.yousendit.com/SethDavid766754 in which we encourage people to “drop” their QuickBooks file. Even the QuickBooks backup options described below create large files and so these services become helpful and even necessary. Visit http://www.yousendit.com for more info on the service we use.

2) QBM – QuickBooks Portable Company File (I don’t know where the ‘M’ comes from, seems to me it should be QBP)

When you choose to back up your QuickBooks file, the QuickBooks Portable Company File creates the smallest file size. The idea was to give it more transferability. This option takes the longest to create and the longest to restore. Based on what I’ve read from Intuit, it is also supposed to better preserve data integrity during transfer, however I have transferred many files over the years and more recently because of the yousendit service I have been transferring the complete QuickBooks file (QBW) and I have not had any problems yet. Nevertheless the options are there, so I talk about them for your benefit and so that you can decide which option is best for you. If you are very conservative and “worried” – this is the choice for you. My aim is generally at efficiency so in my case, this is not the best choice.

3) QBB – QuickBooks Backup

This is the old fashioned Backup file. I still like to use this one – especially when I transfer QuickBooks files frequently with clients as I often do. This enables me to maintain a history of the client’s QuickBooks file at various stages of my work. Oftentimes the nature of what I am hired to do for example is to completely re-purpose the Chart of Accounts. I will choose the option to append the name of the QuickBooks file with the date and time so that the files stack nicely in a folder that I often name “Old QuickBooks Files.” Usually I find that my frame of reference is in terms of when I did something to the file, so this makes it easy get to the right file.

4) The Accountant’s Copy

This enables you to work on your own file while your accountant works on it and the accountant’s changes can be imported. The way this works is that when you create the file, you have to set a dividing date. Let’s say you choose December 31. This will allow your accountant to change anything prior to Dec 31 while you can still enter and pay bills in your QuickBooks file. In the top title bar of the file you will see the words “Accountant’s Changes Pending.” This can work real well in many instances; however I have found it to be a bit buggy – especially where there are a lot of changes. My suggestion when using this is to import the changes frequently. The working copy can be released from the accountant’s changes in the event you do not need to import them. Also the accountant’s copy may be converted to a permanent QuickBooks working file (QBW). This is helpful if you haven’t made many changes, your accountant has, and if you are having trouble importing the changes.

Finally if you are stuck, you can send both files to Intuit (you have to call them) and they can fix this for you.

What about transferring from QuickBooks for MAC to QuickBooks for PC and vice versa?

Yes you can and have been able to do this since QB for Mac version 7, and QB for PC version 2007 (all editions, perhaps except for QuickBooks Simple Start).
It’s in the file menu under Utilities in QuickBooks for PC. In the MAC, I believe the choice is right there in the File menu so save a copy or save a backup copy for windows. Whichever direction you are converting you wind up with the equivalent of the “QBB” file. This of course has to be restored.

When you do round trip conversions, what will happen with your bank and credit card reconciliations initially is that it will look like the reconciliations were “undone.” All that has to be done is to go to reconcile the account, then enter the ending balance of the last statement that was reconciled in QuickBooks. You will see all of the previously “cleared” items come in checked off and your difference will be ‘0’. Just click ‘reconcile now’ and you’re done. When you are doing this, it is important to save your reconciliation reports as a PDF each time you reconcile (on the initial reconciliation, not on the round trip conversions). Please don’t waste paper – just save the PDF – you can print it only if/when you need it. Create a folder on your computer called “Bank of xxx reconciliation reports” and save them there. It’s easy and efficient.

More on this here: The Accountant’s Copy

Please feel free to reply to this post with any questions.

Seth David
President
Nerd Enterprises, Inc.
http://www.nerdenterprises.com

Why “The QBW?”

Well it may be obvious and then it may not. I came up with the name for this blog because every QuickBooks working file ends with the file extension “.QBW”. I thought it was pretty clever and was actually a bit surprised that it wasn’t already taken. The purpose of this blog is to have one place to provide an exchange of information about QuickBooks. I will post articles with helpful information on how to do things in QuickBooks and I will answer your questions. I may also use your questions as the basis for a web cast or even a full length QuickBooks class that I will make available for download in the Learning Center on our Main Site. I also will post information here about upcoming QuickBooks webinars. These are live online seminars that you can register for and get live help with me. I will have content prepared and I will also allow time for Questions and answers. I also may call an open forum where the entire session will be based on your questions, which you can either submit here or ask during the live webinar.

Please feel free to offer your suggestions for what you might like to see more of here. You’ll be helping me out and in turn I will be very happy to help you by doing everything I can to provide you with the answers you are looking for.

 

Thanks for visiting “The QBW”

Seth David