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Jones & Company,
Ltd.
501 Southwest Drive
Jonesboro, AR 72403
870.935.2871
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| A1 |
How can I post discounts to a Cost
of Goods Sold account?
If you receive discounts for timely payments
from vendors, and the purchases that qualify are
for inventory, it's normal (and good accounting
practice) to post the discounts to a Cost of Goods
Sold account. However, QuickBooks won't let you
do that. Instead, QuickBooks forces you to post
vendor discounts to an Expense account.
This is a serious design flaw in QuickBooks, and it doesn't qualify as a "bug".
(Bugs are "oops, that was a mistake" programming errors that programmers
fix. I've contacted Intuit several times to ask them to change this ridiculous
rule, and my pleas have been ignored).
Set up two accounts for vendor discounts, one as an Expense and the other as
COGS. Post the discounts to the Expense account. Then, before you print or display
a P & L report, make a Journal Entry to move the discounts from the Expense
account to the COGS account. This gives you a real number for COGS. |
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| A2 |
How can I remove items on reports
when filtering?
When filtering reports in Quickbooks, you may
want to select most of the items on a particular
list, but not all items to appear on your report.
First choose the "selected" option from the list
(selected accounts. selected names, etc).
Normally you would check each item that you want to appear on your report. However,
if you want to check all the items on the list, click the first item and do not
release the mouse button. While holding down the mouse button, slide the mouse
pointer down just below the list.
When Quickbooks is done – all of the items on the list will be checked. Release
the mouse button. Now you can manually click the items to remove the ones that
you do not wish to include in your filter. |
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| A3 |
Why always use "Pay Liabilities" window
and not "Write Checks" for payroll
liabilities?
Do not pay your payroll liabilities from the "Write
Checks" window. If you use this window, Quickbooks
will warn you to use the "Pay Liabilities" window,
but will let you write the check. However when
you print the 941, it will not reflect any payments
that you made using the "Write Checks" window.
Use the "Pay Liabilities" window to create checks for all tax liabilities. Using
this window will ensure that the payments are reflected accurately on the 941
report and that your liability accounts are properly reduced.
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| A4 |
How can I calculate the amount
of tax that should be taken out of each paycheck
without changing exemptions?
Some employees calculate their taxes very carefully
and know how much they need to have taken out of
their paycheck to hit their target. Here is a way
to accommodate this without changing the exemptions
until you hit the correct amount. In the navigator,
select Payroll and Employees. Click Employees and
select the employee to work with. Click Employee
/ Edit... in the Employee List window. Click Payroll
/ Taxes. Enter 99 for the number of exemptions
and the desired amount of withholding in Extra
Withholding window. Repeat for state taxes. Entering
99 prevents the normal calculation of taxes, and
by entering the dollar amount in the Extra Withholding
box, the desired amount is withheld. |
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| A5 |
Is there a faster way to find a
specific transaction?
To find a specific transaction there is a faster
way than using previous and next. Try clicking
the Reg icon, display the register, and scroll
up and down to find the transaction. |
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| A6 |
How can I set up closing date where
only the administrator will be able to change
transactions?
We recommend you update and password protect
the QuickBooks closing date so data will continue
to match the tax return prepared by the accountant
and the user will be able to view all transactions
but not necessarily have the ability to change
the information. To enter a closing date: Select
Company / Set up Users. In the User List window,
click the Closing Date button. Enter the date through
which the books are closed, and click OK. Only
the QuickBooks Administrator can enter or change
the closing date. Because the Administrator has
unlimited access to the data file, it is impossible
to restrict the Administrator from changing prior-year
transactions. QuickBooks will display a message,
however, asking the Administrator to confirm the
change to a prior-year transaction. To protect
further against prior year changes to the data
file, do not allow any additional users to enter,
change, or delete transactions dated prior to the
closing date. |
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| A7 |
Are there classes I can take to
learn more about Quickbooks?
Arkansas State Business Development Center located
on the campus of Arkansas State University offers
periodical classes in "Getting Started with
Quickbooks" and "Beyond the Basics." These
classes are cosponsored and taught by Jones and
Company, Ltd. Call 870-972-3517 for schedule of
classes. Click here for more info. |
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| A8 |
How can I make reconciliation with
my bank statement?
If you enter sales summaries in QuickBooks instead
of individual sales, doing a separate "Make Deposit" for
each payment method, such as cash/checks, MasterCard,
etc., will make reconciliation with your bank statement
easier. |
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| A9 |
If I use the Enter Bills option, can
I use the Write Checks option to pay them?
QuickBooks has two options for handling your
payments. One option is to Enter Bills for vendors
and then pay those bills. The other is to Write
Checks. It is important
to note that if you Enter Bills you must use the
Pay Bills option. If you
use Write Checks, those bills will still show as
due and you will end up double counting the expense
by entering it once as a bill and then again as
a check. |
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| A10 |
How can I get Quickbooks-Pro to
work in a multi-user environment?
Follow the instructions to install multiple copies on the server doesn't work
because QuickBooks does not allow more than one set of license codes to reside
in the registry. It also doesn't allow the user to add licenses. Once one is
loaded and entered, it is overwritten if a new one is installed. One solution
is to create a special batch file for each valid user allowed to log on to the
system. The batch file contains a set of registry entries that change the keys
that QuickBooks is expecting and thus allows the additional user to log in. |
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| A11 |
How should I enter a sale in Quickbooks
without an invoice?
If you want to enter a sale made without an invoice in QuickBooks, using
the ENTER CASH SALES option on the ACTIVITIES MENU will avoid any negative
amount showing up on your Aged Accounts Receivable Report and other problems. |
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How do I charge sales tax in
QuickBooks?
To have sales tax appear on your invoices,
sales tax must be turned on, the customer
must be taxable, the item must be taxable,
and at least one tax rate must be assigned
to the transaction.
To apply tax to a sale:
Applying a default tax rate: If
you have set up a default sales tax, assigned
tax rates to your taxable customers,
and marked your taxable items, QuickBooks
automatically calculates and applies the
tax when you make a sale.
Applying a different tax to a sale: Select
the tax you want to apply from the list
of tax items at the bottom of the
sales form.
If the tax you want is not in the list,
select from the Tax list to create a new
tax item. For subsequent sales, your new
tax item will appear on the Tax list.
Applying Tax to nontaxable items/customers: To
apply tax to an item you normally do not
tax, click in the Tax column of the
sales form to indicate you are collecting
tax on the item. A "T" appears.
Make sure the Customer is Taxable checkbox
is selected.
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Can I void a transaction without deleting it?
Yes. Voiding a transaction (such as
an invoice, sales receipt, or other entry)
changes
the amount of the transaction to zero,
but keeps a record of the transaction in
QuickBooks. Deleting
a transaction removes it entirely from
QuickBooks and is
irreversible.
To void a transaction:
- Before
voiding any transactions from your
company file, we recommend making
a backup.
- Locate the transaction you want to
void, and display it. One way to do
this is to
use the Find feature, found
on the Edit menu. Use the filters provided,
such as Name, Transaction type, or Date
to narrow the results, and click Find.
Double-click the transaction in the results
area to display it.
- From the Edit menu, choose Void [transaction]
to keep a record of the entry.
- If you are voiding the transaction,
click Save & Close to record the change.
Click
OK.
Note: You cannot remove a summary transaction
that was created with the condense feature. |
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How can the Administrator
recover lost user passwords or change
user privileges?
1. Log in as the Administrator.
2. From the QuickBooks Company menu, choose Set Up Users.
3. Select the appropriate name from the User List, and then click Edit User.
4. Delete or change the password in the Password and Confirm Password text boxes,
and then click Next.
5. Verify the correct access level is selected and then click Next.
6. If the user has access to selected areas of QuickBooks and you want to modify
the choices, continue through each window, making changes as needed. If the access
permissions are correct, or if the user has access to all areas of QuickBooks,
click Finish, and then click Close in the User List.
7. From the File menu, choose Open Company/Login.
8. Choose the correct company name and then click Open.
9. Type the user name and password and then click OK.
10. Users can change their passwords by choosing Change Your Password from the
Company menu.
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