QuickBooks 2011 – New Balance Sheet by Class Report – Part 5

QuickBooks 2011 – New Balance Sheet by Class Report – Part 5

When you create a Sales Tax Liability check, the amount will appear in the Unclassified column of the Balance Sheet by Class Report in both cash and accrual based reports.

The reason that your Sales Tax liability payment is not accurately allocated is because there is not a Class column available in the Sales Tax check form.

In order to resolve this problem, you will need to create a journal entry to move the sales tax payment amount from unclassified to the correct class.

Click the link above to read the entire article; complete with instructions for creating the Journal Entry.

QuickBooks 2011 – New Balance Sheet by Class Report – Part 3

QuickBooks 2011 – New Balance Sheet by Class Report – Part 3

In this article, we’ll discuss one of the limitations that I was most disappointed in – and that is being unable to assign multiple classes in timesheets and then ultimately in paychecks.

Think of a company that has two “profit centers, divisions or crews” which they want to track using classes – a Service Crew that does smaller installations and a Contracts crew that does the bigger job; with a few employees bouncing back and forth between the crews. If they need a Balance Sheet by Class Report, they might be out of luck IF they also want a Profit & Loss by Class Report; because the Balance Sheet by Class report doesn’t support the ability to use multiple classes on timesheets and ultimately paychecks and QuickBooks will display the transaction – bank accounts and payroll liabilities in an “unclassified” column on the report.

The resolution that the QuickBooks Help file provides may not be a satisfactory one for contractors, and other businesses, who want or need to track employees under multiple classes – in our example a Service Department and crew in addition to a Contracts Department and crew; and will require users to change their QuickBooks setup.

Be sure to read the entire article by clicking on the link at the top.

QuickBooks 2011 – New Balance Sheet by Class Report – Part 2

QuickBooks 2011 – New Balance Sheet by Class Report – Part 2

QuickBooks 2011 offers a new advanced Balance Sheet by Class Report that differs from other QuickBooks reports because it gives users the option of selecting “Classes” (fund, location, profit center, or other category) as their column grouping. This will enable QuickBooks users to perform divisional accounting with QuickBooks, which was previously impossible or required significant duplication of effort.

The first limitation that we will discuss is Journal entries with “unbalanced” classes. This limitation will affect CPA’s and other accounting professionals; and will require that they change the manner in which they create journal entries in client files – if they or their client chooses to use the Balance Sheet by Class Report.

Be sure to click the link above to read the entire article.

QuickBooks 2011 – New Balance Sheet by Class Report – Part 1

QuickBooks 2011 – New Balance Sheet by Class Report – Part 1

QuickBooks 2011 offers a new advanced Balance Sheet by Class Report that differs from other QuickBooks reports because it gives users the option of selecting “Classes” (fund, location, profit center, or other category) as their column grouping. This will enable QuickBooks users to perform divisional accounting with QuickBooks, which was previously impossible or required significant duplication of effort.

While this report has been one that has been requested by many QuickBooks users and the accounting professionals who support them, it is not without limitations and drawbacks, making this a report that will be able to be used by some companies and in some instances but not all.

For complete details, read the entire article.

QuickBooks 2011 – 10 Tips for a Successful Installation/Upgrade

QuickBooks 2011 – 10 Tips for a Successful Installation/Upgrade

Tips to help you avoid pitfalls when installing/upgrading to QuickBooks 2011.

Not all versions of QuickBooks 2011 are compatible with Office 2010.

Install as Standard User on Windows 7 & Vista.

Do not replace existing version - install the new version to it's own directory/folder.

Read the full article for more details.

QuickBooks 2011 New & Improved Purchase Order Reporting

QuickBooks 2011 New & Improved Purchase Order Reporting

The Open Purchase Orders Detail report is new in QuickBooks 2011 versions (Pro, Premier and Enterprise 11.0). This report lists Purchase Orders by Items or Cost Codes that haven’t been received in full.

I’m also very excited to see that after many years, Intuit has finally fixed the Purchase Order reports to ACCURATELY display open balances, without a lot of additional manipulation by the user.

Where's the 5 User Version of QuickBooks 2011?

Where's the 5 User Version of QuickBooks 2011?

Scott Gregory shares a tip on how to obtain a 5 User version of QuickBooks Pro & Premier 2011.

QuickBooks 2011 – New Sales by Ship To Address Report

QuickBooks 2011 – New Sales by Ship To Address Report

The Sales by Ship To Address report is new in QuickBooks 2011 versions (Pro, Premier and Enterprise). As the name implies, this report will display Sales by Ship To Address.

The report initially shows a detailed listing of all items shipped to specific locations and then it includes a total for each unique address/city you ship to. The report includes invoices, credit memos, and sales receipts. It doesn’t include statement charges, sales taxes, or reimbursed expenses.

Each unique ship-to location appears as a separate group. The report sorts the groups first by state and then by city. If you enter a sale without a ship to address, it appears at the end in the City (Other) group.

I do see it as being a very useful report for Retailers. Retailers could modify this report and filter it by specific item to see which item is popular in which Cities and States. This information could then be used to determine which items they should discontinue or which items are the most popular so they could run a “sales promotion” on those items focused on specific cities and states.

QuickBooks 2011 – New Average Days to Pay Report

QuickBooks 2011 – New Average Days to Pay Report

The Average Days to Pay report lists paid invoices and statement charges; grouped by customer and job, and the number of days that it took the customer to pay. I can see that the Average Days to Pay Report would be a useful tool in helping all businesses, not just contractors, to determine their projected cash flow.

Quick Facts About Microsoft Office Click-to-Run

Quick Facts About Microsoft Office Click-to-Run
Microsoft Office Click-to-Run does not have the same functionality as a full retail version of Microsoft Office that is downloaded from the internet or installed from a CD/DVD.

If you are having problems with integrated Microsoft or QuickBooks applications that rely on Microsoft Office – check to make sure which Office version you are using – many integrated applications are not compatible with Office Click-to-Run.

Read this article for complete instructions for migrating (switching) from Microsoft Office Click-to-Run to a full version of Microsoft Office.

QuickBooks 2011 – Computer Requirements & Office Compatibility

QuickBooks 2011 – Computer Requirements & Office Compatibility

We all think that when we purchase a new computer and/or version of Microsoft Office – that all of our software; including QuickBooks 2011 will run perfectly……..this is NOT always the case.

Each version of QuickBooks (Pro, Premier and Enterprise) has different compatibility requirements for use with Microsoft Office.  Not all versions of QuickBooks 2011 are compatible with Office 2010.  Read this article containing requirements carefully - that way there won't be any surprises!

QuickBooks 2011 Available Beginning September 27, 2010

QuickBooks 2011 Available Beginning September 27, 2010

The news we have all been waiting for – QuickBooks 2011 announced.


According to a press release from Inuit, QuickBooks 2011 will be available to purchase beginning on September 27th 2011 directly from Intuit and Authorized QuickBooks Affiliates (such as ourselves).

Watch over the next few weeks for our reviews of the new features.