Category: Industry Solutions
Trading Credits Between Jobs in QuickBooks
I occasionally get clients (particularly contractors) asking me if they can transfer the overpaid balance from one project to another, often from a completed project to a new project. They thought it would be easy. They thought they could create a journal entry and debit Accounts Receivable for the overpaid job and credit Accounts Receivable [...]
QuickBooks Available Inventory
If you use the Inventory feature of QuickBooks you understand the concept of quantity on hand – a measure of the quantity of any inventory part or inventory assembly item that you have at any given time. QuickBooks also has another measure of quantity that many people don’t understand – available quantity. Let’s dig in [...]
QuickBooks 2012 Inventory, Corrections and Updates
There was a very large number of new and changed features in QuickBooks 2012, and that makes it tough to do a truly detailed analysis of all of the features. I missed a few things in my early reviews of the new inventory features in QuickBooks Enterprise, so here are some corrections and updated information. [...]
QuickBooks 2012 Inventory Center
OK, one more QuickBooks 2012 inventory article. Inventory management is near and dear to my heart, as I’ve been working in that area for over 30 years. QuickBooks is a bit frustrating to me because inventory tends to be an afterthought, not one of the core areas. I’ve been very excited about the QuickBooks 2012 [...]
QuickBooks 2012 Automatic Cost and Price Updates
Here’s another Inventory feature for QuickBooks 2012 – and again this is only available in QuickBooks Enterprise Solutions. You can now set QuickBooks to update the Cost of inventory parts and assemblies when you receive them, and also the Sales Price when the Cost changes. I know quite a few people who have been looking for this [...]
QuickBooks 2012 Serial Number Tracking
Serial number tracking is a key requirement for many inventory based businesses. Until now, if you wanted this feature in QuickBooks you had to use an expensive third party add-on product that would move inventory functions entirely outside of the QuickBooks company file. With the 2012 version of QuickBooks Enterprise Solutions we have a closely integrated [...]
QuickBooks 2012 Inventory Lot Tracking
Lot tracking is basically tracking the quantity you have of items purchased (or manufactured) in “Lots”, or groups of some sort. This is used in many different industries (and is required by regulation in some) and it has been a missing feature in QuickBooks inventory. Now, with the 2012 version of Intuit QuickBooks Enterprise Solutions, [...]
QuickBooks 2012 FIFO Inventory
One of the most common complaints I hear about QuickBooks inventory is that is calculates the cost of items by using an average costing method. Many inventory based businesses want to use another costing method, most commonly FIFO (first-in, first-out), but to get that you would have to use a third party add-on product that [...]
QuickBooks 2012 Enhanced Inventory Receiving
If you work with inventory in QuickBooks you are probably aware of the hassle of receiving inventory and the related billing – you can’t disconnect the receipt from the bill. There are a number of problems that come up because of this, and the workarounds are a hassle. Now, with QuickBooks Enterprise Solutions 2012 there [...]
Receiving Two-Party Checks in QuickBooks
There are times when you may receive a “two-party check”, often in the constructions industry. This is a check that is payable to two companies, usually the prime contractor and a materials supplier, or other subcontractor. Let’s take a look at how you would handle this in QuickBooks.
