Inside this Issue
- Message from Doug Sleeter
- New Features of QuickBooks 2007
- Awesome QuickBooks Add-ons for 2007
- Online Payroll from PayCycle
- Adagio FX - Financial Statement Design Tool
- DICentral's DIintegrator for QuickBooks Provides EDI Links
- The Sleeter Group 2007 QuickBooks Certification Exam
- Tricks of the Trade
| Message from Doug Sleeter |  |
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This month we’re in the final stretch of preparing for the big event of the year, our QuickBooks Consultant’s Conference to be held November 7-10 in Las Vegas.
In preparing for the conference, I’ve researched the new features in QuickBooks 2007, and I’ve created my list of "Awesome QuickBooks Add-ons for 2007."
In this issue, we’ve included reviews of several of the top products in the market, in addition to our annual list of Awesome Add-ons. We’ll be announcing these Awesome Add-ons at the conference next week and awarding each of the developers with our statue of excellence.
Intuit will have several product managers and executives in attendance, and they are eager to hear feedback from the accounting community on their new versions of QuickBooks. You’ll get the answers to your questions straight from the people who make the products, and you can help them understand more about how they can help you succeed in your practice.
| New Features of QuickBooks 2007 | |
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QuickBooks 2007 has key new features and enhancements including changes to the Accountant’s Copy, Paryoll, Unit-of-Measure, Shipping Manager, and more.
We cover each new feature in depth. Click the link below to read the article or download our printable PDF version.
| Awesome QuickBooks Add-ons for 2007 | |
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Check out the new crop of "Awesome QuickBooks Add-ons for 2007". These top players in the QuickBooks Add-on marketplace are worth your review.
Each year, we research the market for great products that follow our guidelines for what makes them awesome. These products:
- Show superior design, implementation, and features.
- Have superior integration with QuickBooks. Products pass data to and from QuickBooks using best practices of the QuickBooks SDK programming interface.
- Use appropriate transaction types and field population for recording data into QuickBooks so as to preserve and/or enhance the standard reporting features in QuickBooks.
- Conform to good accounting and operating standards.
- Are developed by companies with a reputation for outstanding customer support.
This year, we have 13 winners. Check them out.
| Online Payroll from PayCycle | |
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| Adagio FX - Financial Statement Design Tool | |
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Since our look at the product last year, Softrak has added several powerful new features to it’s "Awesome" financial statement design tool, Adagio FX. It now includes the ability to import a fully formatted Excel spreadsheet to provide a "running start" to statement creation. If you spend any amount of time every month formatting financial statements in Excel, Adagio FX deserves your consideration.
| DICentral's DIintegrator for QuickBooks Provides EDI Links | |
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| The Sleeter Group 2007 QuickBooks Certification Exam | |
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The Sleeter Group 2007 QuickBooks Certification Exam has been posted and is available to members of our Consultants Network. Members who pass the exam become Certified Members and have added benefits which include their profile listed on our searchable referral website, their location included in our Consultant Map, and use of The Sleeter Group Certified Member logo for advertisements
Currently Certified Members have until December 31, 2006 to retake the 2007 Certification Exam to retain their certified status. Although the test does contain questions specific to QuickBooks 2007, most questions apply to multiple versions. The test is shorter than in the past and contains 67 questions, both True/False and Multiple Choice. The score is displayed immediately after taking the test. We require a score of 80% to become Certified.
We recommend that you study the Sleeter Group Consultant’s Reference Guide to prepare for the exam. If you don’t pass the exam the first time, you will receive a list of the questions that you answered incorrectly and a link to a second exam.
About 10% of our membership took the test during this first week it was posted and every one passed the exam on the first try. Congratulations to all of these members.
| Tricks of the Trade | |
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Every day, members of The Sleeter Group’s Consultants Network tackle the day-to-day problems of their clients in the real world. The following are some of the more general problems and solutions that surfaced this month on our "Sleeter Group’s Consultants Network Forum".
Is this Impossible? Using the new Unit of Measure Feature to convert measurements from Millilitres to Bottles to Cases, and even to Gallons of Wine!
If someone knows how to convert from cases to gallons on an invoice and bill the customer by the case but show on the bottom the conversion to gallon without a price attached, will you please call me? Or please let me know who I can call to get the answer to this.
The only response I received so far is that I can do it in 2007, but how? How? How? I’ll pay any price to find this information out.
QuickBooks will only take one base unit and convert it into one related unit, it won’t
convert, then convert, then convert, etc…
For example, I need the following calculation on my invoice:
If a case = 6 bottles and I have 5.5 cases, I need to enter 5.5 cases
on the invoice and have QB convert to 13.08 gallons – the calculation
is: 66 bottles x 750 ml = 49,500 ml / 3,785 (ml in a gallon) = 13.08
gallons.
I’m assuming this can’t be done and I have to tell my client that I can’t do this for him. By the way, if anyone in Chicago can do this and you want to take this client, call me and we’ll work something out.
Thank you,
Abby Cole
Doug Sleeter responded:
Abby,
YES, you can do what you want in QB 2007 Premier using multiple units of
measure. Sort of…
First, set the preferences to Multiple Units of Measure. The key in succeeding
with units of measure is to set up the correct BASE unit of measure as the
SMALLEST unit of measure you need to track. From your description, that would be
Millilitre.
To set this up, go to the Unit of Measure Set List (under the lists menu).
Create a new U/M Set as follows.
- Since QB doesn’t predefine a Millilitre, select "Other" at the bottom of the
Unit of Measure Type screen and click Next.
- Enter Millilitre as the name, and mL as the Abbreviation and click Next.
- On the "Add Related Units" screen, enter the following:
1) Click the checkmark column on the first line and enter Bottle, bot, and 750
in each of the columns to indicate that a "bottle" is defined as containing 750
mL.
2) Click the checkmark column on the second line and enter Gallon, gal, and
3785 to indicate that a Gallon is 3,785 mL.
3) Click the checkmark column on the third line and enter Case, case, and 4500
to indicate that a case is 4500 mL (750*6).
then click next to the Set Default Units of Measure screen.
- On the Set Default Units of Measure screen, set the units for purchasing,
sales, and shipping and click Next.
- On the last screen, you can modify the name, but it should default to Volume
by the Millilitre. I would leave that.
Now, go to your item list and set up an item called "Bottle". Select Volume by
the Millilitre as the Unit of Measure set for that item. Assuming that a
"bottle" is what your supplier sets pricing on, and that you set the sales price
by the bottle, this is where you set those amounts. BUT, you need to divide the
bottle price by 750 to have QB store your price by the mL (your base unit of
measure).
When you purchase a bottle (or a case of bottles), you enter the quantity of
whatever you set up for the purchase unit of measure (probably case). Assuming
you purchase by the case, QB will calculate the price on the PO by multiplying
the quantity you enter by 6 to come up with the purchase price. It will also
keep the cost per mL internally since that is your BASE unit of measure for this
set.
When you sell a bottle (or a case of bottles), you enter the # of cases in the
Qty field, and it charges the bottle price (per the item price) times 6 to come
up with the price for that case. If you only sell one bottle, you would enter 1
case and then select "Change 1 Case to 1 Bottle" in the U/M column. QB does all
the math for you.
Anyway, although this "solves" the problem you stated, it still not quite be
what your client wants. The reasons are:
1) The Inventory Reports will show all quantities in mL only. I doubt the client
wants to see their unit quantities on reports in Millilitres only.
2) There is no way to set different pricing for different quantities. That is,
if you sell one bottle for $10, but a case of 6 bottles for $49, there is no way
to automate that pricing in the item definitions. So you would always have to
override pricing (on POs or on Sales) if you have quantity-based pricing.
So there you have it. The U/M feature is good enough to solve most of your
problem, but it’s not the perfect solution yet.
See you in Las Vegas!
Doug Sleeter, The Sleeter Group, Inc.
www.sleeter.com 925-416-6300