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Quickbooks

General Questions

 

 How should I post receipt entries in QuickBooks?

The approach you use to post QuickBooks receipt entries is up to you. You may post individual sales and registration entries, but understanding our volume this approach would likely create a rather expansive file. I would recommend bulk/summary receipt entries to QB with detailed hardcopy supporting documentation maintained in your bank deposit files. Supporting documentation might include individual cash receipt slips, paid program registration sheets, fundraiser summary sheets, etc. The only downside to bulk/summary entry is that you will not be able to use QB to check on individual payment or create a customer list. You will need to rely on your supporting documentation for this

 

When I send checks to Penn State, QuickBooks wants to group them together into one check. What can I do to keep them separate?

To send checks to Penn State and it's various departments you must create unique vendor names for each department and use the Print on Check as box to specify the payee as Penn State University.

Example:
To send checks to Penn State and it's various departments you must create unique vendor names for each department and use the Print on Check as box to specify the payee as Penn State University.

You want to print two checks that go to Penn State. The first check goes to Administrative Services for your 4-H insurance. The second check goes to the Publications Distribution Center for pubs. Create two unique vendors in your vendors list, PSU - Admin Services and PSU - Pub Dist Center. Since all checks have to be made payable to Penn State University, set the field Print on Check as for each vendor to Penn State University . Having unique vendor names also allows you to take advantage of the Name and Address information when printing checks and using the windowed envelopes

 

Every county staff member emailed me their travel on Excel this month. Isn't that great?

This supporting documentation may be printed off and attached to the expenditure vouchers you generate. The staff member must sign their excel travel support documentation and provide receipts for any non-meal out-of-pocket costs. It would probably make more sense for staff to print their own excel travel support forms, sign, attach receipts, then forward to you for processing.

 

One of my vouchers that I typed yesterday for March is marked Received in Full. Why is that? I didn't do anything different with that voucher.

After you create new vouchers then perform the "receive items with bill" step the "received in full" stamp is applied. The voucher may either be awaiting your action in the "pay bills" or "write checks" step.

 

The state is requiring us to allow them to make a electronic withdrawal on the income tax due each quarter. How do we make this transaction appear on the general ledger, because no check will be written for this withdrawal?

QuickBooks can auto assign check numbers or will allow you to assign your own check number. In the case of an electronic funds transfer we select "assign check number" at the pay bills step then enter EFT instead of a check number.

 

Where can I buy 3 part voucher checks?

The following is a list of Venders that sell 3-part voucher checks. Order price may vary depending on the options you choose.

Vendor
Contact
# of Counties Using
Comments
CheckDepot.net  
1
 
Nebs.com  
4
$134.95 for 1000 LT104-1 voucher checks and $197.95 for 2000 No. 5028 self-seal confidential check window envelopes, plus a shipping and processing fee. For 2000 checks and 2000 envelopes our total bill was $491.69. (Feb 2005)

Their customer service is the best.

250 for $69.95 + 1.95 fraud blocker service. 500 window envelopes at a cost of $57.50.

Kish Printing Inc  
1
$81.69 for 500 checks and $32.50 for 500 window envelopes
Deluxe Business Checks & Solutions  
1
$127.00 for 500 checks
Safeguard

Tracy Boyer

(800) 268-8228

3

500 checks with envelopes cost $85.93, 250 deposit ticket cost $40.15, shipping and handling was $11.96.

1000 - 3 part checks - 135 + 7.22 shipping/handling, 4 books deposit slips - 28.35 - 5.53 s/h, purchase envelopes from a Staples, Sams or other store

Lawrence Printing Service

Thomas J. Lawrence, Jr.

tomlaw45@aol.com

(215) 720-0700

1
Very fast and dependable service. Great to work with.
Intuit
(800) 316-1120
1
250 checks, sheet-fed voucher classic @ $69.99, shipping & handling $9.50, sales tax $5.57 totaling $85.06
McBee
(800) 343-5922
1
250 Checks for $80.90 (#MLT104-1)
CompuCheck.com  
1
Prices range from $37.99 for 300 to $299.99 for 6000, good deals found here.

 

Into what Income Category do I post my Extension Mail Support?

Create a new Income Account on your Chart of Accounts called PSU Support. When making the deposit in QuickBooks, choose the account PSU Support and the class, Extension Mail Support

 

Please translate the following terms into our old FileMaker terms so we are sure we understand what they mean.

Your Bank Name - general QB account that needs to be edited with your specific bank name and information.

Opening Bal Equity - general QB account that will not be used. You may select and mark inactive.

Retained Earnings - general QB account used to accrue year-end balance. This will happen automatically at the close of your fiscal year. We will prepare and send later this year a "How To" with instructions to journal year-end balances from Retained Earning to the Contingency Income account and the Contingency Reserves class.

Contingency Income - Accounted added in our template files to aid in the redistribution of Retained Earnings to the Contingency Reserves class.

 

How should we handle expenses paid out of "earmarked funds" -- these are taken from our carry forward. But the carry forward line item (one of the terms above) is an income account. What account should they be tracked in? The issue is that I do not want expenses from earmarked funds to complicate tracking expenses against annual allocation in YTD reports.

You would charge such expenses against the EXPENSE chart of account that properly describes the type of expense and the class called Contingency Reserves (i.e. carry forward $$$ held on account). You may create sub classes if you desire to budget and account for Contingency Reserves for specific earmarked purposes.

 

We are ready to order new checks to convert our accounts to QuickBooks. From an accounting/auditing standpoint, does it matter how we start numbering these checks? We have a couple hundred of the old checks on hand that we will have to trash. Do we start with the last number in the old checks(4304), the first number of the unused checks (4027), or just start from scratch with 1?

Print checks starting with the first unused check number from the old batch of checks you will destroy.

Reporting Questions

What report format should we use to generate our Annual Audit Report?

We have put together a tutorial using Breeze (adobe connect) to show you how to create your annual audit report using QuickBooks Pro 2005. This tutorial is located at: https://meeting.psu.edu/p56161116/


Is there a way when you try to get a report for a class to also get who the checks were written for, and also when the deposits were made into that class. I was hoping for a report like we got off from the other financial records showing all the transactions.

A good approach to providing reports to educators would be:

  1. Provide monthly reports after the bank reconciliation is completed.
  2. Provide the Profit/Loss by Class and select "all transactions" to provide them with an overall summary and a cash balance in their areas of responsibility.
  3. Provide the Profit/Loss Detail and filter by Class. Provide these details for only the last completed month so that they may review and ensure receipts and expenses belong to their areas of responsibility.

 

I am preparing to send in my general ledgers for the commissioner's account and the general extension account. Do you also want general ledgers for the 4-H program development account? This is the account that handles the fair fund monies

All

office supervised accounts must be audited each year. We are looking for proof of audit as well as a detailed general ledger report that corresponds with the audit period. We will follow up and request additional documentation from county offices as needed.

 

 

Technical Questions

I noticed when I have been working in my new 2008 QuickBooks files and closing them out, 2 new files appear - one ends with QBW.nd and the other ends with QBW.tlg. What are these and should I do anything with them?

.ND is the QuickBooks Network Data File

A configuration file that allows access to the QuickBooks company file. Do not delete this configuration file.
.TLG is the transaction log file (for QuickBooks company file)
When you back up your company file, QuickBooks starts a log of transactions that you've entered since the last time you backed up. In case of accidental loss of data, Technical Support can use your most recent backup in conjunction with the transaction log file to recover your data.

Both of these files can be ignored but not deleted.

 

What is the recommended setup for QuickBooks in my office? In other words, where should my QuickBooks Accounting files be stored?

The single best configuration is to store your files in your Local documents(XP) or My Documents - Local(Win7) folder with QuickBooks configured to backup your data files into your My Documents folder and/or onto your County Server on a regular basis.

We still come across installations where the QuickBooks files actually reside in the QuickBooks applications folder. This folder is not backed up. This along with failing to setup QuickBooks to properly backup your files to an alternate location is a recipe for disaster.

If you need help verifying your installation, let us know. We'd be happy to review it with you.

 

Do we automatically do installations of Quick Books updates? I have one now and am not sure if I need to install these automatically whenever I see them.

The short answer to this question is YES .

QuickBooks has an Automatic Update feature similar to your Windows XP computer. When this feature is turned on, it runs in the background even when you are not using QuickBooks. The next time you launch QuickBooks, after an update is downloaded, it will tell you that a new update was downloaded and give you the option to install it.

You can verify the settings for this feature by selecting Update QuickBooks from the QuickBooks File menu. We recommend that this feature be turned on. If you have further questions regarding this feature, please contact us.

 

Why is my QuickBooks slow when I open and close the file?

Many things can affect the performance of your QuickBooks. One thing that we have found is that QuickBooks performance can be greatly affected by the number of windows you have open in QuickBooks. Each time you go to the menu to re-select a report or to go to one of your lists, QuickBooks opens a new window.

QuickBooks, by default, is set to remember that you have these windows open and will pause on opening and closing to save references to these windows. This will slow your opening and closing down and could affect the overall ability for QuickBooks to do it's job. If the number is reasonable, 5-10, then this is not an issue. If the list runs on and on, then you will want to consider doing one of the following.

There are two ways to manage your open windows. One is to close each window when you are done with it. For instance, you just finished generating a report and have memorized its customizations. This would be a good time to click on the red "X" for that window to close it out. The second method is to have QuickBooks do it for you. The picture below shows you the setting you will need to change to have QuickBooks do this for you.

From the Edit menu, choose Preferences and scroll to where you can see the Desktop View icon on the left. Select the Desktop View icon and click on the My Preferences tab, click the Don't save the desktop button and click OK . Changing this setting will ensure that QuickBooks will close all the windows upon exiting. For more information, you can click the Help button on this Preferences screen while in QuickBooks.

 

I've downloaded the OAS QuickBooks templates, but they won't open. What do I do now?

The OAS QuickBooks templates are really QuickBooks backup files. These backup files are intended to be a starting point for you as you begin to use QuickBooks. They have a .QBB extension and will not open when double-clicked. The first step, once the template file is downloaded from our website, is to Restore the .QBB file using the Restore command from within the QuickBooks application. This process is outlined in the following document, How To... Restore Your QuickBooks Data File.

To summarize the Restore process, you will first choose the file you want to Restore then you will choose where you want to Restore it too. For Example: You have just downloaded the file, PSCE Commissioners Account Template.QBB. In the first section of the Restore window, you will click the Browse button and locate this file on your hard drive. The second section will already have a location specified as the QuickBooks application folder. You do NOT want to Restore the file there but will want to choose a more appropriate location such as a new folder in your My Documents folder. Once you have both selections made, just click the Restore button and the restoration will be complete.

 

Is there a way to make the ENTER key move between fields? Sometimes I hit it instead of the tab and it closes my window.

You can make the ENTER key move between fields by making the following preferences change in each of your company files. After opening QuickBooks, choose Preferences from the Edit Menu. Locate and select the General icon on the left hand side of the Preferences screen. You may have to scroll up or down to locate it. Next, select the My Preferences tab at the top of the Preferences window. The first item is Pressing enter moves between fields . Select this checkbox and click the OK button.

Pressing the ENTER should now move you between fields on data entry screens.