You could try to import them as regular checks, though. Here are two add-ons that might help.
- Make sure your service items are double-sided. If not, click the box next to This service is used in assemblies… and enter both an expense and income account as well as a cost and sales price.
- Enter your subcontractors' time on timesheets at either Customers > Enter Time or Employees > Enter Time.
- When creating an invoice in Pro, click the Add Time/Costs button to add timesheet data to the invoice. Premier and Enterprise also have an Invoice for Time & Expenses option.
- When creating a bill, check or credit card charge, if there is time data for the vendor you'll get a popup asking if the payment is for time. Select Yes and the appropriate dates.
You might need to adjust some of your preferences to do the above. For instance, you'll need to select Yes under Do you track time? in Edit > Preferences > Time & Expenses > Company Preferences if you haven't already.
One last consideration. If you have subcontractors with different cost and sales prices, you might want to add separate sub-items for each set of prices. Otherwise, you'll sometimes have to change the default information that feeds into your invoices and/or bills.
There is a billing level rate feature in Premier and Enterprise Contractors, Professional Services, and Accountants editions which will let you apply different billing rates for the same service item but it only works on sales transactions (invoices, sales receipts). It doesn't work on purchase transactions (bills, checks, credit card charges).
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News Flash – Error -6094, 0 when opening QuickBooks after downloading an update for AVG Anti-Virus software
This just in from Intuit– AVG virus software update is interfering with QuickBooks 2009. If you are getting Error -6094,0 when opening QuickBooks after downloading an update for AVG, here are the steps for fixing the problem:
What is Happening?
After an update has been downloaded for AVG Anti-Virus, the following error message occurs when trying to open QuickBooks:
An error occurred when QuickBooks tried to start the database server that manages access to the QuickBooks company file. Error (-6094,0)
What You Need To Do
- Update AVG to the latest virus definition
Signature file 271.1.1/2832 (AVG v9.0.814) – this update was just released to correct the issue where AVG unnecessarily detects QuickBooks as infected with a virus
- Restore QuickBooks files that were quarantined by the anti-virus.
ORRepair the QuickBooks installation.
Follow these instructions to update AVG to the latest virus definition:
- Open the AVG Anti-Virus User Interface
- Click on the Update now button on the left part of the AVG user interface
- From the Tools menu, select Update
Important: Always make sure to download the latest virus updates so that you are always protected
Restore any QuickBooks files that are in the vault :
- Open AVG Anti-Virus User Interface
- Click History from the top menu bar and select Virus Vault
- Locate any QuickBooks files and select one file at a time
- Possible files include: qbw32.exe, qbdbmgr.exe, qbdbmgrn.exe
- Click Restore located at the bottom of the window
- Once finished restoring all QuickBooks files, click Close
- Close AVG Anti-Virus User Interface
If you are still unable to open QuickBooks, or if there were no QuickBooks files in the Virus Vault, you may need to repair the QuickBooks installation.
Click the link below for steps on repairing QuickBooks:
Repairing QuickBooks does not affect company data files (.QBW). The data stored in these files will remain intact.
How to Get Journal Entry Information to Show Up on Job Costing Reports in QuickBooks for Contractors
Since journal entries don’t have an item field, you’ll have to trick QuickBooks into doing what you want with a $0 transaction. Since these are purchase transactions, I’d use a $0 check. Start by creating a bank account called Clearing Account in Lists > Chart of Accounts so that you don’t clutter up your regular checking account with a bunch of $0 checks. Then go to Banking > Write Checks, select your clearing account for your bank account, enter in your items on the Items tab with a positive amount and enter the expenses you've already entered with your journal entries on the Expenses tab with a negative amount. Always put a Customer:job on the Items tab, put it on the Expenses tab only if was also included on your journal entries Once you’re done, check both your Profit & Loss by Job (which is based on your chart of accounts) as well as one of your job costing reports to make sure everything looks correct.
As for the estimates, the Amount column is your estimate expenses and the Total column is your estimated revenue. If you have a line that’s only for expenses clear out the Total column. If you have a line that’s only for revenue clear out the Amount column. If you have a line for both, put your expense estimate in the Amount column and your revenue estimate in the Total column. You can use the Markup column to help you determine the revenue (you can use either a $ or % for markup).
Another bogus email that appears to be from Intuit about "Intuit Secure Software" is making the rounds. It isn't from Intuit and is likely a spam/phishing and/or virus email. DO NOT CLICK THE LINKS!! Forward it to firstname.lastname@example.org and then delete without clicking anything.
Notice the mispelled words, bad grammar, and non-standard USA dates. When supposedly coming from a large company like Intuit, these are clear signs that the email isn't legitimate.
ATTENTION: Read this message up to the end. You will mislay access to your account on Intuit homepage without points described below,Because of the growing number of attemptsto hack the clients accounts we are doing everything to improve the technology of our security system. Thats why you need to do these points to improve the security of your computer. Please complete all the points of this direction:
- Remake your password on your private office at least once a month.
- Install and upgrade your antivirus constantly.
Do not share login and password from our service to other people.
- Do not install widening to your browser from the unknown providers.
- Download and install Intuit Secure Software, which defends your browser from viruses done to steal data (usernames, passwords, etc.). Also it will give additional security when working with a private office and your financial information. ATTENTION: Starting with 26 of April 2010 you wont have an access to the services of our company without an installed Intuit Secure Software.
System requirements :
- Mozilla FireFox 2.0 and above
- Windows XP, Vista, 2000, 2003, Seven
- Internet Explorer 6.x, 7.x, 8.x
ATTENTION: You will not be able to use our service without update from 26 of April 2010
· Intuit Secure Software for Quickbooks Users
· Intuit Secure Software for Intuit Merchant holders
· Intuit Secure Software for PayCycle customers
· Intuit Secure Software for Quicken users
If you are not Microsoft Windows user you can use our services as usual.
Intuit has extended their 1099-MISC service so that we can assist late filers. You can now sign up for our 1099-MISC service through April 25, 2010 and E-File through April 30, 2010. With our service, you can print and e-file 1099-MISC forms for $25 for up to 50 contractors. Additional forms are $3 per form.
Forms submitted after March 31st are subject to IRS penalties. The IRS will notify you directly of any late fees.
Once you have all your classes setup, make sure to use the appropriate class on all of your transactions. There's a special Profit & Loss by Class report in Reports > Company & Financial. You should also use the Profit & Loss Unclassified report to add classes to any transactions you may have forgotten to enter a class on. You can also filter just about any report by class by clicking Modify Report, selecting the Filters tab and choosing Class in the Filters box.
Ruth, I feel like I will need some regular help like this for a while. Everything is new to me, and I don’t have the accounting background. How do you work with your other clients? Given that the business is brand new and small, I want to be careful with spending but consider your time well worth and investment.
However, there are times when you receive a non-customer check; for instance, a vendor refund. In this case, you’d use the expense account you used when you paid the vendor. This reduces the expense instead of increasing revenue.
The easiest way to fix this is to delete the additional deposit lines you entered manually below the lines that were created by the selections you made from the Payments to Deposit window. The total for each deposit should match what you actually deposited into the bank. In the example you sent me, you probably entered both the third and fourth lines manually. Delete them and then select the checks in the Payments to Deposit window.
To recap, the steps are:
1. Customers > Create Invoice for checks you’ll receive at a later date
2. Customers > Receive Payment for checks in hand with an invoice
3. Customers > Enter Sales Receipts for checks in hand without an invoice
4. When you are actually making a deposit at the bank, go to Banking > Make Deposit and select all the checks you’re depositing. If you received a non-customer check, add it as a separate line on the deposit. Make sure that the total on the deposit matches what you’re actually depositing into the bank.
If this doesn’t make sense, I can remote in and clean it up for you.
If both your companies are sole proprietorships, you can use one QuickBooks file and create classes to track their separate revenue and expenses. This is particularly handy if you’re using the same checking and/or credit card accounts for both businesses. Having separate files sharing a checking account would be a bookkeeping nightmare! If classes aren’t turned on in your file yet, go to Edit > Preferences > Accounting > Company Preferences and check the box next to Use class tracking. Then go to Lists > Class List, click the Class button and select New and create a class for each of your businesses.
You should book your equipment purchases to a fixed asset account. If you know for certain you’ll be fully depreciating them using Section 179, you can also create a depreciation expense offset by an Accumulated Depreciation fixed asset account (which always has a negative balance). You can either do this as a journal entry (debit the expense account and credit the accumulated depreciation account) or right on the bill or check you used to purchase the equipment. In this case, you’d enter a positive amount for the equipment fixed assets account, a negative amount to the accumulated depreciation account, and a positive amount to the expense account.
I’d call the depreciation expense something like Section 179 Depreciation so it’s clear what it is especially if you have any regular depreciation that can’t be fully depreciated using Section 179, like vehicles.