QuickBooks Reports – Formatting Columns To Show Debit / Credit

 

Often times when we run reports in QuickBooks there is one column with the Amounts. This is hard to read especially when you are for example looking at a Customer Balance Detail:

 

When looking at customer balances, it is much more handy to have the amounts split into two columns – one for payments, and one for Invoices. This way it is very clear to see invoices and payments leading up to the current balance due. So in order to change this (and since by default QuickBooks gives it to you as shown above):

So Click ‘Modify Report’

You will see the modify report dialogue. Once there you are in the ‘Display Tab’ and that is where you want to be. Under Choose Columns, scroll way down and uncheck ‘Amount’ and check ‘Debit’ and ‘Credit’ as shown below:

Then click ‘ok’ and look how much better this reads:

 

That’s it! You’re done. Now you can enjoy hours and hours of reading QuickBooks reports that are easy to read and which give you lots of valuable information!

Today’s Question: Saving QuickBooks for PC to QuickBooks For MAC

 

Hi Seth

Since you are my go-to Qbooks guru, I wonder if you wouldn’t mind answering a personal question for me?   My freelance client wants to get his Qbooks file to his CPA who is out of state.  I tried to use YouSendIt, which would’ve worked fine except I realized the CPA is on a Mac and my client is on a PC.  Do you know of any way to make a Mac formatted Qbooks file compatible with a PC?  Is this even possible?

A CPA with a MAC. This is a first for me! I suppose we can expect to see more and more of this as time goes on. I’ve learned I need to know how to work with both. My Main IT guy here, Ed knows both MAC & PC platforms very well.

Here’s your answer:

You can save a copy for QB For MAC, and you can also copy back from MAC to PC (Round Trip). You can also start with a copy for MAC and convert round trip that way as well. There are a few limitations which won’t affect you for this purpose, but you should be aware of since you are servicing clients, more and more of whom will be using QB for MAC. The MAC version does not have all of the features that the PC version has in terms of customizing forms such as invoice templates. You will lose some of this in translation going from PC to MAC. Going from MAC to PC you can use the custom templates & features, but any invoices that were created on the MAC will need to be opened, the template chosen in the drop down and then the invoice needs to be saved again.

Click on ‘File’ – ‘Utilities’ – ‘Copy Company File For QuickBooks MAC’

Here is a screenshot:

Figure 1 – Convert QuickBooks from PC to MAC

Then you will be prompted of course for a location to save the file. Then send that QuickBooks Backup File via yousendit.

Today’s Question

The Question:

Hello Seth,

Need your advice -

we are sending out samples to our clients – most of the time free of charge or we bill a flat fee.
when entering these ’sales’ in QuickBooks – what would be the best practice?

Our vendors in turn send us samples sometimes free of charge or bill us – whenever sample invoices come in we enter them in an cog account that is called ” samples” and “sample freight cost” -

I have temporarily setup a “sample income ‘ account that books to ’sales’ would that be correct?

 

Here is the answer:

I would actually post an invoice or a sales receipt for the samples you send out (this way your inventory quantities are properly reduced), but enter a selling price of ‘0′ so there will be nothing due. In other words, when you send out samples, you are essentially selling them for ‘0′.

On other side, when you receive samples, you want to enter it the same way as you would for products you have to pay for (so that inventory Quantities are properly increased) but you will be entering them with a cost of ‘0′ and the items will carry whatever selling price they are set up for. If you have to create the item then of course you will set up the appropriate selling price.

If/when you do pay for samples, then yes I would book directly to cost of goods sold.

If/when you charge for samples (assuming they are not counted in inventory), then yes you can set up an item called “Samples” as a non-inventory part and then map it to the income account called samples. If they are counted in inventory then you invoice them as you would on any sale of products.

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