QUICKBOOKS DESKTOP ENTERPRISE 2017 CERTIFICATION COURSE. Supplemental Guide. Module 1: Introducing QuickBooks Enterprise

Transcription

1 QUICKBOOKS DESKTOP ENTERPRISE 2017 CERTIFICATION COURSE Supplemental Guide Module 1: Introducing QuickBooks Enterprise

2 Copyright Copyright 2016 Intuit, Inc. All rights reserved. Intuit, Inc Headquarters Drive Plano, TX Trademarks 2016 Intuit, Inc. All rights reserved. Intuit, the Intuit logo, Intuit ProLine, Lacerte, ProAdvisor, ProSeries and QuickBooks, among others, are trademarks or registered trademarks of Intuit, Inc. in the United States and other countries. Other parties marks are the property of their respective owners. Notice to Readers The publications distributed by Intuit, Inc. are intended to assist accounting professionals in their practices by providing current and accurate information. However, no assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a client s particular situation. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit, Inc. does not render any accounting, legal or other professional advice, nor does it have any responsibility for updating or revising any information presented herein. Intuit, Inc. cannot warrant that the material contained herein will continue to be accurate nor that it is completely free of errors when published. Readers should verify statements before relying on them.

3 Table of Contents Table of Contents About the Co-authors... 2 Supplemental Guide Overview... 4 Purpose of this Guide... 4 Learning Objectives... 4 Training at a Glance Table... 5 Topic 1: Enterprise Overview... 6 Important Note from the Author... 6 Types of Customers... 6 Subscription Plans... 7 Enterprise Integrated Applications... 8 Subscription Plan Benefits... 8 User Permissions... 9 Topic 2: Inventory Enhancements Build Assembly Improvements Enhanced Inventory Receiving Other Inventory Enhancements Topic 3: List Enhancements List Limit in Excess of 14, Custom Field Enhancements Set Default Classes Disallow Opening Balance Topic 4: Other Enterprise Enhancements Accountant Edition Tools Form Enhancements Transaction Enhancements Reporting Enhancements Guide Conclusion Module 1 Introducing QuickBooks Enterprise 1

4 About the Co-authors About the Co-authors Laura Madeira Named to the Top 10 and Top 100 QuickBooks ProAdvisors Author of QuickBooks Training Books and Videos Advanced Certified QuickBooks Desktop ProAdvisor Advanced Certified QuickBooks Online ProAdvisor Certified in QuickBooks Point of Sale and Enterprise Intuit Premier Reseller Laura Madeira is the owner of ACS, Inc., an Intuit Premier Reseller located in the greater Dallas, Texas, area. She was recently selected, for the second year in a row, to the Top 10 QuickBooks ProAdvisors. Laura is one of the original members of the elite Intuit Trainer/Writer Network. She has been a guest speaker for Intuit for many years. She was also a founding member of the Intuit Customer Advisory Council. Laura is an Advanced QuickBooks certified, Advanced QuickBooks Online certified, Enterprise and Point of Sale certified. Laura is also a Sage Certified Consultant representing Sage 100 Contractor software. Laura is the author of QuickBooks In Depth, an 888+ page reference and training guide. She is also the author of QuickBooks Solutions Guide, QuickBooks Live Lessons: For All QuickBooks Users, 11+ hours of self-paced video instruction, and co-author of QuickBooks on Demand, all offered by QUE Publishing. For over 25 years, Laura has worked with companies of all sizes and from varied industries. Her focus has been on helping growing businesses become more successful by automating internal accounting processes and improving overall business financial reporting. Additionally, Laura is a guest speaker for Intuit, providing national training for thousands of consultants and accounting professionals. She is also a respected author for Intuit, writing technical presentations, materials and documenting competing software. Laura earned her accounting degree from Florida Atlantic University. She enjoys photography, art and camping with her sisters and their families. When Laura is not writing, she enjoys reading a good book or two. More information can be found by visiting her website: : Connect with her on LinkedIn Follow her on Twitter Subscribe to her Blog via RSS Feed Follow her on Facebook Module 1 Introducing QuickBooks Enterprise 2

5 About the Co-authors Bonnie Nagayama, CPA Moraga, CA Bonnie J. Nagayama manages a practice that provides only QuickBooks products and services. Bonnie has been using QuickBooks since version 1 for DOS and version 3 for Windows. She supports all the various QuickBooks products, but is most passionate about QuickBooks Enterprise and the option it now provides for businesses as they grow. Bonnie has been a member of the QuickBooks ProAdvisor Program since its inception, is an Advanced Certified QuickBooks ProAdvisor, Certified QuickBooks Enterprise ProAdvisor, Certified QuickBooks Online ProAdvisor, Intuit Solutions Provider and one of the charter members of the Intuit Trainer/Writer Network. She has written and recorded numerous courses for Intuit Academy and the ProAdvisor Certification Team. She has written and presented all of the CA CPA Education Foundation courses on QuickBooks from 1997 to 2016, and presented at many of the QuickBooks Consultant Conferences such as Scaling New Heights and the Sleeter Group events. Bonnie had both public accounting and industry experience prior to founding McWilliams & Associates, Inc., in Her singular focus is on helping accountants and consultants who support clients using Intuit products and services as well as related integrated applications. Her controller background and CPA certification are a perfect blend to bridge the gap between what the client needs and what their accountant requires. She offers practical solutions and alternatives so both sides can effectively use QuickBooks to provide a situation that works for each party. Bonnie also served in the role of Team Lead Writer for QuickBooks Enterprise 2015 Certification. Module 1 Introducing QuickBooks Enterprise 3

6 Overview Supplemental Guide Overview PURPOSE OF THIS GUIDE From the recorded session, you learned how QuickBooks Enterprise fits into the QuickBooks Desktop products as well as details about the many features available only to those who use Enterprise. The information presented in this handbook is intended to help you continue the learning process. Note that the focus of this module is on the things that are different from the QuickBooks Pro and Premier products. It is not meant to be comprehensive for all the Enterprise features. The screen shots and examples were created using QuickBooks Enterprise 2017 and many are from the Sample Advanced Inventory file installed with your QuickBooks Enterprise software. LEARNING OBJECTIVES In this module you will review information and complete hands-on activities related to the following learning objectives: Determine where QuickBooks Enterprise fits within the QuickBooks product line Analyze inventory features to solve client needs Differentiate list management in QuickBooks Enterprise as compared to other QuickBooks Desktop products Recognize additional QuickBooks Enterprise features that are different from other QuickBooks Desktop products Module 1 Introducing QuickBooks Enterprise 4

7 Overview TRAINING AT A GLANCE TABLE Use this as a guide to select the specific training you want to cover. TOPICS STEP-BY-STEP WORKFLOWS LEARNING OBJECTIVES 1.Enterprise Overview Types of customers Three levels of subscriptions Specific integrated applications Subscription Plan features User permissions Determine where QuickBooks Enterprise fits within the QuickBooks product line 2. Inventory Enhancements Build Assembly improvements Enhanced Inventory Receiving Other inventory enhancements Analyze inventory features unique to QuickBooks Enterprise to solve client needs 3. List Enhancements List limit in excess of 14,500 Custom field enhancements Set default classes Disallow creation of opening balances Differentiate list management in Enterprise as compared to other QuickBooks Desktop products 4. Other Enterprise Enhancements Accountant Tools Form enhancements Transaction enhancements Reporting enhancements Recognize additional QuickBooks Enterprise features that are different from other QuickBooks Desktop products Module 1 Introducing QuickBooks Enterprise 5

8 Topic 1: Enterprise Overview Topic 1: Enterprise Overview IMPORTANT NOTE FROM THE AUTHOR You may notice one or more references to QuickBooks Desktop Enterprise 2017 during your training in this module. The official Intuit name of the software being taught in this certification is QuickBooks Desktop Enterprise However, in this guide you may see QuickBooks Enterprise 2017 or the name shortened to just Enterprise. If there is a reference to the other Microsoft Windows Desktop products or QuickBooks Online, it will be noted as QuickBooks Pro (Pro), QuickBooks Premier (Premier) or QuickBooks Online. TYPES OF CUSTOMERS Mid-market Businesses Mid-market businesses are significantly different from smaller businesses which use other QuickBooks products. These businesses are stretchers and switchers. A stretcher is a company that has outgrown QuickBooks Online, QuickBooks Pro or QuickBooks Premier. Switchers are businesses that do not use QuickBooks Pro or Premier currently and are looking to make a switch. They need accounting software but they are looking for something cost effective and not too hard to learn. Having the ability to find employees who are already familiar with the software is even better for both groups. Require more robust accounting The complexity of the business requires a more robust accounting solution. During the rest of this module we will look at how the Enterprise feature set will solve this need. Have more users Managing the data flow within this type of business requires more users with a greater degree of control over what they can and cannot do. An example would be granting access to an employee for entering invoices but view-only access for credit memos. QuickBooks Enterprise can handle up to 30 users so additional segregation of duties is possible. Demand more power With the increase in users, the system must have more power to manage the data from a performance perspective Need more capacity Based on the volume and complexity of the transactions, the system needs to have more capacity to handle larger data files, larger list limits and more Module 1 Introducing QuickBooks Enterprise 6

9 Topic 1: Enterprise Overview Expect more assistance From the consultant s perspective, these types of businesses expect more assistance to manage the conversion and implementation while they handle the on-going operations of their business, as well as support after they go live on the new system NOTE: In the Consulting and Implementation module you will learn more about the types of clients who should use QuickBooks Enterprise. Industry Specific Editions The different editions for QuickBooks Enterprise are the same as QuickBooks Premier. Contractor Nonprofit Retail Accountant Professional Services Manufacturing & Wholesale SUBSCRIPTION PLANS QuickBooks Enterprise Subscription Options In late 2014, Enterprise began to be sold as a subscription for all editions except QuickBooks Enterprise Accountant. QuickBooks Enterprise is still desktop software that you install on your computer or server, or that you access via a hosted solution (additional fees apply). It is just the pricing model that is based on an annual subscription. Each subscription includes on-line integrated backups, customer online training resources and: Silver subscription plan includes the software and Advanced Reporting Gold subscription plan adds Enhanced Payroll Platinum subscription plan adds Advanced Inventory and Advanced Pricing features Module 1 Introducing QuickBooks Enterprise 7

10 Topic 1: Enterprise Overview ENTERPRISE INTEGRATED APPLICATIONS Advanced Reporting, Advanced Inventory and Advanced Pricing are covered in more detail in the Add-on module that is part of this QuickBooks Enterprise certification training. SUBSCRIPTION PLAN BENEFITS The Enterprise subscription plans at all levels include the following benefits: US-based Intuit-provided customer support This includes technical support for the product One data file conversion The data conversion includes lists and beginning balances from a competitive software product Product upgrades and version support When a new version of the software is released, all active subscribers automatically receive access to download and install the latest version Online backup for QuickBooks and other files Up to 25 Gigs of QuickBooks and other data can be included in the backup Data recovery service This service is available to try to repair the data file should it become damaged Customer Resource Center This website includes training videos, PDFs and many other training tools to assist a new Enterprise user get up and productive as quickly as possible Module 1 Introducing QuickBooks Enterprise 8

11 Topic 1: Enterprise Overview Preferred rates on QuickBooks Payments Accepting credit card payments from customers is available to new QuickBooks Payments customers only as long as they maintain an active QuickBooks Enterprise subscription. The current pricing is a zero-monthly-fee account with the lowest discount rates that Intuit offers. NOTE: Businesses that purchased Enterprise prior to October 6, 2014, and maintain an active Full Service Plan also have access to Advanced Reporting, Advanced Inventory and Advanced Pricing. USER PERMISSIONS Users and Roles We are going to look at the Users and Roles feature at a high level so you understand how this feature is different from the QuickBooks Pro and Premier products. For a deeper dive, review the content in the Installation and Set-up Module. Other QuickBooks products have very limited options for user permissions. QuickBooks Pro and Premier, for example, have only eight functional areas, plus the ability to allow change or delete in the areas they have access to, that you turn on and off to control user access. Module 1 Introducing QuickBooks Enterprise 9

12 Topic 1: Enterprise Overview Enterprise, however, has the concept of users and roles. With this feature the role is created to control what the user can do and see. There is even a view-only option in QuickBooks Enterprise. These roles have 115 granular user permissions. The role can then be assigned to multiple users. Module 1 Introducing QuickBooks Enterprise 10

13 Topic 1: Enterprise Overview And a single user can be assigned multiple roles. Module 1 Introducing QuickBooks Enterprise 11

14 Topic 1: Enterprise Overview Switching between Multi-user and Single-user Access One of the challenges when working in a file with more users is making sure everyone is logged off. QuickBooks Messenger helped, since you could contact the user and ask them to log out of the data file. However, if they had stepped away and were not logged out, you had an issue, especially if you were not in the same office. In QuickBooks Enterprise the Admin user can log off another user remotely, even if they have unsaved transactions. Module 1 Introducing QuickBooks Enterprise 12

15 Topic 1: Enterprise Overview This feature was further enhanced with QuickBooks Enterprise 2017 to include information on how long the users will have to save their work and an estimate of how long the file will be in single-user mode. With each new release, there is also an attempt to reduce the number of times single-user access is required. For example, with QuickBooks Enterprise 2017, it is possible to have more users simultaneously pay bills, print checks and create invoices from Estimates while working in multi-user mode. Module 1 Introducing QuickBooks Enterprise 13

16 Topic 2: Inventory Enhancements Topic 2: Inventory Enhancements Inventory is an issue of major concern to many mid-market companies. In addition to being one of the larger assets, inventory usually comes with a certain level of complexity. There are many inventory features which are included only in the Enterprise product. In this section we will investigate the Build Assembly improvements that are available. Then we will discuss the Enhanced Inventory Receiving feature. We will also discover the Auto Create PO feature and how that relates to the inventory min and max. There is the ability to set a preference to disallow selling negative inventory. To better manage the margin, Enterprise now has the ability to have the cost display on screen when entering a sales transaction. The ability to attach inventory images is an Enterprise-only feature. We will wrap up by exploring the ability to drop ship to a customer on the purchase order from a sales order that is available in both QuickBooks Premier and QuickBooks Enterprise. BUILD ASSEMBLY IMPROVEMENTS The concept of an inventory build can become quite complex. With Enterprise there are features which help make the process of building inventory items more manageable. In this next section we are going to look at customizing the form template for the Inventory Assembly screen, discuss how Enterprise allows for a variable build whereas QuickBooks Premier does not, learn that the build can also automatically build any required subassemblies to streamline the process and, finally, from the Item list we will look at the Where Used feature. Module 1 Introducing QuickBooks Enterprise 14

17 Topic 2: Inventory Enhancements Inventory Assembly Form Template Enterprise has the ability to create a template for the Build Assembly screen. These are often printed and used as tracking documents. From the Lists menu select Templates. Click on the Templates button at the bottom, choose New then select the Build Assembly template type. Module 1 Introducing QuickBooks Enterprise 15

18 Topic 2: Inventory Enhancements You can see that customizing this form is the same as other forms. All the features are available including the ability to add custom fields from the Item list. Module 1 Introducing QuickBooks Enterprise 16

19 Topic 2: Inventory Enhancements Variable Build Enterprise has the ability to modify the bill of materials at the time of the build. Click the Inventory drop-down menu then select Build Assemblies. On this screen you will see the ability to control the template in the upper right corner. That is the template discussed in the prior section. Module 1 Introducing QuickBooks Enterprise 17

20 Topic 2: Inventory Enhancements What makes this different from Premier is that once you choose the Assembly Item at the top, you have the ability to manually edit the components included in the build. This works very well when there is loss or damage, when a specific component needs to be swapped out, or there are any other changes that occur during the production process. In our example, if you are going to build five of the item 1000-MC and it should require 5 oz. of grease, but in this case it actually took 7 oz., with Enterprise you just edit the amount prior to completing the build. You can also add new components to the build by going to the blank line at the bottom and adding them there. NOTE: While you can edit the quantity required and add a new item on the Build Assembly window, you cannot edit the original bill of materials for a specific assembly from the Build Assembly window. Module 1 Introducing QuickBooks Enterprise 18

21 Topic 2: Inventory Enhancements Automatically Build Required Subassemblies From this same Build Assembly screen, add an assembly item, such as 1500-PM. You notice there is not enough on hand. Check the box at the bottom to automatically build the required subassemblies as part of the process of saving this build assembly for 1000-MC. NOTE: The Automatically build check box will not be displayed unless you are building an assembly that includes subassemblies. Module 1 Introducing QuickBooks Enterprise 19

22 Topic 2: Inventory Enhancements Shortage Report Click Previous a couple of times in the Sample Advanced Inventory file installed with QuickBooks Enterprise to find a pending assembly. Module 1 Introducing QuickBooks Enterprise 20

23 Topic 2: Inventory Enhancements At the bottom you will see two buttons, one is Remove Pending Status and the other is Show Shortage. Click Show Shortage, then OK in the pop-up that informs you this shortage report is only for this build. Review the report of which specific items are short. On the displayed report here, the only item that is shown is this assembly item. Module 1 Introducing QuickBooks Enterprise 21

24 Topic 2: Inventory Enhancements It may seem that items are short, but actually there is sufficient quantity at another site. Look at the Stickers as an example, it shows a negative 9 on hand, but if you click on the icon in the Qty Needed column, you can see the current availability shows 18 in the Distribution Center. Module 1 Introducing QuickBooks Enterprise 22

25 Topic 2: Inventory Enhancements Step-by-Step: Where Used Feature Items and Assemblies The last topic for this section is the Where Used feature, or identifying which assembly or assemblies an item is included in. 1. From the Lists drop-down select Item List. 2. Right-click on an item, for example Stickers, and choose Where Used (in Assemblies). Module 1 Introducing QuickBooks Enterprise 23

26 Topic 2: Inventory Enhancements 3. This will display where this item has been used in assemblies and if this item has been discontinued and there is now a new item for those assemblies. You can choose the Replacement Item, check the assemblies to be updated then click Replace and the change will be made to the assembly item. ENHANCED INVENTORY RECEIVING This feature was added several years ago due to customer requests. It allows for an item receipt as of one date and a related bill as of another date. In theory, this is a better approach since you are no longer changing the date for an item receipt to have it match the bill, or having a bill with an earlier date based on when the item was received. It will preserve the integrity of the inventory and accounts payable balances by date. This change, however, can have significant accounting implications and should be used with caution. Once you turn this on you cannot turn it off. The only way to use the file without the feature turned on would be to restore a backup and re-enter or import transactions that were entered in the previous file. All items on bills will need to have an item receipt entered going forward, even for non-inventory and service type items. When it is turned on, all bills that include an item will have a corresponding item receipt created. You will need to create an item receipt for every bill that will have an item. This is not limited to inventory or inventory assembly items, it is every item, including non-inventory, service and other charge items. The advantage: You can receive items as of one date and the bill as of another. Module 1 Introducing QuickBooks Enterprise 24

27 Topic 2: Inventory Enhancements BEST PRACTICE: Reconcile the Inventory Offset Account on a regular basis and create a report to see what has not cleared. The volume of transactions will dictate how frequently this account should be reconciled monthly at a minimum, more frequently if there are a large number of transactions being processed. Step-by-Step: Enable Enhanced Inventory Receiving Enhanced Inventory Receiving is enabled in Preferences. You must be logged into the file as the Admin user and in single-user mode. 1. From the menu bar, select Edit Preferences Items & Inventory then select the Company Preferences tab. Module 1 Introducing QuickBooks Enterprise 25

28 Topic 2: Inventory Enhancements 2. Choose Enhanced Inventory Receiving, Enable. You will need to acknowledge the warning screens. You will see the verify data screen and, once you create a backup, the software will begin the conversion. Module 1 Introducing QuickBooks Enterprise 26

29 Topic 2: Inventory Enhancements Once it is done, a summary screen will appear with the details of what was done and if the accounts payable balance is the same or not. If there were outstanding item receipts prior to the change, there will typically be a difference. Module 1 Introducing QuickBooks Enterprise 27

30 Topic 2: Inventory Enhancements 3. To find the difference, go to Lists Chart of Accounts and double-click on the Inventory Offset Account. You will see a running balance of zero after groups of transactions, but notice as you get to transactions that are more current, there are item receipts that have not been offset by a bill. During this initial conversion phase you can also tell which item receipts might be the issue because the memo shows Received items (bill to follow) versus those having a memo that contains Auto-created from bill dated, with the date of the original bill. Module 1 Introducing QuickBooks Enterprise 28

31 Topic 2: Inventory Enhancements Step-by-Step: Reconcile Inventory Offset Account The reconciliation feature is a great way to help manage this process. You can reconcile the Inventory Offset Account as often as you like. 1. Choose Banking Reconcile Inventory Offset Account. The ending balance should be zero. Click Continue. Module 1 Introducing QuickBooks Enterprise 29

32 Topic 2: Inventory Enhancements 2. Place a checkmark next to the transactions that match. For example, there is an amount for Philip Pump Manufacturing on the left and several transactions on the right with the same date and vendor. Checking them all will result in the cleared balance of zero. Continue doing this for the other transactions that go together. 3. Once you are done, choose Reconcile Now. The next time you reconcile, those transactions will no longer appear and you can work with the transactions that have not cleared. Module 1 Introducing QuickBooks Enterprise 30

33 Topic 2: Inventory Enhancements Step-by-Step: Reporting on Uncleared Inventory Offset Account Transactions To make this process easier in the future, you can create a memorized report of just those transactions that have not cleared in that account. 1. Choose Reports Accountant & Taxes Transaction Detail Report by Account. Click Customize Report and the Filters tab. Change the date to All, choose Inventory Offset Account then mark the cleared status as No. You may also want to change the header for the report title to Uncleared Inventory Offset Transactions. Module 1 Introducing QuickBooks Enterprise 31

34 Topic 2: Inventory Enhancements 2. You can change Total By to vendor so all transactions for the same vendor are grouped together. This will make the report more useful when reconciling the account. BEST PRACTICE: Memorize the report for future use. OTHER INVENTORY ENHANCEMENTS There are several other Enterprise-specific inventory enhancements that require mention. The topics we will address in this section are: Auto create purchase orders from stock status and shortage reports Inventory max and min levels Disallow selling negative inventory Add on-screen default item cost column to any sales transaction Attach inventory images Module 1 Introducing QuickBooks Enterprise 32

35 Topic 2: Inventory Enhancements Auto Create Purchase Orders Included on the stock status reports and shortage screen there is a button to Create Auto PO s. This makes it more efficient for the purchasing department to keep up with needed inventory levels. On the pop-up window that displays, the items will display with their respective re-order point, quantity on hand, quantity on PO. The Quantity to Order is a calculated column, representing the need to keep inventory to at least 1 unit above the max level (if a max level was entered on the part record). Click Create Auto PO s to generate the purchase order; in the memo field it will add the text Auto Created. Module 1 Introducing QuickBooks Enterprise 33

36 Topic 2: Inventory Enhancements Inventory Max and Min Levels On the item in Enterprise there is the ability to capture a global re-order point as well as a max. NOTE: The Global Reorder Pt is manually added and is not the cumulative total from the individual inventory site min/max levels if Advanced Inventory is enabled for a file. Module 1 Introducing QuickBooks Enterprise 34

37 Topic 2: Inventory Enhancements If Advanced Inventory has been turned on, it is also possible to enter the re-order point and the max by location. Module 1 Introducing QuickBooks Enterprise 35

38 Topic 2: Inventory Enhancements Disallow Selling Negative Inventory QuickBooks has traditionally let you sell more than you have in stock for inventory and inventory assembly type items. When you do this, the item s quantity will become negative. When inventory quantities go negative, QuickBooks has to guess as the value of the inventory sold which can make for financial reporting that is not accurate. To address this issue there is a preference for the inventory item which, when enabled, will not allow transactions to be saved that would result in negative inventory quantities. You can turn on this preference even if you currently have items with negative quantities. NOTE: Enabling this preference will stop positive value inventory quantities from going negative, but it will not prevent inventory that had negative quantity levels when enabled from going more negative. BEST PRACTICE: Before enabling the preference to disallow negative inventory, adjust inventory quantities for any active or inactive items with a negative quantity on hand so to a positive quantity on hand, then turn on the preference. Module 1 Introducing QuickBooks Enterprise 36

39 Topic 2: Inventory Enhancements Step-by-Step: Display Items Default Cost Field on Sales Forms As a way to more easily see if there is an issue with the sales price, it is possible to add the cost column to the sales transaction form templates. You can only preview the cost when the form is displayed in QuickBooks. When you print or send the form, the cost column does not display. Create a template that includes the Cost column. 1. Choose Lists Templates. Either edit an existing template or create a new one. For the example below, double-click on the Adv Inv Product Invoice template. When saved, the name will be Copy of Adv Inv Product Invoice, but if you click Manage Templates you can change the name. Click Additional Customization. Module 1 Introducing QuickBooks Enterprise 37

40 Topic 2: Inventory Enhancements 2. Click the Columns tab to add the cost on the screen, then click OK. Module 1 Introducing QuickBooks Enterprise 38

41 Topic 2: Inventory Enhancements 3. Open an Invoice and click Previous. Change the template to the one you just created. Note the Cost column displays. Keep in mind that this is the cost entered into the cost field on the New or Edit Item window, not the calculated average cost. To verify, on the invoice example there is item 1500-PM. Module 1 Introducing QuickBooks Enterprise 39

42 Topic 2: Inventory Enhancements 4. Choose Lists Item List. Double-click on 1500-PM to open the Edit Item screen. The cost of the item is $3, in contrast to the average cost that is $1, You can also view this information from the Inventory Center. Module 1 Introducing QuickBooks Enterprise 40

43 Topic 2: Inventory Enhancements Attach Inventory Images In Enterprise you can attach a single image of the item in the Inventory Center. However, there is limited functionality with this as this is the only place you will see the image. Module 1 Introducing QuickBooks Enterprise 41

44 Topic 3: List Enhancements Topic 3: List Enhancements One of the many reasons stretchers upgrade to Enterprise from other QuickBooks products is to remove the list limit of 14,500. The list enhancements, however, go well beyond that one issue. These features improve efficiency and provide greater control to those who use Enterprise. List limit in excess of 14,500 Custom field enhancements Set default classes Disallow creation of opening balances LIST LIMIT IN EXCESS OF 14,500 There is a chart which details all list limits for Pro/Premier and Enterprise as well as information on practical limitations at Module 1 Introducing QuickBooks Enterprise 42

45 Topic 3: List Enhancements CUSTOM FIELD ENHANCEMENTS Custom fields is one of the most powerful features in QuickBooks because it allows businesses to capture whatever additional information is important to their specific business. Enterprise takes this flexibility even further by expanding the number of custom fields for Enterprise to 15 for items and 30 for names with a max of 12 for each name type, versus five fields for items and 15 fields for names with a max of seven for each name type in the Pro and Premier products. When setting up a custom field there are two additional options which improve the usefulness: the ability to require the data be captured when creating a new list entry or when entering a transaction, and that data can also be in a specific format such as a number, phone number, date or even a multichoice list. Go to Customer List and double-click on a customer. For the example below, choose Dunning s Pool Depot, Inc. Click the Additional Info tab then click Define Fields. Module 1 Introducing QuickBooks Enterprise 43

46 Topic 3: List Enhancements At this point the screen looks the same as the custom field set up for customers, vendors and employees. You will assign the label for the field, which explains what this custom field will be used for, then the Enterprise-specific features: designate the type of data to be entered in the field as well as if the data is required for transactions or list entries. Module 1 Introducing QuickBooks Enterprise 44

47 Topic 3: List Enhancements SET DEFAULT CLASSES Classes are available in the other QuickBooks Desktop products but there is no way to automate the process of assigning the class when entering transactions. That has changed for Enterprise with a preference which will allow a class to be assigned to accounts, names or items. When the list account, name or item is used in a transaction, the class will be entered automatically. Set the Preference Choose Edit Preferences Accounting Company Preferences (which means you need to be logged in as single-user and have Company Preferences permission). Mark the check box to Assign classes to then choose either Accounts, Items or Names. Module 1 Introducing QuickBooks Enterprise 45

48 Topic 3: List Enhancements Assign the Class to the List Entry For example, from the Customer list, edit a customer and choose the Additional Info tab. The Class option is on the left side; from the drop-down choose the appropriate class. Module 1 Introducing QuickBooks Enterprise 46

49 Topic 3: List Enhancements Enter a Transaction When making an entry, for example a journal entry, when the name is chosen, the Class is automatically populated. Module 1 Introducing QuickBooks Enterprise 47

50 Topic 3: List Enhancements DISALLOW OPENING BALANCE When a QuickBooks data file is created, Opening Balance Equity is used as the offset account for balances captured as names, items and accounts are entered. Once this account is reconciled and reclassified to Retained Earnings it should not be used again. Going forward, new items, loan balances, etc. should all be recorded using the appropriate transaction. To eliminate this problem, with Enterprise there is a preference to disallow entering opening balances when adding a new vendor, customer or job. To set this preference, which by default is not enabled, choose Edit Preferences Accounting Company Preferences. Mark the check box to Hide opening balance fields in Names and Items. Module 1 Introducing QuickBooks Enterprise 48

51 Topic 4: Other Enterprise Enhancements Topic 4: Other Enterprise Enhancements With each passing release, there are more features which differentiate Enterprise from the Pro and Premier products. We have already looked at many examples, but in this section we are going to explore additional features including: Accountant Tools Form Enhancements Transaction Enhancements Reporting Enhancements ACCOUNTANT EDITION TOOLS Companies in the mid-market are more likely to have a dedicated accountant and therefore have a need for accountant-specific functionality. For this reason, certain features exclusive to the Accountant Edition at the Premier level are included in all versions of Enterprise. This includes adjusting journal entries, QuickBooks Statement Writer, Fixed Asset Manager and opening a second company. Also included is reclassify transactions, write off invoices, period copy, troubleshoot prior account balances, review list changes, fix unapplied customer payments and credits, working trial balance, batch void/delete transactions and more. There are resources available as part of the ProAdvisor program to help you become proficient with these tools. If you choose to complete the QuickBooks Desktop Advanced Certification course, you will have the opportunity to take a deep dive into learning about these accountant-specific tools. The mention here is to ensure you know they are included with all editions of Enterprise. Module 1 Introducing QuickBooks Enterprise 49

52 Topic 4: Other Enterprise Enhancements FORM ENHANCEMENTS Customizing the template for various forms is a great first step, but the mid-market client is processing a larger volume of transactions, typically with additional complexity, so additional enhancements are critical. In this section we are going to look at various features that are unique to Enterprise. Total any column on sales and purchases Total fields on last page only Shading lines on forms Sorting any column on forms Search Find & Select Step-by-Step: Total Any Column on Sales and Purchase Form 1. The first form enhancement we are going to look at is the change in the subtotal item. To set up a new subtotal item choose Lists Item List Item New. From the Type drop-down choose Subtotal. Module 1 Introducing QuickBooks Enterprise 50

53 Topic 4: Other Enterprise Enhancements 2. Enter a name; for this example enter Qty Subtotal. The barcode number field is displayed based on the Advanced Inventory preference. Place a check mark next to the columns that should be totaled on the transactions. Amount is already marked; for this example also mark Quantity. Click OK to save the item. Module 1 Introducing QuickBooks Enterprise 51

54 Topic 4: Other Enterprise Enhancements 3. Open an invoice form. Choose Dunning Pool Depot, Inc. for the customer. Click in the Item Code column and add Anchor-12x1 and Cord-12G. On the next row, choose the new Qty Subtotal. Note that both the quantity and amount columns have the total. Module 1 Introducing QuickBooks Enterprise 52

55 Topic 4: Other Enterprise Enhancements Total Fields on Last Page Only The next form enhancement to investigate is total fields on only the last page. Choose Lists Templates. For this example, let s use the same template we created earlier with the name Copy of:adv Inv Product Invoice. Double-click on that template, then choose Additional Customization and the Printer tab. Mark the check box Only show Total on the last page. You will notice it is also possible to print the page numbers, on forms with more than two pages, on the same screen. Click OK twice to save the template changes. Module 1 Introducing QuickBooks Enterprise 53

56 Topic 4: Other Enterprise Enhancements Shading Lines on Forms The other printing enhancement is shading lines on the form. Open an invoice, click Previous then Print. There is a check box to Shade alternate table rows. Check the box and click Preview. Module 1 Introducing QuickBooks Enterprise 54

57 Topic 4: Other Enterprise Enhancements See how much easier that is to read? Note that you might need to actually print it to see the effect depending on your monitor. Module 1 Introducing QuickBooks Enterprise 55

58 Topic 4: Other Enterprise Enhancements Sorting any Column on Forms The next form enhancement we will look at is sorting any column on the forms. With the invoice still open, click on a column heading. There will be a warning that the sorting cannot be undone once you sort the items and save it. There is no way to return the sorting to the original order, only the ability to sort on a different column. Module 1 Introducing QuickBooks Enterprise 56

59 Topic 4: Other Enterprise Enhancements Module 1 Introducing QuickBooks Enterprise 57

60 Topic 4: Other Enterprise Enhancements You can turn off sorting on transaction forms in Preferences. To make the change choose Edit Preferences, click General, then choose the Company Preferences tab. Uncheck Allow sorting on transaction forms. Module 1 Introducing QuickBooks Enterprise 58

61 Topic 4: Other Enterprise Enhancements Search Being able to find a specific entry on a long form can be problematic. With the Search tab on the Create Invoices ribbon, it is possible to find the information quicker. Open an invoice and click Previous. Click the Search tab on the ribbon at the top of the form. In the text box type Manual. Click Search. Notice how it highlights the matches and provides a count and arrows for navigation. Module 1 Introducing QuickBooks Enterprise 59

62 Topic 4: Other Enterprise Enhancements Step-by-Step: Find & Select For mid-market clients, finding the correct item based on entering the item name can be time consuming and troublesome. Enterprise has addressed this by adding a Find & Select pop-up box. 1. Open an invoice and click on the Item drop-down. You will see a new choice of Find & Select Items. Module 1 Introducing QuickBooks Enterprise 60

63 Topic 4: Other Enterprise Enhancements 2. Choose this option and fill in the search criteria. For our example, type Labor then click Search. Module 1 Introducing QuickBooks Enterprise 61

64 Topic 4: Other Enterprise Enhancements 3. The items that meet the criteria will be displayed. Place a check mark next to those you want then click Add Selected Items. Module 1 Introducing QuickBooks Enterprise 62

65 Topic 4: Other Enterprise Enhancements All of the items that were selected will display on the invoice. Module 1 Introducing QuickBooks Enterprise 63

66 Topic 4: Other Enterprise Enhancements TRANSACTION ENHANCEMENTS Do Not Sell to Overdue Customers If a customer has an overdue balance, a common request is to not allow future sales. That need has been answered with a Sales & Customers Company Preference. To change the preference, choose Edit Preferences. Click Sales & Customers from the left navigation bar then Company Preferences. By checking the box, users cannot save a sales transaction for customers who have an overdue balance. Be aware that the setting is all-or-nothing. This same message will display when a transaction is entered for a job that has overdue transactions. However, if one job has an overdue balance and another job does not, you can save a sales transaction for the job that does not have an overdue balance. Module 1 Introducing QuickBooks Enterprise 64

67 Topic 4: Other Enterprise Enhancements Sort on Columns on Receive Payment Screen Mid-market clients may have many invoices outstanding with their customers at any given time. There has been a look up customer/invoice feature for a while, but it is often much more efficient to sort the list of outstanding transactions to find what is needed. Open a Receive Payments form and choose a customer with several outstanding transactions. Module 1 Introducing QuickBooks Enterprise 65

68 Topic 4: Other Enterprise Enhancements Click at the top of any column and notice how the order of the transactions changes.. Module 1 Introducing QuickBooks Enterprise 66

69 Topic 4: Other Enterprise Enhancements Drop Ship to Customers on Purchase Order from Sales Order Open a Sales Order, click on Create Purchase Order. On the Create Purchase Order pop up window, check the box to Drop ship to customer. The Purchase Order will now automatically have the Drop Ship information filled in. Module 1 Introducing QuickBooks Enterprise 67

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71 Topic 4: Other Enterprise Enhancements REPORTING ENHANCEMENTS Reporting is extremely important to the mid-market businesses. Advanced Reporting, which will be covered in another module, has provided more flexibility. But there are tools within Enterprise to address some reporting needs. Improved Job Costing reports ODBC-readable driver built in Combine reports from multiple companies Job WIP Summary The Job WIP Summary shows a summary of job-related information, including estimated and actual cost, the percent complete, and the estimated, earned and actual revenue. The Earned Revenue column is calculated by taking the Est. Revenue x the (%) Complete. This is the amount that should be reported as earned in the business financials. To determine if an adjustment to revenue is needed the ($) Diff column provides the amount that should be adjusted to reported accrual-based financials. Click the Reports drop-down menu, choose Jobs, Time & Mileage Job WIP Summary. Module 1 Introducing QuickBooks Enterprise 69

72 Topic 4: Other Enterprise Enhancements Committed Costs by Job Another Enterprise-specific report is the Committed Costs by Job report. To create this report choose Reports Jobs, Time & Mileage Committed Costs by Job. The estimated cost and actual cost are straightforward. The committed costs are from open purchase orders and you can drill down on that amount. Unpaid wages is based on unpaid timesheets. The total cost is calculated by adding the actual cost, committed costs and unpaid wages together. A remaining cost that is negative means you are over the estimate. A positive amount means that, based on the data entered, you are still coming in under the estimated cost. Module 1 Introducing QuickBooks Enterprise 70

73 Topic 4: Other Enterprise Enhancements ODBC-readable Driver Custom reporting enables you to create your own reports in ODBC-compliant applications such as Microsoft Access or Excel. ODBC stands for open database connectivity and is a standard programming language for accessing data. There is a three-step process: create ODBC users, create an ODBC connection and create custom reports. This tool is included with Enterprise but is beyond the scope of these materials. Module 1 Introducing QuickBooks Enterprise 71

74 Topic 4: Other Enterprise Enhancements Step-by-Step: Combine Reports from Multiple Companies Many mid-market businesses have multiple QuickBooks company files. For this reason, there is a feature in Enterprise to combine reports from multiple files into one report in Excel. This process requires a username and password to open each file when prompted. That user needs access to print under Company and Financial or Accountant and Taxes Summary reports to use this feature. The result will be a column for each QuickBooks company file and a total column in Excel. 1. To create a combined report from multiple files, choose the Reports drop-down option then Combine Reports from Multiple Companies. Choose Add Files then navigate to the *.qbw file you want to include in the combined report. Module 1 Introducing QuickBooks Enterprise 72

75 Topic 4: Other Enterprise Enhancements 2. If there are additional files to be combined, click Add Files again until they have all been added and appear on the list of company files. 3. Place a check mark next to the reports to be included. The choices are: Balance Sheet Standard Balance Sheet Summary Profit & Loss Standard Trial Balance Profit & Loss by Class Statement of Cash Flows Sales by Customer Summary Confirm the date range, report basis and company name to be shown on the combined reports. Module 1 Introducing QuickBooks Enterprise 73

76 Guide Conclusion Guide Conclusion By completing this module, you should be able to: Determine where QuickBooks Enterprise fits within the QuickBooks product line Analyze inventory features to solve client needs Differentiate list management in QuickBooks Enterprise as compared to other QuickBooks Desktop products Recognize additional QuickBooks Enterprise features that are different from other QuickBooks Desktop products You have just covered Module 1: Introducing QuickBooks Enterprise. This Supplemental Guide, in tandem with its recorded module, has been provided to help prepare you for the QuickBooks Enterprise Certification Exam. Continue on to the remaining modules and their related supplemental guides then proceed to the certification exam. Module 1 Introducing QuickBooks Enterprise 74