Sending QB files to your CPA

Q:

Subject:  emailing Quick Books

Hi karen, I found you on line. What are the simple steps of emailing quick books to my cpa?

Please detail step by step, I did not find on your web page. Thank you,

 

A:

I have this page of instructions for my clients on my website.  

You should check with your CPA as to how s/he prefers you to send large files and which type of file s/he wants you to send.

Good luck.

Kerry Kerstetter

Follow-Up:

Thank you so much, happy new year!!

 

 

Lost Passwords

From a client’s bookkeeper:

Dear Kerry,
 
I do hope you can help me, I have lost the password for the client’s books ! I know that the last time I up loaded it to you I included it on the message that accompanied it. I really would appreciate it if you would look it up on your system. If I can get it again, this will never happen again! It has been along time since I worked on the file. We  are working on the data entry for the year end for 2008
 
Thank you so much for your Time

Dear Kerry,
 
Eureka! I found it! Thank you for your time. I will get started on all that I have to do.
 
Thanks Again

My reply:

I'm glad you found your password.

If you are going to be working with a lot of people's QB files, there is a very handy program available to uncover passwords in QB files that I have been using at last once every few weeks for the past several years when clients either forget to tell me the password or tell me the wrong one.  The first thing I do when I open a file with a password is to remove it from my copy because they are a nuisance I prefer to avoid.

You can order it from PassWare at their website.

Good luck.

Kerry

 

 

More QB 2009 Info

Intuit has another new page describing the new features of QB 2009, plus an online test drive.

 

QB 2009 Features

Intuit has publicly released a lot of details on the new features to be included in the QB 2009 programs.

As has been the case every year, if you are considering buying the latest QB program, you should hold off and wait a few more weeks to get the more state of the art 2009 version instead of starting off a year behind the times with the 2008 program.

 

QuickBooks 2009 New Features and Improvements – Courtesy of the less famous NBA, the National Bookkeepers Association. 

Actually, I have been beta testing the Enterprise edition of QB 2009 for the past few months, but have honored the confidentiality agreement and not discussed its features on any of my websites. 

 

 

Date Warnings

Q:

Subject: Question

Kerry, if you’re willing to give us an answer to this, we’d be grateful! We have Quicken 2006. Our bookkeeper, who uses our program, is asking if it is possible to have Quicken prevent or give a warning if, by mistake, she makes an entry with last year’s date. Is that an available option?

Thanks very much,

A:

Because QuickBooks is such a better program, I haven't been using Quicken for a long time. The most recent version I have on any of my computers is Quicken 2003. I just checked the settings available in it and I found the ability to check a box in the Miscellaneous tab of the Register options under Preferences to Notify When Entering Out-of-Date transactions.


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Checking the Help description of this, we see the following:

Notify options
When Recording Out of Date Transactions
Select this to be warned when you're about to record a transaction for a different year.

I'm sure there is a similar selection in the later versions of Quicken, such as 2006.

In QuickBooks, there is an option to be notified of any transaction being posted that is more than a selectable certain number of days prior to or after the current date.


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Good luck. I hope this helps.

Kerry Kerstetter

Follow-Up:

Thanks very much, Kerry. You led me to what I needed!

Updated Website Info

I have updated my website page on how to send me QB data files to include:

(1) Info on the new feature in QB 2008 that allows you to send your QBX file directly from the program to me via a free online Intuit storage service:


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(2) A reminder that clients need to review the financial statements for the tax period before sending me the data files. Too often, clients assume everything is perfectly done just because they have a bookkeeper posting their info and then I have to spend hours of expensive billable time going over everything with them. Catching the obvious mistakes ahead of time will save a lot of time and money in regard to the tax return preparation.

Using QuickBooks with Investments – Interesting article from Intuit’s ProConnection.

Accountant's Copy Rules for QuickBooks 2008 – You can download some guides here from CPA911 on the newest changes to the Accountant’s Copy function.  This is the part of QB that seems to change the most from year to year, sometimes getting better and sometimes worse.

 

Working with QBX files

Q:

Subject: Quick Question

Hi Kerry,

I understand you are probably swamped. I downloaded a free version of Quickbooks. My mother sent me her file with qbx. extension and I cannot open it on my program. I'm kind of panicking because she deleted her original copy on her friend's computer and even removed the program. (She assumed the file she sent would be safe in my hands & on my computer).

 

I can't figure out how to open it for her to do her taxes!!!

 

Any suggestions? I've spent hours for answers on the internet.

 

A:

QBX files are special versions that clients send us to work on while they continue to work on their QBW copies.  There is a sub-menu under the main File menu to access the commands to open the QBX file and convert it to a QBA version that can be worked on.

I'm a little confused as to which version of QB you have.  The only free downloadable version I am aware of is the Simple Start that is not really a full functioned QB program.  It's been a few years since I tested Simple Start; but I don't think it has the ability to work with QBX and QBA files.

If that is the case, you will need a version of the regular QB program that is at least as new as the one your mother used.  For example, if hers was the QB 2005 program, you will need to use QB 2005, 2006, 2007 or 2008.  You won't be able to use an older version of QB to open that data file.  You can either buy your own copy of the program or install your mother's copy on your computer, if she has her original program disc with its installation codes.

Deleting her original QBW file was not a good move. Luckily, the QB 2007 and 2008 programs have a utility built in that allows QBA files to be converted to normal QBW files.  This wasn't possible with any QB program before the 2007 version.

I hope this helps. Good luck.

Kerry Kerstetter

 

Follow-Up:

Thank you so much for taking the time to respond. That is the problem. I don't have the full program - it is the free Simple Start. Yikes, looks like I have to buy one!

 

Thanks again. Much appreciated!

 

 

Importing Quicken data into QuickBooks

Q-1:

Subject: Quicken importing into Quickbooks

Kerry,

I found you information online and it sounds like you are very well versed in these applications.  I got Quicken in hopes I can enter information into it, then import it into Quickbooks so it's in one place.  Can you please let me know how to do this?  I am not well versed in these applications or with keeping books so I can only imagine I will need to turn it over to someone soon anyway, but I want to at least get the information into Quickbooks successfully before hand.

Sincerely,

A-1:

Every version of QuickBooks that I have seen has a built in feature to import Quicken data.  I have done it on several occasions, so I know that it works quite well.

Here is the brief overview from inside the latest QB program:

"You can convert to QuickBooks directly from Quicken 98-2008 and Quicken Home and Business 98-2008. Older versions of Quicken require a preliminary conversion before this one.

The conversion copies your Quicken data to a new QuickBooks company file, leaving your original Quicken data file unchanged for continued use. After converting your Quicken file, you will have two sets of data: your original, unchanged Quicken file and your new QuickBooks company file."

One thing I have encountered is the fact that the version of QB that you use for the conversion has to be at least as current as the version of Quicken that prepared the data.  For example, if you have data produced under Quicken 2005, you can use QB 2005, 2006, 2007 or 2008 to convert the data into QB format.  You cannot use QB 2004 or any earlier version.

This sets up the converted Quicken data into a new QB data file.  You can't import Quicken data into an existing QB file. This means that you can basically do this function once.  If you are for some reason planning to continuously enter your ongoing transactions into Quicken and then import them into QB from there, that is a flawed strategy and won't work.  Once you have converted your Quicken data into a new QB data file, you should then enter all future transactions directly into QuickBooks and stop using Quicken.

Good luck.

I hope this has helped.

Kerry Kerstetter

Q-2:

Kerry,

Thanks very much for the response and info.  It looks like Quicken will not work and we downloaded software that will convert IIF to Excel so that can be imported into QB.
The whole thing is to be able to import transactions into an existing QB file / account.  Is it possible with any application using a conversion or is this a futile quest?

If you are available by phone I would love to take a minute to explain what we're trying to do to see if that's something you might be able to help with / be a good fit for.  It's harder to explain in email especially when I don't understand the jargon very well and haven't worked with the applications.  My colleague does and has so it would be awesome to have you two talk so see if we might need your services.  I would be happy to call you at a convenient time or you're welcome to call me.

Thanks,

Jon

A-2:

Due to my huge backlog, I haven't been able to accept any new clients for the past few years.

On my website page with QB Resources, I have links to some companies that sell file transfer utilities for QB files.

Karl Irvin's: www.q2q.us/index.htm

Big Red Consulting: www.bigredconsulting.com

You might find what you need there.

Good luck.

Kerry Kerstetter

 

 

 

Beware of QB Clean Up Function

I routinely request my clients and their bookkeepers to clean up their QB data before sending it to me to use for their tax returns. I had a shocker a few days ago while reviewing the data file for a client who had recently switched to the QB 2008 program and had sent me his file to use for his 2005 1040.

I sent him the following email:

I downloaded that newest QBX file and tried to set up the main reports I need for the 2005 tax returns. Unfortunately, I wasn't able to get the reports that I need, especially the P&L with columns by Class.

I'm not sure if there was a miscommunication in my general advice to clean up the data files before sending them to me, or what happened. I actually wasn't aware of this change in the program, but it looks like Intuit recently changed the terminology for condensing large data files from the long used "Archiving" to the new term "Clean Up." It appears that you or someone ran this new Clean-Up feature on your data file and it removed all of the details for the 2005 transactions, including all of the class postings. At first, I thought you had just forgotten to include classes in your postings, until I figured out what had happened. I will have to start using a different term than "Clean Up" because I definitely do not want anyone to use that specific function from inside the QB program again. It is very important to retain all of the details; not wipe them out.

Fortunately, I had a copy of the data file that you had sent me back in September from the QB 2006 program. I verified that the totals for 2005 match those in the most recent file, but that older file has all of the details intact for 2005; so I have been using that to assemble the reports for these tax returns.

I created the following screenshot as a warning:

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Software for Realtors

Q:

Subject: Love your website!

Hi Kerry,

I am a real estate broker and in need of a bookkeeping program.  Any thoughts about what is best for my business?

THANKS!

 

A:

Almost all of my clients, most of whom are Realtors, are functioning quite well with QuickBooks.

Check out my QB info on my website.   

Good luck.

Kerry Kerstetter

 

Follow-Up:

Many Thanks!

 

 

 

QuickBooks Savings Voucher

Download this special pdf voucher for savings of up to 20% between now and March 31, 2008.

 

Credit card interest charges

When a client who uses QB sent me her tax info, she had a separate hand prepared list of credit card interest charges for the year with the following note.

I had to add up interest on each statement since credit cards are no longer sending out interest paid at year end.

I wrote this back to her:

You also need to learn how to enter credit card charges and how to reconcile the QB accounts with the monthly credit card statements.  That way, all of the interest charges will be picked up during the year.  It really doesn't matter that many credit card companies don't automatically provide interest paid details at the end of the year if each of the monthly statements has been reconciled through your QB.

  

  

Discounts on QuickBooks Supplies

As a QuickBooks Pro Advisor, I just received a flyer in the mail with coupons to give to clients and readers to receive a 20% discount on QuickBooks checks and supplies.  You don’t need the actual coupons.  You can get the discount by calling Intuit at 1–800–433–8810 and mention Special Offer Code C39741 or order online at:
www.IntuitMarket.com/C39741

This deal expires 12/31/08.

 

Scared of using Quicken 2008...

Q-1:

Subject: Using Multiple Versions of QuickBooks On One Computer?

I just Googled your reply to this question--  except my query was about using 2 versions of Quicken ('04 & '08) on the same computer.

Does your answer apply to these two versions of QUICKEN as well? 

Since I'm not local, and not lucky enough to be your client, I won't impose on your time for details: I'll be satisfied with a simple "Yes", "No", or "I don't know" answer to my question. 

(If "Yes" I'll proceed to do as you suggested with QB, and install Quicken 2008 in its own separate directory as a new file that starts with Jan.1 '08 , leaving my already-installed but no longer Quicken-supported Quicken 2004 version as an archive that dates back to 1994.)

Thanks for taking your time.

A-1:

Just as with QuickBooks, you can simultaneously have multiple versions of Quicken on the same computer, each in its own separate folder.  I used to do that when most of my clients used Quicken, before the QB program improved to the point that I moved everyone over.

I'm not clear as to your objective for having two simultaneous versions.  The only reason I did so, and still do for the dozen or so versions of QB, is so that I can work on other persons' data and be able to send the files back to them to continue to use in their version.  For data files that I have for our companies, I always roll them forward into the most current version of the program.

In your case, if your objective is to have a separate data file for your 1994-2007 data and a new smaller one for 2008 and on, there is really no need to have both Quicken 2004 and Quicken 2008 installed.  I would roll the old data file over into the Quicken 2008 program so that it will be accessible via it.  I would then start up a band new data file for your 2008 and on data.  That will allow you to jump back and forth between the old file and new file from within the Quicken 2008 program 

Of course, you can run both the 2004  and 2008 programs on your computer if there is some other reason, such as the e need to share your data file with someone else who only has the 2004 program.

I hope this helps and isn't too confusing for you.

Kerry Kerstetter

Q-2:

Thanks so much for your detailed answer; it was very helpful, and I appreciate your taking the time.

RE: ".. not clear as to your objective for having two simultaneous versions." 
My intent is to prevent Intuit from wiping out 15 years of  financial records by replacing them with a dysfunctional upgrade that just doesn't work.

From the blogs, support and chat groups about Quicken, it's clear that that Intuit is unique in the amount of hatred and distrust it has generated in a community of customers who continue to use it anyway, despite complaints of greed-inspired buggy updates, crashes and lack of meaningful support.

I've used Quicken since its first DOS iteration, and have been limping along for the past few years with v. 2004, crippled by Intuit's "sunset" policy to enforce upgrading.

Reading thru the blogs I discovered many complaints that Qkn 2008 doesn't work right. Even worse, v.2008 deletes the old version in the upgrade process.So, my intent is to keep my options open by keeping the old version fully functional while testing out v.2008 as a new user.

Unfortunately, in trying to do this over the weekend, I learned that the only way I could keep Q2008 from hunting down and overtaking the old Q2004 files into the update was to keep the 04 files from being found  ... by putting the letter Z in front of crucial 04 files (example: Zqw.exe.) 

So,  I now have a new install of Quicken 2008 in a different directory, and so far it seems to be working. But I doubt that the stand-alone Q2004 program will be workable on the same computer just by erasing the Zss. Well, that's OK, I have fully functional installations of the old 2004 Quicken on a couple of different laptops that I could go back to, if/when Q2008 suffers a meltdown. To be safe, I may start over: by uninstalling both  the 04 & 08 versions of Quicken from my main computer, then using the just-purchased 2008 Quicken Deluxe download to install it as a new program.
Sincerely,

A-2:

Thanks for the additional info on the Quicken programs.  I really haven't been following Quicken much in the past few years as I've focused on QuickBooks.

There was a similar problem with the QuickBooks 2005 program.  It was a big mess and I really have problems when I have to use it for the few clients still using it.  When I discovered the QB05 problems, I advised everyone to hold off buying it and to use the QB04 program instead if they needed a newer version.

In your case, you may want to consider buying a copy of the Quicken 2007 program, which you can probably find for next to nothing on eBay and using that until its support vanishes. 

Good luck.

Kerry Kerstetter

Follow-Up:

Thanks, Kerry

 

I'll do that if v.2008 turns into a problem. Meanwhile I'm muddling thru with the aid of good input from other users.

 

 

 

Using Dollars + Euros

Q:

Subject: Invoicing in EUROs

 

Hi Kerry,

 

I'm supposed to start invoicing my client in EUROs instead of USD. I've noticed that QB doesn't support that in any straight way. Do you have any recommendations how to handle that?

 

thanks

A:

That is a tricky situation.  I've been checking out the message boards around the web to see if there is a way to handle multiple currencies in the same QB data file.  I've seen some mention of multiple currency capabilities in the UK version of QB, but none in the USA version.  I've sent a comment to the official Intuit QuickBooks feedback folks to see what they suggest for a company having to work with more than one currency.  I'll let you know what they say.

I've been trying to think of a way for you to work with this and the only thing I can come up with is to have two separate QBW files; one for the banking checks and deposits that I will use for the tax returns, and another for billing your customers if you like how QB does that.  Since your taxes are on the Cash basis of accounting, the invoices sent out really aren't relevant for tax purposes.  We just need to work with how much has been actually received.  We will obviously need to work with one currency for this, which may mean manual conversions to US dollars for money that you keep in Euros.

You also have the option to do your invoicing with an alternative program that is more suited to Euros.  I understand that such things as VAT are not handled well by QB, so there is probably a program that is more capable of billing for that.  While I have tried to use the QB invoicing for my CPA work so as to better synch up with my bookkeeping, I have never liked how it's handled; so I use a completely separate program, TimeSlips, for all of our billing and then post the actual money received into QB.  It's not as efficient as having everything inside one software package; but it's really not that much more work with the average of around one client check received each day.  Your volume of payments received shouldn't be so high as to make it an unworkable burden.

I hope this helps at least a little bit.  If I come up with any more ideas, I'll pass them along. 

Happy New Year; which you've already beat us to.

Kerry