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Entering opening balances in QuickBooks

Entering customer’s opening balances in QuickBooks is not an everyday activity. You will need to enter opening balances into QuickBooks when you first start using your QuickBooks company file. For example if you started a new QuickBooks company file in January, and a customer of yours owed your company £100 on the 31st December, you would need to enter an opening balance for this customer.

To help you deal with customer opening balances I have produced a video showing you how to enter an opening balance for a customer in your QuickBooks file. The video also shows you how to alter a customer balance. For example, when you first created the customer balance you may have thought that the company only had one unpaid invoice. Subsequently you may have found that this customer had two unpaid invoices. This video shows you how to alter the original opening balance.

If you need any further QuickBooks training then we can help you resolve your problems.

This video is recorded in High Definition so that you can watch the video at full screen size at a higher resolution if you want to.

QuickBooks 2010 R3 product update released

QuickBooks have released a new product update, R3. The main changes appear to be concerned with fixing errors in paying high earning directors and providing the new 20% Vat rate in new company files.

Over the next few days you should expect to see a request to install the update when you open up QuickBooks

QuickBooks 2006 payroll will not work next month

As mention back in June, QuickBooks 2006 payroll will not function after 30th September 2010. So if you are using QuickBooks 2006 then you need to upgrade to QuickBooks 2010 very soon.

If you have bought a year’s subscription to QuickBooks payroll then you must upgrade to QuickBooks 2010 to use the rest of your year’s subscription.

You can purchase your new version of QuickBooks 2010 from this website.

QuickBooks 2010 UK release R2 update

QuickBooks UK have released the first update to the UK version of QuickBooks 2010.

According to QuickBooks UK this resolves the following issues

• Supplier BACS Information can now be displayed in the Supplier Report.
• Fixed an issue preventing customer/supplier/Accounts lists to be imported via IIF. These lists can now be imported as expected.
• Fixed an issue preventing some customers’ files from upgrading to QB2010, giving error code: 16148 80868 or 16093 43842.
• Memorized reports containing Units of Measure information will now open in files updated from QuickBooks 2008.
• The EC Sales List now reports the Net amounts associated to the ESS and ESZ (EC Goods on Services) VAT Codes.
• VAT Registration number is prevented from displaying in the S.O Number field on printed Invoices.
• Customers can now use the TAB key to move between the Account, credit, and debit fields when making General journal entries.
• When setting Balance sheet format preferences for a company file, the preferences are not applied to other company files, allowing for each company file to have a custom format preference.
• E-Mailing pay slips to employees paid by BACS is now available.
• Fixed an issue that was causing QuickBooks to crash when users tried to modify the VAT Exception Report.
• Adding a job for a foreign customer now allows you to select the currency for the customer job.
• Fixed an issue preventing customers from filing VAT if they were expecting a refund AND have multiple AR accounts.
• Added the option to view Prior VAT Returns in QuickBooks Simple Start

If you have the QuickBooks Auto Update feature enabled, QuickBooks will ask you to confirm the installation of the latest version. The update was released on Thursday 29th July 2010.

Why has QuickBooks hidden 2010?

Normally when you have a new product your marketing team make sure that the new product looks “new”. I think someone at Intuit must be sleeping. Nowhere on the outside of the QuickBooks 2010 CD box does it say “2010”.

To find a reference to 2010 you need to have bought QuickBooks 2010, unwrapped it and then opened up the CD case. I am not a marketing expert, but surely if you are trying to sell QuickBooks 2010, then the name – “QuickBooks 2010” – ought to be visible on the outside!

If you don’t believe me, have a look for yourselves:-

QuickBooks Pro with 2010 hidden

QuickBooks Pro with 2010 hidden

QuickBooks  Premier with 2010 hidden

QuickBooks Premier with 2010 hidden

Thankfully the QuickBooks 2010 software design team have done a better job than the marketing team!