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New to Quickbooks - Direct entry of A/R from custom application? Check amount editing? Captain Infinity 09-05-2008
Posted by Captain Infinity on September 5, 2008, 10:46 am
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We're moving from Real World to Quickbooks at the beginning of the year, so I'm
playing with it now to get a feel for it. We do all our billing of customers in
a custom application so have no need for Quickbooks' customer invoicing module.
However, I still need to record Accounts Receivable and deposits in Quickbooks,
of course.

In Real World all I do is, on the last day of the month, make a General Journal
entry debiting A/R for the total amount billed for the month and crediting
breakouts to each of the service accounts the company has (5 of them). Then
when each deposit is made I make a checkbook entry that debits Cash and credits
A/R.

I'm not sure if this is possible with Quickbooks. I haven't yet seen a way to
make direct entries into the ledger. A similar situation exists with Payroll; a
payroll service cuts our payroll checks and all we do here is record a lump sum
Payroll amount each week as an outgoing check, and splitting out the amounts for
taxes, insurance, etc. into the ledger with direct ledger entries. The check
amount gets edited in the checkbook each month when the bank statement comes in,
being split out for the cleared checks and the uncleared (the ledger amounts do
not change). So there again is a need to perform direct entry, in the ledger
and in the checkbook as well.

Any suggestions on how to proceed?


**
Captain Infinity

Posted by Haskel LaPort on September 5, 2008, 3:44 pm
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> We're moving from Real World to Quickbooks at the beginning of the year,
> so I'm
> playing with it now to get a feel for it. We do all our billing of
> customers in
> a custom application so have no need for Quickbooks' customer invoicing
> module.
> However, I still need to record Accounts Receivable and deposits in
> Quickbooks,
> of course.
>
> In Real World all I do is, on the last day of the month, make a General
> Journal
> entry debiting A/R for the total amount billed for the month and crediting
> breakouts to each of the service accounts the company has (5 of them).
> Then
> when each deposit is made I make a checkbook entry that debits Cash and
> credits
> A/R.
>
> I'm not sure if this is possible with Quickbooks. I haven't yet seen a
> way to
> make direct entries into the ledger. A similar situation exists with
> Payroll; a
> payroll service cuts our payroll checks and all we do here is record a
> lump sum
> Payroll amount each week as an outgoing check, and splitting out the
> amounts for
> taxes, insurance, etc. into the ledger with direct ledger entries. The
> check
> amount gets edited in the checkbook each month when the bank statement
> comes in,
> being split out for the cleared checks and the uncleared (the ledger
> amounts do
> not change). So there again is a need to perform direct entry, in the
> ledger
> and in the checkbook as well.
>
> Any suggestions on how to proceed?

QuickBooks is a real accounting program and can post General Journal
Entries. Without this feature an accounting program would be useless. Search
help in QB for more information.



>
>
> **
> Captain Infinity


Posted by Scott on September 5, 2008, 5:09 pm
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> We're moving from Real World to Quickbooks at the beginning of the year,
> so I'm
> playing with it now to get a feel for it. We do all our billing of
> customers in
> a custom application so have no need for Quickbooks' customer invoicing
> module.
> However, I still need to record Accounts Receivable and deposits in
> Quickbooks,
> of course.
>
> In Real World all I do is, on the last day of the month, make a General
> Journal
> entry debiting A/R for the total amount billed for the month and crediting
> breakouts to each of the service accounts the company has (5 of them).
> Then
> when each deposit is made I make a checkbook entry that debits Cash and
> credits
> A/R.
>
> I'm not sure if this is possible with Quickbooks. I haven't yet seen a
> way to
> make direct entries into the ledger. A similar situation exists with
> Payroll; a
> payroll service cuts our payroll checks and all we do here is record a
> lump sum
> Payroll amount each week as an outgoing check, and splitting out the
> amounts for
> taxes, insurance, etc. into the ledger with direct ledger entries. The
> check
> amount gets edited in the checkbook each month when the bank statement
> comes in,
> being split out for the cleared checks and the uncleared (the ledger
> amounts do
> not change). So there again is a need to perform direct entry, in the
> ledger
> and in the checkbook as well.
>
> Any suggestions on how to proceed?
>
>
> **
> Captain Infinity

For the receivables, you could set up a customer called something like "All
Customers" and do all invoicing & payments to that name. Then create one
invoice per month allocating all the service accounts, and receive all
payments against that invoice.

It may be easier to avoid the A/R account altogether & just create an asset
account (non-A/R) that doesn't require a customer name - call it Customer
Receivables. Then use that account in the JE just like you used to.

As for payroll, don't use the payroll module, just enter as a journal entry
with the last entry a post to cash which can later be split up between
cleared & uncleared checks.



Posted by Laura on September 5, 2008, 5:58 pm
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>> We're moving from Real World to Quickbooks at the beginning of the year,
>> so I'm
>> playing with it now to get a feel for it. We do all our billing of
>> customers in
>> a custom application so have no need for Quickbooks' customer invoicing
>> module.
>> However, I still need to record Accounts Receivable and deposits in
>> Quickbooks,
>> of course.
>>
>> In Real World all I do is, on the last day of the month, make a General
>> Journal
>> entry debiting A/R for the total amount billed for the month and
>> crediting
>> breakouts to each of the service accounts the company has (5 of them).
>> Then
>> when each deposit is made I make a checkbook entry that debits Cash and
>> credits
>> A/R.
>>
>> I'm not sure if this is possible with Quickbooks. I haven't yet seen a
>> way to
>> make direct entries into the ledger. A similar situation exists with
>> Payroll; a
>> payroll service cuts our payroll checks and all we do here is record a
>> lump sum
>> Payroll amount each week as an outgoing check, and splitting out the
>> amounts for
>> taxes, insurance, etc. into the ledger with direct ledger entries. The
>> check
>> amount gets edited in the checkbook each month when the bank statement
>> comes in,
>> being split out for the cleared checks and the uncleared (the ledger
>> amounts do
>> not change). So there again is a need to perform direct entry, in the
>> ledger
>> and in the checkbook as well.
>>
>> Any suggestions on how to proceed?
>>
>>
>> **
>> Captain Infinity
>
> For the receivables, you could set up a customer called something like
> "All Customers" and do all invoicing & payments to that name. Then create
> one invoice per month allocating all the service accounts, and receive all
> payments against that invoice.
>
> It may be easier to avoid the A/R account altogether & just create an
> asset account (non-A/R) that doesn't require a customer name - call it
> Customer Receivables. Then use that account in the JE just like you used
> to.

I agree with this suggestion. Avoids all issues of A/R in journal entries
that QB has imposed on the user.

>
> As for payroll, don't use the payroll module, just enter as a journal
> entry with the last entry a post to cash which can later be split up
> between cleared & uncleared checks.

One of my clients used your method and I found it made doing bank recs a
PITA.

You might find it easier to record each net check plus a JE for the taxes
paid by the company. This will eliminate the manual tracking of
clear/uncleared checks when you do the bank rec.


Posted by QBConsultant on September 6, 2008, 10:01 am
Please log in for more thread options


>
>
>
>
>
>
> >> We're moving from Real World to Quickbooks at the beginning of the yea=
r,
> >> so I'm
> >> playing with it now to get a feel for it. =A0We do all our billing of
> >> customers in
> >> a custom application so have no need for Quickbooks' customer invoicin=
g
> >> module.
> >> However, I still need to record Accounts Receivable and deposits in
> >> Quickbooks,
> >> of course.
>
> >> In Real World all I do is, on the last day of the month, make a Genera=
l
> >> Journal
> >> entry debiting A/R for the total amount billed for the month and
> >> crediting
> >> breakouts to each of the service accounts the company has (5 of them).
> >> Then
> >> when each deposit is made I make a checkbook entry that debits Cash an=
d
> >> credits
> >> A/R.
>
> >> I'm not sure if this is possible with Quickbooks. =A0I haven't yet see=
n a
> >> way to
> >> make direct entries into the ledger. =A0A similar situation exists wit=
h
> >> Payroll; a
> >> payroll service cuts our payroll checks and all we do here is record a
> >> lump sum
> >> Payroll amount each week as an outgoing check, and splitting out the
> >> amounts for
> >> taxes, insurance, etc. into the ledger with direct ledger entries. =A0=
The
> >> check
> >> amount gets edited in the checkbook each month when the bank statement
> >> comes in,
> >> being split out for the cleared checks and the uncleared (the ledger
> >> amounts do
> >> not change). =A0So there again is a need to perform direct entry, in t=
he
> >> ledger
> >> and in the checkbook as well.
>
> >> Any suggestions on how to proceed?
>
> >> **
> >> Captain Infinity
>
> > For the receivables, you could set up a customer called something like
> > "All Customers" and do all invoicing & payments to that name. Then crea=
te
> > one invoice per month allocating all the service accounts, and receive =
all
> > payments against that invoice.
>
> > It may be easier to avoid the A/R account altogether & just create an
> > asset account (non-A/R) that doesn't require a customer name - call it
> > Customer Receivables. Then use that account in the JE just like you use=
d
> > to.
>
> I agree with this suggestion. Avoids all issues of A/R in journal entries
> that QB has imposed on the user.
For A/R, I agree with a summary sales receipt to a customer called
'monthly' sales or using a non A/R acct as well--either method will
work.

For the payroll, the entries you make should match the actual bank
activity. Hopeully, your payroll service pulls out payroll in 1 or 2
lump withdrawals (not each individual paycheck--otherwise you might
was well be doing payroll yourself. Check into QB Assisted PR for
about 1/2 the cost).

Michelle L. Long, CPA, MBA
Author of: Successful QuickBooks Consulting: The Complete Guide to
Starting and Growing a QuickBooks Consulting Business
Advanced Certified QuickBooks ProAdvisor
National Trainer for Intuit Trainer/Writer Network
http://www.SuccessfulQuickBooksConsulting.com
http://www.amazon.com/Successful-QuickBooks-Consulting-Comprehensive-starti=
ng/dp/1434810690

>
> > As for payroll, don't use the payroll module, just enter as a journal
> > entry with the last entry a post to cash which can later be split up
> > between cleared & uncleared checks.
>
> One of my clients used your method and I found it made doing bank recs a
> PITA.
>
> You might find it easier to record each net check plus a JE for the taxes
> paid by the company. This will eliminate the manual tracking of
> clear/uncleared checks when you do the bank rec.- Hide quoted text -
>
> - Show quoted text -


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