QuickBooks Asia

Can you give me the Sales by Rep report for this quarter?

    “Jane, can you give me the Sales by Rep report for this quarter?”

    “Sure. But Boss, can you give me few days to prepare?”

    “Why you need few days? I need it later for the Sales Meeting.”

    “Sorry, I can’t. I need to sort them out and prepare it in a Spreadsheet.”

    

Do you have the similar problem?

QuickBooks can help.

You can add your employees, the salesperson, as a Rep. Then, in every invoice; you select the Rep for the case into the Rep field. Next, from either ‘Sales by Rep Detail’ or ‘Sales by Rep Summary’ report, you can view the sales generated by individual salesperson (Rep).

Besides, you can set the default Rep for each customer in the Customer Profile page. When creating invoice for the customer, the Rep for this customer will automatically pulled out into the invoice. This method will reduce the mistake of selecting wrong Rep for the invoice.

Classification of Payroll Expenses

How can you classifying your Payroll Expense into different departments?

To classifying your payroll expenses in QuickBooks, first you need to preset a class type in your employee profile. Under the Employee’s profile page, select ‘Payroll and Compensation Info’ from the ‘Change tabs’ drop down list, and then select a class type for this employee from the ‘Class’ field. In this case, we use ‘Sales’ class for this employee.

Starts your scheduled payroll as usual, the salary expenses such as Wages, Addition and Employer Contribution will be grouped into the correct class which has set in the employee’s profile. You can see the classification in the ‘Profit and Loss by Class’ report.

If you have set any ‘Deduction’ payroll item type in the employee’s profile, the deduction such as CPF Contribution by the employee will not class as according to the preset class type.

In QuickBooks, Class can only be use in Profit and Loss accounts and not Balance Sheet accounts.

Example: 

    Wages is $1,000.00 a month

    CPF Employer (Employer Contribution) is $145.00

    CPF Employee (Deduction) is $200.00

The double entry for this transaction will be:

    Debit: Wage Expense (Profit & Loss): $1,000.00

    Debit: CPF Employer (Profit & Loss): $145.00

Credit: CPF Payable (Balance Sheet, for CPF Employer): $145.00

Credit: CPF Payable (Balance Sheet, for CPF Employee): $200.00

Credit: Bank (Balance Sheet): $800.00

Therefore, when you presented the Profit and Loss by Class report, expenses such as Wages ($1,000.00) and CPF Employer ($145.00) will show in the report but not the rest of the payroll items that links to the Balance Sheet accounts.

Maximum number of list items and transactions in QuickBooks Asia 2009/10

Few days ago, while I was browsing the Reckon’s FAQ’s, I discovered this useful information and I think QuickBooks user will benefit from it.

Under Reckon’s FAQ ID: Q11873, it stated the Limitations in QuickBooks QBi 2008/09 (that is Asia’s version 2009/10).

Maximum number of transactions:

QuickBooks can handle a maximum of 2 billion transactions. The maximum number of transactions is limited more by your computer’s disk space and memory than by QuickBooks.

Maximum number of items in each individual list:

QuickBooks Accounting to QuickBooks Premier Version:

    Account List: 10 000

    Name List *: 14 500

    Item List: 14 500

    Class List: 10 000

    Terms List: 10 000

    Customer Type List: 10 000

    Shipping Method List: 10 000

    Customer Message List: 10 000

    Payment Method List: 10 000

    Memorised Transaction List: 14 500

    Memorised Report List: 14 500

    Template List: 10 000

    Payroll Item List: 10 000

    To Do Note List: 10 000

    Job Type List: 10 000

    Sales Rep List: 14 500

    Price Level List: 100

    Tax Code List: 10 000

    Currency List: 10 000

    Attribute Definitions List: 10 000

    Vehicle List: 10 000

    Workers Comp Code List: 10 000

    Billing Rate Level List: 100

    Payment Template List: 10 000

    U/M Set List: 100 000

    Payroll Schedule List: 200 

Note:  * Employees, Customers, Suppliers and Other Names added together cannot exceed the 14 500 combined.

Print Pay Slip from QuickBooks

From Employee Centre, click the Print button and select ‘Print Pay Slips’ feature.

In the Print Pay Slips window, ensure the bank account and date range is correct. You have an option to change the Payslip style to either:

• <Standard – One per page>
• <Standard – Two per page>
• <Standard – Three per page> or 
• Quicken Standard Pay Slip.

Note:

Since this payroll feature was designed for Australian market, the Year-To-Date figure will be re-set to zero on 1^st Jul (Australia’s payroll year is from Jul to Jun).