QuickBooks Asia

Setting up selling price for items to be inclusive of GST

Software: QuickBooks Canadian version

QuickBooks does allow user to set their selling price to be inclusive of the GST. If occasionally you need to include your selling price with GST, during the preparation of Invoice, you can simply select the checkbox “Amounts include tax” in your Invoice window.

However, if permanently you need your selling price to include GST, then, you have to set it up in both your preferences and item profile.

In your Sales Tax preferences window, under Company Preferences, you can set “Allow tax inclusive (gross) prices and costs to be entered”. Next at the item profile, you can set your prices to include Taxes by selecting the checkbox for “Amts Inc Tax”.

Now, whenever you sell this item, the price shown in the invoice window will be inclusive of GST.

Set number of previous companies

You have created more than four company files in QuickBooks, but there are only four company files links appeared on the ‘Previous opened company’ Window (page that you see when you launch QuickBooks without company file). What could be the possible issue?

By default, QuickBooks set the number of previous company link to four company files. You can increase it to twenty (maximum). Although the maximum previous company file was twenty, you are allowed to create more than twenty company files. Just go to File menu and follow by ‘Open or Restore Company …’ to open files that was not in the ‘Open Previous Company’ list.

To edit the number of ‘Previous Companies’ setting, you need to log in to your data file as an Administrator. Then, from the File menu, select ‘Open Previous Companies’ and follow by ‘Set number of previous companies …’ option.

Next, the ‘Set number of previous companies’ window will popped up, in the ‘How many companies do you want to list (1 to 20)?’ field, enter your required number of companies’ file which you like to list.

 

 

Oh! Why my QuickBooks stop ‘Beeping’?

A QuickBooks user just changed to a new computer and her QuickBooks does not ‘Beep’ when recording a transaction. She was frustrated. She called me up, bring in her outsource I.T. person, and asked us WHY?

Why? Why QuickBooks stop ‘Beeping’?

First, you have to check whether you have accidentally disabled the ‘Beep when recording a transaction’ feature in QuickBooks. From the Edit menu, select Preferences. In the Preferences Window, go to General preference, under My Preferences tab, check whether was the ‘Beep when recording a transaction’ check box was un-checked. Just check it if it wasn’t.

However, if still does not ‘Beep’ when recording a transaction, it could be due to hardware issue.

Check whether you have a speaker attached or built in to your computer (According to the I.T. person, this user does not have a speaker for her computer).  How can your computer ‘Beep’ when there isn't any speaker?

The other problem could be due to the volume was not turn on (mute) or could be due to computer sound card issue. These are technical issue, I suggest user check it with their I.T. person.

How can I turn on the multi-currency feature in QuickBooks?

I had a client told me that she just bought a QuickBooks Pro 2009/10 (Asia) edition. The retail box stated it has multi-currency feature, but when she created a new QuickBooks company file, the new QuickBooks Company file does not have the multi-currency feature. What could have gone wrong?

QuickBooks’ Easy-Step Interview does have a question on whether you like to turn on the multi-currency feature, but if you have missed the step, by default, QuickBooks will not turn on the multi-currency feature in your new company file.

So, how can you turn on the multi-currency feature manually?

From the Edit menu, select Preferences, in the Preference window scroll to the Accounting Preference icon and click on the Company Preferences tab. Under the Company Preferences tab, you check the check box for “Use Multicurrency” and set the Home Currency accordingly.

You need to check with your Auditor on what home currency should be set in your accounting software. If you audit your file base on Singapore dollar, then, your home currency in QuickBooks should be set as Singapore dollar.

For QuickBooks US version, the multi-currency feature is under the Multi-Currency Preference icon.

One last thing, before you turn on the multi-currency feature, I suggest you do a back up. You cannot roll back once the multi-currency feature is being turn on.