Quickbooks - Anyone go from '99 to '01?

Discussion in 'Business Operations' started by Lawn-Scapes, Nov 5, 2001.

  1. Lawn-Scapes

    Lawn-Scapes LawnSite Silver Member
    Messages: 2,810

    Do you like it better? Any major differences.. what are they?

    Does 2001 carry over a previous balance to the new invoice? This is a feature I'd like to see. It's a pain in the ass to have to do invoices and statements...
  2. Kent Lawns

    Kent Lawns LawnSite Senior Member
    from Midwest
    Messages: 870

    We went from 99 to 00 to 01.

    Layout is different.

    More options - none earthshattering.

    And NO! you cannot carry balances over onto a new invoice! - A feature this industry sure could use!

    (Spent most of my day managing statements and cleaning up accounting.)
  3. HBFOXJr

    HBFOXJr LawnSite Bronze Member
    Messages: 1,712

    I'm getting ready to change from a true double entry system (Dac Easy) to Quick Books Pro 2001. The terminology of QB is a little different than generally accepted accounting terms. What you guys are talking about is called "balance forward acctg" where at the end of a month all unpaid invoices just get rolled into one past due balance.

    The other method is called "open invoice", I believe it's "true invoice" in QB. Each time a payment comes in it must be recorded against an outstanding invoice, not just the account balance.

    Take it from me, open invoice is the best way. There will be times when confusion and disputes arise about what has been paid and what is not and it is easy with open invoice and a nightmare if you just use the old balance method.

    QB can handle things both ways.
  4. Lawn-Scapes

    Lawn-Scapes LawnSite Silver Member
    Messages: 2,810

    Yeah... Balance forward. Why can't the two interact?

    Yes the payments get recorded against outstanding invoices. Quickbooks does it automatically. I don't see the benefit?

    Like I said above.. I don't see the benefit. When you send a statement to a customer for an outstanding balance, the statement does not show what payment was distributed to which invoice... It just shows invoice totals, payments made and balance due.

    I don't understand.. handle what both ways?
  5. lawnMaster5000

    lawnMaster5000 LawnSite Senior Member
    Messages: 591

    I am a little confused on what exactly you guys are talking about but i use quickbooks for 100% of my record keeping. With all my mowing stuff i never use invoices. After everyday of mowing I enter "statement charges" these are entered into the Accounts Recievable window directly and are not assigned an invoice number. when a statement is printed it shows the job description along with all payments applied during the period(not to specific 'invoices').

    quickbooks allows you to enter payments without applying that payment to any specific item and still calculates the clients ballance correctly.

    If this is not helpfull, ill be happy to try again, just clarify for me a bit.

    I think you will find it worth the upgrade i did.
  6. Lawn-Scapes

    Lawn-Scapes LawnSite Silver Member
    Messages: 2,810


    You just have another way of using QBs... which is news to me.

    So you either click on the customer register or go to the menu-activities-enter statement charges and enter your info there... right?

    That looks interesting.. I think I'll give that a try.
  7. Lawn-Scapes

    Lawn-Scapes LawnSite Silver Member
    Messages: 2,810


    Thanks for the info. I think this may be the way I'm going to do things for next season. It's so much easier.

    Unless someone gives me a good reason not to...
  8. Lawn-Scapes

    Lawn-Scapes LawnSite Silver Member
    Messages: 2,810

    Maybe I found one already.

    When you print statements will it show up in the reminders list (or anywhere for that matter) as money owed or overdue or to be printed?
  9. HBFOXJr

    HBFOXJr LawnSite Bronze Member
    Messages: 1,712

    More accounting lessons, not QB info.

    Some of you may find that some customers only pay "invoices" not statements.

    An invoice is a bill with a unique identifyer, frequently a serial number, for service(s) rendered. It contains the payment terms and is the request for the money owed.

    A statement is a listing of what invoices are owed aand for how long. They do not contain the detail of what each invoice was for.

    One reason for doing real invoices and statements could be as follows. Lets say you bill monthly for a maintenance contract. You send a "statement" each month with the appropriate charge on it. Customer doesn't pay for 65 days and then sends a payment equal to 1 months payment. If your terms are net 30, is he 5 days late or 35 days late. Do you suspend service or not?

    If you billed $50 for shrub trimming and $50.00 for mowing at 2 different times in 2 different months and he pays $50, what service was payed for?

    You can put each weeks cut and whatever else was done for the month on 1 invoice and print it at the end of the month. 1 piece of paper for each customer. Then only print statements for those customers overdue. Then they can back track in their paper work to find the unpaid invoices or say they didn't get them or what ever.

    When you buy something with a credit card you get and invoice on the spot and a statement at the end of the month.

    Hope this helps.
  10. lawnMaster5000

    lawnMaster5000 LawnSite Senior Member
    Messages: 591

    hmm, well I think I know what you are asking. When using a "due on recipt" billing system the payment will be due the date the statement was printed but not before. The accounts recievable will however be adjusted for the date service rendered not on the date of print.
    If you use a net/30 billing then QB will add up everything printed on say 10/30/01 and make that amount due on 11/30/01. After 11/30/01 the customer will be past due.

    For example:
    I enter my daily records into the accounts recievable record (via memorized transactions [ctrl T]). I send out statements every month on the 15th and payment is due on the 1st of the month following(there is a way of making it set the date automaticaly.) So services provided from 10/15 till 11/15 will show up on the 11/15 statement and will not be due untill 12/1. After 12/1 the amount from 11/15 statement and any prior amounts will be overdue and properly reflected in QB.

    To address the issue of statement charges v. invoices.
    For any regular services that only require a one line description i am able to use statement charges and the description will be printed directly on the statement without the need of an invoice.

    But for all other charges, example fertilization. It is neccessary to use an invoice so that you are able to itemize for the customer. I put on the invoice exactly how much of what was applied along with how much i charged for my labor and other expenses. Invoices are also due on the first of the month(just my preference) and I send the invoice to the customer along with the regular statement that they recieve from me. The invoice includes only the one fertilization where the statement is a "statement" of all debits and credits to the account for statement period. The statement will reflect the invoice only as a number reference where the statement charges will include as discription as you have entered.

    Hope this all is understandable, and helpfull. There are alot of different ways of doing things within quickbooks but this is what i find easiest for myself and i believe for the industry.
    --on a side note, i have an seperate items for each customer (mowgoedeker or leafGoedeker) so that way i can set the price of that item and then just click the item each week or as I do use memorized transactions to enter the services. this way you can track exactly the services you provide for each customer and each job for that customer.

    Hope this all is understandable, and helpfull. There are alot of different ways of doing things within quickbooks but this is what i find easiest for myself and i believe for the industry.

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