Springing into Updates & Webinars

March 1, 2017 at 1:47 PMJoshua Goldberg

Hey Cruncher's! Hope everyone's 2017 is starting off well! Here at Numbercruncher, we've been busy between our First Client Retreat, that just passed & getting our newest product, Order Time, ready for launch!

Our First Client Retreat was a HUGE success & everyone in attendance had a great time, learning everything there is too know about All Orders & networking with fellow Numbercruncher Customers. If you weren't able to attend this year, make sure you keep your eyes out for information on next years Client Retreat, happening in February 2018!

 All Orders Update 6.2.14

Numbercruncher has released update version 6.2.14 for All Orders. Since the last major update we pushed out was 6.2.10, 6.2.14 covers all the release notes from the past couple minor updates (6.2.11, 6.2.12 & 6.2.13). Please find all the release notes for 6.2.14 below. To update, please click HERE or visit Numbercruncher.com --> Support --> Software Updates --> All Orders Version 6.2.14

- Added All Orders Features:

* New Preference to allow Item Costs per Vendor to be entered in the Purchased as Measure Cost

* View Line #'s on Documents

* Currency & Exchange rate columns are now available on all Document Lists

* Checkbox on Location to Include/Exclude their Quantities from the main Item List

* Preference to ignore QuickBooks Errors stating that a User has updated their information in QuickBooks

* Payments can be added to Invoiced Ship Docs

* Ship Doc Ref is Editable, even after being Invoiced/Shipped

* Preference to hide Standard Cost & Discounts on the Purchase Order

* Linked Ship Docs/Customer Returns on the Ship Doc/Customer Return Screen

* Allow Payments to be processed in the Gateway, even after posting to QuickBooks

- Fixed All Orders Features:

* Division by zero error on orders with $0 totals and Discounts assigned

* Overflow error after selecting a Group on the Item screen

* Consignment Customers not loading

* Shift + Z shortcut preventing Capital Z from being typed on the screen

* Adding a new Attribute to a style making inactive styles, active again

* Emails unable to send from the List without an email assigned to the Customer Account

* Package Type assigned to Items not showing in the Shipping Estimator when launched from the Sales Order

* Package Type weight added to weight total in Shipping Estimator

* Cannot delete default form values assigned to Customers/Vendors

* Discounts not calculating properly for some Customers

* Custom fields for Kit selection Items not editable

* Repair Orders send to QuickBooks not picking up the Proxy Items

* Back Order column on Sales Orders not updating as Quantities are entered

* Error adding new Yes/No Items to Kits on the fly

* Foreign Currency Prices on Quotes using Price Levels changes with Exchange Rate update

* Changing the Cost on a Sales Order updates the Cost to keep the Discount the same when the Discount is what should be changing

* Handshake errors when getting UPS rates

* Leave the Ship Doc number off the Invoice memo in QuickBooks, if the Invoice number matches the Ship Doc number

* Errors trying to create Vendor Returns from Repair Orders

* Linked Sales Orders created from Repair Orders not showing in the list of Linked Documents

* Payments with open amounts when the entire Payment has been used

* Purchase Order Statuses on Sales Orders not showing fully Received, when it is in fact, fully Received

* Shipping estimate rates defaulting to multiple packages on quotes/orders

* Item type not valid when trying to add a job to a customer return

If you need help installing the update, please visit the Update Setup Instructions Page, located on the All Orders Version 6 Update Page (View directions on accessing the update page, above) or contact Support to schedule an update appointment

All Orders Weekly Webinars

After the success of our Client Retreat, Numbercruncher.com has decided to launch a FREE Weekly Webinar Program with our In-House Trainer, Veronica! Each week will feature a different in-depth, hour-long LIVE training demo conducted via teamviewer software. These webinars are currently for existing Numbercruncher Clients and are limited to five participants each week, however we have plans to expand the number of weekly participants & open the webinars up to non-Numbercruncher customers. Participants will be required to preregister for the event, no later than 24 hours before the webinar starts. More details on the Webinars & Registration process will be announced in the coming weeks, but if you are interested in more information or would like to request a topic to be covered, please email jgoldberg@numbercruncher.com

Posted in: AllOrder | Features | General | Maintence | News | Order Time | Retreat | training


Why does QuickBooks show Accounts Receivable, when it's on a Cash Basis?

March 1, 2017 at 12:59 PMJoshua Goldberg

The best way to begin this blog topic is to discuss what on earth are we talking about?

Accrual Basis is a bookkeeping method in which you regard income or expenses as occurring at the time you ship a product, render a service or receive a purchase. In Accrual accounting, the time when you enter a transaction and the time when you actually pay or receive cash, may be two separate events. An Accrual-Basis report shows income regardless of whether your customers have paid their invoices and expenses, regardless of whether you have paid all your bills

Cash Basis is a bookkeeper method in which you regard income or expenses as occurring at the time you actually receive a payment of pay a bill. A Cash-Basis report shows income income, only if you have received cash and expenses. If you have not received a payment for an invoice, a Cash-Basis report does not include the income

What's the difference? The Cash accounting method is very straightforward: When cash comes in the door, we record it as revenue & as cash goes out the door, we record it as an expense. The Accrual accounting method is a bit more complicated. With the Accrual method, you need to record revenue when you earn it. For example, you ship a customer on net 30 terms, Using the Accrual method, revenue would be recorded when the product ship, whereas in the Cash method, revenue is recorded when the customer pays after the 30 days.

Likewise, when you purchase an inventory item, your Bill, Check or Credit Card charge will debit the item's Inventory Asset account and credit your Accounts Payable, Bank or Credit Card account. It is not debited to an expense account because (a) it is an asset that you can sell for future benefits & (b) you record the expense to match the income. When you ultimately sell the inventory, QuickBooks will record Revenue and Cost of Good Sold.

So if you are using the Cash Method, you would expect there to be no Accounts Receivable, right? That is not always the case, especially if you have Inventory. Recall that when you create an invoice, QuickBooks records both the Revenue and Cost of Good Sold, but since you are on the Cash Method, Revenue is not shown your Profit & Loss report until you receive the check from your customer. But it would seem right to not record the Revenue, yet still record Cost of Goods Sold, so QuickBooks will temporarily "plug" that amount into your Accounts Receivable. It would make a lot more sense to plug that back into Inventory Asset, but QuickBooks is QuickBooks.

Here are some helpful hints:

The best way to track your Inventory Purchases is to run the Inventory Valuation Summary/Detail reports for all dates:

- Accrual-Basis reports will count Sales as of the Inventory Date & Count Expenses as of the date the goods or services were received

- Cash-Basis reports will provide the reader with a history of cash inflow & outflow

- Under Cash method, Income is reported in the year it is received & expenses are generally deducted in the year they are paid

QuickBooks automatically sets itself to the Accrual Method of accounting because the Generally Accepted Account Principles (GAAP) basis requires the Accrual Method. But since the GAAP is what's generally accepted & not what's required, you are able to customize your QuickBooks to record in the Cash Basis instead.

Although you may have your preferences set to Cash-Basis reporting, some reports will automatically default to an Accrual Basis. Since Accrual Basis is the more common of the two types of accounting method, QuickBooks defaulted the Profit & Loss Report to this method. If you would like to be able to run your Profit & Loss Report without having to customize it each time, you can setup and save a customized report

 The process for customizing your Profit & Loss Reports differs in QuickBooks Desktop & QuickBooks Online

 - In QuickBooks Desktop:

- Click on Reports Tab

- Run the Profit & Loss Report

- At the top left of the Report, click on the Customize Button

- In the pop-up window, set the Account Method to Cash Basis

- Click Run Report

 - In QuickBooks Online:

- Click on Reports to open the Report List page and select the Report you'd like to view

- At the top, click the Customization button

- In the new window that opens, go to the General section and then note which Accounting Method is selected

- Click to select a new Account Method

- Make any other necessary customizations and click Run Report

Your Profit & Loss Report shows the Sales of Product Income accounts and the Cost of Goods Sold (COGS) accounts that are associated with your inventory-enabled Product/Service Item. COGS is an account that reflects the cost of materials and goods held in inventory and then sold. When you sell an item from your inventory, COGS increases by the amount you paid for that item when you purchased it. The difference between the income from the sale & the increase in COGS is the Gross Profit of the sale of that item

Posted in: AllOrder | Features | General | Maintence | News | Sales Order | training