.QBR).
When you get back to your own computer, open each company file that needs the report and import the report from the flash drive (you can delete the company file and the backup file that's on the flash drive).
*** Paycheck Mistakenly Issued to Subcontractor ***
A reader wrote to ask for help. A new subcontractor was inadvertently set up as an employee, and a paycheck was issued. The subcontractor cashed the check and then called to say that the amount was too low (because of the withholding). The reader wanted to know how to fix the situation.
This requires a few steps. First, you must create the subcontractor as a vendor, but the name already exists as an employee. Edit the employee record so the employee name is different (e.g. add the letter X to the beginning of the name), and make the employee inactive. Now you can create the subcontractor as a vendor (and set up the vendor record for 1099 reporting, if applicable).
Void the paycheck, which also removes the liabilities attached to the paycheck. Then create a check to the vendor for the same amount (since the check was cashed). Create another check for the additional money you owe the vendor.
*** Posting Rent Check for Sublets ***
A reader rents a large office space in an office building and has decided to sublet unused space to other businesses. He writes a monthly rent check to the building's management company and wants to know how to post the checks he receives from the two businesses that share the space. He doesn't issue invoices; the checks are just handed over to him.
There are two ways to do this, depending on whether you want to track the other businesses and their history in your sales reports and in the Customer Center.
To track the other businesses, create an item for Rent and make it a two-sided item. You can either configure both sides to post to the Rent expense (resulting in your net expense for rent appearing on the P & L) or post the income side to an Income account named Subleases. Use that item when you write the check for rent, and when you create a sales receipt to receive the rent.
If you don't want to track the other businesses as customers, you can skip the item configuration. When you receive the rent checks, use the Make Deposits window to enter them. Use the Rent expense account (to track net rent), or use an Income account named Subleases to track your rent and the income separately on the P & L.
------ > Nonprofits Year-End Reminder < ------
It's time to think about getting ready for the year-end letter to donors (for your donors' personal tax returns). QuickBooks cannot produce these letters. We recommend the Donor Letters with Details add-on available from www.beyondtheledgers.com. It produces letters in Word format that list donors' total contributions. Each letter optionally includes a table that shows the donor's individual contributions during the year. Another add-on, Nonprofit Donor Acknowledgement Letters, does not offer the detailed listing of individual contributions, and costs less. The customary IRS disclaimer appears on every letter. (Disclosure: We have a business relationship with www.beyondtheledgers.com; we've worked with them to design some of the QuickBooks add-ons they offer.)
------ > Puzzle - Win a Prize < ------
In response to all of you who wrote to say you hadn't seen a puzzle in a long time, here's a new puzzle.
A reader sent e-mail that started with, "Help, I'm going crazy trying to send invoices". Here's what happened. He usually sends invoices weekly, but on this particular week his assistant created the invoices and printed them. All of the invoices printed incorrectly, with a very large top margin (almost 2" deep). The same thing happened when he voided and re-created the invoices. He tried using the Layout Designer but it didn't work. He opened another company file, and he also opened a sample company file, but the same thing happened. If he prints to another printer, including a PDF converter printer, the large top margin is always there. He verified the file and everything is fine.
What's the most likely cause of his problem?
Send your answer to puzzle@cpa911.com.
In addition to the right answer, make sure your e-mail includes the following:
A shipping address for the prize if you win (no P.O. Boxes).
The book you want as your prize if you win - choose one of the following:
- Running QuickBooks 2010 Premier Editions
- Running QuickBooks in Nonprofits
- Excel for Accountants
Answers must be received by November 6, 2009. The winner will be selected at random from the pool of correct answers.
------ > Running QuickBooks 2010 Premier Editions now available < ------
Our sister company, CPA911 Publishing, has released Running QuickBooks 2010 Premier Editions. Updated to include the new features in 2010, the book has tons of tricks and tips for Premier users and for accountants and bookkeepers who want to learn how to incorporate value-added services into their offerings for clients.
The book is on its way to the bookstores (including online stores) and is also available directly from the publisher. More details about the contents are available on the publisher's website (www.cpa911publishing.com).
------ > New Poll - Vote < ------
We have a new poll on the home page of our website (www.cpa911.com). We're trying to ascertain the use of business lines of credit by small businesses.
Here are the results of our last poll (also connected to the effect of the economy on small businesses), in which we asked whether you contribute to benefits for your employees:
- 41% answered Yes for both health care and pension
- 31% answered No
- 21% answered Yes for health care only
- 04% answered Yes for pension only
- 03% answered Yes for other benefits (but nobody sent e-mail to say which other benefits).
------ > CONTACT INFO < ------
Copyright 2009 CPA911.
Comments or questions? Write to: editor@cpa911.com.
Visit our web site: http://www.cpa911.com.
------ > SUBSCRIPTION INFO < ------
You can forward this newsletter to anyone, as long as you forward it in its entirety. If you received a forwarded copy, subscribe for yourself (it's free) at http://www.cpa911.com/newsletter.asp.
