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I have this question from One of my Customer:
"We just found out that when we generate P&L report, under COGS it shows only the customer name and our Invoice no. instead of supplier's name and supplier's Invoice no. Any way to change that? ... "
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If you do your data entry up-to-date into QuickBooks, your year end closing will be very easy. Before you print your reports, there are some maintaince need to be done. These are some steps taken to close my book in QuickBooks:
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 Under Windows, go to Start > Settings > Control Panel and open Internet Options. Under thePrograms tab, select Mozilla Thunderbird from the drop-down list next to E-mail. To test the setting, create an Invoice and click on the Email Button.
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To set up the payroll item list, go to List | Payroll Item List
The types of payroll item you can added into QuickBooks are:
- Wage (Hourly, Salary, Commission)
- Additional
- Deduction
- Employer Contribution
Here I would like to show you how to create a list of payroll items:
I have a staff, Mr John Fong. John is a Singaporean and is now 28 year old. He is having a pay package as below:
- Basic Salary of S$2,000 per month
- Provide him a fixed transport allowance of S$800.00
More on Payroll tips...
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 From Payroll Item list | click on Payroll Item button and select "New"
- In the "Add new payroll item" wizard, select "Wage", then click on "Next" to continue.
- Select Wage Type as "Salary Wage"and select "Regular Pay" on the following screen.
- Enter "Basic Salary" as the name of this item.
- Link this item to your preferred Payroll Expenses account. For my case I will link to Basic Salary (Payroll Expenses:Basic Salary)
- Select "None" for Tax Tracking Type
- Untick the PAYG (Pay As You Go) Tax in the Taxes screen.
- Untick both "Include in Employer Superannuation Guarantee Contributions" and "Include in 'Every hour worked' leave accruals" - Australian Payroll year starts from Jul to Jun, we can't use it as accruals.
- Click on Finish to complete the setting up of Basic Salary.
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 For John, which is below 55 years old, his rate is at 20%. To set the Employee CPF deduction, go to Payroll Item list | click on Payroll Item button and select "New"
- In the "Add new payroll item" wizard, select "Deduction", then click on "Next" to continue.
- Enter "CPF Employee" as the name of this item (you can have other preferred name)
- Select or create a new supplier name "CPF Board" as the name of agency.
- Link this item to a Payroll Liabilities account (CPF), for my case I use " Payroll Liabilities:CPF"
- Select "None" for Tax tracking type
- Untick the PAYG Tax from Taxes screen
- Select Gross Pay on the Gross vs. net screen
- Enter the default rate as 20%
- Enter the upper limit as according to the CPF regulation if required (optional)
- Select "None" for Superannuation
- Click "Finish" to complete this item
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 In the "Add new payroll item" wizard, select "Employer Contribution", then click on "Next" to continue. - Enter "CPF Employer" as the name of this item (You can create your own preferred name)
- Select the CPF Board as your agency, Payroll Liabilities account to track your CPF liabilities and Payroll Expenses to track your CPF expenses
- Select "None" for the Tax Tracking Type and untick the PAYG on the next following page
- Select Gross Pay as the base of calculating your CPF contribution
- Enter "13%" as the CPF contribution rate (follow the CPF regulation)
- Need not do anything for the "Monthly Mininum Threshold & Super Type". Click Finish to complete this item.
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 Transport allowance is an addition to the salary.
- In the "Add new payroll item" wizard, select "Addition", then click on "Next" to continue.
- Enter "Transport Allowance" as the name of this item
- Link this item to your preferred expenses account. For my case I link to Transport allowance expenses account (Payroll Expenses:Transport Allowance)
- Select "None" for Tax Tracking Type and Untick the PAYG on the following page
- Untick the ""Include in Employer Superannuation Guarantee Contributions" .
- Select Gross for Base of Calculation
- Need not enter any default rate as most of the employee will not get the similar package. Click Finish to complete this item
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There are some customer reported that they having this error code C=47. I try to simulate the problem but I couldn't get the same error code C=47 as what my customer got it.
But according to the Quicken FAQ ID# Q9031, this problem will occur when you try to modify a report on Gross instead of Net value.
According to this FAQ, to resolve it, you can go to Edit | Preferences | Reports and Graphs | Company Preferences | Default Reporting, change the setting from Gross to Net.
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During installation you have the following error message:
"Quickbooks has detected that an Installation\Uninstallation is not finished"
How to resolve this error?
You have this error is because Windows is either in the process of installing a critical or other update.
To resolve it:
- Select Start menu > Help and Support Centre.
- Click 'Keep your computer up-to-date with Windows Update' under the 'Pick a Task'heading. Windows will find the most recent update and install it.
- Restart the PC and attempt to install QuickBooks again.
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