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Units of Measure
Fred's Bar walks you through how to set up units of measure to track and sell inventory. There is an example of beer, wine by the glass and box, and spirits. We'll use bottles, cases, glasses, bottles, boxes, shots and 26'ers, and show how to assemble a mixed drink to sell, cost it out, and combine costs of inventory and non inventory parts in the assembly.
This video is sold with it's own *.QBB backup of the sample file used to create the video so you can follow along after restoring the data file to either Canadian Pro or Premier versions of QuickBooks® 2012.
(Thanks Tena, for being an awesome subject and supplying the cost and prices)
It doesn't matter how it was paid explains how to gain control over your payables, to make sure you aren't paying for things twice and that you are paying your bills promptly and proudly
Time & Billing
If you are a consultant, or you have clients who consult, this is the must have video. It's very fast paced, so expect to go through it a few times to get all the great habits down pat!
Adjusting Billing & Time
What if you need to adjust the Invoice to the client because they won't pay for all your time? What if you paid your sub-contractor but can't invoice out all of their time because they were really slow?
How would you adjust your invoices, what Items would you use? What reports would be useful?
Sales Orders vs Estimates
Why would you use a sales order? Why would you use an Estimate? Would you ever use both? Why and why not? Could you use a Sales Order to estimate your workflow? These an other questions will be answered in this video.
HST Reconciliation Challenges
What entries will cause an unassigned amount? How would you repair a file with multiple unassigned amounts? Where would you look? What entries would you make, and when would you adjust and when would you edit the transactions?
Capital assets (fixed assets) recording purchase and sale
How do you record the purchase of assets, breaking apart land, building, equipment?Where would you record the ITC claim on the CCA based on vehicle usage? When you sold those assets, how would you record the Proceeds? Reduce the cost and accumulated amortization to record the reduction in Net Book Value? The Selling Costs? How do you calculate Gain or Loss on Sale for accounting versus Capital Gain or Recapture, Terminal Loss or adjustment to the UCC Pool when there are still other assets in that pool?
How to record a holdback on construction when you're the holder, and when you're the one from whom the holdback has been taken.
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