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Caesar's Brook Babblings
QuickBooks News You Can Use 
May 2009 - Vol 2, Issue 5
In This Issue
Handling PayPal Transactions in QuickBooks
Merging Duplicate Customers, Vendors, or Employees
QuickBooks Letters
QuickBooks 2006 Service Ends May 31
Caesar's Brook
Greetings! 

Welcome to the May issue of Caesar's Brook Babblings.May Flower
 
Do you have a customer or vendor letter that you send frequently?  Do you need to notify a group of employees of a change in benefits? Do you want to offer your customers a discount coupon for their birthday or thank them for a referral?  This month's feature article shows you how using QuickBooks Letters can streamline the process.  And in keeping with our managing your accounts receivable theme from the past several months, you can even use them to send collection notices.
 
Enjoy the fine Spring weather.
Handling PayPal Transactions in QuickBooks
 
I am often asked how to handle payments received via PayPalTM in QuickBooks.  It's really quite simple.  First, set up your PayPal account in the Chart of Accounts as a Bank Account.  Then invoice your customer as you normally would for the full amount of the goods or services provided.PayPal logo
 
When you are notified by PayPal that payment has been received, enter a payment for the full amount due and apply it to the invoice.  If you do not use Undeposited Funds by default, select it from the list of Deposit To options.  In the Make Deposits screen, select the customer payment to be deposited and your PayPal account as the account to deposit to.  On a second line, under the customer payment, enter PayPal as a vendor name in the received from column, enter an expense account such as Bank Service Charges or Merchant Fees in the From Account column, and enter the PayPal fee amount as a negative number in the Amount column.  The total amount of the deposit will now match the amount that PayPal has deposited into your account.
 
When you transfer money from PayPal to your checking or savings account, enter the transfer in QuickBooks to maintain the correct balance in both accounts.  Reconcile your PayPal account monthly in QuickBooks just as you would any other bank account.

QuickTip of the Month

 
Merging Duplicate Customers, Vendors, or Employees
 
MergingIf you have inadvertently set up a duplicate vendor, customer or employee, you can merge the records.   Open the list with the names you want to merge. Right click on the vendor, customer or employee name that you don't want to use. Change the name to exactly match the name you do want to use. Click OK. Click YES to confirm that you want to merge the names. 
 
Caveats:
  • You can't merge an item with sub-items; you need to remove the sub-items first.
  • You must be in single user mode.
  • You can't undo a merger.
FeatureFeature Article
 
QuickBooks Letters
 Quickbooks Letters
Did you know that you can create Microsoft Word letters (or other documents) using QuickBooks data right from QuickBooks?  QuickBooks provides a wide variety of letter templates in the following categories: Collection, Customer, Invoice, Estimate, Vendor, Employee, and Other Names.  You can use the templates provided, modify them to suit your needs or create your own letters. You will find a Word pull down menu along the top of the Customer, Vendor, and Employee Centers and a Letters button at the top of the Invoice and Estimate screens.
 
Generating a letter is quick and easy.  Try it out. Go to the customer center and select a customer.  From the Word pull down menu, choose "Prepare Letter To name".  Scroll down the list of options and select "Bounced Check" and click Next.  You will be prompted for your name and title as it will appear on the letter and when you click Next again, the letter is created in Word.  It's that easy!  You can edit the letter, print it, or even save it, as you choose.  When you close Word, you will be returned to another dialogue box offering you the option of printing envelopes from Word as well.  Choose Cancel to close the box without printing envelopes.  (An alternative to printing envelopes is to reformat the letter to fit into a window envelope; see the Invoice letters for an example.)
 
Suppose you want your bounced check letter to always include the check information and your fees.  Let's edit the template so that there is a place to fill in that information.  From the Word pull down menu, select "Customize Letter Templates".  Choose "View or Edit Existing Letter Templates", then select the Bounced Check template from the list of Customer Letters.  When it opens you will be able to see the data fields that QuickBooks is inserting as well as the text.  Between the address block and the salutation, add a line that reads "RE: Check #   in the amount of $    ".  In the first paragraph, after "...amount due", add "plus a $25 handling fee".   Save the file as "Bounced Check with Fee" and exit Word.  The revised template will now be available for use in QuickBooks.  QuickBooks will not fill in the check # or the amount for you, but the reference will be there for you to add the information before you print the letter.  I wouldn't recommend including information that has to be manually edited in letters that you will be sending to a large group of customers or vendors at once, but hopefully, bounced check letters don't fall into that category.
 
If you want to modify the QuickBooks data that is included in the letter or create your own templates, you can do so.  Let's edit our Bounced Check with Fee template one more time.  In Word 2007 you will find the QuickBooks data fields on pull downs accessed from Add-Ins.  At the end of the last sentence, add "at " and insert "My Company's Phone Number" from the Insert My Company Fields pull down. Save the file and use the template to see the results.  Granted, it would have been easier to just type in the phone number, but it illustrates how the process works.  You can find a copy of the final edited template here.
 
If you look at the templates provided, you may find ideas for ways that QuickBooks letters can make your life easier or help you connect better with your customers.  I recently created a QuickBooks letter for vendors requesting a W-9.  Some people use the Invoice fields to create more highly customized invoices.  QuickBooks letters also work well if you need to send the same letter to a large group of people.  However, there are no built-in filtering capabilities, so if you need to select recipients based on specific criteria, you will have to run a report to get a target list and then select the individuals from the list of names.  If you are comfortable using Mail Merge within Word, you may find it more effective to create a QuickBooks report with the data you need and export that to Excel to use as your Mail Merge recipients list.
 
Problems?
If QuickBooks can't find the letter templates or you can't find the QuickBooks toolbar in Word, search QuickBooks Help for "troubleshooting letters" for simple solutions to common problems or  contact us.
QuickBooks 2006 Service Ends May 31
 
Quickbooks 2006Intuit's policy is to provide service on the current version of QuickBooks and the two previous versions.  Accordingly, service on QuickBooks 2006 will end on May 31, 2009.
 
What does the end of service mean?  It means the following will no longer be available to users of QuickBooks 2006: Assisted, Basic, Enhanced or Standard Payroll; Employee Organizer; Merchant Services; Billing Solutions; QuickBooks Email; Bill Pay; Online Banking; Credit Card Download; and Technical Support.
banner 2I hope you found these babblings useful.  Your feedback is important to me.  Please drop me a line and let me know what you think.
 
Sincerely,
 
Susan Dugdale
Caesar's Brook Business Solutions, LLC
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