The 2005 versions of QuickBooks simplify the processing of your customer payments even more than before.

When using the "Receive Payments" screen within QuickBooks, you'll notice a much "cleaner" look and feel to it. The flow of information within the screen is much more logical and less cluttered than it has been in previous versions.

A great new improvement is noticed when you are posting a customer payment that is either over or short when compared to the balance of the invoice it is being applied to. For example, if the invoice amount is $125.50, and the customer sends a check in the amount of $125.00, QuickBooks now prompts you with a message that says "Underpayment is $.50 - When you finish, do you want to: 1) Leave this as an underpayment or 2) Write off the extra amount.

If you choose option 1, QuickBooks will process the payment as normal and leave the remaining balance on their account. If you choose to write off the extra amount with option 2, you'll then see a screen asking which account to use for the writeoff. You then enter the ledger account, and QuickBooks takes care of the rest. No more messy journal entries or use of other methods to zero out over and underpayments on account.

This improved feature, as well as the enhanced list management features and the new QuickBooks learning centers mentioned in previous editions of this newsletter may be just what you've been looking for. Remember, you can save up to 20% on the purchase of QuickBooks 2005 by clicking here.

Mentor TV - Northeast Ohio's home audio/video experts since 1950. Fifty-five years as a family owned business, numerous changes in audio and video technology, and the arrival of "Big Box" stores have not altered Mentor TV's basic philosophy for customer satisfaction and continued success:

"After the sale, it's the service that counts."

Visit with Jack Tompkins and the rest of the Mentor TV staff for your next home electronics purchase. Contact them at (440) 942-4132.

Success Stories:

I have been working with Mentor TV to help them integrate their POS retail software with QuickBooks, and to provide QuickBooks training and learning sessions to their staff.

How can I help your business get more out of QuickBooks?

• Do you have 10 employees battling for the 5 user spots in your current QuickBooks software?
• Find your QuickBooks file running s--l--o--w?
• Feeling restrained by your current QuickBooks setup?

QuickBooks Enterprise Edition solves those problems while keeping the QuickBooks features you've come to know and love...

Question #1: Please explain the "Collapse" button located at the top of my report windows

A: This button is often overlooked, but tremendously powerful in helping with your reporting needs. As an example, if you run a Profit and Loss Standard report, notice how the details of all your accounts are displayed. Subaccounts, and their parent accounts are all showing in detail. Once you click the "Collapse" button, all of the subaccount totals are automatically "rolled up" into a grand total.

The "Collapse" button helps streamline your reports and enhances their readability. To return the report back to its' original format, just click the "Expand" button.

Question #2: Can I add the opening balance for a customer AFTER I have created their account?

A: Yes, it is possible to add the balance after the account has been created.

As you know, when you create a new customer (or vendor) account, a field called "Opening Balance" exists. If you overlook this field, once you return to edit the customer account, it is no longer available to enter a balance.

One way to get their balance into QuickBooks is to open your customer list, and then click once on the name of the customer for whom you'd like to enter the balance so the name is highlighted. Then, click on Banking, then Use Register. From here, you'll see a register relating to this particular customer. Create a new item with a type of "Other Charge" and call it "Opening Balance Entry". Link this item to your "Opening Balance Equity" account, and then enter the amount of their balance. At this time, you'll now have their opening balance in your accounts receivable, and you'll need to double-check with your accountant on how to work with the balance in the Opening Balance Equity account.

Get back to your computer desktop in a hurry!

Instead of minimizing each and every window you have open, tap on the "Flying Window" key (should be 2 keys to the left or right of your space bar) + the d key. Tapping these two keys will zoom you right into your desktop. It's that easy!

Would you have any interest in attending Internet- based classes to learn more about using QuickBooks? If so, can I ask just 30 seconds of your time to complete my survey?

Your responses will help me evaluate the possibilities for such an idea in the months ahead. Random entries will be chosen to receive a FREE copy of a QuickBooks learning guide, so make sure to include your e-mail address in your survey response!

Take the survey now...

"Awesome!", "This is really slick!", "It has saved me so much time!"

How will you describe this must-have computing tool?

The "QuickBooks: News You Can Use" newsletter is written and distributed monthly by Scott Gregory. Scott is a Certified QuickBooks Advisor, CPA and Microsoft Certified Professional.

Scott is also the president of Bond Technology, a firm that specializes in helping small businesses use QuickBooks effectively and profitably. Feel free to drop Scott an e-mail if you'd like to learn more about the services his company can provide.

QuickBooks is a registered trademark of Intuit. myQuickQuestion.com, Bond Technology and The QuickBooks Cafe' are not affiliated with Intuit in any way.

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