QuickBooksForum.com.au

I have just discovered by watching the US multicurrency webinar at http://www.conferencecallsunlimited.com/Quickbooks/102908/play.html that you can use a fixed foreign service charge by using a Price Level but in the Pro version of QB 2008/9 you can only use a Price Level to change a price by a fixed percentage.  To create a fixed foreign price using a Price Level you need the Premier or Eterprise version.

It appears to me that the Foreign Rate in the Service Item at present does nothing to lets hope that this is a work in progres.

Anyone have any more info on this?

Tony

Using QB Pro 2008/9 (recent install after the bug fixes) we invoice foreign companies in USD for consulting services performed in those countries.  Most countries require a percentage to be withheld from foreign companies invoices (5 to 20% but commonly 10-12%).  In order to claim these taxes in our tax return we need to track them.  Does anyone know a good way to do this?

I have tried setting up a different tax authority and creating a separate Tax Item but run into problems as the only accounts that the Tax Agency tab in the Supplier dialogues will accept for tax tracking are "current assetts, current liabilities, income, expense and COGS accounts" which can only be set up in the home currency.  If I use an AUD current liablities account (Foreign Tax Payable) for the foreign tax authority tax tracking, when I try Suppliers-Tax_Activities-Pay_Tax and select the foreign tax authority all looks good until I save the cheque when Quickbooks tells me that I "Must specify a tax agency for the tax account" which I already have.  I can get around this by switching the cheque pay the ATO in Tax Payable and then editing the transaction to pay to the foreign authority in my "Foreign Tax Payable" account.  This appears to work but there must be a better way.  Any help appreciated.

We am using Quickbooks Pro 2008/9 (recent install after all the bug fixes).  My company provides consulting services to international customers that we charge in USD. We have a USD bank account as well as our normal AUD accounts.  We charge by the day in USD.  When I set up a Services Item there are boxes in the Description area for "Rate" and "Foreign Rate".  If I put a value in "Foreign Rate" but not in "Rate" then no rate is transferred to an invoice when I select the item.  It appears that the idea is to supply a rate in the Home currency and then convert it to the foreign currenty which is no good as our rates are in USD and don't change.  Does anyone have an idea as to how the "Foreign Rate" is intended to be used or how to set up fixed foreign rates for Items?

OK (2003 doesn't work with Vista).

All I can suggest for now is setting up the transfer settings again in the preferences.

No, we're working on XP.

Latest Update

Latest service pack installed and all if good in QBi land now.

I am extremely happy with this product...

The technical answer:

Cancel the Accountants Copy. If the accountant does have any changes, you can change the extension to the accountants changes file (.aif from memory} to *.iif, then import as an iif file.


The simple answer:

Cancel the accountants copy and create a Journal Entry for changes when advised by the accountant.

Alternatively, a back-up copy should be given to the accountant to review - when they have identified the changes required and are ready to do so, create an accountants copy and send to them for adjustment.



Note:
Users generally make the mistake of creating an accountants copy when this is unnecessary. The only time an accountants copy should be created is when the accountant is actually going to make the changes themselves (this is very rare).

In most circumstances a business will send a backup to their accountant, close off the period and have the accountant send them a Journal adjustment transaction list. The adjustments are then performed by the business and reconciled to the accountants P&L/Balance Sheet.




Jason Hollis
Quick Book Solutions
www.quickbooksolutions.com.au
 

Hi,  I use QB Pro 08/09 and recently created an accountant's copy.  QB now won't let me reconcile my bank account.  Problem is that I reconcile the bank account every month prior to submitting monthly BAS.  However my accountant usually doesn't return his changes until march/april.  Does anyone have a work around to overcome this problem.  Seems every year QB makes a deliberate change which introduces another inconvenience.

Thank you.
 

Does the new PC have VISTA installed?? These products are not compatible with VISTA, and if loaded on a VISTA machine some very strange things can occur.

Hi,
Having just transferred quickbooks (2003) and quick payroll to a new computer, I'm having trouble exporting pay data from quick payroll to quickbooks. Only one employee's data was transferred. Can anyone suggest what the problem might be and how to solve it?
Cheers
Glenn