New Company with Quickbooks

[oldhasbeen]

Hi All

Has anybody had this issue?

I'm now set up as a limited company and although I can create a new Quickbooks file for the company, I can't see how I can import my "items list" into the new company without having to manually do it from scratch.

As I use this for my stock control, it's a huge list so inputting manually is not an option.

If it's not possible, I could continue to use my current Quickbooks file but would like to keep them separate for clarity.

If it's not possible in Quickbooks to do this - could I jump ship to say Sage and import it to there (without importing all the other guff).

Any advice greatly received.

TIA - Helen

[HowardW]

Hi Helen
When I moved to a Limited Company, I just changed the details in my current set up in Quick Books.
However in answer to your question, go to File, Utilities, Export in your old setup, select what you want to export - eg item list and give a name for the resultant IIF file.
Then close that company, Open your new limited company and use File, Utilities, Import to import the IIF file - All done!
Regards
Howard

[oldhasbeen]

Hi Howard

Thanks for replying - I've done as you've suggested (after pouring through the Quickbooks help files on exporting/importing no mention was made at all of this solution!).

Imported brilliantly, but hasn't imported quantities on hand - aaarrrggghh!

I may end up having to do as you've done and keep the same Quickbooks file going - not ideal, as I'm also going VAT registered.

Also Quickbooks doesn't appear to recognise retail business, even though I've set the company up as such. From day one, I've input all stock purchases as net, and all sale prices as gross as this is obviously how retail works.

Now I've switched VAT tracking on, it will only let me apply ALL prices gross or net - so it looks like I'll have to manually net down ALL sales prices.......thousands and bloody thousands of them!

Is there a way of doing this in a spreadsheet - even though I've got Excel on my PC, Quickbooks will only let me export data to Lotus 123 which I don't have.

The more I use Quickbooks, the more I realise how many great big holes it has.

Thanks for your help.

Helen

[HowardW]

Hi Helen
Excel will open the IIF file as it is a text file. Make all your changes and save it back on itself.
I'm surprised that the Quantities on hand were not exported originally - mine were.
On the VAT problem - it should be possible on the spreadsheet to flag the sales prices as VAT inclusive - check the help files (IIF) for this
Regards
Howard

[oldhasbeen]

Hi Howard

I've opened as an IIF file and saved as same - Quickbooks will still not import quantities on hand even though they are clearly there.

I've also tried saving as .csv file and importing that - again, still won't import quantities.

I've added the S vat code to purchase price and that is still showing OK as net figures.

Guess I'll have to do some sort of formula to show the sales prices as gross - not sure where to start as I'm not an excel guru.

It shows as gross in "price" but then is adding vat on for "Gross Price".

If only I can get these 2 issues resolved, it's going to save me about 2 days work!

Any suggestions on how to fix this would be eternally gratefully received!

Thanks - Helen

[HowardW]

Hi Helen
As far as the VAT is concerned, if you got to thr right of VAT in the spreadsheet, you will find a heading: AMTINCVAT put a Y into this column to sort out the VAT.
As far as the stock levels are concerned, I am not sure why the figures are not being imported - mine are.
Will have a play around and see what I can find out
Regards
Howard

[HowardW]

Hi Helen
This is probably a silly question, but in the first column for your products table is the entry STOCK ? If it isn't, Quickbooks will disregard the quantities on hand
Regards
Howard

[oldhasbeen]

Hi Howard

Thanks for all your help so far - I think we're nearly there, but am now pulling out my hair (singular and grey!).

One last attempt before going on a search and destroy mission at Quickbooks!

Sorted out the VAT issue for purchases, have applied the VAT code for sales, but will have to net the sales prices down as they were entered gross - but at least I can do this in blocks in the spreadsheet rather than manually in Quickbooks.

In my Excel spreadsheet these are the columns I have (apart from the bit of bumf at the top)

Col A = INVITEM (have tried to change this to STOCK or whatever, but to no avail).

Col B = NAME - name of item

Col C = REFNUM - to do with the exported file

Col D = TIMESTAMP - again to do with the exported file

Col E = INVITEMTYPE - this shows whether the item is service, stock, other charge etc

Col F = DESC - what shows on sales receipts/invoices

Col G = PURCHASEDESC - what shows on purchase order

Col H = ACCNT

COL I = ASSETACCNT

COL J = COGSACCNT

COL K = QNTY - This is the sod that won't import that shows quantities on hand

COL L = QNTY - also called QNTY, but this shows the value of stock on hand. Have tried to change this header, but nowt happens.

COL M = PRICE - sales price

COL N = FOREIGNPRICE - not applicable

COL O = COST - net price to me

COL P = VATCODE - VAT on sales

COL Q = PURCHVATCODE - VAT on purchases

COL R = PAYMETH - blank as I chose this when I input sales receipt

COL S = PREFVEND - all my vendor names have imported OK

COL T = REORDERPOINT - these figures have imported OK

COL U to end aren't relevant.

How does this compare with what you have?

I hate Quickbooks.

Regards - Helen

[HowardW]

Hi Helen
If you go to column AD you will find the column for VAT included - changing the entry here to Y will tell quickbooks that Vat is included in price.
Sorry got it wrong on Stock - If column E Contains the word STOCK against an item, the the quantity on hand should be imported into your new company - at least it works in my version which is 2001.
Regards
Howard

[oldhasbeen]

Quickbooks

Hi Howard

Thanks for all your kind help on this issue - sorry not to have gotten back sooner.

I've managed to sort out the VAT using excel as we were discussing.

It's only when you try to export and save it, then import it into a new company file that the darn thing drops all the stock quantities. If you import it back to the original file it works fine (as you've done).

So I've given up - created new registers for the limited company within the same company file and now it works fine bar a few tweaks.

For clarity it would have been preferable to close out the sole trader file, but ho hum - can't have it all.

Thanks again.

Regards - Helen