WSW - Handling Customer Deposits in QuickBooks '24
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[00:00:38] Dan DeLong: Wonderful to see you and welcome to another workshop wednesday brought to you by schoolbooking.
com which is casual conversations for serious workflows so We should be live on online. I think I see a few folks watching today we're going to be talking about taking customer deposits in QuickBooks, desktop [00:01:00] 2024. So of course I bring my online colleague from as a co host, unfortunately, Carrie had a crisis and needed to bow out right.
Last late last night. Called an audible and because I don't want to do this by myself I need someone to talk to you. Welcome back Rachel for, and thanks again for filling in. How are you?
[00:01:22] Rachel Dauchy: I'm good. I always, actually I love to learn about QuickBooks Desktop. I'm definitely not an expert.
Anything you are sharing about [00:01:30] desktop. I will gladly hear
[00:01:31] Dan DeLong: it because it's in the ecosystem. And you're definitely going to hear about it, even if you are an online specialist like yourself, right? And just to be transparent Rachel has an internet guy coming.
So right during, right in the middle of this, you may have to. video if if that happens. So this is the dilemma of doing things live. So that's that. So let's talk a little bit about customer deposits. We [00:02:00] did a a workshop a couple of years ago about how to handle customer deposits.
And the situation is, Hey, I'm doing something for a customer and I need. I need some money up front. So that's not a, a deposit, like a bank deposit, because that's one of those words that, that gets you thinking in different things. Because when I hear the word invoice, I think customer invoice, but you may be thinking of a vendor invoice as well.
Those are some of those duality dual meaning [00:02:30] words that that could potentially be causing an issue for someone. So we're talking about the situation, Hey, I need an upfront deposit. So this will typically happen in contractor world, right? Where, Hey, I'm not going to start this job unless I get something out of the customer, because there's typically some purchases of supplies and things like that, and they don't want to.
Pick it out of their own pocket to do these things. I want to make sure that the customer kind of has some skin in the game type of thing. Non refundable [00:03:00] deposits, those types of things. So what kind of scenarios have you run into Rachel with in your world where that kind of situation comes up?
[00:03:08] Rachel Dauchy: Yeah, we definitely have that situation and QuickBooks online and I don't just have e commerce clients and an inventory clients. I definitely still have some service clients and I have a few that are doing this and.
This is as we have more and more different types of electronic payments and. People needing some [00:03:30] deposit up front, as long as that's happening, we're going to be able to need to use this function.
[00:03:35] Dan DeLong: All right. So from an accounting or bookkeeping standpoint, what, talk us through, since you're the bookkeeper of the two of us.
What is the challenge when it comes to that when you're trying to handle that inside of QuickBooks?
[00:03:49] Rachel Dauchy: QuickBooks desktop or online?
[00:03:51] Dan DeLong: Online In, in, just in general, right? Like in, in any type of situation where you there's a sale of goods and then there's a receipt of of money [00:04:00] upfront, and in, in, from a, looking at it from A-A-C-P-A or looking at it from the balance sheet, profit or loss perspective of that scenario what, what ends up being the part of the challenge when it comes to the way that kind of QuickBooks handled the, can handle these things, but then how you really should report these
[00:04:19] Rachel Dauchy: things. I think what you're saying is the if you receive something before you have earned it Then you have to make sure that you're booking it to unearned income And I actually now have the at& t [00:04:30] guy knocking on the door.
So i'll be back in just a couple minutes
[00:04:33] Dan DeLong: Okay And then we can continue We'll continue Yeah i'm going to share in the comments the workshop that we had done before but we're going to be talking about a new feature that's in QuickBooks Desktop that allows you, this is one of those what took you so long features to to come into play , it's been something that's been asked for a long time because the situation is is hopefully when Rachel [00:05:00] comes back pretty soon we'll be able to talk this through, but The issue that really boils down to it is that this receipt of customer deposit, that, that event that transaction needs to be a a situation where it's unearned revenue, right?
That event needs to be separate from the invoice or the sale of goods, right? The recognition of the, of that income because with the exception of the money it's, that's the only thing that has taken place is that. [00:05:30] They've given you money and that's really now in accounting terms, it's unearned revenue.
It's a, it's unearned income. So you need to account for it in, in, in such a way. So some people as far as the workflows are concerned is they'll put, they'll have that invoice and they'll take. A payment against it, right? So that in accounting, the back end of QuickBooks will recognize that revenue because it's now applying it towards the income Of the invoice.
So [00:06:00] that's not really what you want to do to handle that. So it ends up causing some extra work and some extra setup in order to set up these things. Because the proper accounting terms would be to record the receipt of the customer deposit. And that's outside of the scope of the event of the invoice and then taking payments against that.
So then when you invoice. That that customer and you're going to apply that[00:06:30] that deposit towards towards the invoice to lower it to lower, lower that balance of the invoice, then it's it's a matter of applying that, which doesn't really happen Automagically, right? So in QuickBooks, desktop 2024 and I'll just go ahead and share my screen.
Rachel's not back yet. And this is desktop 2024 and it's enterprise that this feature has found itself towards right? So the big issue is that[00:07:00] there's a transaction type. In QuickBooks Desktop that doesn't exist in QuickBooks Online, and that's called a sales order, which is another non posting transaction that doesn't affect your books, right? The sales order is a transaction that, that is listed here that that, that doesn't affect the financials in any way, right?
Typically, that's where people would start when determining and estimating work and those types of things, and then figuring whatever their business [00:07:30] process is when it comes to taking those upfront deposits. Maybe it's a flat fee of 500 or maybe it's a third and a third, right?
So maybe they have a different payment terms that go along with their sales. So they're going to need to take that upfront deposit. Now in Enterprise. There's a preference, right? Under payments. First you have to enable the the sales order in order to even see that that option of that transaction type.
And that's under sales and [00:08:00] customers. And company preferences, where you've got your sales orders over here. Then once you've enabled your sales orders, then you're going to be enabling the prepayment preference, which is this button here. And here comes, Rachel back. I'm back. All right.
So we're just talking about the preferences to turn on here with regards to the prepayment. And there's a button in the payment section for company [00:08:30] preferences called prepayment settings. Yeah. And then what this does is it's a checkbox to turn on the prepayment. And then step two is set up your liability account because Rachel, you were talking about, Hey This is unearned revenue.
Then when you're receiving a deposit, why is it a liability account? As, as far as the type of chart of accounts here.
[00:08:58] Rachel Dauchy: When you're [00:09:00] doing accounting on an accrual basis, you need to make sure that you are following the rules of GAAP, which are Generally Accepted Accounting Principles.
And that means when you receive a check for work that you haven't done yet, You can't book that as income. , That's incorrect. So you need to make sure that you're actually posting that as a debit to cash and then a credit to the liability is the journal [00:09:30] entry underneath that. And so you need to make sure then when you start doing the work and you start incurring that revenue, then you take that little bit out of.
The prepaid earning, I don't know if you already got to that point, but that's when you
[00:09:44] Dan DeLong: talked about it, but I wanted your, I want to, yeah,
[00:09:48] Rachel Dauchy: because it's technically a liability until you've actually earned it. And let's say you've made an agreement to do maybe three chunks of work or something like that.
And [00:10:00] so you, let's say maybe they prepaid. the first two or something like that. So you want to make sure that you're recognizing that appropriately as you start doing that work.
[00:10:11] Dan DeLong: And in, in the grand scheme of things, liabilities is an idea of what a business owes. So in in owing speak, they owe them goods and services, which haven't happened yet.
So the invoice hasn't. Quote unquote occurred yet. So the sale hasn't happened, but they [00:10:30] received money. So if at that moment in time, if the deal fell through, they would owe them something for the money that they've received, whether they're going to give it back, or whether they're going to, Half do the work or anything like that.
That's that remains to be seen, but they still owe the value of that deposit that's up front. So that's why it's a liability account listed here. Now this gives you the ability to assign. said liability account, whatever that happens to be. If it's not listed in here, then you can create a [00:11:00] new one right here on the fly.
But we're just going to use this on customer deposit. Click. Okay.
[00:11:05] Rachel Dauchy: Gift card liabilities work the same way because that's somebody pre paying for something. So in, in my world too, in QuickBooks online, I always, and I'm guessing in QuickBooks desktop too. I always see when I'm doing cleanups and stuff.
I see people book this straight to revenue So it is important that this is booked
[00:11:25] Dan DeLong: correctly
all right, so i'm just going to [00:11:30] choose dollars Save it
It's supposed to be a button up here that says, Oh, there it is. Okay. I didn't see it. It's it says receive payments on the sales order, which is something that you couldn't do before is you couldn't receive a payment against a sales order
[00:11:48] Rachel Dauchy: Oh, you can do that, right.
When you're creating it. Oh, that's really cool. You definitely can't do that in QuickBooks
[00:11:56] Dan DeLong: Online. No, you cannot. Now what happens is [00:12:00] it goes to the regular, customer payment screen and desktop. But, because you've clicked on it from the sales order, it will show invoices as well as sales orders to be able to apply that deposit against, right?
So this was 1060. So I'm going to say it's a 500. Payment. Oh, I got tab and it puts my payment amount up at the top. So it's just like any other customer [00:12:30] payment. But what it's doing is it's applying that to the sales order instead of an invoice, so there's no revenue recognition at this point because it's not applying it to a sales transaction, you would record it just like anything else, which was part of the challenge of doing these things.
As a sales receipt is because, People don't necessarily understand sales receipts when they're just used to invoices as their sales transaction. This is my workflow. It's an estimate that turns into an invoice that turns [00:13:00] into a payment that goes into the bank account, which then gets reconciled.
Throwing in this extra thing of a sales receipt was a little bit of a challenging for some people to grasp, right? It's oh, there's. There's two different things to do. I'm used to entering in and, recording a receipt of payment and then voila, there we go, right? So what a lot of people were doing mistakenly is, I'm used to entering in customer payments because that event of I've received money and I'm going to put it in the bank [00:13:30] account is handled very well.
Through a customer payment. So what they would do is they would enter a customer payment, but not apply it to the invoice yet to leave it as an open credit, right? But that doesn't affect to your point. It doesn't affect. The liability account. It just sits there as a negative asset, which is accounts receivable as a credit, but the workflow was handled very well because then when you go to invoice it, you can say, Hey, [00:14:00] I've got open credits.
Do I want to do I want to invoice it? And you say yes. And then, the QuickBooks workflow works very well. Smoothly at that point. So it was always a battle between, handling things correctly and doing things efficiently, which was a, which is always a tug of war and not just this, but anything that, that you have people do, you've built a whole business about doing things correctly in the deposits, tracking fees and that sort of [00:14:30] thing.
I'm going to save this. So can I ask you a
[00:14:34] Rachel Dauchy: quick question? So then when, let's say I am a business owner and I have, I've received a prepayment for something. Is the best workflow to go in and do a sales order first or the customer
[00:14:50] Dan DeLong: payment? Yeah, you're gonna need to do the sales order. First the non posting transaction in order to do this at all, right?
Otherwise you're [00:15:00] in the other workflows of doing the sales receipt as a separate event Using a using an item that's posting to that liability account that you've set up So it still handles the accounting side of things but it's just a separate transaction to Mirror that live event, right?
Like the real world event of money has changed hands and it's gonna go into the bank account today or whenever that, is actually happening is one thing that it's gonna [00:15:30] need to happen, right? But
[00:15:31] Rachel Dauchy: since you're putting it in with a sales order, you're avoiding it, hitting revenue and that it'll let you go in and put it into the pre-PA prepaid revenue with the customer, right?
[00:15:41] Dan DeLong: When you do this workflow where you're taking a payment on a sales or sales order, it's going to flow into this into this report. So it'll be broken down by customer. So you'll see the payment and the sales order. You'll see that amount listed there. And then presumably. When you apply it, [00:16:00] it'll go away, so you'll be able to see it by that customer.
Alright, so I'm gonna escape out of that. So the next step is, okay, I'm gonna, I'm gonna sell this item, and I'm gonna, and I want to apply my prepayment, right? So you can see, recent transactions, those are two separate events, right? So the reality of that payment going into the bank account follows the normal workflow of Going into undeposited funds or into the bank account, whichever you've specified inside a desktop [00:16:30] and while all that happens that the real world of that happening one thing to point out here is that.
You are doing this all within QuickBooks, right? So if you're accepting that payment through like QuickBooks Payments or something like that I haven't seen how that workflow fits into this because you can't necessarily send the sales order to the customer for them to pay online, right? Maybe they've given you your credit, the credit card and you can enter that in here through a payment just like you can.
You know [00:17:00] when you're recording payments, but that would mean to be that the customer and the credit card and The person charging the card would be all in the quickbooks at that time, right? So it's not like you can do it on a mobile device or anything like that. So quickbooks payments With if you're using that with this workflow doesn't seem to work.
Just yet, but that doesn't mean that they won't figure it out later but Baby steps, right? We finally got this feature. Hey, let's not throw out the bath [00:17:30] water with the baby or whatever that so we've got our sales order. And our next step is, okay, job's done. We're going to then invoice the customer for the rest.
So you can do that in a couple of ways. You can either just from the sales order itself, you can click on create invoice or Normally, you're not looking at the sales order for the customer, you're just wanting to create an invoice. So I'm going to create an invoice for the customer as soon as I put the customer name on it.
Voila, it comes up with, hey, there's available [00:18:00] sales orders to use or to apply. It's going to say, okay, I'm going to create the invoice for all of the sales order. Or maybe I want to do selected items. If you're partially billing for this, you can do that. But here we go. I'm just going to do the whole thing.
Everything comes in here, the order the thousand dollars. But wait, where's my deposit? Yeah, I was just gonna
[00:18:22] Rachel Dauchy: say, where's
[00:18:23] Dan DeLong: the prepayment? All right, which is fine because the next thing that you do is you save the invoice [00:18:30] and oh this customer has available credits That can be applied to the invoice.
Would you like those credits to be to have those invoice now you say yes Okay. Now up at the top we have our prepayments that we can choose and if there's other credits or discounts available, then they'll show up in this middle section and anything that might be previously a part, applied to this invoice will show here at the bottom.
So here's our prepayment of 500. I just make sure that there's a checkmark by [00:19:00] it and the dollar amount and then I click done. Alright, now it just gives you a little one time warning. Once you apply an available prepayment credit to an invoice, you won't be able to make any changes later.
And so the way that it's handled is it, QuickBooks creates the journal entries and applies them what's the word? Automagically in the background. So it's not something that you can modify later because of the way that those applications of those payments and whatnot are [00:19:30] handled in the background, right?
It's just a little warning there and it does that if I run my prepayment report again, it's gone, right? So I don't have this, this listing of open invoices or open payments to apply. This is like my source of truth with Which you don't have to do, right? Cause that's another task that people would do is they'd have to create a report of that liability account sorted by customer or [00:20:00] total by customer so that you could see deposits that were still outstanding and what their balance would technically be.
So Intuit has handled that by, they've actually seen it through, soup to nuts when it comes to that, where they created a report for you.
[00:20:18] Rachel Dauchy: The invoice is the mechanism now that moves the prepayment out of prepaid and into income. Is that what's happening?
[00:20:28] Dan DeLong: Okay. Because when you [00:20:30] create the invoice, that's when you're recognizing the revenue.
Sales orders don't do that. It's really just an order, right? But typically it's a, it's a non posting. So it's a transaction that sits between an estimate. And an invoice, right? So you can have, take it to the next level of, okay, this is promised. What
[00:20:50] Rachel Dauchy: if they prepaid all of it, then would you go in and create an invoice?
Let's say they prepaid 5, 000 for all of it. [00:21:00] And then you were ready to go in and do the invoice and apply all of the 5, 000. And then to put that revenue on the books, you could select the prepayments that are available and that's the amount of the invoice. Close it out and be done with it.
[00:21:13] Dan DeLong: Yes Yeah, I mean you wouldn't necessarily need an invoice at that point because I mean it's just going to apply the open credit in this case, which is the the prepayment to zero out the invoice.
And then the invoice is what's recording the [00:21:30] sale, right? Of the items whatever that happens to be.
[00:21:34] Rachel Dauchy: Cause what would be the other way to record the sale?
[00:21:37] Dan DeLong: If you're you need a sales transaction regardless, right? So that's either going to be your invoice or your sales receipt.
You could feasibly you can't create a non, you can't create a sales receipt from anything but a sales receipt. If you create an estimate that some, that's your workflow where they have to approve that [00:22:00] first Then you're beholden to a an invoice because that's the only thing that can connect to Okay.
That kind of sales transaction. It's a pretty well thought out. Feature the flip side of all the, all of this is, of course, if you don't have enterprise 2024 then , you don't have this feature. And then, of course, you have to do these other workarounds to be able to, handle this workflow.
Which of course begs the question,[00:22:30] what is happening with QuickBooks desktop, right? Like why would they have this new feature? When everything else that seems like if you go to quickbooks. com, you're pretty hard pressed to find something that's related to desktop.
And and you were saying earlier, it's yeah, I get this question all the time, even though you're an online, QuickBooks online specialist, all your clients are in QuickBooks online, please. Topics come up, right? Or
[00:22:58] Rachel Dauchy: a lot of them are coming over [00:23:00] from desktop enterprise. So I'm taking a lot of these people that are previously in a QuickBooks POS and, they're switching over to something else.
So I am not being an expert. It's really helpful to hear anything about desktop
[00:23:14] Dan DeLong: enterprise. So QuickBooks create released made or made an announcement. Hang on a second. Where did it go? I had it here. Okay. I'm going to put it in the. In the chat here so that people can see that the comments.
And [00:23:30] I'm going to open this area. There it is. If you can grab that from the old captions. No but it's in the it's in the comment. Oh, wait a minute. What happened now? Now I'm getting oops. Something went wrong. Oh, mine was able
to
[00:23:45] Dan DeLong: open up Okay so QuickBooks made an announcement that coming this year 721 731 which is a significant date for Intuit and no one else that's the end of their fiscal year.
So 731 [00:24:00] 2024, they're going to stop selling new subscriptions. Pro and premier, right? In the past year the only way to buy pro and premier was to call into it sales. Even, they removed it from Amazon, right? That was and other retail outlets that they typically had those things.
So in the past, in the past year, up until this announcement, you would have to call into it sales, which, Opens the conversation for that sales [00:24:30] agent to say, Hey, what about QuickBooks online, to have that conversation do to chart their own course because there is no, no bones about it that into it is.
Heavily encouraging, trying to use the nice polite ways of QuickBooks Online. And the reason behind all of that is the big bets that Intuit has made about AI, Intuit Assist. [00:25:00] Development of their QuickBooks ecosystem doesn't really hold too well for desktop, right? Because desktop, there's only so much that you can do with regards to those types of technologies that are vastly and exponentially changing, right?
It's been a slow process of the degradation of services and offerings that are that are available in desktop. So this latest announcement of, Hey, [00:25:30] everybody's now on a QuickBooks subscription for pro and premier and enterprise we're going to stop selling new subscriptions after the end of our fiscal year.
Which is July 31st, 2024, right?
[00:25:46] Rachel Dauchy: But just Pro and Premier, correct? Not for Enterprise. Just
[00:25:49] Dan DeLong: Pro and Premier which you couldn't buy anyway. Except by calling Intuit, which of course now, it's just a cycle of, okay, you can only get it through by calling Intuit and [00:26:00] they're going to start talking about QuickBooks Online during that conversation.
That sounds like
[00:26:05] Rachel Dauchy: so much fun. Don't you want to have that phone call with Intuit? Oh man.
[00:26:10] Dan DeLong: And I've seen it from the accounting community where they tell their client to call and get pro and then they end up getting sold QuickBooks online because they salespeople are salespeople, right?
They don't, my wife's a salesperson, so I gotta watch what I say here. But they some people have. Less [00:26:30] scruples than others. Let's just put it that way. But in, in the grand scheme of things, QuickBooks Online Plus and Pro are relatively on par with the same You know, feature set.
So if you raise the price of pro to be at or less than what it is for plus, why not have that conversation? Because that's really where the future things are going, but if you don't need it, you don't need it. That's it's a different conversation that, accountants have with their clients than Intuit [00:27:00] is having with the accountants clients.
That's one of those, one of those things to just be aware of, right? Here comes this announcement. Pro and Premier new subscriptions they're not gonna sell. That leaves the question of What about the existing subscriptions right now? Everybody is feasibly and it should be on a subscription for Pro and Plus.
They have made if you look at the article that I just posted there about, about that, [00:27:30] let me, I want to click on it so I can see it. There's. There's what's the word, asterisks all over it where it basically boils down to there's no guarantee that Pro and Premiere are gonna live any longer.
They can make their changes to the subscription at any time, right? I have my own thoughts about what it's going to be. I don't know. It's all wait and see, right? Yeah.
[00:27:59] Rachel Dauchy: [00:28:00] Personally, I'm more interested in what's going to ultimately happen to desktop enterprise. Cause that's really the world that I live in and you live in.
And, we do a lot of cloud based inventory solutions that sink in with QuickBooks online. And it's really what we're doing in the cloud is recreating what. We can do in desktop enterprise. And so I'm really anxiously awaiting what's going to be happening with that.
[00:28:26] Dan DeLong: Yeah. That in and of itself is where QuickBooks and [00:28:30] Intuit has said that's the flagship product for desktop.
To make that available you can still buy it directly, on, on their website, if you can find it would recommend you go with a a QuickBooks solution provider or an accountant that, that can be able to get you a lifetime discount or something like that if you actually are, and if you actually use the suite of services like payroll and payments, it could actually be less than what you were, currently paying [00:29:00] with pro and advanced enhanced not enhanced inventory enhanced payroll because those costs are going up as well.
Great. Enterprise gold, for example bundles in enhanced payroll and there's no additional employee fees, right? So if you have You know, 10, 10, 20 employees that you're paying through your QuickBooks desktop you don't have those employee charges and direct deposit fees like you would if you were to do pro with enhanced payroll as a bundle.
So it's worthwhile looking into [00:29:30] the question is how long, and we don't know, and it's
[00:29:33] Rachel Dauchy: still entirely a desktop. product. It is not a cloud based situation
[00:29:38] Dan DeLong: at all, right? In order to make a hybrid, you're looking at a cloud hosting provider, doing things like that or setting up, some kind of VPN in your home network, but it does require you to download the software, save it, store it.
And make it accessible, to be able to access it from the [00:30:00] interwebs. Whereas, QuickBooks Online, you buy a subscription, you log in, you're in. So the accessibility And you also have
[00:30:06] Rachel Dauchy: access to a lot of different specialists and providers that are entirely cloud based. Yep.
And you have access to, I think, more help, really.
[00:30:17] Dan DeLong: Potentially, yeah. You can't find help on their website, right? I
[00:30:21] Rachel Dauchy: meant help from people like me and you, not from Facebook. Sorry!
[00:30:24] Dan DeLong: Love you! On the flip side of the coin to your point, [00:30:30] Rachel, here's a new feature that isn't in QuickBooks Online, right?
Until that feature parity finds its way but of course this requires, Intuit developers to talk to each other, right? It's Hey, we worked on this new feature in desktop. Enterprise. How did you do that? Okay online developers go ahead and, mirror that, right?
That's one of those
[00:30:53] Rachel Dauchy: things. And maybe, do you think that maybe they would have an online version [00:31:00] of desktop enterprise? Because if that Were the case because I actually really do like desktop enterprise and I like the functionality in it My issue is that I just don't do remote hosting or you know Any of that kind of stuff and so I just wonder maybe if they were to build some kind of cloud based system of that With all of their capability with inventory, I wonder if maybe something like that would be happening.
I don't know, probably wouldn't be anytime soon, but you
[00:31:29] Dan DeLong: never know. [00:31:30] Yeah, typically what I've seen in when it comes to desktop versus, versus online, it's just, what is the foundation that they have to work with, right? And there's been all sorts of attempts. And. Getting this to look like that and getting that to behave like the other thing and so on and so forth.
But, they're very well aware that there is a gap which has been, to their credit has been close. That gap has been closing and [00:32:00] closing has been getting closer, but of course there still is a gap and we're not talking about generally accepted accounting principles that you mentioned earlier.
We're talking about the feature. Gap between how quick how things are handled inside a QuickBook desktop versus online it's quite clear that they want the features to be in QuickBooks online and they want to build into those features and that's going to happen either through Development of those features or [00:32:30] acquiring a company that does those features and bringing those features in into the online ecosystem.
[00:32:36] Rachel Dauchy: And I think we know how great that works. For now, I'm content with the integration of a lot of different things into QuickBooks Online and that all those things together make A really cool solution for what I'm doing. Yeah, I wouldn't I would think it would be really hard to create a whole cloud based system replicating every, [00:33:00] everything that would be going on in desktop enterprise because that they're nowhere near that yet with, yeah.
QuickBooks Online at all.
[00:33:07] Dan DeLong: And there's just some things that are fundamentally handled differently in the desktop space. Yeah that's
[00:33:13] Rachel Dauchy: why I was wondering maybe they'd consider making like a whole separate product that isn't QuickBooks Online. It's some kind of cloud based desktop enterprise, not desktop, cloud based enterprise solutions or something, maybe that.
[00:33:28] Dan DeLong: Yeah, just for example [00:33:30] attachments, right? Your attachments and when you If you want to take a receipt and you want to attach it to something in QuickBooks Online, you can drag it and, but what really happens to that attachment, where does it go, that sort of thing that has to happen with a file inside of QuickBooks Desktop, right?
There has to be, it has to be, It's somewhere. Whether it's in the company file or in the cloud, it doesn't matter, right? It's got to save that somewhere. And it's obviously handled [00:34:00] differently in QuickBooks Online than it is in desktop, which is one of the reasons why attachments don't come over.
Right.
[00:34:12] Rachel Dauchy: Are you still servicing a lot of desktop enterprise clients?
[00:34:18] Dan DeLong: Yeah. Especially when it comes when the customer is. I want to, I want everything in one place, right? Like that enterprise is a great solution for that [00:34:30] because they can have their payroll, they can have their their inventory management, they can have their job costing, it's just, the real world things of that.
If you're in, If you're heating, air conditioning, right? And you want to schedule an appointment, QuickBooks doesn't do that, right? That's like the customer facing side of things. It, it doesn't really, handle very well, even in online versus, versus desktop when it comes to that scheduling and rescheduling and those types of things, you need an app for that.
So you [00:35:00] need an app for that regardless of where you go as you get more complicated workflows. Yeah, with regards, if they're doing all of those things and they really need a good job costing thing with their employees and their inventory and those types of things QuickBooks Enterprise is a better outcome for that because of the way that you can, you can handle those tasks inside of QuickBooks and get the reporting out that you're looking for.
Otherwise, because when you start to [00:35:30] Frankenstein your business and have, this workflow over here and that, that workflow over there, where you get useful data out of that, who knows, right? Oh, trust
[00:35:40] Rachel Dauchy: me. That's what I do. And it's really exhausting.
[00:35:48] Dan DeLong: So it's just where your most comfortable.
And how you can get that information out of. Whatever source of truth, right? You're ending up being and as you [00:36:00] get more complicated in your workflows, then it gets, you're going to spread those things out. And then that's when you end up having, somebody just with some huge spreadsheet doing something and getting meaningful data out of that.
So that's that. So we wanted to talk about this feature in enterprise 2024, which is being able to finally Take and handle customer deposits inside of QuickBooks through a sales order functionality and automatically apply them when you turn it into an invoice.[00:36:30] So we're going to have two blog articles on School of Bookkeeping, one for the old way and one for the new way inside of QuickBooks.
Inside of there. So you can check out those resources there on school bookkeeping and Rachel, thank you for pinch hitting so quickly and even I wish
[00:36:48] Rachel Dauchy: I knew more about QuickBooks desktop enterprise, but I don't know I feel like I got really involved with online and a lot of the cloud based solutions.
And so I really didn't want to go [00:37:00] too far deep into. Desktop enterprise, but now I feel like I do. I feel like I
[00:37:04] Dan DeLong: want to get to know him more. Another convert, another converter. I
[00:37:08] Rachel Dauchy: know, because, and I was just going to ask you, do, I wonder if you know about many other new features that might be coming in desktop enterprise.
And I, the idea of it is really great. I'm I don't necessarily have the setup for remote, remoting into people's different QuickBooks, but maybe down the road, maybe I could possibly get more involved in that and [00:37:30] do a cloud based situation too. So we'll see.
[00:37:33] Dan DeLong: But that's a great, that's a great use case for quick answers, right?
So Rachel is a quick answers customer. So when she has those questions like that, she can pop into school bookkeeping, chat with me and get her back on her feet. Or off the ledge, depending on
[00:37:49] Rachel Dauchy: the quick answers.
[00:37:54] Dan DeLong: All right. So we will see you next time on the workshop Wednesday. And we appreciate you joining us today [00:38:00] and you all have a great day.
