Do Not Begin Until You Have Read the Following Pertaiing Your Version

Upgraders Guide

Upgrader’s Guide

QuickBooks Pro-, Premier-, Accountant 2014 & Enterprise Solutions 14.

(DO NOT BEGIN UNTIL YOU HAVE READ THE FOLLOWING PERTAIING YOUR VERSION)

What to know before you start upgrading your Data.

QuickBooks 2004 and prior:

You can upgrade directly to QuickBooks 2014 providing your data is not older than version 13 (QuickBooks 2004). Company files older than version 13, QB 2004 must first be upgraded to QB 2006 (step-up disk provided in upgrade pack). Should you be installing QB 2006 step-up disk please run programme as administrator.

You need not register QB 2006 step-up disk as you will only use it to upgrade your data and from there upgrade data to QB 2014.

Set aside a few hours:

Installation takes about 20 to 30 minutes. The time taken to upgrade your company file will depend on the size of your data file. Most files takes approximately 1 hour to update.

Installing QuickBooks

STEP 1: Shut down all running programs, including antivirus programs.

STEP 2: Insert the QuickBooks CD in your computer’s CD-ROM drive.

Click Next to continue.

STEP 3: Read or print the terms of the license agreement before continuing.

Accept the terms of the license agreement and click on Next to proceed.

STEP 4: Click on Custom and Network Options and selec the most approriate choice.

If QuickBooks installation will be a stand-alone station (single user) & not be installed on a network then may want to select the default recommended setting as indicated above.

If however you are installing a client installation then you will select option 1 above.

You will choose option 3 if you are installing the database server manager on the server or host computer.

(This will not install the application itself- only the database server manager).

Click on Next to proceed.

STEP 5: License and Product Numbers. Insert the license number supplied on purchase.

Each user workstation will have a unique license number.

Click on Next to proceed.

STEP 6: You will see the following upon completion of installation:

Common install messages may include installing .NET or WIC components (latter- in the event of win XP) before continuing. In many events a computer reboot is required before attempting to install again.

Upgrading your data

Now that you’ve installed QuickBooks 2014 the next step is to upgrade your company data:

STEP 1: Open your version of QuickBooks from your desktop.

STEP 2: Choose File > Open or Restore Company.

STEP 3: Click Open a company file and then click Next.

STEP 4: Browse to your data file, select it, and click Open.

STEP 5: Upgrade confirmation screen. Tick the box presented to continue with upgrade. Once you’ve upgraded your data you will not be able to open it again in an older version unless you restore your backup prior to upgrade.

STEP 6: Specify your home country location.

STEP 7: You may be prompted to state whether you’ve filed VAT if you’re upgrading from QB 2006 or older. Select ‘No’ when prompted even if you have been filing your VAT and click on Next.

STEP 8: Trading in multiple currencies? If you are you may be prompted to indicate your Home currency.

STEP 9: QuickBooks will remind you to re- design templates and to setup your VAT if you are upgrading from QuickBooks 2006 and older.

STEP 10: Specify the new location of upgrade file.

STEP 11: Specify a backup location.

STEP 12: QuickBooks will now upgrade your data. The time of upgrade will depend on your computer specifications and (or) size of data file.

VAT Setup for Upgrade files

Switching from VAT100 to VAT201

QuickBooks 2014 has a VAT201 return which QB 2008 and prior versions did not have. If you’re upgrading from an older version & want to make use of SARS VAT201 return then follow these steps:

STEP 1: Edit ‘old SARS supplier account’ under Supplier Centre:

STEP 2: Create a new Receiver of Revenue under Supplier Centre.

STEP 3: Click on the VAT Settings tab and configure as follow:

VAT Registration number / SARS VAT number. This is completed under Company information.
VAT Return / Select VAT 201 (South Africa)
Reporting Period / Select your VAT period. I.e. Monthly or Bi-monthly.
Period ending / Specify the VAT periods as specified by SARS
VAT label / VAT201
Track VAT on sales to / Out- put VAT control account. ‘ New VAT control’
Track VAT on purchases to / In-put VAT control account. ‘New VAT control’
When you do owe VAT? / This should be Accrual unless specified otherwise by SARS.

STEP 4: Rename ‘old’ VAT codes by placing an X in front of them:

We will now create the following new VAT codes:

SSA - SA VAT 14%

CSA- SA CAPITAL VAT 14%

ESA SA EXEMPTED VAT

ZSA SA ZERO RATED VAT

STEP 5: Setting up Standard Purchases 14%

v  On VAT code list menu go to Edit & select new VAT code.

v  The VAT code will be SSA

v  The VAT description will be SA VAT 14%

v  Tick the Taxable option

v  Click on the drop down arrow next to the VAT Item for Purchases box & choose to ‘Add New’.

v  The VAT name will be ‘SA VAT on Purchases 14%’

v  The Description will be ‘SA VAT on Purchases 14%’

v  The VAT Agency will be ‘Receiver of Revenue (VAT201) that you setup in step 9.2. Click on OK when done.

Note Box 15, N Domestic Purchases has been assigned to the VAT201 form.

STEP 6: Setting up Standard Sales 14%

v  On the VAT code SSA click on the drop down arrow next to the VAT Item for sales & choose to ‘Add New’.

v  VAT Item name/ description: SA VAT on Sales 14%

v  The VAT Agency will be ‘Receiver of Revenue (VAT201). Click on OK when done.

Note: Note the VAT return box is box ‘4, 1 domestic Sales’

STEP 7: Setup for Exempted Purchases

v  The VAT name will be ‘SA Exempted Purchases 0%’

v  The Description will be ‘SA Exempted Purchases 0%’

v  The VAT Agency will be ‘Receiver of Revenue (VAT201). Click on OK when done.

Note: Note the VAT return line is ‘Domestic Exempted Purchases’

STEP 8: Setup for Exempted Sales

v  On the VAT code ESA click on the drop down arrow next to the VAT Item for sales & choose to ‘Add New’.

v  VAT Item name/ description: SA Exempted Sales 0%

v  The VAT Agency will be ‘Receiver of Revenue (VAT201). Click on OK when done.

Note: the VAT return box is box ‘Domestic Exempted Sales’

STEP 9: Setup for Capital Purchases

v  The VAT name will be ‘SA Capital Purchases 14%’

v  The Description will be ‘SA Capital Purchases 14%’

v  The VAT Agency will be ‘Receiver of Revenue (VAT201). Click on OK when done.

Note: VAT return line is ‘<14, N> Domestic Capital Purchases’

STEP 10: Setup for Capital Sales

On the VAT code CSA click on the drop down arrow next to the VAT Item for sales & choose to ‘Add New’.

VAT Item name/ description: SA Capital Sales 14%

The VAT Agency will be ‘Receiver of Revenue (VAT201. Click on OK when done.

Note: VAT return box is box ‘4a, 1a> Domestic Capital Sales’

STEP 11: Assign New VAT codes

New transactions need to default to the new VAT codes you created. If not then VAT will be posted to the old VAT100 return and not the new VAT201 return.

Setting default VAT code in Preferences:

v  From the VAT menu click on Manage VAT. Click on Assign VAT codes to set defaults.

STEP 12: Select Items from the dropdown list and click on bulk Change.

(Repeat this step for Customers, Suppliers & Accounts)

v  Make inactive old VAT codes under VAT code list so you will only be left with following:

v  Go to Lists\ item list & make old VAT items inactive.

If you are upgrading from QB 2006 and older and you want to continue with VAT100 return after upgrading to QuickBooks 2014 then follow these steps:

STEP 1: Run VAT 100 report for your current VAT period.

STEP 2: Double click on the VAT on Purchases- Box 1.

Note: Observe the balance brought forward at the top-right.

This balance should not be there & represents historic VAT periods.

STEP 3: Click on the VAT menu & select VAT adjustment & complete as follow:

Adjustment date / This is the ending date of your previous VAT period.
VAT Agency / SARS vendor.
VAT Item / VAT on Purchases 14%
Adjustment account / You will create a ‘VAT suspense’ account, type Other current liability’.
Amount / This will be the balance brought forward amount you spotted in step 2
Increase or decrease / This will depend on the balance brought forward being a positive or negative
Memo / A text field reporting on notes.

Repeat steps 1 – 3 for the VAT on Sales as well.

The result will be clearing any balances brought forward which will be evident in the VAT suspense account.

Support:

Remember, we’re here to help you!

30 days free telephonic and email support on QuickBooks is initiated upon first –time registration. Thereafter additional support can be renewed at the following prices: SimpleStart R749, Pro, Premier & Accountant R1499 including VAT.

The telephonic/ email support contract will exclude the following due to complexity of issues and (or) time constraints: Setting up of QuickBooks on a network, set up of company files from scratch, training, data upgrades, creating invoice layouts, posting VAT adjustment journals. Adjusting VAT journals has a great impact on your balance sheet and should be done by the jey accounting officer.