Before you can even begin to use QuickBooks, it’s important to make sure that you purchase the right version for your needs. QuickBooks has several products, from very basic to extremely powerful, desktop to online, and finding the version that’s right for your business is not as easy as you might think.
I can help by asking key questions about how you run your business now, and how you hope to do things in the near future. As an accountant experienced with many types of businesses, I can often bring up points to consider that you might not think of yourself.
Once we have determined the right version for you, I can buy it for you at a substantial discount.
Installing QuickBooks is simple, but customizing it to meet the needs of your business is crucial to its success. You want to make sure that QuickBooks will give you the information you need to make smart business decisions, and you also want to take advantage of all its time-saving features. QuickBooks is a very flexible program with a lot of different options, and it’s important to set it up right, right from the start. If you get help from an expert at the very beginning, it will undoubtedly lead to fewer problems down the road.
I can also help with system conversions, which can be very difficult for the uninitiated. It’s important to enter the correct beginning balances and have a “clean” cut-off for the changeover.
Once your system is set up properly, it’s important to get good training, so that the people using the system are using it “right”. In QuickBooks there is always more than one way to do a task, and the method used can affect your books in unexpected ways. I will teach you (or your bookkeeper) the best options, and explain why it matters. I will also introduce you to the reporting side of QuickBooks, which can be extremely helpful to business owners, and which many, unfortunately, ignore. Using the reports within QuickBooks can help you know where your business stands, recognize trends, uncover problems and more.
Many business owners have no idea how much time is wasted by inefficient use of QuickBooks, but I see it on a daily basis. Providing your staff with an hour or two of efficiency training can make a world of difference, and will save you money day after day.
Efficiency training involves learning to use the keyboard instead of the mouse, and taking advantage of keyboard shortcuts whenever possible. We will also cover quick ways to navigate through QuickBooks, and how best to find things that we are looking for.
If you’d like your office staff to improve their productivity by 20-25% or even more, arrange for some efficiency training today. It’s probably the most cost-effective investment you can make.
As the end of the year approaches, you want to start thinking about making sure your accounting is accurate before sending your QuickBooks file to your tax preparer. Even if you are reconciling your bank accounts every month, you may not realize that there are other accounts that need to be reconciled as well.
A Tax Time Tune-Up involves reconciling all those other accounts, to make sure all your “I’s” are dotted, and “T’s” are crossed. It includes the following:
- Verifying that all Accounts Receivable are properly stated, adjusting when necessary.
- Making sure all Accounts Payable are properly stated, adjusting when necessary.
- Making sure that beginning balances on Balance Sheet agree with your accountant’s ending balances from prior year, adjusting when necessary
- Reconciling the Accounts Receivable on your Balance Sheet to the subsidiary ledger, adjusting when necessary.
- Reconciling the Accounts Payable on your Balance Sheet to the subsidiary ledger, adjusting when necessary
- Reconciling federal and state payroll tax liabilities, adjusting when necessary.
- Reconciling loan and notes payable balances, adjusting when necessary.
- Reviewing Balance Sheet for unusual items, and resolving them.
- Setting a closing date so that no changes can be made after your file is sent to your tax preparer.
Do you have an accounting transaction that you don’t know how to enter in QuickBooks? Do you have a problem in QuickBooks that you don’t know how to fix? Give me a call. Some questions can be handled easily with a quick phone call. Others might require more research. Whatever your problem, if it involves QuickBooks, I’m here to solve it.