QuickBooks Edition - Issue 9.06
July 20, 2010
In this issue:
Tips and Tricks
QuickBooks Tips and Tricks - Reclassify Transactions
As an advocate of assessing the health of QuickBooks data files on a regular basis, I am thrilled that Intuit has taken the first step in making the process a little easier. There are features included in the Client Data Review (CDR) that only Intuit can provide to make the clean up process more efficient. The CDR includes the ability to add extensive notes, but these notes will not go to the client unless the Accountant provides them as a PDF.
The Reclassify Transactions tool allows you to find transactions that may have an incorrect account and reclassify them into the correct account. There are two panes in the Reclassify Transactions window. In the left pane, you specify the accounts to display and select an account; in the right pane, you specify the transactions to show and perform the reclassification.
Using this tool it is possible to choose either a specific P&L account on the left and then choose specific transactions on the right to change the account or class. Or, choose a specific name on the right for all accounts and then make the account or class change to the chosen transactions. This is a great way to quickly and easily clean up coding inconsistency; to split apart transactions that were merged together; or to subsequently assign a class if that feature was not used previously.
In QuickBooks Premier (or Enterprise Solutions) 2010: Accountant Edition choose Accountant from the menu bar at the top of the software, then Client Data Review > Account Balances > Reclassify Transactions. Note that most of the Client Data Review features are available under the Company pull down menu option in the Pro and non-Accountant Premier versions by using the External Accountant login.
QuickBooks Integrated Application Solution - AuditMyBooks
Most of you know I have been an advocate for the Intuit developer community since before the Intuit Developer Network was even established almost a decade ago. I love the fact that we can provide solutions that work for the client while still keeping them happy and productive with QuickBooks. To that end, this is a new section of the newsletter specifically designed to highlight an application and provide information as to how they are a real world solution for a client pain point.
Most people use anti-virus software to protect their computers from hackers. Every email or trip to the Internet can lead to an attack, so anti-virus works around the clock. Although you probably don’t need to review QuickBooks for errors and fraud every day, a regular review for irregular transactions should be part of your normal process. AuditMyBooks can help you do it. It is a new application on the Intuit App Center that automatically scans QuickBooks transactions to identify errors and possible fraud. Even a monthly scan of a QuickBooks file with AuditMyBooks reduces risk.
Interested in learning more about detecting errors and fraud in small business accounting systems? Visit my affiliate site to download the white paper titled “Protecting Your Business from Accounting Errors & Fraud”.
Download the white paper now: http://www.auditmybooks.com/Referral.aspx?Affid=1054
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Live Events
The training calendar has been updated for the sessions that have been scheduled so far. This includes everything from full day CPE credit courses to one hour webinars.
View the schedule: http://www.4luvofbiz.com/training_calendar.php
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About Us
McWilliams and Associates can help you keep pace with all your QuickBooks clients. Through many self-service options on our website www.4luvofbiz.com, group settings like seminars and tele-classes, or one-on-one services, we help you quickly and painlessly navigate through the obstacle course of QuickBooks and related add-ons. Our clients are primarily from all over the United States with 95% of our work being done remotely with other Accountants and Pro Advisors, or with their clients if they prefer. We do not do any income tax work or financial statements so there is never a conflict of interest. Most of our QuickBooks consulting clients need 2-6 hours with us to deal with a specific issue, transition, or just for those occassional questions that come up.
In addition to QuickBooks we love working with integrated applications: Some specific examples include XpandedReports, Fishbowl Inventory, and Legrand CRM. We have experience with all these products and would love to partner with you as you help your client address needs that are beyond the scope of QuickBooks alone.
If you want more information on how we might best work together, call 800-787-8744. We would love to talk with you about your needs and any special deals we have for Bookkeepers, Accountants, and ProAdvisors.
Quick Links
Monthly Discussion Forum Visit http://www.4luvofbiz.com/product.php?productid=349 (the link stays the same, the date/time is updated each month)
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Virtual Software - I have been able to negotiate the same deal as I am getting for you: FREE! Free
accounts will be provided to accounting professionals who provide accounting
services to other companies on a full-time basis by using the link below.
Learn more: http://www.virtualsoftware.net/index.php?r=0018000000b47ex
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For online CPE courses I will be presenting, go to CPE Link: http://www.cpelink.com/instructor/detail.php?i=52&s= ysg86k6
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