QuickBooks Pro & Premier Opportunity!

2018 QuickBooks Desktop Pro & Premier versions will be released next month, however if you purchase the 2017 version now, you will get a free 2018 version of the same product since your purchase is within 60 days of the product release.

Why should you buy now instead of waiting? You will be purchasing software at 2017 prices rather than 2018 prices. Please note that this offer is for the software version that is not a subscription and  will work this year and in all future years!

Call ie Solutions today for pricing and current promotions!

 

Do you have too many Inventory Adjustments in QuickBooks?

In recent months, I have noticed several new clients had a HUGE number of inventory adjustments.  Some even had a couple dozen a day.  Large numbers of inventory adjustments are a warning sign that this feature is not being used correctly or that there is an internal control issue.

Inventory adjustments are used to correct quantities on hand, value, and/or Lot/Serial numbers.  Usually inventory adjustments are made after a full physical inventory or cycle counts. If numerous errors are detected during the counting of inventory, it’s possible that transactions are not entered properly, or it may be a sign of internal control issues, or theft.

Inventory adjustments should not be used to create assemblies or transfer inventory from one site to another.

  1. If you create inventory assembly items you can build assemblies.  Using this feature in Pro, Premier, and Enterprise finished goods are added to inventory and the raw materials used to make the finished goods are subtracted from inventory.
  2. If you have multiple warehouses, using Advanced Inventory on QuickBooks Enterprise gives the user an option to transfer inventory without affecting the value or lot/serial number.

If you have any questions or need assistance, please let me know.

It’s that time of year to look at payroll options…

If you are unhappy with your current payroll system, or if you want to automate the process of recording payroll; it’s the perfect time to evaluate payroll options.
I would like to tell you about Intuit Assisted Payroll. . This is the payroll service that I recommend for the following reasons

Payroll checks post directly to your QuickBooks file.

Intuit handles all tax payments and filing of forms.

Intuit is the largest provider of small business payroll services.

Pricing is competitive and most clients save money by switching to Intuit.

I can also offer a  20% discount on the monthly fee, for first year.
Call or email now to sign up! Ilene Eisen 831.373.8200 ilene.eisen@ie-solutions,biz

Don’t spend another year typing  payroll transaction in your QuickBooks Company file!!!

Starting a new payroll service in January, is both the best time to make a change and the busiest time to make the change.

Intuit is scheduling the conversion process appointments beginning November 1st o Be one of the first to receive training in 2016 and be ready to process your 2017 payroll timely!

ie Solutions Receives Var Stars Award

Bob Scott’s VAR Stars 2015 Announced

IE Solutions, has been selected as a member of the Bob Scott’s VAR Stars for 2015, a group of 100 organizations honored for their accomplishments in the field of midmarket financial software

Members of the VAR Stars were selected based on factors such growth, industry leadership and recognition, and innovation. Selection is not based on revenue and those firms chosen represent a wide range of size and many different software publishers of accounting software.

“Each year, 100 VAR Stars are picked from the best organizations that market financial software. It is always an honor to recognize those who contribute to the development of our business,” Bob Scott said.

About Bob Scott
Bob Scott has been informing and entertaining the mid-market financial software community via his email newsletters for 16 years. He has published this information via the “Bob Scott’s Insights” newsletter and website since 2009. He has covered this market for 24 years through print and electronic publications, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and has continued to address that market as executive editor of the Progressive Accountant since 2009.

About Progressive Media Group, Inc.
Progressive Media Group (PMG) www.PMGB2B.com is a leading online media company that provides business-to-business (B2B) marketers and media planners unparalleled access to a highly qualified and engaged audience through their portfolio of lead generation programs, industry-specific Web sites, email newsletters, Web seminars, live events, podcasts, content/reviews, custom publishing and direct marketing databases focusing on the nonprofit, healthcare and accounting professionals.
2015  VAR StarLogo

Is QuickBooks EMV Compatible?

Many clients have contacted me regarding Europay, MasterCard, and Visa (EMV) chip credit cards https://en.wikipedia.org/wiki/EMV requesting more information on the technology, process, and requirements.

Cards with EMV Chips

Many of you have already received one or more EMV chip cards which have a small computer chip in the card that stores information digitally rather than relying upon the magnetic strip that we are used in the  in the past.  This change is to enhance security and reduce credit card fraud, more information on implementing these changes can be found at http://usa.visa.com/download/merchants/visa-merchant-chip-acceptance-readiness-guide.pdf & http://quickbooks.intuit.com/r/emv-migration/what-is-emv-and-why-do-i-need-it

Processing Transactions with EMV Chip Cards

EMV chip cards can be processed using three different methods.  However only the 1st option will increase security and reduce credit card fraud.

Equipment that uses an EMV Chip Reader AND EMV Compatible Software

Swipe the Magnet Strip in a card reader

Manually enter the Credit/Debit Card number

For more information on the EMV process see http://usa.visa.com/personal/security/chip-technology/emv-chip.jsp & http://quickbooks.intuit.com/r/technology-and-security/step-by-step-guide-to-emv-migration-for-small-businesses

EMV Compliant Software

Is QuickBooks EMV Compliant? The answer is, it depends on the version of QuickBooks the following QuickBooks Software versions are EMV compatible.

QuickBooks Online

QuickBooks Point of Sale Version 12 is EMV Compatible

2016 Quick Books Pro/Premier/Accountant is EMV compatible

16.0 QuickBooks Enterprise Solutions is EMV compatible

Keep in mind that having an EMV compatible version does not make the reseller’s sales transactions compliant.  You also need to process the EMV card with equipment that reads the EMV chip.

Is EMV Compliance Required by a Given Date?

Starting October 1st, 2015, liability for fraudulent credit/debit card transactions will shift from the card issuer to the merchant if the transaction uses an EMV chip card and is not processed on EMV compliant software & card reader.  HOWEVER,

Intuit is extending the EMV liability shift by six months for its QuickBooks Payments customers to allow everyone more time to transition. If you are a QuickBooks Payments customer and unknowingly accept a counterfeit EMV card using your magnetic stripe reader, Intuit will assume your liability for the fraud until March 31, 2016. For further details around Intuit’s extended liability shift, please refer to the liability chart here.Intuit has extended this date to March 31, 2016 for customers using their credit/debit card processing solutions.  https://support.quickbooks.intuit.com/support/articles/inf23795

Conclusion

I hope this helps explain the EMV concepts and implementation.  Please contact me if you have any addition questions regarding QuickBooks and the processing of EMV transactions at Ilene.eisen@ie-solutions.biz

Should I Start a New QuickBooks Company File?

Quite often prospective clients call and say that there are so many errors in their QuickBooks Data file that they are thinking about starting the New Year with a new company file.  I discourage creating a new company file for the following reasons:

Using the Accountant Toolbox, company files can be quickly cleaned up or the general ledger balances can be corrected as of a given date.

If you create a new file you will need to maintain two files to access historical data and you may lose all your settings, memorized reports, templates, bank feed rules, etc.

Re-creating a company file with all the lists (Chart of Accounts, Customers, Vendors, Items, Terms, Unit of Measure, etc.) and open items (Estimates, Sales Orders, Open Invoices, Purchase Orders, Bills, etc.) can be daunting and prone to errors.

Please think twice before starting a new company file for an existing business that is currently using QuickBooks!

QuickBooks Webinar Schedule

Ilene Eisen has scheduled webinars to be broadcast from May 2015 – December 2015.

Each webinar is two hours and will qualify for Continuing Professional Education (CPE).  All webinars will be scheduled at either 1 PM Eastern or 4 PM Eastern

The webinars will include

  • QB15 – QuickBooks 2015:New Features that Improve Reports & Save Time
  • QBBK – QuickBooks: Saving Time with Bank Feeds
  • QBBS – QuickBooks: Systematic Approach to Reconcile Balance Sheet Accounts
  • QBCR – QuickBooks: Customized Reports – Getting Information You Need Quickly
  • QBDR – QuickBooks: Client Data Review- Tools to Easily Correct Errors
  • QBES – QuickBooks: Getting the Most Out of Enterprise Solutions
  • QBIC – QuickBooks: Improving Security and Internal Controls
  • QBTK – QuickBooks: Tips & Tricks for Accountants
  • QBIN – QuickBooks: Inventory Fundamentals to Improve Efficiency and Reporting

Dates are listed on the ie-Solutions website http://ie-solutions.biz/seminars-and-webinars/

QuickBooks 2015 Accountant Toolbox

QuickBooks 2015 changes the way that Accountants and Bookkeepers can access Client data Review (CDR) and other features included in only the Accountant Versions of QuickBooks and QuickBooks Enterprise Solutions (QBES) .  The new process uses the “Accountant Toolbox”, a new menu option on the Company Menu in both QuickBooks Pro and industry versions of Premier and QBES

Accountant Toolbox

The Accountant Toolbox gives full access to Client Data Review (CDR), Batch Enter Transactions, Period Copy, Working Trial Balance, and Accountant Center in QuickBooks Pro & Industry versions of QuickBooks Premier, and Quick Books Enterprise Solutions.    The toolbox is an amazing resource when working on the client’s records in a non-Accountant version.  The ability to “unlock” the toolbox is included in both the Intuit Pro Advisor program and QuickBooks Accountant Desktop Plus subscriptions and is accessed by using your Intuit login in conjunction with the External Accountant user rights.

Unlock Accountant Toolbox

In the past if you were on a non-Accountant QuickBooks edition either in your office or at a client’s site, logging into QuickBooks as an “External Accountant” user would give you access CDR with limited functionality.   In version 2015 non-Accountant versions you can still access CDR however you will now have full functionality.  To use the Accountant Toolbox log into the company file as and External Accountant user and then select the Company Menu – Unlock the Accountant Toolbox and login to your Intuit account when prompted.  The login account will tell Intuit if the rights to “unlock” the Accountant Toolbox.  After the toolbox is unlocked, the menu option will change from “Unlock Accountant Toolbox” to “Accountant Toolbox” and there will be a sub-menu with the toolbox features.

 

Do I Really Need to Update My Accounting Software?

Many clients that I work with are skeptical about updating their accounting software on a regular basis.  I believe that if you plan to stay in business you need accounting software.  If you plan to continue using your current software you should update it regularly and if you plan on changing or upgrading to another version, make the change as soon as possible.

If you are interested or currently using a cloud application upgrading is not an issue and the publisher will install updates for you.  Keep in mind that some applications with limited functionality are free.  My personal preference is to use applications that do not  limit functionality like QuickBooks Online (QBO) where you can expect to pay an annual or monthly fee.

Accounting software is changing at a rapid pace and so is the way we pay for it.  Many firms are going to a subscription model that requires monthly or annual payments in order for you to continue to use the software.

This year QuickBooks Enterprise Solutions (QBES) moved from a purchase model to a subscription model.  If you are currently using QBES, and paying for the annual Full Service Plan (FSP) make sure you look at the new subscription levels to evaluate your costs and functionality using either method, if you choose to stay with the FSP rather than subscription, you must continue to pay on an annual basis to remain in this discontinued plan.

If your software requires an annual payment to receive updates and  you do not pay the fee you will not receive new features, your software may not work with new operating systems, and security issues will not be addressed.  All these items will cost money, time, and reduce productivity.

If your software does not have an annual plan and you must re-purchase the software, evaluate the new features each year to identify changes.  Also consult with the vendor to identify how long they “support” a version and will continue to issue free updates.  I recommend only using supported versions.

Intuit supports QuickBooks Desktop products for a little more than three years.  After that period the technical support staff cannot answer questions, free updates for minor changes are not created, and connected services like payroll may not be supported.

Many clients are concerned about installing updates and fear that it will “break” the software and do not want to make any changes.  I understand your concern.  My suggestion is that you wait on installing  software updates for 1 – 2 months for annual updates, in this time software publishers will generally be made aware of any issues and correct as much as possible, or warn users regarding known issues.  If your software is updated less regularly, I would wait longer and consult to reseller to determine when it is advisable to update.

This article was inspired by the following article Accounting Software Updates: Are they Necessary?

If you have any questions regarding this article, or would like further information,  please contact Ilene Eisen, CPA.CITP at ilene.eisen@ie-solutions.biz

Ilene Eisen to Speak at Inuit Virtual Conference

Ilene will be speaking that the Intuit Virtual Conference , Wednesday December 10, 2014  she will be presenting:

QuickBooks Desktop Accountant: Your Friend at Year End (Part 1 of 2)

This course has been designed to introduce the accounting professional to strategies for working with your clients’ QuickBooks company files at month‐end or year‐end. It provides an overview of  the tools and features that streamline the process of evaluating and correcting your client’s QuickBooks data as well as those tools and features that enable you to work efficiently and directly with your client on month‐end and year‐end accounting processes & financial reporting. These tools are available with your QuickBooks Accountant Desktop Plus 2015 subscription or QuickBooks Accountant Desktop 2015 software, and QuickBooks Enterprise Accountant 15.0 software

QuickBooks Desktop Accountant: Your Friend at Year End (Part 2 of 2)

Your clients’ QuickBooks data is seldom clean enough or complete enough for you to use when preparing their year‐end financial statements and / or income tax returns. In this session, we will “walk through the Balance Sheet” using the tools and features covered in the previous session (QuickBooks Desktop Accountant: Your Friend at Year End ‐ Part 1) to quickly find AND correct mistakes, allowing you to confidently use the QuickBooks trial balance to prepare your clients’ returns. You will also learn proactive steps you can take with your clients to keep their data accurate throughout the year – to streamline both income tax return preparation and periodic financial statement preparation.