I have set about to provide, in an easy-to-read instructional manner, valuable and useful content on the humungous topic of QuickBooks. It runs in a logical series covering from the time you sit down to figure out which accounting software to buy, to setting QuickBooks up and then using the different modules in it.
There really is no end to this information as it is ever changing, so I intend to constantly update this site with new material and helpful tips about QuickBooks, news, training, the desktop and online versions, and some accounting tips that pertain to QuickBooks use. I hope you find these articles helpful.
Thanks for taking the time to read.
I had an interesting inquiry the other day from a QuickBooks user. “Larry, a quick question…..because I am now running two sets of books in the Quickbooks program, is it possible to have both sets up at the same time? It’s a nuisance to have to close one and open the other when I’m trying to find something!” The answer to that question is …Yes. Here’s how you go about doing that but remember – if you have Payroll open you can only work in the Primary company file to make changes. If you want...read more
There is something new in the Canadian QB’s that you might be interested in and it’s called QBO (QuickBooks Online). It has been out in the U.S. since 2000 but was just released in Canada in 2012. Canada, are you ready to move into the “Cloud Based” reality of QBO (QuickBooks Online)? It is only about six months old, so it is still in its infancy, and but in today’s ever changing technological world, Intuit will improve on it. Also as you can appreciate, even the ProAdvisors are scrambling to get up to speed because it...read more
My good colleague at NumberCruncher, Ian Benoliel, CEO, gave me some information that I found interesting. In light of that I thought I would pass it on to you people that are having problems deciding on which Integrated QuickBooks Inventory package to use. All Orders by NumberCruncher and Fishbowl Inventory are both inventory and order management software that integrates with QuickBooks. Both handle order entry, purchasing, warehouse management and manufacturing. If you would go down the list of features and benefits 90% of them ...read more
Since this Handling the BC Return to PST information is lengthy in detail, with many details and instructions, I have added the below link so that you might be able to better view what is needed to complete the QuickBooks changes to your Company File. Make sure and do a backup before you proceed with any of the changes to your BC Sales Tax Codes. You should not have to change any of your BC Sales Tax Items, but review them just the same. Remember to go to Sales Tax/Manage Sales Tax and make sure to Assign the proper Sales Tax Codes. Also to...read more
For you QuickBooks users that are still operating with a 2010 version, here’s a important service reminder from Intuit that I am passing along to you. Don’t forget as a Certified ProAdvisor I can offer you a 30% discount on QuickBooks 2013. Dear Certified ProAdvisor, We are sending you this email to make sure that you and your clients are aware that we will discontinue service and support of QuickBooks 2010 software as of May 31, 2013.* If your QuickBooks 2010 clients want to continue to use these services now is the...read more
I came across a recent article regarding the organization of your business tax receipts, felt is was informative enough that I thought I would share it with you. It was written by Dene of www.ledgerdocs.com. It is simple enough to misplace your receipts and documents throughout the year, especially when your business is booming. With this said, there can be drastic consequences to misplacing those pesky receipts and documents. Both the IRS and the CRA will generally deny any expense claims against your business if you are unable to provide...read more
Here’s some important information for those of your that are doing business in British Columbia and Prince Edward Island. On April 1, 2013, the provinces of British Columbia (BC) and Prince Edward Island (PEI) will be changing the way their sales taxes are administered. In British Columbia, the 12% Harmonized Sales Tax (HST) will be replaced by the 5% Goods & Services Tax (GST) and 7% Provincial Sales Tax (PST).¹ In Prince Edward Island, the PST will be replaced by a HST rate of 14%, of which 5% will represent the GST and 9% the...read more
Here’s a news flash that I’m passing on to you people that are dealing with Merchant Service contracts. Merchant Service contracts are usually lengthy, expensive to break, and you may also have to deal with the auto-renewal clauses. But did you know, due to recent market changes, some Merchant Service Contracts can be broken penalty-free? Here’s Why: • Recent increases in VISA fees¹ have led many Merchant Service providers to increase their rates • Under the Code of Conduct, whenever rates are increased, there is...read more
This is one of the articles that I receive periodically from Ledgers Canada (www.ledgers.com), and I thought it might be informative for Canadian tax filers. In 2010, CRA started a letter campaign with the purpose of educating individuals about their tax obligations and to encourage taxpayers to correct errors or inaccuracies in prior year tax returns. Well, they are back. Beginning in January 2013, CRA will send approximately 33,000 of these letters to persons that have any of the following items on their personal tax return for 2011: •...read more
As a new year is now starting and more and more businesses are storing records in electronic format, I thought I would shine some light on the subject by way of an article I came across. The below article was written by Greg Lam of www.smallbusinessdoer.com/, “an online small business education site that focuses on the money and tech side of things.” Can you throw away – or even better, recycle – your paper receipts once you’ve scanned them in? The answer is yes and no, I’ll explain. The CRA (Canada...read more