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Payroll processing & entry
Kevin Harris - Monday, January 17, 2011

The 5 Most Common QuickBooks Blunders … and solutions you can understand

This is the fifth entry in a series of five.

 

I have worked with over one hundred QuickBooks using businesses and individuals over the past two years.  Many QuickBooks users are doing themselves a disservice by continuing to use the system in ways that are causing more problems than not.  Here are the issues that I see on a regular basis, and painless approaches to ridding oneself of being ordinary.


Payroll processing & entry.


Many small business decision makers attempt to save a few bucks by keeping payroll in-house. This is Most Common QuickBooks Blunder #5, but it is by far the most costly error of the bunch… and it isn’t specific to QuickBooks users only. All small businesses, unless they are in the accounting services industry, are better off outsourcing payroll. This is not my opinion. It’s fact. Payroll services are comprehensive and streamlined these days, and are available to businesses at extremely inexpensive prices. If your business is located within one state, has around 10-12 employees & contractors, and runs payroll every other week, then your payroll fees should land right around $100 per month. Two states and 25 employees? Around $200 per month. This includes direct deposit, facilitation of all payroll tax filings and electronic payments to the government agencies, and any other company specific deductions & additions. But it doesn’t end there. Today’s best payroll systems are web-based where employers and employees can view their information online, and all transactions can be downloaded directly into most of the common used accounting software packages, including of course, QuickBooks! No journal entries, no constant reconciliations of payroll liabilities, no errors in tax filings, and no wasting of time! All you do is tell your service who to pay, and when. We… I mean they… do everything else. For a small monthly fee. Did I say that already? If your payroll service is not providing all of these bells & whistles, then your money and time is being drained for no good reason. If you don’t currently use a payroll service at all, then your employees’ time is not being utilized to its potential. If you’re going to outsource one single financial task, payroll is your best option.


Solution: Contact QuickSolvers for an obligation free quote… payroll@quicksolvers.com or 773-909-2464.

Reconciling in the register
Kevin Harris - Sunday, January 02, 2011

The 5 Most Common QuickBooks Blunders … and solutions you can understand

This is the third entry in series of five.

I have worked with over one hundred QuickBooks using businesses and individuals over the past two years.  Many QuickBooks users are doing themselves a disservice by continuing to use the system in ways that are causing more problems than not.  Here are the issues that I see on a regular basis, and painless approaches to ridding oneself of being ordinary.

Reconciling in the register.

I’m always amazed at how many users of QuickBooks I come across who insist on manually placing the checkmarks in the bank account register when a transaction clears the bank. Do they not see the icon on the desktop called “Reconcile”? These are the same individuals who are scrolling through the register looking for transactions that don’t have the manual checkmark, adding them back into the register balance, and hoping that the resulting amount matches the bank balance. Talk about unnecessary.

 

Solution: Click that “Reconcile” icon on the desktop (or in the “Banking” menu). Fill in the information, hit continue, and start checking off transactions on the next screen. Not only will you find this process to be pleasant and easy, you will unearth a feeling of gratification upon completion, knowing that you have not only balanced your checking account for the first time ever, but you have a cute little report that tells you about all those transactions that haven’t yet cleared.

 

***QuickTip to save time…

Now that you’re ready to reconcile your bank and credit card accounts properly, try this. When you go to check off a string of transactions on the reconciliation screen, instead of clicking on each one individually… you can click on the first, hold the mouse button down, and scroll with the mouse. QuickBooks has never been so, ummm, fun.

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