access capability ($3.95 monthly), as well
as many other remote computer possibilities, such as Windows Remote desktop or
Logmein.com, which are both free. These
are better options to remotely access
QuickBooks, than giving up the full
QuickBooks capability.
Converting back to QuickBooks
Pro. Somehow users aren’t warned
enough. Downloading an online copy to
convert back to Pro can be problematic. If
you were using Pro then went to Online,
then want to return to Pro, before you give
up Online, be sure to print copies of the
Balance Statement and Profit & Loss
Report with a date range of All. Then after
conversion, compare the same reports in
Pro. It can be done – just be careful to compare reports and enter adjustments as
needed.
If you are a current Pro user, you will be
frustrated at the limitations of Online. If
you start with Online, you don’t know what
you don’t know, until you know how different Pro is, which then will be frustrating.
Even with my heavy travel schedule,
QuickBooks Online would be great – but
not yet.
By the way, there are few Advanced
QuickBooks ProAdvisors that recommend
Online. It will mature eventually but it
is nothing compared to its big sister,
QuickBooks Pro.
What’s the advantage of
QuickBooks’ Complete Payroll
option vs. my CPA, Paychex,
ADP or other payroll providers?
Full service payroll companies have a
stronghold over practices. Yet, as more
practices are doing accounting in-house,
payroll has also come in-house.
ADP, Paychex and others all offer to pay
your employees by check or direct deposit.
Typically, the employees’ hours are calculated, hopefully reviewed and called into
the payroll service or entered on their website. They pay the payroll taxes, file the
payroll reports and create your W-2s at the
end of the year. Because the monies are
withdrawn from your bank prior to processing, these amounts must be manually
entered though into QuickBooks, typically
as three lump sums.
There is no detail information of the paychecks in QuickBooks, so one must defer to
the actual payroll service’s website or
printed reports for detail questions regarding a paycheck. The amounts are only
entered into QuickBooks as lump sums,
not how much was Withholding, Social
Security or Medicare.
Well. Guess what? QuickBooks has a
Complete Payroll option. Enter the
employee’s hours in the Start Scheduled
Payroll window, click continue, review the
information then click Create Paychecks.
Enter your password and the payroll is sent
to Intuit for processing.
But, here’s the cool part – all your payroll
detail is contained within QuickBooks, not
some external site. And, you don’t have to
enter any lump sum amounts.
It is just so easy to create payroll in
QuickBooks. I seriously do not understand
why anything else is ever recommended.
Attendees who have switched say that it
was less expensive than their previous
source. If you go to my website and click
the Resources tab, you will find an Intuit
contact that will give you a 20% discount
and free setup for switching.
Can’t I just download all my
transactions into QuickBooks
without entering the checks or
deposits in the QuickBooks register manually?
Sure you can, but that’s not the wisest
management move. Manually entering
deposits then downloading ensures you
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