tag:blogger.com,1999:blog-57360826984344202302024-03-15T18:09:30.545-07:00Bottom Line Bookkeeping ServiceThe core philosophy of The Bottom Line Bookkeeping Service has always been dedication to your success beginning with proper record keeping. The success of our clients across many different industries, from small business start-ups to franchised businesses, is proof that our methods work, and work well.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.comBlogger49125tag:blogger.com,1999:blog-5736082698434420230.post-55993141093933551192024-02-15T12:12:00.000-08:002024-02-15T12:12:28.673-08:00Beware of overly aggressive Intuit sales people!<p> It's mind boggling to me to see a company who's done so much in the past to help small businesses now getting greedy and hurting them by over-selling their expensive, clumsy online subscription called QuickBooks Online, or QBO for short.</p><p><b><span style="font-size: medium;">Case #1</span></b> I've seen them selling full service payroll to clients who don't necessarily need payroll yet. They sell them on their merchant services that gives them a link on their emailed invoices for their customers to pay. What price are you willing to pay for convenience? Actual case this season, a young man in his 20's purchased an existing lawn care business that came with a QuickBooks Desktop license and employees, however he only had a Mac. Intuit sold him on the most expensive subscriptions of everything they offer. In only 2 months he paid over $2,000 in various Intuit fees. AND THEY NEVER REMITTED PAYROLL TAXES! That young man came to me for help, he purchased a PC so he could run QuickBooks Desktop, I helped to convert the file. Then we discovered they sold him the basic payroll tax table, not the enhanced version that comes with tax forms. I was on the call with him when he called to upgrade the payroll subscription and the salesman was HARDBALL selling him on QBO again. Despite our objections, he persisted and never did upgrade to enhanced version. When the young man asked to be refunded for QBO, they refused and only offered to refund what he spend on QBDT if he came back to QBO. He did and that's the last I saw of him. I wish him well, but a salesman is NOT a bookkeeper/business coach to help teach him how to be a business owner.</p><p><span style="font-size: medium;"><b>Case #2 </b></span>A woman came to me for help with QBO. Again was victim of an aggressive Intuit salesman. They taught her how to create sales invoices and how to link to her bank to download transactions but not how link deposits to sales invoices. So in only 2 months her taxable income was doubled by $17,000. She was also using a lot of cash apps and I explained to her that in order for us to record income and expenses correctly, we would have to look at the cash app statements, an extra step for bookkeeping. I explained to her how easy it is to print checks but she wasn't interested. I call this spending dollars (bookkeeping time) to save pennies (postage).</p><p>Intuit will discontinue selling <b>new</b> QuickBooks Desktop licenses as of 7/31/2024. They will continue to support existing customers with security updates. If you prefer to use the desktop solution, IMHO the "Cadillac" of small business bookkeeping, you can but you can only get it by calling this number.</p><p style="text-align: center;"><span style="font-size: large;">844-437-2660</span></p><p>Before deciding, please consult with your accounting or tax professional, don't rely solely on Intuit sales people to tell you what you need or teach you how to use it. </p><p>Here at <b>The Bottom Line Bookkeeping & Consulting</b> we do work with all versions of QuickBooks to find the solution that best serves your needs. Use this link <a href="https://thebottomlinebookkeepingconsulting.fullslate.com/" target="_blank">Schedule an appointment</a> with a bookkeeping professional with over 30 years experience.</p>Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-21502092643045519772023-12-01T19:37:00.000-08:002023-12-01T19:39:51.406-08:00 Intuit will stop selling new Desktop subscriptions after July 2024. <p><span color="rgba(0, 0, 0, 0.9)" face="-apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif" style="background-color: white; font-size: 20px; white-space-collapse: preserve;">It's finally here... they will continue to support and renew current customers, so as far as it stands right now, we won't be forced to QBO, but any and all new users after July 2024 will NOT have the option to purchase QBDT. </span></p><p style="--artdeco-reset-typography_getfontsize: 1.6rem; --artdeco-reset-typography_getlineheight: 1.5; background-color: white; border: var(--artdeco-reset-base-border-zero); box-sizing: inherit; color: rgba(0, 0, 0, 0.9); counter-reset: list-1 0 list-2 0 list-3 0 list-4 0 list-5 0 list-6 0 list-7 0 list-8 0 list-9 0; cursor: text; font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 20px; line-height: var(--artdeco-reset-typography_getLineHeight); margin: 0px; padding: 0px; vertical-align: var(--artdeco-reset-base-vertical-align-baseline); white-space-collapse: preserve;"><br style="box-sizing: inherit;" /></p><p style="--artdeco-reset-typography_getfontsize: 1.6rem; --artdeco-reset-typography_getlineheight: 1.5; background-color: white; border: var(--artdeco-reset-base-border-zero); box-sizing: inherit; color: rgba(0, 0, 0, 0.9); counter-reset: list-1 0 list-2 0 list-3 0 list-4 0 list-5 0 list-6 0 list-7 0 list-8 0 list-9 0; cursor: text; font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 20px; line-height: var(--artdeco-reset-typography_getLineHeight); margin: 0px; padding: 0px; vertical-align: var(--artdeco-reset-base-vertical-align-baseline); white-space-collapse: preserve;"><a href="https://www.firmofthefuture.com/product-update/faq-desktop-stopsell/?fbclid=IwAR1wLOnmHjlpnPBIIW6hKMD5dmYQd5N9AWidoHOVljp2V53PKHohWCEmR94" target="_blank">The future of QuickBooks Desktop</a></p>Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-81674805179779654702023-11-27T09:37:00.000-08:002023-11-27T09:37:21.011-08:00Do you have all the W-9's you need from subcontractors?<p>This is an exercise I run every Nov/Dec with my clients to prepare them for the upcoming 1099 filings. All too often we forget to request a W-9 and certificate of insurance from a new subcontractor. If you don't get their tax ID# and mailing address you may never hear from them again and can be responsible for paying income tax on what should be a tax write-off. On top of that, your workers compensation may cost more if you don't have the certificates of insurance at your annual Workers Comp Audit.</p><p>Get your blank <a href="https://www.irs.gov/pub/irs-pdf/fw9.pdf" target="_blank">W-9</a> with this link.</p><p>You need to issue a 1099 NEC (Non-Employee Compensation) for every subcontractor you paid $600 or more to during the year. </p><p>You need to issue a <a href="https://www.irs.gov/forms-pubs/about-form-1099-misc" target="_blank">1099 Misc.</a> most commonly for rent paid if you are renting commercial space. Instructions and requirements in the link.</p><p>If you don't know how to determine if you've met the threshold, please schedule an appointment with <a href="https://thebottomlinebookkeepingconsulting.fullslate.com/" target="_blank">The Bottom Line Bookkeeping & Consulting</a> before the end of the year.</p><p>Happy Holidays!</p>Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-15795205108765605352023-07-18T11:28:00.001-07:002023-07-18T11:28:28.495-07:00Is Intuit starving the hand that feeds it?<p>I cannot tell you how beyond irritated I am right now with Intuit and QuickBooks. They routinely over-sell products that are beyond what a small start-up company needs and make it nearly impossible for them to purchase the QBDT Pro. They try instead to sell them the Enterprise Solution for Desktop which will run over $3k/yr.</p><p>
I just got off the phone with a new startup who was talked into buying the most expensive QBO product with full payroll and the data is so screwed up I don't think even the most proficient QBO accountant can fix what's happening. He's spend over $2k in three months on QBO, when the QBDT Pro should be $549/yr., and enhanced payroll $649/yr.</p><p>
SaaS = Software as a Subscription is the model most software companies are using, why... greed! Not everyone has stable broadband internet, it's coming, but it's not here yet. Even with a great connection the software is lagging, you must use it in a browser and continually wait for the screen to refresh. It requires a lot of mouse clicks rather than faster keyboard strokes. </p><p>
Mac users are screwed, parallels that allows Mac to run PC software doesn't work any longer, so Mac users must either use QBO or buy a PC. I actually had a new client this year who didn't own a computer at all and was under the impression he could do everything he needed from the QBO phone app! Shame on Intuit! Can you imagine, phones break and get lost all the time and if that's your only recourse for small business accounting, you're in big trouble! </p><p>
I am so tempted to revert new start ups back to using a spreadsheet!
</p>Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-70253042530081220842022-03-02T09:08:00.001-08:002022-03-02T09:11:49.379-08:0030 Years of Service!This month has 3 major milestones.
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#1 It was 30 years ago I registered my first DBA and began this business. It's been a pleasure working with so many business owners in the 5 county area, helping them to succeed, grow and eventually to sell their successful businesses and retire.
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#2 My baby boy turns 40 this month! Yikes!
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#3 For the very first time, I'm taking a week off for spring break. I figure that's my perk for this anniversay. So, if you're not yet ready for your accountant, schedule your appointment ASAP, the airline ticket is already paid for! <a href="https://thebottomlinebookkeepingconsulting.fullslate.com/">https://thebottomlinebookkeepingconsulting.fullslate.com/</a>
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I look forward to continuing to serve the 5 county area in the years to come... this IS what I'm doing in my retirement.
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Thank you everyone!Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-31279562033340728652020-06-15T11:52:00.001-07:002020-06-15T12:02:58.380-07:00PPP Forgiveness<div class="" data-block="true" data-editor="edjsd" data-offset-key="a7h31-0-0" style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px; white-space: pre-wrap;"><div class="_1mf _1mj" data-offset-key="a7h31-0-0" style="direction: ltr; font-family: inherit; position: relative;"><div class="" data-block="true" data-editor="edjsd" data-offset-key="a7h31-0-0" style="font-family: Helvetica, Arial, sans-serif;"><div class="_1mf _1mj" data-offset-key="a7h31-0-0" style="direction: ltr; font-family: inherit; position: relative;"><span data-offset-key="a7h31-0-0" style="font-family: inherit;">15 minutes into a 2 hour webinar about PPP forgiveness... they just don't know yet. The one big difference is the amount you must spend on payroll was 75%, that's now down to 60%. We have 24 weeks from the date of the loan to calculate that amount in order to get 100% forgiveness. Right now, that date is Thanksgiving day. <br />
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Keep good records people! If you need help please don't hesitate to call. We may not know how this is exactly going to wash out at the end of the forgiveness period, but what's not forgiven, the repayment period has changed, it's now 5 years. Your goal now should be to spend on payroll! <br />
If you need help with your record keeping, please schedule an appointment.</span></div><a href="https://thebottomlinebookkeepingconsulting.fullslate.com/">https://thebottomlinebookkeepingconsulting.fullslate.com/</a></div></span><br />
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Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com1tag:blogger.com,1999:blog-5736082698434420230.post-59179160009020113292020-05-08T10:18:00.003-07:002020-05-08T10:18:46.202-07:00Social Distancing Bookkeeping continued....<div style="background-color: white; color: #666666; font-family: Helvetica, Arial, sans-serif; font-size: 12px; margin-top: 1em;">
I will continue working remotely until we reach stage 5 of this pandemic. I'm not afraid for myself, I believe I have a strong immune system because I work in <span class="text_exposed_show" style="display: inline; font-family: inherit;">many offices on different keyboards. And because of that, I could be a carrier. I want to keep YOU safe!</span></div>
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Please continue to practice safe distancing, wear face masks and wash your hands! The faster we get to phases 5-6 the happier we will all be!</div>
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Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-4907906988108032902020-03-20T07:32:00.001-07:002020-03-20T07:32:27.443-07:00Social Distancing BookkeepingRemote desktop Bookkeeping for QBK Desktop and QB Online.<br />
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I've long used remote desktop to help my clients. We get to see the same thing at the same time and can pass control of they mouse and keyboard back & forth... OK I'll be honest, I sometimes get a little grabby here. <br />
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I'm only connected to your computer during our session, with your permission. I cannot connect without you giving me your ID # and password that the program generates. Two years ago I was injured and couldn't drive and I used this method to service my clients, making sure their 941 deposits were paid on time and took care of whatever else they needed at that time. I expect to do the same next month when 1st. Qtr payroll taxes need to be processed.<br />
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Please use my online scheduler to book your appointment, April fills up quickly!<br />
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<a href="https://thebottomlinebookkeepingconsulting.fullslate.com/">https://thebottomlinebookkeepingconsulting.fullslate.com/</a><br />
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<br />Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com1tag:blogger.com,1999:blog-5736082698434420230.post-56317310328288016932020-01-31T12:09:00.000-08:002020-01-31T12:09:01.604-08:00Changes with Federal W-4 and Tax Withholding Recent changes in the Federal withholding tables are causing concern. Changes with the new W-4 are causing confusion. I'm here to help.<div>
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Even if you do NOT file a new W-4 you will be affected by the new Federal Income Tax Withholding tables for 2020. So even if you keep Married with 0 dependants you may see a decrease in your federal withholding, at times $20 - $60 less that last year with the same gross wages.</div>
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The IRS has given us the following information:</div>
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<a href="https://www.irs.gov/newsroom/faqs-on-the-2020-form-w-4">FAQs on the 2020 Form W-4</a></div>
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<a href="https://www.irs.gov/pub/irs-pdf/fw4.pdf">Federal form W-4 2020</a></div>
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Normally I suggest to employees that they update their W-4's after having their income taxes done. Income tax preparers and most software have projections and can suggest and most times print a new updated W-4 for you to give to your employer.</div>
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Because the changes have been at times so dramatic, people are growing concerned that they may be stuck with a large tax bill next year, so I've found the following help:</div>
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<a href="https://apps.irs.gov/app/tax-withholding-estimator">Tax Withholding Estimator</a></div>
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You will need last year's W-2 and your most recent pay stub with year-to-date totals before you begin using this estimator. When complete it will print an updated W-4 for you to give to your employer.</div>
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There is no limit on the number of times a year you can submit an updated W-4 and should always remember to do so whenever you have major life events, such as:</div>
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<li>Tax Planning</li>
<li>Moving</li>
<li>Marriage/divorce</li>
<li>Birth or death of dependant or spouse</li>
<li>Adoption of a child</li>
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Please ask your income tax professional for additional income tax planning advice. </div>
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Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-31500736082512190082019-08-16T07:52:00.000-07:002019-08-16T07:52:33.383-07:00The Cost of Online AccountngA while back I posted the truth about online accounting: <br />
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<a href="http://bottomlinebookkeepingservice.blogspot.com/2017/05/the-truth-about-online-accounting.html">http://bottomlinebookkeepingservice.blogspot.com/2017/05/the-truth-about-online-accounting.html</a><br />
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This week I received notice from Intuit that their QuickBooks Online Simple start has new pricing.<br />
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<b>"On the billing date, on or after October 1, 2019, your clients' QuickBooks Online Simple Start subscription will increase to $25 per month for the monthly subscription or $270 per year for the annual subscription, plus tax where applicable. If they have a discount, it will be applied to this new pricing until the discount expires. </b><br />
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<b>Please note that your clients will be notified of these pricing changes starting on August 28, 2019.</b><br />
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<b>Your clients can check their billing details using these steps to verify the changes that have gone into effect:"</b><br />
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So now, their most inferior product is costing more than their Desktop Pro Version. Buyer beware! In my practice I will always give my clients the most cost effective solution first, even when it means I teach them to do their own bookkeeping while I take on an advisory/review position. The Desktop Pro version is the "cadillac" of small business accounting. I've helped many startups achieve success with this product. It has all the management reports you need in daily operations. If you require a report that cannot be generated within QuickBooks desktop, I can export data into excel and further refine what you are looking for.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com1tag:blogger.com,1999:blog-5736082698434420230.post-72425739428616384362018-05-24T08:14:00.000-07:002018-05-24T08:14:02.986-07:00New BNI Midday Chapter opening just South of Traverse CityI would like to invite everyone interested in joining this chapter to visit next Tuesday 5/29. We meet at Incredible Mo's in Grawn at 11 am. <br />
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We have openings for the following professions:<br />
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Nutricionist<br />
Carpet/flooring Sales & Installation<br />
Commercial Real Estate Sales<br />
Construction - most ALL Trades<br />
Electrician<br />
Plumber<br />
Roofing<br />
Excavating<br />
Finish Carpenter<br />
Handyman Services<br />
Gutter Sales & Installation<br />
Home Inspectors<br />
Kitchen remodlers<br />
Siding Sales & Installation<br />
Personal Banker<br />
Estate Attorney<br />
Family Attorney<br />
Property Manager<br />
Travel Agent<br />
Auto Mechanic<br />
Auto Sales<br />
Event Planner<br />
Videographer / Photographer<br />
Salon Services<br />
Physical Therapist<br />
Business Coach<br />
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<br />Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-2935552807995609252018-05-10T04:38:00.003-07:002018-05-10T04:43:06.998-07:00State of Michigan Unemployment Notices<div class="separator" style="clear: both; text-align: left;">
The State of Michigan Unemployment sent notices on 5/3 that your first quarter Unemployment taxes were past due and added interest. They goofed, we did schedule payments for 4/25 and they didn't post them until 5/3. Please disregard the notice and rest assured that your 1st. Qtr. payroll taxes were processed and paid on time.</div>
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<br />Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-38363131463018756652017-05-25T19:13:00.000-07:002017-08-02T07:49:11.075-07:00The truth about online accountingI don't see personal computers going away any time soon, so as long as you have and maintain a desktop or laptop, why not utilize it to the fullest? <br />
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#1 Security - If you are using your laptop or mobile device on a public wi-fi you are opening yourself up to security breaches. If you are using a "cloud based" solution, all of your financial data is being hosted on a web server, and you don't have control over the security of that server. Many use Amazon servers, and we all know Amazon has been hacked. IT professionals may tell you that the "cloud" is more secure because they have a team of professionals fighting off hacking attempts. Yes, they are being attacked because they are the keepers of the "honey-pot".<br />
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#2 Connectivity - You MUST be connected to the internet to access your accounting. While internet is much more stable than it was in the past, but depending upon your network and your bandwidth you will experience inherent latency, slowness and at times simply waiting for your data to refresh and update. Many online accounting software is designed to be used with point & click, or screen tap rather than keyboard input. This will slow your capability to input data efficiently.<br />
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#3 Cost - Online solutions are subscription based, usually an annual or monthly fee. You don't have to remember to pay this bill, they auto debit your credit for debit account. One of the most popular programs for small businesses is QuickBooks Pro (QBDT), which costs $200 or less and each version is currently being supported for 3 years. If you look at QuickBooks Online (QBO), <a href="https://quickbooks.intuit.com/online/compare/">"Compare QuickBooks Online to Desktop"</a> Simple Start is basically worthless, you're limited to 20 Vendors (people you spend money with), <b>QBO Essentials cost $24/mo., $288/yr., $864/3 yrs.. Costing you nearly $700 more than QBDT. Essentials is still very basic. Then you look at their QBO Plus offering that one costs you $35/mo., $420/yr., a whopping $1,260/ 3 yrs. That's OVER $1,000 more than QBDT! WoW!</b> <br />
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#4 Features - You'd think that if your spending over $1,000 for a 3 year period you'd have a ton of features. NO! Below are the report menu view from QBO Plus and QBDT Premier. <br />
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<div class="separator" style="clear: both; text-align: center;"><figcaption>QuickBooks Online Report Menu</figcaption><br />
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<div class="separator" style="clear: both; text-align: center;"><figcaption>QuickBooks Desktop Report Menu</figcaption><br />
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As you can see the QuickBooks Pro/Premier have many more financial reports. (Premier only adds some industry specific reports.) <b>Another major features that is NOT available for QBO is Job Costing.</b> That alone makes this unusable for anyone in the construction industry.<br />
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Finally, bookkeepers and accountants are making more money using this software. They can now bill by project rather than hourly. When a bookkeeper comes on-site you receive personalized attention, we delve into more questions than just simply reconciling or processing your A/P, and you pay us by the hour that we're there rather than a flat project fee. I've seen some accounting firms charging $250/mo. for simple bank reconciliations and payroll tax processing. Something I can typically do in an hour or two for $50/hr.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com2tag:blogger.com,1999:blog-5736082698434420230.post-22005465076755113782016-01-08T19:36:00.000-08:002016-01-08T19:36:15.359-08:00Michigan Treasury OnlneI'm optimistic for the future of State of Michigan Treasury Online services. <a href="https://www.michigan.gov/taxes/0,4676,7-238-43519_67656---,00.html">Michigan Treasury Online</a> is currently undergoing a system upgrade and promises to have a friendlier user experince. The new site will be up on January 16th. I look forward to exploring this and helping to get more of my clients able to make their Sales, Use and Withholding taxes online.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-14871870709139031892016-01-02T07:05:00.002-08:002016-01-02T07:06:40.829-08:00QuickBooks Usage & Analytics StudyI am not comfortable with Intuit collecting my or my client's data. I'm turning this off.
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"<b>About the QuickBooks Usage & Analytics Study</b>
Only the administrator of the company file can turn the QuickBooks Usage & Analytics Study on and off. Once you turn it off, you can't turn it on again.
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<b>What data is collected?</b>
We collect information about the features our customers use, how they navigate through the product, and other demographic and quantitative data. We also collect information about your license, product, system, or other technical data that help us direct you to the appropriate information or services. We don't collect data that is identifiable to your employees, customers, or vendors.
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<b>How will Intuit use your data?</b>
We will use the data to improve your experience, to enhance our products and services, and to recommend products, services, and promotional offers that we believe will add value to your business. We won't sell, publish, or share data you entrust to us that identifies you or any person without your explicit permission.
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<b>How is the data transmitted?</b>
The transmission of data is secure and encrypted. Data transmission takes place in the background without disturbing your current tasks and shouldn't affect the performance of your computer.
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<b>What if you don't want this data collected?</b>
If you prefer not to have your data collected, or if you change your mind about participating in the study, choose Help > QuickBooks Usage & Analytics Study. Then click Discontinue."Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com4tag:blogger.com,1999:blog-5736082698434420230.post-67874155588950320942015-12-16T18:32:00.000-08:002015-12-16T18:32:48.094-08:00Windows 10 and Quickbooks 2016I've never been an early adapter of operating systems, and there's a reason why. I don't care much for being an unpaid beta tester that gets frustrated and experiences loss of productivity at work.
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Now... I have a couple of clients who have this new duo and are experiencing frustration and loss of productivity and turned to me for help. I'm sorry, I had to tell them to file this experience in "lessons learned". Please call your trusted professionals for their opinion BEFORE major upgrades. Please don't trust the big-box geeks.
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Last week all worked until we tried to edit downloaded bank transactions. They would not save and we ended up manually entering the transactions. Lucky for us this client has a one page bank statement. I have another with a 13+ page statement who luckily has followed my advice.
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Last month another client was so frustrated she went out and bought a new computer... this time a Mac... argggg.... I'm sorry, I know I'm going to get a lot of people mad, but Mac's aren't built for accounting. They are very great with high-end graphics. While the Mac version of QuickBooks is getting better, today we were unable to locate the USB thumb drive to import the data file. I recommended she go to the Mac store and ask for a referral to a bookkeeper that that knows Macs... or, keep installing updates and restarting her Win10/QBK2016 PC until all the bugs are worked out.
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While I may know a few things about computers and software, I'm certainly not the expert, but I can steer you in the right direction for good advice. I follow many different forums and blogs, I read about all the frustrations the early adapters are experiencing, and see the links to the "workarounds" that others have discovered, many too complex for the average computer user to attempt. So, I sit and wait and give you the best advice I can.
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For everyone using QuickBooks 2013, you must buy QuickBooks 2016 NOW, while it's on sale. But... wait until next spring to install it. Your QBK 2013 will run until April 15th. By then, the majority of the bugs may be worked out.
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Happy Holidays!
Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-48440026629279770672015-07-19T08:46:00.000-07:002015-07-19T08:48:13.052-07:00Why you shouldn't give employees payroll advancesFirst of all, you're not their parent or their bank. I see this happening most often in businesses with a young staff. You do want to help them out, they made a good plea, but then all too often they up and quit before the cash advance is repaid through payroll deductions.
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Saving is a good habit to develop early, but all too often people's finances are stretched to the limits with nothing left to save for those "rainy days". It's not enough to live within your means, but you need to live BELOW your means in order to have enough money left to save.
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Encourage your employees to step back and look at their spending habits before you so generously advance them pay when something happens that they are not prepared for. It's never a matter of "if" something will happen, just "when". How much are they spending on cable TV, cell phones, dining out, specialty coffee? Again, you are their employer, not their parent but you can bring up this topic when they come to you for an advance.
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There are more and more of these "Payroll Advance" type businesses today, mainly because they are making a ton of cash in interest on payroll loans. These make me sad... they are basically just keeping poor people poor.
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I'm a big fan of Direct Deposit for payroll. Especially when we encourage employees to split a percentage of their paycheck into their savings. There are fees involved with any automated banking transaction, but I'd guess that in the long run, these fees are less than employees leaving without repaying advances. And, you'll be helping to create another generation of savers, and when something does happen, they will be prepared.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-87108503043687871642015-03-17T19:51:00.000-07:002015-06-13T15:10:46.463-07:00Online scheduling now available!<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-ngMlyq-woUA/VQjj2rhgSDI/AAAAAAAAAGE/cjwhJzovAUA/s1600/Sch.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://1.bp.blogspot.com/-ngMlyq-woUA/VQjj2rhgSDI/AAAAAAAAAGE/cjwhJzovAUA/s320/Sch.png" /></a></div>
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No more "phone-tag!" Go <a href="http://www.tblbookkeeping.com/">www.tblbookkeeping.com</a> and click on the <a href="http://thebottomlinebookkeepingconsulting.fullslate.com/"> Schedule Appointment</a> link. Request the appointment whenever it's convenient for you, as soon as I'm able I'll confirm your appointment and send you that confirmation.
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If the time you want isn't available... no worries! Request first available and as soon as an earlier appointment becomes available, I'll contact you. My schedule changes all the time, I try my best to accommodate everyone's schedules as best I can, but I understand that "life" happens, and schedules change all the time.
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I'm looking forward to using this new "tool" to better serve your needs.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-23764322067760528572015-02-12T18:25:00.000-08:002015-02-12T18:25:37.211-08:00Michigan Treasury Online - failThis website is not yet ready for the amount of traffic it needs to handle. Myself and a few of my clients have spent hours trying to get registered and to simply pay our state payroll and sales taxes on time. I don't recall having such a hard time giving the state money before. Today, I finally got a live person on the phone at 4:50 PM. He kept insisting that we use the web site <a href="http://www.michigan.gov/business">http://www.michigan.gov/business</a> which by the way clearly states that they are having difficulty and to try accessing the site again later.</br>
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After several attempts of him telling me how to access the web site, and me telling him it was broken, it wasn't until after I threatened to send the payment in on an old coupon using white-out to correct the date did he finally give me a link to a new coupon.</br>
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For those of you who have gotten the site to work and have successfully paid your taxes on the new MTO site, please let me know. For the rest of us bogged down in a broken web site... here's the new form. <a href="http://www.michigan.gov/documents/taxes/5080_477903_7.pdf">MI 5080, 2015 Sales, Use and Withholding Taxes Monthly/Quarterly Return</a>. If you do as I was threatening, and use an old coupon, I was told they would refuse payment at the old address. Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com2tag:blogger.com,1999:blog-5736082698434420230.post-16309743055805251542015-01-31T14:25:00.000-08:002015-01-31T14:31:10.746-08:001099's W-9's and Certificate of Insurance....This time of year is very busy for bookkeepers. We have until the end of January... or this year it's Feb. 2nd. because Jan. 31 falls on a Saturday, to print and mail W-2's to employees, and 1099's to sub-contractors.</br>
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If you're not certain if a worker is an employee or a sub-contractor, please refer to this IRS Link <a href="http://www.irs.gov/pub/irs-regs/subcontractorsfaq&a.prn.pdf">Subcontractor FAQ</a></br>
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To save yourself time, trouble and money this time of year, please get into the habit of asking your subcontractors for their <a href="http://www.irs.gov/pub/irs-pdf/fw9.pdf">W-9, Request for Taxpayer ID</a> and for a certificate of insurance from them as well. This will really save you time and money once your Worker's Comp Audit rolls around.</br>
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Example, you need the type of help a subcontractor can provide, such as computer repair or help with a remodeling project. You find someone who's highly recommended, they do the job, you pay them and the two of you part ways. Now comes year-end and we need tax ID's and mailing addresses... whoops, you forgot to get that when you contracted them. You call, the phone number is no longer in service, or they've moved and not left a forwarding address. If you've paid them over $600 per year, you're responsible for issuing them a 1099 at the end of the year. Not doing so may result in a $50 fine per occurrence and disallowing the write-off. In other words, someone is going to pay income taxes on that money, if not them, then you will.</br>
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To add insult to injury, along comes your Insurance agent, it's time for your annual Worker's Comp Audit and you not only don't have their tax ID and contact information, but you also don't have their certificate of insurance. This results in you having to pay higher workers compensation insurance.</br>
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Bottom line... <b>No one gets paid until they've provided you with a W-9 and certificate of insurance!</b>
Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-70296924638356602542014-12-05T07:20:00.000-08:002014-12-05T07:26:10.708-08:00Beware Chemical Bank Bill Pay Policies!<p><b>Deliver By and Send On dates!</b></p>
<p>Old Northwest Bank customers were spoiled with their progressive adaptation of banking technologies. I loved the bill pay service that NW Bank offered. You simply setup your payees and told the bank how much and when to send a paper check in the mail. The funds cleared when your payee actually cashed the check.</p>
<p>Now Chemical Bank takes the funds out of your account on the "send on date" that the transaction is processed. Say they need a week to process a check. This means the funds are withdrawn from your account the day they process, "send on date", not the day the check mailed, "deliver by date" or is cashed by your payee. This can result in overdrafts. Chemical bank is holding your money hostage and messing with your cash flow!</p>
<p>Chemical bank also only allows transaction downloads from their ePersonal accounts in Quicken format. All of my accounts, business and personal, were converted to ePersonal and I had to go through a big deal to fill out a form to have my business account converted to eBusiness so that I could download my transactions in QuickBooks Web Connect format. I've spoken to them about this, they don't seem to understand that Quicken and QuickBooks are two different programs.</p>
<p>I brought NW Bank a lot of customers (my clients), and now we will be shopping for a new bank.</p>Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-73251425900050132312014-10-31T11:33:00.000-07:002014-10-31T13:09:23.277-07:00NW Bank to Chemical Bank<b>Mark your calendars!
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Download transactions before Friday, November 7th at 5 pm</b>
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This is a reminder to everyone who uses Northwestern Bank in Northwest Michigan, if you use their transaction download feature, Friday Nov. 7th before 5 pm. will be the last time you will be able to download transactions from www.nwbank.com. Monday, Nov. 10th starts with new Chemical Bank accounts.
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Start making a list now of all the automated bill paying you have setup. After Nov. 10th you'll have to update each one with your new account number and possibly a new bank routing number as well.
Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-21944180074321747842014-07-30T06:30:00.000-07:002014-07-30T06:32:26.960-07:00Minimum wage increase 9/1/2014Here's the <a href="http://www.michigan.gov/documents/cis/MWPosting.Optional_9_25_06_single_page_173925_7.pdf">Michigan Minimum Wage Poster</a> for download.<br>
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If you aren't already paying your employees at least $8.15 per hour, you will need to give them a raise Sept. 1st. $3.10 for tipped employees and $7.25 for minors 16 - 17 years old.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-8459232704653031612014-06-22T12:52:00.001-07:002014-06-22T12:52:24.000-07:00QuickBooks 2014 R6 Has Bugs!<a href="http://www.sleeter.com/blog/2014/06/quickbooks-2014-r6-bugs/">QuickBooks 2014 R6 Has Bugs!</a>
We only have a few clients on 2014 now, and have not seen any of the bugs reported in this article. It's always a good idea to keep a close eye on any new release.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0tag:blogger.com,1999:blog-5736082698434420230.post-32597566340526581382014-04-19T11:30:00.002-07:002014-04-19T11:33:30.719-07:00QuickBooks Online App Warning<a href="http://www.sleeter.com/blog/2014/04/quickbooks-online-app-warning/">An App You Use with QuickBooks Needs To Be Updated!</a>
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I've long felt that it's dangerous to base your software on the "shoulders" of another, yet that's the common practice in so many Add-on applications. You have no control over if/when the other company will be making a change that will "break" your application.
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I've been advising my clients that QuickBooks Online is not yet ready for "Prime-Time", and I'm still not convinced that accounting "In the Cloud" is the safest thing to do with your financial data.
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I'm still exploring options, but in the meantime, if you are still using QuickBooks 2011 AND processing payroll yourself, you have until May 31st. to upgrade the software. I'm happy to report that QuickBooks Pro/Premier 2014 will not require most businesses to upgrade their hardware this time. I believe we've finally tipped the scales where we can run our hardware until it wears out and aren't forced to upgrade hardware with our software every 3 years.Linda Maginityhttp://www.blogger.com/profile/16364779485323108343noreply@blogger.com0