Madeline Bailey gains QuickBooks ProAdvisor Advanced Online Certification

As the principal of QC Computing, I've been certified in QuickBooks Online for many years now, but only recently had time to pass the ADVANCED Online Certification.
Passing this test required a broad range of advanced accounting sills and months of in-depth study on the features and capabilities of Intuit QuickBooks Online Accounting Software. It was harder than that even. I joke that clients tell me what they want. I had to figure out what the test questioner wanted all on my own.
A recent survey found that there are less than 15 Advanced Online Certified ProAdvisors in the greater Seattle area, out of about 100 total ProAdvisors of all varieties (such as consultant, bookkeeper only, tax preparer, etc.)
Advanced QB ProAdvisors Consultants are uniquely qualified to offer you great value in designing and implementing systems, customizing training to your specific needs, utilizing lesser-known program features, and thereby dramatically increasing productivity and profitability.

Rolling out the QuickBooks Online New Reconciliation Screens

QuickBooks will have a new reconciliation screen soon. It's already rolled out for Accountants, so I've gotten a chance to use it. Here are some tips and things to watch out for. 

First up, I would forget I was working in 2016, and enter in a statement ending date of 2017. Instead of seeing just the month of transactions one sees the entire year. When I went back to fix my mistake to the correct 2016 ending date, it would still show me the entire year, not fewer transactions. That feature is now controlled by a funnel, where one has the choice to say, "Limit what I see to statement ending date". Look for the funnel icon to the top right of your reconciliation screen for this feature. 

Next up, I'd have to leave my work for awhile, so I'd select "Leave" on the reconcile screen and close down the software. When I returned, my opening balance would be off. What the heck? Turns out, QuickBooks automatically enters an opening balance entry and reconciles it for you. I learned to do a Find by Amount, find the reconciled entry, and delete it to get my opening balance back to the correct amount. It's supposedly a feature to help you start a new reconcile on a new account, but at this point it's a bug.

Last up, I learned that the reconcile goes faster, i.e. more accuracy, if one selects the Deposits screen first to click off all the deposits, then Expenses screen next to click off the expenses. Apparently, that's how it was coded and tested, because it works better. I always respect the software and give it what it wants. As one friend says, "That's how I roll". 

"How I roll" is that I learn these things the hard way so that I can make it look easy for you. 

Update your Salestax Rates

Effective TODAY. This is not an April Fools Joke.

Many cities in King County, WA now have 10% and higher sales tax rates. It's now 10% in Issaquah, 10.3% in Bothell, 10.1% in Seattle.

Here is the link to the new rate sheet for you to print out and update your QuickBooks.

New Salestax Rates

Salestax rates are found on the item list for Desktop, in the Salestax area for QuickBooks Online.
Do not just update your QuickBooks salestax rates in-line.
Add new rates codes, and leave the old ones as is for reporting and auditing purposes.
If we're doing it, we'll rename the old ones first, so the new names will be the same names you're familiar with.
I or one of my bookkeepers can come out and fix this for your business, plus anything else you want help with.

Looking forward to making sure you make more profit!

Does an education prepare you for small business accounting?

This blog post is thanks to Shelly, one of the bookkeepers at QC Computing, and the person in the black sweater. 

Numbers and organization comes naturally to some people. I'm one of those lucky individuals. I’ve always enjoyed working with numbers. To that end, I'm the one who manages the books and paperwork for the business my husband and I own.

After handling the organization for our business, I decided to go back to college and get my degree in accounting.  As I advanced towards my degree I decided that I would like to use my knowledge to help other small business owners. I believe small businesses are the back bone of America.

Once I started working with Madeline, I was astonished to discover that she had this entire level of expertise that a college and an accounting degree had not afforded me. Although nothing will replace the value of my education, it's exciting to discover that there is so much more to learn.

I learned how to apply real world situations to a Profit & Loss Report, the true meaning of Equity in understanding a Balance Sheet, and how to simplify business financials.  I now look at the glitches of my own business differently. I'm able to find simpler solutions to the bookkeeping and paperwork for my business. That, in turn, has improved the profitability, which is awesome. 

Perhaps you're a well educated business owner? Maybe you even have an MBA or a PhD in Business? Now that you have a start up business, don't be shy about calling Madeline and I to help you. You may find that we can show you simpler solutions to your accounting needs than you knew about already. That in turn, may also improve your profitability too.