QuickBooks Mac 2019


It's back! QuickBooks for Mac has a new update for 2019 (last update was for 2016 at which time Intuit announced it would never update the Mac version again so this is a happy surprise). Here are a few of the more prominent features released with this update:


iCloud Document Sharing – Convenient method for sharing QuickBooks for Mac file using iCloud sync. Modify your books on your work Mac computer then continue where you left off on your home Mac computer.
Bank and or Credit Card Reconcile Discrepancy Report – Identifies changes made to reconciled transactions (for newly created transactions, not those prior to this release).
Square Import - Importing sales data from Square via use of .csv file type.
Email Tracking – Track dates emails sent with a tab in the Vendor or Customer Centers.
Report Windows – Improved spacing and readability.
User Passwords – Now required. Personal information is encrypted.
This content is from Laura Madeira's, QuickBooks Desktop 2019: What's new and improved. For all the changes coming with various versions of QB 2019, here is the link to her Firm of the Future blog:  Laura Madeira's, QuickBooks Desktop 2019: What's New and Improved.

The picture is from Insightful Accountant. Here is the link to their article:
QuickBooks 2019 Desktop - 'Our Summary'

Intelligent new bookkeeper & Scope of work (SOW)


Join me in welcoming Denine Vajja  as a bookkeeper for QC Computing. She's skilled, intelligent and insightful. Of all the questions bookkeepers ask me, no one has ever asked me such an intelligent question.
                She wanted to know if I wrote up a formal Scope of Work (SOW) with clients and if so, what did it say?
                First of all, what is a scope of work? It's a document that outlines what the accountant will do for the client. If your accountant bills you an agreed upon rate, say $1K a monthy, they've given you a scope of work. Last time I offered a client a fixed price for the day, he kept me there for an 18 hour day! My goal is to offer that comprehensive scope of services, just not all in one day, and not at a rate where we lose money. That's why we charge hourly.

Our clients' businesses are small. By problem solving, creating organization, outsourcing payroll, engaging technology, and writing documentation I've dialed in their monthly bookkeeping so that it only takes a few hours a month. An hourly rate passes the savings onto the client. Ironically, our Scope of Work is unlimited. Denine understands that very well as she's been the one and only full time accountant for a corporation, so she can now bring that full level of service to your small business.

Income from a Property Management Company or Use Sales Receipts for Depositing Income

Almost every day I learn something new. Today is was how to enter in income from property that you own that is managed by a property management company.

Every month the owner of the property will get from the property management company a statement similar to the following:

Rental Income $1000
- Property Management Fees $100
- Repairs this month $45
= Total Check (direct deposit)  $855.00

Typically bookkeepers enter these 3 lines directly in the "Make Deposits" window in QuickBooks. Unfortunately, it won't appear connected to the customer in the customer center because QuickBooks is "forms based" software. A sales receipt is a form, so if you enter it there, instead of directly into the deposit screen, the data will be attached to the customer.

Your customer is the Property Management Company.

Add 3 lines items in the Products and Services List for each property.
1. Location Rental Income (default amount to rent), posts to Rent Income
2. Name of Property Management Company fees (default amount to their monthly fees), Posts to expense account Property Management Fees. 
3. Location Repairs, Posts to expense account Property Repairs. 

Every month, enter the deposit using a Sales Receipt with these 3 line items.
Location Rental Income is positive.
Name of Property Management Company Fees as a negative
If there are repairs, Location Repairs will be negative too.
The total of the Sales Receipt is the amount of the check.

Note on the accounting: While it may seem counter intuitive to post a negative line item to an expense account it works out perfectly, because a double negative is a positive, so your rent income is positive, and your expenses are positive on the P&L too.

Enter the check # into your Sales receipt. If the money is direct deposited, you can deposit it directly from the sales receipt. And it all shows up under the customer center!

This is a terrific solution, because I'm wondering if one property management company overcharged my client? Now I'll be able to show him clearly what happened and let him sort it out.

Isn't this the coolest solution ever?



2018 WA State Paid Sick Leave Policy


The Low-Down 

Employers must provide a one-time notification to each employee of their paid sick leave rights. WA L&I has developed the employee paid sick leave notification form. Below is a sample form we created from their requirements. 

Employees must provide a “reasonable notice” for an absence from work for the use of paid sick leave for an authorized purpose. 

An employer may choose whether to provide a financial or other reimbursement after 40 hours accrued for the following year.  (ie- if the employee has 52 hours accrued, you may cash out the 12 remaining hours).  

Sample Form: Employee Paid Sick Leave Notification 

Cut and paste the following or just copy the words to create your own company form for employees to sign, and for you to keep in their employee file.

MyCompanyName Employee Paid Sick Leave Notification

Sick leave will accrue at one (1) hour of paid sick leave for every 40 hours you work starting 1/1/2018. You are entitled to use this accrued paid sick leave beginning 90 calendar days after the start of your employment, for any of the following reasons (as outlined at RCW 49.46.210(1)(b) and (c)):
  • To care for yourself or a family member;
  • When you or a family member is the victim of sexual assault, domestic violence, or stalking; and
  • In the event our business or your child's school or place of care is closed by order of a public official for any health-related reason.
  • Accrued, unused paid sick leave balances of 40 hours or less will be carried over to the following year.
 Signed: ______________________________  Date: ___________________

Retaliation against you by Company name for using paid sick leave for authorized purposes, or for the exercise of any rights under the Minimum Wage Act (chapter 49.46 RCW), is prohibited.                       



Sample Form: Employee Extended Sick Leave Verification


The state of WA says that if the employee wants more than 3 sick days off in a row, they need to provide you with some proof. of sickness. Here is the WA L&I official form for that possibility, attached, for you to download: 
Sample Form Employee Extended Sick Leave Verification 


The research for this blog post is credited to Shelly Tutt, bookkeeper @ QC Computing LLC.