Posted by bob/IA on 3/2/13 3:52pm
Msg #458940

Quickbooks

For those of you who use Quickbooks what version are you using? Does it address all your accounting needs as a Signing Agent? TIA.

Reply by John Tennant on 3/2/13 4:01pm
Msg #458941

I got my Quickbooks as part of the Quickbooks Pro Advisor course I took in 2010. If you take your time setting it up it will handle all of the things you need including (if you want a lot of detail) the actual material costs per signing. Mileage for each signing and trips to "drop". Invoicing, Accounts Receivable, Accounts Payable, Owner Draw, etc. And the accounts can be set up to automatically marry up to the IRS Schedules C and SE. If a person is going to stay in this business, or for that matter any business, Quickbooks will be a major plus to monitor if you are actually making money or not.

Reply by Amber TRIPLE A SERVICES LLC on 3/2/13 4:21pm
Msg #458944

What version of quick books are you using?

Reply by John Tennant on 3/2/13 4:47pm
Msg #458946

I am using Premier Accounting with the latest updates.

Reply by Jessica Ward on 3/3/13 9:44am
Msg #458994

I'm using the 2010 edition and it does everything I need and more.

It's great to have ONE accounting system that handles my three businesses.

Also, I don't speak CPA, but Quickbooks does. I can just send my CPA my QB file and he knows what's going on.

Reply by sueharke on 3/3/13 10:04am
Msg #458999

QuickBooks are great IF the program is setup correctly and data is correctly entered. Otherwise, it is just Garbage In, Garbage Out. I know of at least one or two people who use QB and really need to start over because of all the errors in the program he or she is currently using.

Reply by ananotary on 3/3/13 1:28pm
Msg #459028

Sue- what program do you recommend? n/m

Reply by sueharke on 3/3/13 4:15pm
Msg #459041

Re: Sue- what program do you recommend?

Any method that reflects your income and expenses. This can be an excel spreadsheet, a $1.00 notebook that is handwritten where you record income on one page, expenses on other pages. The IRS only asks that your accounting records reflect your income and expenses and they do not require computerized records. If QB or any other accounting program works for you, use it (but be sure to backup the data on a flash drive in case your computer crashes).

I have told some people that the IRS will accept records written in crayon on paper if it achieves this goal.

Some people are not computer literate. Some people are so busy that he or she does not have time to do their own bookkeeping; hence, hire it out and make money doing what you do best. Paying a bookkeeping service is not out of line if you can make more money doing notary work If you do hire out the bookkeeping, ask for a backup copy from the service as I have seen some accounting service companies go out of business and the client never sees his or her records again.

Reply by Eric Andrist on 3/3/13 4:11pm
Msg #459040

I got the trial version to check it out, but almost immediately decided to hold off using it as it charges you to sign up for e-statement downloads from your bank.

Reply by sueharke on 3/3/13 4:22pm
Msg #459043

I choose not to use the download feature from my accounting software due to the possibility of hacking. I do my bookkeeping on a separate cheap laptop (that runs XP), I do not get any e-mail or do web surfing on this computer. This is based on a recommendation from Clark Howard (TV and radio financial person).

Are you aware that business banking accounts do not have the same protection as personal checking accounts? If someone gets into your personal checking account, you have recourse to get the money back. If it happens to a business banking account, you do not have the same recourse. A person can clean out your business checking account and you may be lucky to get any of it back. I suggest asking your bank about your rights for your business checking account.....

Reply by laurielnc on 3/3/13 6:59pm
Msg #459053

I'm using Quickbooks Pro 2011 and have to update every 4 years because we own a Franchise and have employees so the tax table won't work after a period of time. They make you upgrade. Love Quickbooks and so does my accountant. I have mutiple companies in Quickbooks which makes accounting for different businesses great. I've been using Quickbooks for over 18 years.

Reply by bob/IA on 3/3/13 7:45pm
Msg #459055

Thanks all for the response. I had some rewards at office Max that needed to be used so I bought QuickBooks Pro 2013. Was wondering if I should step up to their next level but I imagine this will do all I need. I have 2 weeks in which to do a little research and make up my mind.

Reply by sueharke on 3/3/13 8:30pm
Msg #459058

I suggest making time to use the classes at the Small Business Administration Development Center on how to use QB correctly for your company. It is a great program when properly setup and used.

Reply by sueharke on 3/3/13 8:31pm
Msg #459059

You are a great example of a company or person who should be using QB. Love your reply.