When To Opt For QuickBooks Online Solutions?

When it comes to small and medium scale business enterprises, the deciding factor for the CPAs is not whether to go for QuickBooks accounting solutions. In fact, the dilemma is about deciding which installation solution to opt for. The options available for the deployment of QuickBooks are mainly on-site and off-site cloud based hosting. Hosting solutions are further sub-divided into first-party cloud solution and third-party cloud solution. Apparently, third-party QuickBooks online solutions seem to be quite a feasible option.
What is the process of QB installation and usage with cloud service providers?

 The hosted QuickBooks provider is an external service provider that manages huge capacity servers to host a number of applications.

There is nothing that the user requires at his end except for an updated PC and an internet connection. The major benefits associated with the use of QuickBooks online solutions are:

Multi-user environment: When deploying QuickBooks on a single computer, only one user can access it at a time. The benefit of a hosted solution is that your copy of QB along with your license will be installed on a remote server. This software becomes platform-independent once it is hosted. This allows the users to access their QB accounts from anywhere all over the world. When considering a premise-bounded solution, the user has to manage a server for maintaining multiple user access which is infeasible when there are just 3 or 5 users. QuickBooks hosting allows any number of user accounts to be set up and maintained remotely thereby minimizing investment while maximizing efficiency and association.

Seamlessly integrated functionality: Many times, the newbie users feel that the hosted solutions lack some functionality. Perhaps this confusion is because the users feel that the hosted QuickBooks solution is different from the regular desktop version. The truth is that the users can have any version hosted on the servers of the hosting providers. These versions generally include QuickBooks Premier, QuickBooks Enterprise and QuickBooks Pro. So, the users can have all-time access to any feature that they want without having to set up any hardware at their office.

Complete data backup facility: One of the major benefits of using QuickBooks online solutions for SMBs is the complete backup of data. In case of any natural calamity or disaster, your data can be secured. Most of the service providers back up data at the end of each day and replicate this backed up data at various locations. This ensures that harm to a server at a single location does not hamper the data being backed up at another server.

Hassle-free access from anywhere: While opting for QuickBooks hosting solutions, the major benefit for the users is that they can travel anywhere and still stay connected with their accounts and billing information. All they need to do is to login from their account and manage all the functionality over the hosted QuickBooks platform. Moreover, if you have accountants or finance related people working from their homes, they can easily get connected without any hassles. This also saves the expense of maintaining an on-premise accounting department.

What to opt for? If yours is a small or medium scale business enterprise in the starting stage of business, a hosted solution would be the best choice. This solution is however not suitable for the large business enterprises that have massive capacity servers set up at their business premises. These enterprises generally have a technical team for the maintenance of these servers and thus, the management can be handed over to them. In the case of small businesses, this would account to extra cost and effort which can be saved through hosting.

Liza Welch is an IT Expert at Real Time Cloud Services which is a leading Cloud Hosting and Application Hosting company. The company specializes in QuickBooks hosting and hosting of many other software.
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If you would like to learn more about Quickbooks in a classroom setting then why give Chris Le Roy's Quickbooks Courses ago. He offers Brisbane Quickbooks Courses and Townsville Quickbooks Courses every single month. Don't miss out because they are very popular.

 

 

How to Think of a Business Idea

By Linus Felix Awengen  
 
Everybody has chances. Everybody has opportunities. No matter in what situation a person is. It is about coming up with a great business idea and developing it. You don't need to have the best university degree to come up with an excellent business idea. All you need to do is think. Think a lot.

Step 1: Ask yourself questions

This is a very fundamental part of coming up with something new. Ask yourself questions. What are your talents and passions? What could be improved in the world? What annoys you every day? Are there situations in your life where you think that there could be improvements in a certain field? These are the kinds of questions you should ask yourself. By the time your brain will start working and will come up with ideas. Write down your ideas with only one word. Make a whole list. Be aware that this is a very tiring task. Make sure you are in a good physical condition when you do this.

Step 2: Take a pencil and a piece of paper

It is time for brainstorming. Take your pencil and write down for two minutes everything that comes into your mind. No matter if it concerns something innovative or not. It is more about rambling and coming up to some conclusions afterwards. In order to have passed a successful brainstorming session, you have to write down everything that comes into your mind throughout the whole 2 minutes. By the time you will have loads of content on your piece of paper or even pieces of paper.

Step 3: Evaluation and research about your ideas

Here comes the part where you have to do some research about your assumed new things. But before you start with them themselves, you have to take all the pieces of paper you used and to select what could be possible business ideas. Write them down on a new piece of paper. Now you have all the potential business ideas. Start doing research on the internet whether they already exist or not. Cross out the possibilities that already exist. Usually you will only have very little business ideas left which you couldn't find on the internet doing research.

Step 4: Select one business idea

This step is where you make your decision on which business you want to focus on. Where you want to dig in deeper. Become an expert. Apply your knowledge to found your own business. Make sure you really know a lot about the topic.

At this point you have come up with an own business idea. Congratulations! You are now about to make a step forward to entrepreneurialism. A very exciting and interesting world!

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Business Printed Checks With Quickbooks

Checks issued from banks may not suit a business for most purposes. Custom-designed checks that reflect the values and style of the company are a more preferred option. Most of the accounting software like Quicken, Peachtree, MYOB and QuickBooks provide the option to use custom-designed business checks.
QuickBooks is an accounting package that is used by most businesses.

If you are one of them, all you need is a good supplier of business printed QuickBooks checks in order to start using your own custom-designed checks for your company. Find a supplier who can also provide business envelopes, deposit slips and endorsement stamps to match your checks. The QuickBooks software has a good collection of tutorials that teach you how to use printed business checks on your printer. The software is so intuitive that beginners as well as advanced users can make good use of its features.

For quick and easy ordering of supplies, choose a supplier who has an online presence. See if they have an inventory of printed business QuickBooks Checks in a wide variety of styles and colors. You should be able to choose a style that suits your specific requirement. If you cannot find the colors and style you are looking for, then move on to another supplier who has a better collection and variety of designs.

Choose a site that has an easy and intuitive ordering procedure. Especially when you need supplies in a hurry, a site that has a streamlined ordering procedure would be extremely useful. When you order once, all your contact details and preferences would be stored on the supplier's site. The next time you order supplies, you would not be required to enter your contact information all over again. Choose a site that offers this feature so that your ordering process in quick and smooth every time.

Many sites offer quick start packs that help you get started quickly with customized printed checks. They come with around 200 or more computer checks, about 100 deposit slips and an equal number of window envelopes, and an endorsement stamp. Choose a company that has such packages in order to get started quickly. Ensure that the supplier also has a good shipment system so that the packages you order reach you on time.

Once you locate a good supplier of printed business QuickBooks Checks, you can streamline your accounting process and speed up your check printing routines.

Visit http://www.checkomatic.com/ to order customized Quickbooks Checks in a variety of styles and designs.

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If you would like to learn more about Quickbooks in a classroom setting then why give Chris Le Roy's Quickbooks Courses ago. He offers Brisbane Quickbooks Courses and Townsville Quickbooks Courses every single month. Don't miss out because they are very popular.

Brisbane Quickbooks Training - 19/20 June 2013

Quickbooks is an awesome program but it is not one that is very intuitive and that is why it is so important that if you are a small business owner or working in a small business that you get the appropriate training.

I have a Quickbooks 2-Day Core Course coming up in Brisbane on the 19/20 June.  If you book into this course today you will be able to book for just $499 .

I have over 20 years in owning and operating a range of small businesses across Queensland which include Car Washes, Online Lingerie Businesses, Car Cleaning, electronic stores, bookkeeping businesses and more. .

During my two-day Quickbooks Course I am going to show you how to use this program effectively and how to achieve your business goals with this program and to avoid the catches. I will show you strategies that will help you save money with your accountant fees plus how to use the program effeciently.
I won't just show you how to setup the program, I will show you how to customise it and extract key business information that will help you make the right decisions in your business.

During the Quickbooks 2-Day Core Course you are going to receive:
1. 2-Days of Personalised Training & Instruction By Me
2. You will be part of a small group of trainees no more than 8
3. I will give you a Certificate of Attendance at the End of the Day
4. We provide Lunch
5. Plus you get 2 Weeks Post Quickbooks Course Support from me as well.

 To book into this course follow the link - Quickbooks Training Course - 19/20 June 2013

Essential QuickBooks Reports

 By Renee Daggett 

QB Report: Sales by Customer Summary

Do you know who your top 10 customers or clients are? QuickBooks can easily show you where your revenue is coming from. This is important to the owner of a business because the information can be used in several ways.

• By sharing this report with your employees, you can communicate who your top clients are and make sure your staff provides them exceptional VIP service.

• What about recognizing a top client by sending them a personal, handwritten note with something of value?
• Knowing the percentage of income that comes from any one client can be crucial. For example, if you lost that client, whatever the reason, would you be able to sustain your revenue? Double check what percentage your top customer consists of!

To create this report, click on Reports on the top menu bar. Then click Sales and then Sales by Customer Summary. Modify the report by clicking on % of column and then sort by total. I usually will hit the collapse button to condense the report to make it easier to read. This report will allow you to see the percentage each customer is bringing in as well as being able to easily identify the top 10 clients.
Create this report in your own file and get excited on how you will use the information to improve your business!

QB Report: Sales by Item Summary

Do you know your top 3 income streams? Digging further, do you know not only the percentage of income they provide to your business, but also the average sale price? QuickBooks can easily show you these statistics which may be instrumental in helping business owners make wise decisions.

When I did this for my own business, I could see not only the number of sales for each item, but the average sale of that item. This was enlightening because they were only "gut" numbers and nothing in black and white. I can use this report to see how my business may be turning by watching the numbers.

Something you may discover in your own QuickBooks file is that you do not have the break down that you really need in order to evaluate your revenue. If this is the case, create the income streams as items in your QuickBooks file for easy monitoring.

To create this report, click on Reports on the top menu bar. Then click Sales and then Sales by Item Summary. Enter the date range that you need. Take some time to review the number of sales, total sales, percentage of sales and the average price. Enlightening! Now choose one thing you can do to improve your business based upon this report!

QuickBooks Report: Watermark on Statements

We are in challenging economic times. Customers may be paying slower or you may even have some that cannot pay at all. What are some things you can do to make your invoices or statements stand out? QuickBooks allows you to create a watermark on your statements. You can have a gentle reminder that invoices are due upon receipt or you can put a note that says, "Past Due". No matter what you want your message to read, QuickBooks can help you communicate it!

My first suggestion is to have a procedure in collecting money. The steps you take will depend on your terms. You may have terms like due upon receipt or Net-30. Are your terms outlined in your contract with your client? How about your financial charges?

After a customer is past due on the invoice, what is your procedure? It may be to send statements monthly. Below is a sample of a statement you may want to send.

In order to create this watermark on your statement, follow the steps below:

1.Click on Customers at the top menu bar and then click Create Statements
2.On the right side near Template, click the Customize button
3.(In newer versions of QB, you may be asked to click Customize Data Layout)
4.Click, "make a copy"
5.At the bottom of the page, click the button Layout Designer
6.At the top, now click Add and then text box
7.Type in your customized message
8.You can also change the color (choose grey for the watermark look), font and size of the message
9.Take off the border so it does not show & then click okay
10.Move the text box where you want it to show in the statement & click okay
Create this statement in your QuickBooks file and monitor the results of collecting money! Any little effort may be helpful!!

QuickBooks Report: Trend Report

Business owners absolutely need to watch for trends in their company. How do you do so? You can do so by creating a Profit and Loss report by month.

• When you compare the monthly income, you can set income goals and confirm that you reach them.
• Watch for consistencies, like rent expenses, that are the same amount each month. If there is a month that is not consistent, do some digging to find out why.
• Look for inconsistencies. This is where the adventure can begin. Ask yourself where you can cut expenses. Investigate why numbers go up and why they go down. Make conclusions. Pull the report monthly to follow the pattern.

To create this report, click on Reports on the top menu bar. Then click Company and Financial and then Profit and Loss Standard. Modify the report so that the report will show monthly totals. Set the date range you desire to compare.

I challenge you to not only create this report, but take 10 minutes to dig deeper into your numbers so you can analyze the trends in your company!


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If you would like to learn more about Quickbooks in a classroom setting then why give Chris Le Roy's Quickbooks Courses ago. He offers Brisbane Quickbooks Courses and Townsville Quickbooks Courses every single month. Don't miss out because they are very popular.

Top 5 Things Your Need to Know Before Buying Your Accounting Package

When many people start their first small business they are excited and often overlook some key things that will make a difference between your business thriving or struggling. One of the most common areas overlooked is the accounting package that is used to manage the business finances. In this article I will look at five key things you should consider before buying an accounting package.

Top 1. What Business Are You In?

Sounds like a strange question and in away it is but it is actually important to know. For example if you were starting your business to operate on the internet with an eCommerce store, then choosing an accounting package like MYOB would not be as effective as its competitor program Quickbooks.

The reason MYOB would not be the best choice is that there are very few third-party programs that attach MYOB to an eCommerce site. Therefore if you were to use MYOB you would most likely have to manually extract sales from the eCommerce site and re-enter them into the accounting package.

Where as Quickbooks has a number of third party partners that have attachment programs that will connect the accounting program to the eCommerce site and easily share the invoicing and inventory.

Top 2. Ensure What You Choose Works with the Accountants Software

Accountants will generally have a preference to a certain type of accounting program so you need to ensure that you talk to the accountant to find out what they recommend. You should also ask them whether any of their other clients with a similar business to yours, actually uses the accounting program they recommend.

Top 3. Know What Type of Entity You Will Operate

In Australia, we have a number of different entity types, such as sole trader, partnership, company, trust and so forth. Each of these types of entities has their own advantage and disadvantages. You will find that if you are trading as a sole trader or partnership than an accounting program like MYOB is more effective, because it is a relatively straightforward and easy program to use. Where as Quickbooks is a more effective program for large small businesses because of the well developed reporting system.

Top 4. Will You Be Registered for Sales Tax or GST

There are often a number of different versions and types of accounting programs available from a supplier. For example MYOB and Quickbooks have simple versions like my MYOB Cashbook that have limited functionality for certain types of businesses. These types of versions are often great for the first few weeks of operation or for hobby businesses but most people find within a month that they need to upgrade to a full version.

Some of the simple versions don't allow you to be registered for GST and don't track tax effectively and as such you will find that very quickly you will have to buy a new version that does. In the end this will cost you money you didn't need to spend.

Top 5. Is the Accounting Package Right for Your Country

Many accounting packages like Quickbooks, MYOB, Sage have been developed in one country and then modified to suit another. This can have some inherent problems for you and your staff. For example, Quickbooks is written for the United States of America but has been modified for use in Australia. However what we find is that the terminology for the US version can be incompatible for Australia and can cause confusion.

Further to this, I have seen that some of the specific country versions may not calculate tax items like sales tax, GST or Payroll tax appropriately if used in another country. For example, I would never recommend buying Quickbooks from the USA and then trying to use it here in Australia.

The key with buying the right accounting package is to do two key things:

1. Talk to your accountant 2. Talk to other business owners in your line of work.

Doing these two things can save your many years of pain and suffering in your small business.

Chris Le Roy is the Managing Director of the One-on-One Professional Business Training Centre. Our company provides a MYOB courses and Quickbooks courses and can help you in selecting the right version for your business.