Forecasting for your business

Learning how to forecast for 2012

A forecast is to calculate or estimate something in advance. So what quickbooks does is gathers all the data you’ve input so far and develops an idea of what will probably happen in the future, so you know what to plan for.

In quickbooks go under the menu for reports and then choose the budgets & forcasts option. Play around with the different options to get the results you are looking for. But, most of our clients like to use the quarterly forecast so you know what’s coming soon and can plan for it.

contact woodardaccounting.com for more information or our partner insourcebooks.com

Task listing for quickbooks

if you don’t want to perform these bookkeeping tasks yourself you can hire Woodard Accounting and Business Consultants to do it for you at a very reasonable price!

Weekly Tasks

• Back up your company file.
• If you have employees, use QuickBooks Payroll to write your weekly paychecks.
• Pay bills due the following week. (You can set up iCal reminders when you use Enter Bills to help you with this.)
• Print any sales forms or checks that you haven’t printed yet. (Choose File > Print Forms.)
• Create a cash flow forecast report to review your anticipated cash flow for the next few weeks. (Choose Reports > Company & Financial > Cash Flow Forecast)

Monthly Tasks

• Pay any sales tax you have due. (Choose Vendors > Pay Sales Tax.)
• Use QuickBooks Payroll to pay payroll taxes due (or however frequently you are required to pay them).
• If you use online banking, download your transactions from your financial institution and reconcile your checking and credit card accounts. If you don’t don’t use online banking, you can do this manually from your paper statements.
• Print any monthly billing statements to send to your customers.
• Print a report of customers who are past due balances so you can contact.

Quarterly Tasks

• Pay quarterly sales tax due quarterly.
• Use QuickBooks Payroll to file Form 941, Employer’s Quarterly Tax Return, and state withholding tax forms.
• Create a Profit and Loss Statement and a balance sheet, to review how your business is doing.

if you don’t want to perform these bookkeeping tasks yourself you can hire Woodard Accounting and Business Consultants to do it for you at a very reasonable price!

Sales Tax is due on Dec 20, are you ready?

Contact Woodard Accounting and Business Consultants for help filing your sales tax returns with new york state.

Tracking sales tax on purchases 

1. Create an Other Current Liability account
2. When creating a transaction (like a bill) in which you will be tracking sales tax, enter the bill as usual, but then go to the Expenses tab and select the liability account you just created
3. On this line, enter the amount of sales tax in the Amount column (this will need to be calculated manually)
4. Ensure that any detail in this transaction adds up to the correct total after clicking Recalculate
5. When it is time to pay this sales tax, you can see the liability that has been accrued by looking at the Chart of Accounts
6. This amount can be paid with a regular check, selecting the liability account used for tracking this tax under theExpenses tab

If this solution does not resolve the issue, you can Call Woodard Accounting to help you set this feature up in your Quickbooks company file.

Contact Woodard Accounting and Business Consultants for help filing your sales tax returns with new york state.

Do you need a business consultant?

Contact woodardaccounting.com if you have questions about purchasing Quickbooks.

 

Are your files organized?

If you know that you are not the organized type, and things are slipping through the cracks because of this disorganization, you need a business consultant to get you back on track. A good accountant or bookkeeper can help you get your systems in place so you can maintain them on your own, or for a small fee you can bring a bookkeeper in to do your filing for you. Having your finances organized in your business is important for your business to run smoothly.

Do you know how much cash you have?

Cash is the life blood of your business. If you don’t know how much you have you don’t know how much you can spend. If you run out of it your business stops dead in it’s tracks. Having a qualified degreed accountant in Rochester NY create a Quickbooks file for you and maintain it on a regular basis you’ll always know with the click of a button how well your business is doing at any given moment.

Are your sales reports easily reached?

Without access to how much sales you’ve had how do you know how much more you need? With a qualified bookkeeper in Rochester NY or where ever you live taking care of your quickbooks file for you on a weekly or monthly basis you can always know how your business is performing.

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Quickbooks for Mac 2012, what’s new?

Contact woodardaccounting.com if you have questions abotu purchasing Quickbooks.

 

New User Interface for Quickbooks 2012 for Mac: 

Features a stylized and highly detailed Mac look and feel that is compatible with the Lion operating system.

Customer and Vendor Info Panels, Transaction List and Improved Search for Quickbooks 2012 for Mac: 

Provides immediate access to customer and vendor details, and to past transactions. A new search tool makes it fast and intuitive to pinpoint the data a user needs for better bookkeeping.

Batch Online Banking Transaction Entry and Progress Invoicing for Quickbooks 2012 for Mac: 

Simplifies the process of importing and renaming transactions from a user’s online bank to QuickBooks for Mac; reduces the steps needed to create multiple invoices from one estimate for easier accounting.

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Buy Quickbooks 2012 for some great new features!

Buy Quickbooks at our intuit showcase

New features in the QuickBooks 2012 Pro, Premier and Mac editions help entrepreneurs save time managing their finances so they can focus on running their businesses.

Calendar View, Excel Integration Refresh and Contributed Reports: 

Provide new insights through a calendar view of important business tasks, such as invoicing and bill paying deadlines, improved Excel integration that retains formatting changes to reports exported from QuickBooks to Excel with each data refresh and a library of more than 1,000 (and growing) user-contributed reports.

Lead Center, Document Center and Inventory Center: 

Organize important information and make it easily and quickly accessible in three new central repositories.

Batch Timesheets, Batch Invoicing for Time and Expenses and One-click Transactions: 

Reduce repetitive tasks to just a few clicks, saving time and minimizing errors.

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Our Favorite Tips and Tricks for Quickbooks 2012

QuickBooks Integrates with Microsoft Word.

Using the Layout Designer only goes so far for customizing QuickBooks forms. Using QuickBooks data fields and Word functionality gives me the ultimate combo for high-impact branded communications.

Advanced features of exporting reports to Excel

The Auto-outline always gets a “Wow.” The Sort feature does not get quite the same reaction, but definitely provides a useful feature when exporting lists of sales, or inventory reports.

Did you know that the QuickBooks interface is simple, and remains almost unchanged?

You can learn from the videos and use it yourself, reduce the costs of “highly qualified” staff since a BS in Accounting isn’t needed to be effective, and see the same interface as you migrate from the entry-level sub-$100 software all the way to the Enterprise level multi-thousand dollar software.

The memorized feature

I tell trainees/clients to think through something once, then memorize it. I set up a new
section of the memorized reports list named “Becky’s Special Reports” to put the reports that Becky wants to see.

The pop-up calculator

The calculator that pops up when you are on an amount cell by hitting a calculator
function key (-+/*) then clicking enter puts the result in that field.

If you need a web site designed a blog or content call web chef.