The Importance of Updating QuickBooks Versions

Let’s start with defining the three QuickBooks Categories: Product, Version, and Release.  QuickBooks has many different desktop products: QuickBooks Pro, Premier, Enterprise, and Accountant.  Each product has it’s own version: 2011, 2012, 2013, and now 2014.  QuickBooks updates it’s software quite frequently.  This is referred to as “a new release”.

It is very important to update your QuickBooks file to the Newest Release.  QuickBooks creates these releases to improve it’s products.  It is similar to updating your iPhone software of apps.  Most people I know update their iPhone on a regular basis but do not update their QuickBooks software.  Remember…tech companies create updates to improve their products.  It’s up to you if you want to utilize those improvements.

Importance of Update QuickBooks Versions:

I was recently contacted by a local business who was having serious QuickBooks issues.  After meeting with the client and trouble shooting the issue, I was sure that the file was corrupted in some way or another.  The problem was, after verify and rebuilding the data, nothing was coming up with an error.  The file acted like it was corrupted but wasn’t showing that it was corrupted.  I finally checked the release it was on and saw that it was R5.  I searched online for the latest release with QuickBooks Pro 2011 and found it was R13!  This guy hadn’t updated his file in years!  Sure enough, after updating his data file to the newest release the problems vanished.  So remember, if you open your QuickBooks file and a window pops up informing you that there is a new release/update- download that update.

To check what release you are on, open your QuickBooks file and hit F2.  This will bring up the “Product Information” window.  At the top of this window you will see your product, version, and release.   For example, for my business, I am currently using: QuickBooks Enterprise 2013 release 9.

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So remember, update your QuickBooks regularly and upgrade your software to a newer version at least once every three years.

If are working with the Quickbooks and still are using the older version then its maybe harm your financial data or maybe you miss out some Quickbooks features. So, if you want to work with the latest Quickbooks accounting software then MAC is best for you, who offer help you in updating your Quickbooks latest version as well as you can continue with QuickBooks Bookkeeping Services.

The Ultimate Guide to Real Estate Accounting

As a property manager, you probably know that there are a lot of moving parts to real estate accounting. Especially in this industry, bookkeeping tasks can be very tedious because of the large number of state regulations and myriad of transactions.That's why organization is the key to managing real estate Accounting books.

So what do you need to get started? Well, you need a standard process to collect financial information. You need to choose an accounting method. You need to create a consistent filing and tracking system. You need to know how to pay your employees and your contractors. And, periodically, you need to be able to use the financial information you collect to analyze your processes and measure how profitable your properties are.

Who uses Real Estate accounting?

You should be familiar with real estate accounting if you:

• Run a real estate agency
• Manage real estate for clients
• Handle the accounts of a housing association
• Run a building construction firm
• Manage an investment trust
• Provide residential sales

The Ultimate Guide to Real Estate Accounting:

Real estate bookkeeping can be difficult and time consuming. You must follow many state-mandated rules and handle large transactions.

By learning how to complete some real estate accounting tasks, you can reduce the number of hours an accountant spends on your books. Take a look at the following tips about real estate accounting.

Find out your administrative code rules

First and foremost, property managers must follow guidelines for financial management. These guidelines are created by the local real estate commission or state agency.

Your real estate guidelines should shape your accounting practices. Make sure that your real estate accounting books follow the rules administered by your state. You might want to ask a financial professional who specializes in real estate to help you get started with this.

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Real estate accounting comes with a lot of different regulations so it’s a good idea to consult an accountant periodically to help you manage your finances.

Talk to a financial professional who specializes in real estate accounting. Along with following the rules, a real estate accounting firm can help you choose a business structure, avoid unnecessary spending, and create reports.

Benefits of Outsourcing Accounting Services for Large Companies

If we look at the competition that most industries are facing, it is no doubt that the firm would like to invest almost all of its resources to focus on its core areas of interest. Even if we look at the in-house accounting services department, most employees are overworked and overloaded with their jobs and cannot meet the requirement of this uber-competitive business world that we see today. Many large-scale corporations or organizations, as well as MNCs, decide to outsource their non-core services like Outsourcing Accounting services and Quickbooks Accounting Services. While any Outsourcing Accounting services provider would offer you the essential functions, i.e., managing your books of accounts, financial services, and ensuring cost reductions, now the companies are looking for more. As the stakes are higher, it is only fair that they would want more from their service providers. At my accounting consultants, we know and understand this requirement and work with the clients and advise on the best processes and technologies that would enhance their business.

When you outsource your Online Accounting Services, you end up saving your valuable time and resources. It is a challenge to manage all the books of accounts in the house. Outsourcing them could reduce the pressure on your funds and employees, and you can manage all accounting needs at a single place. It is evident that the back-end running of daily function is mundane, but it also creates a conflict of interest with the more urgent tasks at hand.

If you choose to outsource your accounting services, you get the relief that your data is being handled by the experts who have the expertise in the business and would assist you in reaching the goals you have set for your business.

So, when you work with a reliable accountability partner, like my account consultant, you can get the best results at an affordable cost. We offer a gamut of services like preparation of taxes, payroll, accounting, bookkeeping, and much more to meet all your accounting requirements.

Advantage of Outsourcing Accounting firm for Business

Whichever line of business you are in, there are tasks which you have to concern yourself with everyday, without having to add to the stress of struggling with bookkeeping, tax prep, and tax planning. For this reason, hiring an accounting firm to do the work for you is something to consider. Not only will the accounting service firm have the expertise in these areas, but they are also going to ensure the accuracy of your books and that they are up to date.

 

Having an accounting firm professional team work on your company’s books will ensure that all finances are handled correctly year round, and that during tax season it will not be a scramble to get things done on time. Additionally, the accounting services firm doing the finances for your company will relieve stress from the day to day operations of your business, and will take the weight off your shoulders.

Benefits of having Outsourcing Accounting Firm:

Considering the services of an accounting firm is not only valuable to your company during tax season, but should be something that you consider hiring year round. The accounting service will be able to show your business how and where you can save money during tax season, it will handle multiple returns and filing which must be completed, and they can also do the day to day financial for your company, rather than hiring an individual to do it within your office.

The accountants working for you will set up programs in your company’s office, so that you, as well as your employees, can quickly and easily enter data for the financial. Therefore, whenever your accounting firm comes in to check these records, and maintain the books for your company, they will quickly and easily be able to balance the books, and provide financial statements to your company. 

Whether they are quarterly statements, or if you want them more often, the accounting service will have the data it needs to properly get these financial statements done for you and your business quickly and accurately. The accountants will also file state, federal, and local taxes for your business when needed, and can produce documentation for federal or local taxing officials quickly, in the event your company is ever audited. 

Tips to select the Accounting firm for Business:

Although having a CPA is doing the services for your business is something that you should consider, you must take the time to seek out the services of the best and most reliable accounting service firms to do the job. Making sure that the firm employs the most knowledgeable accountants, has the best team on hand, has the best technology and best forms (financial statements, assets and liabilities charts, etc).

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How Accounting Software Migration Benefits your Business?

The technology is surrounding us, and to survive, the most obvious thing to do for any business is to move to online accounting services with Accounting Software Migration. One of the most helpful things that you achieve from this accounting software migration is that it allows you, the business owner, to access your financial accounts from any place, any device, and anytime as long as you have access to via the internet. Such an easy and convenient access would reap a range of benefits to the business owner, which is why accounting data conversion helps you save time while storing real-time data to keep you updated at all times. Any time you want to take an important business decision or file tax returns, Payroll count, Quickbooks Accounting Services, this would come in handy.

How Accounting Software Migration Services Help You?

Once the firm decides for accounting software migrating their accounts, the next decision that is needed to be made is which is the software package that would be ideal for them. There are so many firms, like My Accounts Consultant, who offers a wide range of accounting services, you could conduct in-depth research and take your decision with the help of an expert accountant or advice of CPA.

When searching for the different Accounting software, make sure you choose the one that as a very user-friendly interface so that you can navigate all its features quite easily. The journal module of the software should also be such that you can access it easily. Along with this, there are other things that you need to take care like if you are managing a multi-currency or multi-country account, you need to ensure that the system that you choose allows multi-currency inputs with the single account login. Or if your firm has to follow complicated VAT rules, the system should enable reverse charge calculations.

We can help you with following Accounting Software Migration Services:

• Xero to QuickBooks Conversion
• MYOB to QuickBooks Conversion
• NetSuite to QuickBooks Conversion
• Reckon to QuickBooks Conversion
• Freshbooks to Quickbooks Conversion
• Wave to Quickbooks conversion

Various firms offer different reporting systems, and My Accounts Consultant offers reports as per the discussion with the client by keeping their needs in mind. Even if the firm is willing to provide the services, some software might not be allowed project-based or retrospective report analysis, ensuring you properly research both the software and the firm.

If the firm requires a month-end report or custom report, ensure that your Accounting Service provider is willing to provide it. It is essential to get financial statements on time to get the full benefit of Accounting Software Migration. A proper movement would reap great rewards!