Beginning with QuickBooks 2009 Financial Statement Designer (free) has been replaced with the Intuit Statement Writer (fee based) – if you would still like to use the Financial Statement Designer you may do so.
For more information, read the following QuickBooks Knowledgebase article http://support.quickbooks.intuit.com/support/Pages/KnowledgeBaseArticle/1010947
{From Yahoo News 3/7/09}
VISTA, Calif. – A former bookkeeper embezzled $9.9 million, forcing her company to make layoffs as she bought 400 pairs of shoes that she kept in a room-sized closet decorated with a crystal chandelier and a plasma television, authorities claim.
Annette Yeomans, 51, surrendered at the Vista jail on Friday and was booked for investigation of grand theft and embezzlement. She was being held Saturday at the San Diego County jail in lieu of $10 million bail.
It was not immediately clear whether she had an attorney.
Authorities allege that Yeomans embezzled the money from 2001 to 2007 while she was chief financial officer for Quality Woodworks, Inc., a cabinetry business in San Marcos.
She spent at least $240,000 on 400 pairs of shoes, $300,000 on designer clothing and 160 purses valued at $2,000 each, investigators allege. She also remodeled a bedroom into a closet with the chandelier and a 32-inch TV, they said.
“On a weekly basis Yeomans would spend $25,000 on her credit card and then pay off the balance the following Monday with company funds,” said Sgt. Mark Varnau of the sheriff’s Financial Crimes Unit.
The losses went unnoticed and the company never hired an outside auditor to check the books because she had a trusted position, Varnau said. Meanwhile, he said, the company was forced to lay off workers and restructure operations because of the losses.
An investigation began after American Express notified the company in February 2008 that one of its checks had been used to make a payment on Yeomans’ account, Varnau said.
Yeomans was fired last year and agreed to turn over her assets to the company, which has recovered about $2 million from the sale of her home, some cars and other property, Varnau said.
Her husband was a cabinet installer at Quality Woodworks but was not suspected of any crime, Varnau said.
As a busy business owner it is quite easy to fall into the habit of simply turning over your business’s accounting to someone else; because your time is best spent in the field and not in the office doing paperwork. Not only is this a bad habit, it can also become a dangerous situation.
While it is fair to say, most people don’t steal, embezzlement does happen; we hear about it or read stories like the one above in the newspapers all of the time. This article contains some simple ideas that you can implement in order to reduce your chances of becoming a potential victim.
5 pages, PDF Format. From the October 2008 QuickBooks for Contractors Newsletter.
The new stimulus legislation means changes to payroll no later than April 1, 2009.
{This information is from Intuit’s website and posted here for your information. Visit Intuit’s payroll website for additional information.}
What does the stimulus plan mean to your business?
New payroll tax credits and COBRA provisions will mean changes to how you handle payroll taxes and quarterly tax filings. The IRS asks that employers calculate federal withholding and advance earned income credit payments with new tables just issued as soon as possible, but no later than April 1st, 2009.
Why not let Intuit Payroll handle the burden of tracking these changes so you can focus on running your business?
Over one million small businesses trust us to do just that already, more than any other payroll service.
With Intuit Payroll:
- Keep up with changes. Intuit Payroll’s team of compliance professionals works with tax authorities to get ahead of changing requirements and deliver the latest tax rates, tax forms (for services that include forms) and compliance information to our customers
- Be confident your payroll is in compliance. In 2008 alone, Intuit Payroll delivered over 490 compliance rule updates to customers. We worry about keeping up with changing payroll requirements, so you don’t have to!
- Get every penny of the payroll tax credit you deserve. The stimulus legislation provides up to $400 of payroll tax credits per eligible individual or $800 per couple. For as little as $100 per year for Basic Payroll service, Intuit can help you make sure that eligible employees get the tax credit dollars they’re entitled to.
A payroll update is scheduled for mid-March and will include important changes resulting from the new legislation. For more information, visit Intuit’s American Recovery and Reinvestment Act of 2009 webpage.
