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QuickBooks Year-End Tip – Tracking 1099 & W-9 Information

QuickBooks Year-End Tip – Tracking 1099 & W-9 Information

1099"s, IRS Information, Payroll Tips, Reports, Vendors & Accounts Payable
Every vendor record in QuickBooks provides you with a place to indicate if a Vendor is eligible for a 1099 and a spot for you to enter the Vendors tax ID number and I highly recommend that you utilize this functionality along with the ability to attach a completed W-9 to the Vendor record. You can enter this information by going to the Vendor Center, selecting and editing a Vendor record.   Exactly where you enter this information will depend on what "year" version of QuickBooks you are using, I've included a couple of examples below to help point you in the right direction. [caption id="attachment_4362" align="aligncenter" width="300"] In QuickBooks 2012 - you'll enter 1099 information in the Additional Info tab.[/caption] [caption id="attachment_4363" align="aligncenter" width="300"] In QuickBooks 2014 you'll enter Vendor…
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Cleaning Up Your QuickBooks File at Year End

Cleaning Up Your QuickBooks File at Year End

QuickBooks Tips & Tricks
Are you in the habit of cleaning up your QuickBooks file at year end?  If not, it's a good habit to get into as few of us ever think about including our QuickBooks file when we think of year-end cleanup. If you’ve been using QuickBooks for any length of time (like I have) or inherited the company QuickBooks file from one or more previous bookkeepers, I’m betting that your QuickBooks Lists are just full of “things” that are no longer used. Let’s go take a look shall we? Let’s start with your Chart of Accounts: Can you still see that checking account listed there that you (or someone else) closed a year or two ago? Do you see an account used for the same thing but listed with several different…
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Weekly Wrap-Up 11/9 – 11/15/2013

Weekly Wrap-Up 11/9 – 11/15/2013

News You Can Use
Below is a list of the most popular posts and pages from the Sunburst Software Solutions, Inc. family of QuickBooks related websites according to AddThis tracking stats. From the QuickBooks for Contractors blog: Windows, QuickBooks & 3rd Party Apps - The Struggle Within How to Turn On and Use Manual Payroll in QuickBooks How Well Does the New QuickBooks 2012 Condense Feature Work? Using Account Numbers in Your QuickBooks Chart of Accounts QuickBooks 2011 - New Balance Sheet by Class Report - Part 1 From the main Sunburst Website: What is Certified Payroll?  How Do I fill out the report? Welcome to Sunburst Software Solutions, Inc. From the Learn to Use QuickBooks in your construction business website: Employee New Hire Information & Checklist QuickBooks for Contractors Bookkeeping Tips & Training
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How To Create a Payroll Deduction Authorization Form Using the QuickBooks Letters function

How To Create a Payroll Deduction Authorization Form Using the QuickBooks Letters function

Payroll Tips, QuickBooks Tips & Tricks
Payroll deduction authorization forms should be completed, signed and kept on file for each employee who has money taken out of his/her paycheck for anything other than permissible withholding taxes.  Yes, it's more paperwork and yet another task that an already busy payroll clerk needs to perform - BUT - QuickBooks can help you automate this task by using the tools that are built right into the program! On Tuesday, we posted an article about Recording & Tracking Employee Personal Tool Purchases made on company credit cards or lines of credit with company vendors. In that blog post, the person who asked the question indicated that sometimes the workers purchased tools on the company American Express card and would write TOC for “Take Out of Check” on the receipt -…
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Recording & Tracking Employee Personal Tool Purchases

Recording & Tracking Employee Personal Tool Purchases

Customers & Accounts Receivable, Payroll Tips, Vendors & Accounts Payable
This question came up on a discussion list that I belong to over the weekend and I thought "hey, what a great blog post and how to tip this would make"!  So here goes! I am bookkeeper for a construction company.  Sometimes the workers purchase tools on the company American Express card and write TOC for "Take Out of Check" on the receipt.  There are oftentimes material expenses for the company on the same receipt. How do I record this?  What they did before was to subtract the amount from the gross wages when called into ADP, so it's kind of a pay advance. But don't advances require the taxes to be taken out? Should I get check breakdown and subtract from net wages instead or treat as a loan?…
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New Product Announcement: QuickBooks IIF Inactive Cleanup Utility

New Product Announcement: QuickBooks IIF Inactive Cleanup Utility

QuickBooks Add-Ons, QuickBooks Corner, The "Sunburst" Website
We are very excited to announce the release of our newest software program - the QuickBooks IIF Inactive Cleanup Utility! Necessity is often the "Mother of Invention", it's why all of our software programs have been created.  We often find ourselves in a situation where we encounter a repetitive task that just screams for the need of automation. I'm fairly certain that the following story will hit home with many QuickBooks ProAdvisors and Consultants: A customer or ours recently hired me to help him start a brand new QuickBooks Enterprise file - his old one was so corrupt that even Intuit Data Repair couldn't fix it and it couldn't be opened/upgraded by the new version of QuickBooks Enterprise that he wanted to use in his company.  The file contained nearly…
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QuickBooks 2014 – Changes/Improvements to the Payroll Center

QuickBooks 2014 – Changes/Improvements to the Payroll Center

Payroll Tips, QuickBooks 2014 - What's New?
In QuickBooks 2014 the Payroll Center underwent a complete overhaul - which was badly needed in my opinion - and the outcome is both well-designed and useful, at least in my opinion. For years, we've lived with a cramped Payroll Center, that was so full of "stuff" that it was often difficult for users to figure out what the heck they were supposed to do in it or how in the heck they were supposed to even use it. [caption id="attachment_4297" align="aligncenter" width="300"] Right click to enlarge this image[/caption] In QuickBooks 2014, the Payroll Center has gone from cramped to organized and useful! [caption id="attachment_4298" align="aligncenter" width="300"] Right click to enlarge[/caption] It's new "tabbed" design splits out payroll tasks, such as Pay Employees, Pay Liabilities, and File Forms makes it…
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QuickBooks 2014 Announced-Biggest Improvement is COLOR!

QuickBooks 2014 Announced-Biggest Improvement is COLOR!

QuickBooks 2014 - What's New?
QuickBooks 2014 was announced yesterday by Intuit to the ProAdvisor Community, so if you are a Certified QuickBooks ProAdvisor you should have received an email yesterday (mine arrived at around 2 p.m. EST).  If you are an active Certified QuickBooks ProAdvisor, you'll be able to download QuickBooks 2014 beginning September 9th, on-line purchases are slated to begin around September 23rd, and you should see QuickBooks 2014 in retail stores starting right around mid-October. In QuickBooks 2014 the most noticeable improvement that you see as soon as you launch it is COLOR! When QuickBooks 2013 was released on of the most controversial topics of conversation when it came to the new version was COLOR - or rather the lack of it! Many people, myself included, really had a hard time working…
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How To Turn On and Use Manual Payroll in QuickBooks

How To Turn On and Use Manual Payroll in QuickBooks

Payroll Tips, QuickBooks Setup & Cleanup
We are a small company and are looking at various options for payroll; I've heard that there is a way to do payroll manually in QuickBooks, but I can't seem to find any information on how to turn on that feature, everything seems to indicate that we have to buy a payroll subscription and that just isn't in our budget right now.  Can you help?   Thanks in advance. --------------------------------------- How to turn on and use the manual payroll option in QuickBooks certainly feels like a highly guarded secret.  Intuit makes a lot of money selling payroll subscriptions and rightly so as keeping up with payroll tax laws and forms in each and every state is a lot of work! Even so, there are instances when a business chooses to have…
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A secret revenue hidden in most contracting businesses

A secret revenue hidden in most contracting businesses

From Our Guest Bloggers, Webinars & Training
Everyday in your contracting business a potential revenue generating secret remains underutilized. If you have a business that estimates between 3 and 5 projects per week, making a few small changes can generate between 5 and 10 thousand extra dollars per year. This secret can also pre-qualify tire kickers and increase the closing rate on the jobs you bid. Here's the secret: Begin charging for estimates! Not possible you say? Let's take a closer look: It takes 4 critical elements to make this happen. #1 Change your mind-set I am surprised when contractors object to this approach when, honestly, they have never asked! The strongest objections I hear are from people who have never tried. I promise you that contractors are already doing this successfully in most markets. I used…
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Experts And Those Who Would Like You To Think They Are

Experts And Those Who Would Like You To Think They Are

"Stuff" that drives me insane
There are self proclaimed experts everywhere when it comes to QuickBooks.  As business owners you should use caution and interview your candidates carefully. Just for giggles, I did a Google search using "quickbooks expert" it returned about 83,200 results; that's a lot of experts! The point to this blog post?  Well to be honest, part of it is a rant and the other part a warning. The Rant: At a recent nationally recognized QuickBooks conference there were two people who were asked/hired by the conference host to provide training sessions to other QuickBooks accounting professionals: one person gave three, one hours sessions on payroll.  This person had stolen (word for word) blog posts not only from my blog but from another bloggers site as well - and claimed them as…
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QuickBooks Payroll Record Keeping Tips-How To Stay Organized

QuickBooks Payroll Record Keeping Tips-How To Stay Organized

Be A Better Bookkeeper, Payroll Tips
QuickBooks does a great job at allowing you to track employee time to specific jobs, issue payroll and even produce your quarterly and year-end payroll tax forms and W-2's.  But the data that is stored in QuickBooks only provides pieces of the information that you need to keep on file to comply with the Fair Labor Standards Act. In Tuesday's article, Payroll Recordkeeping - More Than Just Getting Employee's Paid on Time, we mentioned that in order to be well prepared for a Wage & Hour audit that you need to keep your payroll records for the duration of EACH worker’s employment with your company PLUS 5 to 10 years!  Most Human Resources and legal experts are suggesting this to ensure these records are available in the event a claim…
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Payroll Recordkeeping – More Than Just Getting Employees Paid On Time

Payroll Recordkeeping – More Than Just Getting Employees Paid On Time

Be A Better Bookkeeper, Payroll Tips
There is more to payroll recordkeeping than just making sure that your employees are paid the right wage for the type of work they are performing and getting their paychecks out the door on time. Are your payroll records accurate and up-to-date?  They need to be - because inaccurate payroll records can cost employers BIG bucks! Most employers and bookkeepers have a tendency to think that accurate payroll record keeping involves little more than being able to pull up a Payroll Summary for a prior period in QuickBooks, if the State or Federal Department of Labor asks for it. Sure, a Payroll Summary in QuickBooks is a handy thing to be able to create with just a couple of mouse clicks – but there is so much more supporting documentation…
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QuickBooks Tip-How To Add a Logo and Customize Your Forms

QuickBooks Tip-How To Add a Logo and Customize Your Forms

Customers & Accounts Receivable, QuickBooks Setup & Cleanup, QuickBooks Tips & Tricks
A QuickBooks Tip on how to add your company logo and customize yoour Estimate, Invoice, and Purchase Order forms in QuickBooks. So you use QuickBooks for your all of you bookkeeping and accounting functions, including creating Estimates, Invoices, Purchase Orders, etc.  Good for you!  It sounds like you are using many of the built-in features and functions.  But do the "forms" you send your clients/customers, vendors/subcontractors scream QuickBooks when they are opened? Just because you use QuickBooks doesn't mean that you can't send out professional looking forms.  Spend some time working with your Form Templates and go from drab to WOW! Where do I find the Form Templates? You'll find the Form Templates from the QuickBooks List menu -> Templates.  Once there if you look in the Type column you'll…
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