Alternatives to QB Online

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Let’s face it, it’s a fast-paced world and you have to explore alternatives to keep up.  In this environment, you can’t afford to be left behind because you are chained to your desk by desktop software applications…Intuit, the makers of Quickbooks, answered the call (sort of) with the web-based version of it’s popular accounting software – Quickbooks Online.

Having web-based products are good for the mobile roadwarrior but bad when you don’t get all the features that you need…

If the online version of Quickbooks doesn’t provide you with all the features that you need, here are a few alternatives that may work for you.

In addition to those alternatives, you may want to look into Quickbooks Hosting – where the desktop version is hosted as a virtual desktop (cloud computing).  Recently, Intuit has endorsed a few providers who, in addition to providing you with hosting, can also “rent” licenses.  To my knowledge, there are five service providers on the “approved” list*… they are:

Disclaimer – this is not meant to be an all inclusive list nor is it meant to be a review or endorsement or any product or service over another.  Do your research – find out what works best for you.  Good luck!  ~Joyce


*List and additional information can be found here.
**Image: Stefano Valle / FreeDigitalPhotos.net

 

Q&A: Need Help With Client Engagement

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Q: I have a client who has asked me to help him prepare financial statements. In looking at his books, they are completely a shambles. He has 7 (!) checking accounts, and not one of them can I reconcile in Quickbooks because it appears deposits were randomly recorded, or not recorded, checks were recorded with incorrect check numbers or not recorded, transfers were not recorded, etc. Soooo….. my thought, since they’ve been in QB for only 7 months, I might start from scratch and just record everything fresh. My question is, is there any way I can do this while they’re still working in QB? This job will take me a few weeks to complete, and I don’t want to tie their hands while I’m working on straightening out their financials.

A: Before I respond, I have a question for you: will this be an ongoing client where you will review their file and prepare financial statements on a monthly or quarterly basis going forward? The answer to this seemingly benign question will dictate part of how you move forward and the type of engagement you have.

In my opinion a few things need to happen.

First: train whomever is doing their data entry so that it is done correctly going forward. If they are not trained adequately, you will find yourself in the same boat in a few months. The only difference is you will have the added pressure of getting it done quickly because the client will need the year-end statements done for tax time.

Second: decide if anything in their file is salvageable. Was anything set up correctly (vendors, clients, COA)? Can you make heads or tails of any of the transactions? If not, you may need to throw in the towel and start afresh.

Third: the client can work in the file while you review historic information. If you are setting up the new file, set it up, create an accountant’s copy for yourself and send them a copy, make sure the dividing date is one where they can still work and input transactions. Keep in mind there are a few limitations for you (mostly payroll related). I’m not sure if that will create a real problem for you or not since you didnt’ mention if he had payroll transactions for you to reconcile.

Fourth: is there any reason they have SEVEN bank accounts??? If they don’t have a ready explanation, you may want to advise them to cut back on that. Even if they are all free business checking accounts, it’s costing them time & money in the long run. Trying to keep them all straight is obviously creating a problem for their staff person handling the input of deposits and processing checks and may be the source of a lot of the reconciliation/messiness of the client file.

Hope this helps,

Joyce

Post asked & answered on Quickbooks Forum

 

 

Q&A: Importing Transactions From Online Merchant Account

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Q: We have a software division that charges people monthly on subscription plans. It’s all done automatically. What’s the FASTEST way for me to manage this? I don’t really want to manually enter thousands of monthly charges into QuickBooks every month, but at the end of the year, my accountant will want detailed records. any suggestions?

We’re using authorize.net and cybersource. I can look into importing them. I can import them from the bank, but that seems to a big pain too, as QuickBooks asks me to do each one individually pretty much.

A: Look into what your choices are available regarding the various formats that you can download the information from authorize.net & cybersource. A lot of companies offer a way to export your transactions in a way that’s ready to import them directly into your QB file. It may take some effort on your part to set it up correctly on the front end but will be well worth it not to post transactions one at a time.

I use another payroll provider that allows me to do exactly what I’ve described to import the information with no problem.

If you have additional questions regarding setup, I really think you should seek the advice of your accountant. If they aren’t available or versed in this kind of set up, shoot me an email. (remind me of our forum discussion)… I’d be happy to help.

Good luck! ~Joyce

originally asked & answered on QuickBooks Forum