What’s Your Preference? Part 1

Controlling Preference in QuickBooks will save you time.

Setting personal and company wide preferences allows you to customize your workflow to maximize efficiency.

QuickBooks really is an amazing product. In QuickBooks, you can set Preferences to accommodate your personal workflow. To locate Preferences, on the toolbar, choose Edit, then choose Preferences. Once you are in that window, there are a number of personal and companywide settings that you can choose to make your workflow more seamless.

One of my favorite preferences is choosing between the Enter and the Tab keys. My Partner-In-Crime at the office here, and I have different views on which button works best. That’s why QuickBooks is so great. I tend to use the Tab key to move between fields, then QuickBooks records a transactions when I hit Enter. However, my co-worker has some issues with her hand, so the tab key is a little difficult for her to continuously use. Therefore, she likes to press Enter to move between fields, then she’ll use her mouse to click and save a transaction.

QuickBooks automatically lets you tab without having to set it as a preference, but if you want to press enter, you’ll need to tell QuickBooks. To do this, in your Preferences, under General, on the My Preferences tab, you will need to put a checkmark in the box that says ‘Pressing Enter moves between fields’.

This is just a glimpse into Preferences in QuickBooks. Keep checking back for more tips & tricks!



Let’s Meet in the Cloud

Technology in the area of accounting has made tremendous advancements for the benefit of both the client and the accountant. This has been and can be a great advantage to any consumer, even those who would not consider themselves tech savvy. Within the world of smartphones and tablets (and I guess now watches!), you have access to needed financial information at your fingertips for various purposes.

Learn the benefits of private cloud computing

How can a private cloud give you better control of your personal and business finances?

By now I believe we’ve all heard of this “miraculous” thing known as the Cloud. What I don’t believe many are aware of is Private Cloud Computing and its benefits. The Cloud is classified into three categories: public, private, and hybrid. For the purpose of this article, we’re only going to focus on private. Private cloud, also known as internal cloud, involves a distinct and secure cloud based environment that is only accessible by a single organization. The organization grants clients secure and private access for their specific need or purpose.

Potts & Company has begun working with clients that have found using a hosted QuickBooks option, where their QuickBooks software and data files are located on a cloud server rather than their desktop, to be a great benefit. We also encourage those clients who have not yet decided to take advantage of the cloud to consider the benefit and time saving opportunity.

The Internet allows the accountant or the client to download important documents, bank statements, make payments, update information and analyze data using either web-based software or accessing online websites in real time. This helps to drastically decrease the amount of time it takes the accountant to complete projects by not having to wait for important financial documents from the client, or vice versa. Both the accountant and the client can work remotely from any location by having the ability to access necessary information and workflow solutions.

While you’re attempting to juggle all of the “must do” items on your checklist for the day, be smart and include your accountant. An individual or a small to mid-size business owner now has the ability to gain in-depth, real-time financial provision from their accountant which can lead to improvements in their cash flow.


Sorry, I’m on a Budget

As we start to approach the New Year, I thought we might consider using budgets. Most business owners hear the word budget and immediately think it’s too much work! Well QuickBooks makes the work extremely easy with their great budget feature.

Per Wikipedia, “A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organizations, activities or events in measurable terms.”

A budget is a plan for the year. I think by creating a budget business owners are forced to really examine where their money is going, and try to create a way to increase their profit. They can use the prior year’s numbers as a guide, then increase/decrease the numbers for the following year.

To find budgets in QuickBooks go to your toolbar, choose Company, select Planning & Budgeting, then Set up Budgets. You can choose to create a budget from the Profit & Loss accounts and/or the Balance sheet accounts. Just follow the prompts in QuickBooks to get the process started.

By setting up a budget in QuickBooks, you are able to process reports that show how close you are to your budget. This is a great tool and can help keep business owners on track with their spending. If business owners are taking a close look at where the money is going, then they can see where they might be able to save some money and become more profitable.