Slash the time you spend on books and bills

Transcription

1 Slash the time you spend on books and bills Mary Weaver Outsourced Accounting Manager QuickBooks Pro Advisor Certified Intacct Implementer For Cloudkeeping Virtual Accounting & Advisory practice, a division of Salmon Sims Thomas & Associates Kalil Merhib Strategic Account Manager for Cpa.com, the exclusive marketing arm and subsidiary of the American Institute of Certified Public Accountants (AICPA), Cloud-based accounting consultant

2 Webinar Ground Rules Webinar length: Approximately 55 minutes Questions CPE Credit hr. Answer the polling questions Return verification form To receive form Kari(keaton@sstcpa.com)

3 QuickBooks Tips and Tricks Today you will learn: Simple, fast, timesaving shortcuts How to locate transactions faster and customize reports How to automate AP workflow process How to access bills and invoices anytime, anywhere, on any device

4 QuickBooks Tips and Tricks QuickReport - Control

5 QuickBooks Tips and Tricks 12 commands to simplify QB 1. Ctrl + = create Invoice 2. Ctrl + = write check 3. Ctrl + = memorize transaction 4. Ctrl + = memorized transaction list 5. Ctrl + = chart of accounts 6. Ctrl + = save & new

6 QuickBooks Tips and Tricks 12 commands to simplify your task 7. Ctrl + = deletes current transaction 8. Ctrl + = deletes the current line in an invoice, bill, check 9. Ctrl + = inserts a new line in an invoice, bill, check 10.Ctrl + = copy 11.Ctrl + = paste 12.Ctrl + = new customer, vendor, account or list item

7 QuickBooks Tips and Tricks Keep working docs open Toggle switch Screens can stay open Different size monitors Zoom and out Ctrl plus (+) and minus (-)

8 QuickBooks Tips and Tricks Close the books Protect Your Entries Set the admin to override with a password QBO Gear Icon Company Settings Advanced Accounting Pencil (edit) Set a date QB Desktop Company Set Closing Date Set Date/Password Follow directions

9 QuickBooks Tips and Tricks Right Click Menus Save Time

10 QuickBooks Tips and Tricks Secret Weapon: QuickMath Calculator

11 QuickBooks Tips and Tricks Online

12 QuickBooks Tips and Tricks - Online Simple screen shot

13 QuickBooks Tips and Tricks - Online

14 QuickBooks Tips and Tricks - Online Gear Icon Change company settings Review recurring transactions Audit Log Manage Users

15 QuickBooks Tips and Tricks Complex research Audit Trail QuickBooks Desktop/Enterprise Reports/Accountant and Taxes/Audit Trail

16 QuickBooks Tips and Tricks Customizing Reports & QuickBooks Go to Reports > My Custom Reports Select your report or group from the list Click the Edit button Check the box Set the schedule for this group Click the Edit Schedule button and set the schedule Complete the Information fields Under Report Format check the box to attach the report as an Excel file if you prefer that over HTML.

17 QuickBooks Tips and Tricks Donor reports Outsourcing specialize in Non Profits Reports Industry Specific Non Profit Reports QB Desktop and QB Online do not handle noncash items the same for contributions

18 QuickBooks Tips and Tricks Customize the icon bar Remove, Add or Modify an Icon Go to the View Menu Click Customize Icon Bar Select the Icon you want to change Make your changes

19 QuickBooks Tips and Tricks Compare QB to other programs Audit Trail Online Help LinkedIn QuickBooks Cloud Multiple Windows Open

20 Bill.com Accountant Program Brought to you By: Kalil Merhib 11/20/2014

21 Bill.com s Cloud Connections

22

23 THEN vs NOW PAYABLES THEN NOW 1. Pick Up Mail 2. Open Mail 3. Process Bills 4. Post Bills 5. Send Report to Approver 6. Review with Approver 7. Coordinate with Vendor 8. Repeat 9. Generate Check Run 10. Stuff Checks 11. Mail Checks 12. Coordinate with Vendor 13. Reconcile Bank Account 14. Repeat 1. Bills automatically sent to Inbox 2. Coded, Routed for Approval 3. Approved 4. Paid (epayment) Including. Built-In Audit Trail Workflow Management Electronic Document Storage Accounting Software Synchronization

24 New Roles in Streamlined Payables Process save 50-75% of Time Spent! Submit bills Enter and code bill information Approve bills Schedule payments Sync with your accounting software

25

26 Your Home screen.

27 Payment.

28 Payment confirmation.

29 Are you at Risk?

30 5% Typical organization s loss of its annual revenue to fraud (Smaller organizations higher) Are You a Statistic? 49% Number of victim organizations that never recover any losses due to fraud Where s the Exposure? Lack of proper internal controls Loopholes in everyday business processes Payment fraud Lack of tools to detect fraud and security risks Check stock easily accessible Source: Association of Certified Fraud Examiners 2012 Report to the Nations

31 Eliminate Fraud and Errors Complete and automatic audit trail Pay everyone electronically Account information completely hidden. Prevent improperly mailed checks, reduce risk of information theft Are You a Statistic? Uses 256-bit encryption just like your bank. Your data is backed up in multiple locations and encrypted. Funds are FDIC-insured Bill.com syncs all vendor and bill information and eliminates double entry Routes bills electronically to your designated approvers No paper touches at any time prevent lost bills, invoices, and contracts

32 Prevent Fraud: A History of Everything

33 Complete View of Transactions

34 Take Aways Eliminate paper checks completely Collaborate with SST seamlessly from anywhere Reduce opportunities for Fraud Redirect time towards improving & growing your business or organization

35 What s Next? Follow up discussion with someone from SS&T Request a live demonstration of Bill.com Work with SST to fill out the Bill.com Startup Checklist Begin saving time on your bill pay process!

36 THANK YOU!