Road Ahead Month-End Procedures Planning & Budgeting Tips - PDF document

10/23/2018  Road Ahead  Month-End Procedures  Planning & Budgeting  Tips & Tricks 1

10/23/2018  Focus on Basics  Hosting  Add-ons  New Features  Retired Versions  2019 Release Features  Bank Reconciliation  Voiding Checks  Receivables Aging “Cleanup”  Payables Aging “Cleanup”  Journal Entries  Balance Sheet Validation  Reports  Closing Date 2

10/23/2018  Bank Reconciliation ◦ General ◦ Tips ◦ Reports 3

10/23/2018  Voiding Checks ◦ Old checks  Current period  After period close ◦ Current check 4

10/23/2018  Receivables Aging “Cleanup” ◦ Journal entry  With/without customer  Dates  Matching ◦ Credit memo  Dates  Matching ◦ Customer prepayments 5

10/23/2018  Payables Aging “Cleanup” ◦ Journal entry  With/without vendor  Dates  Matching 6

10/23/2018  Journal Entries ◦ Basic ◦ Reversing ◦ Recurring 7

10/23/2018  Validate Balance Sheet Balances ◦ Assets ◦ Liabilities ◦ Net assets/equity 8

10/23/2018  Generating and Customizing Reports ◦ Filters ◦ Memorize ◦ Summarize report ◦ Process multiple reports ◦ Export and/or email reports 9

10/23/2018  Setting the Closing Date ◦ How ◦ Why ◦ When  Audit Trail 10

10/23/2018  General  Editing  Reports  Forecasting  Company Snapshot  General ◦ Accounts utilized  Profit and loss  Balance sheet  Class tracking 11

10/23/2018  General ◦ Create in company menu  Planning & budgeting  Set up budgets  Choose the fiscal year and accounts  Create from scratch or using prior year actual data 12

10/23/2018  Editing a Budget ◦ Printing first ◦ Amounts  Reports Utilized ◦ Standard ◦ Customized reports 13

10/23/2018  Forecasting ◦ General  Predictions and “what ifs”  Base off of prior year amounts or create from scratch  Class ◦ Reports 14

10/23/2018  Company Snapshot ◦ Company ◦ Payments ◦ Customer ◦ Customizing features 15

10/23/2018  Benefits ◦ Reduction of manual data entry ◦ Simple Set-up ◦ Makes bank reconciliations easier and faster  Preferences  Account Numbers  User Setup and Restrictions  Find  Memorized Transactions  Class Tracking  Job Costing  Backups  Clean-up Utilities 16

10/23/2018 ◦ Preferences  Accounting  Reports and graphs ◦ Account Numbers 17

10/23/2018  User Setup and Restrictions ◦ Add a user ◦ Restrict a user ◦ Edit a user ◦ Recommendations 18

10/23/2018  Find Feature ◦ General ◦ Examples 19

10/23/2018  Memorized Transactions ◦ Examples ◦ Edit ◦ Group 20

10/23/2018  Class Tracking ◦ Uses ◦ Setup ◦ Reports 21

10/23/2018  Job Costing ◦ Uses ◦ Setup ◦ Reports 22

10/23/2018  Backups ◦ Regular -- qbb ◦ Accountant’s copy – qbx, qba, qby ◦ Portable – qbm 23

10/23/2018  Clean Up Utilities ◦ Archive ◦ Rebuild ◦ Condense ◦ Create new company 24

10/23/2018 Further Questions? Please Contact Us! Christina M Binagi Mary Ellen Michaelson Vrakas CPAs + Advisors Vrakas CPAs + Advisors 445 S. Moorland Road, Suite 400 445 S. Moorland Road, Suite 400 Brookfield, WI 53005 Brookfield, WI 53005 (262) 798-7652 (262) 798-7636 cbinagi@vrakascpas.com mmichaelson@vrakascpas.com www.vrakascpas.com www.vrakascpas.com 25