Participant’s Wish List & Preferences

Accounting Problems & Solutions

• Preventing Postings to Prior Periods - Role of the Administrator, Security levels, Closing date, frequency, passwords protection, Unique privileges, Premier A&B Edition
• How to prevent the Audit Trail from being turned off
• Dealing with shareholders - Recording expenditures paid by shareholders, Tracking credit cards carried by employees, Bonuses and Management fees, GST, payroll and T4 issues
• Tracking cash register sales - Separating Cheque, VISA, M/C and AMEX deposits on the cheque register, Tracking cash over/short
• Tracking petty cash
• (Bank) reconciliations tips and traps - Printing bank reconciliations of prior periods, Undoing prior period reconciliations, Reconciling credit cards, asset and liability accounts, Quick Reports
• Receive Payments & Make Deposits - Make Deposits limitations, Undeposited Funds, Removing stale items, Depositing and reconciling credit card sales, Cleaning up unmatched items in AR and AP
• Multicurrency Accounting - Realized vs. unrealized gains/losses, Period-end ‘Home Currency’ Adjustments
• GST/PST processing - Filed vs. unfiled transactions, GST liability reports, Processing the GST/PST return, How to clean up the current mess and nail it every time, Closing date implications
• Selling items with zero quantities on hand - Restocking negative inventory quantities, Accounting implications
• Tricky Transactions - NSF cheques, Retainers and Customer Deposits, Holdbacks, Trust Accounting, Gift certificates, Returns and credits, Tracking credit card refund, Bad debts, Contra items
• Traps – Multiple open files, Delete vs. Void,  Sales by Customer vs. sales by item, Multiple postings to AR and AP not permitted
• Conversions - Loading opening balances, Converting proprietorships to corporations
• Portfolio Accounting - Quicken vs. QuickBooks vs. ProFile Portfolio Acctg

Power Tools

• Premier Custom Editions - Unique features, Remote access using Premier A&B Edition
• Donation receipts
• Time and date settings
• Customizing the customer and vendor lists
• Loan Manager
• QB Timer
• Contact Management, Client Manager
• Cashflow Manager, Expert Analysis Tool
• Imports, Exports and Conversions
• Direct deposit options
• Solutions marketplace
• Intuit Developer network

Year-end, Financial Reporting and
Audit Engagement Tools

• Shoebox accounting - demo
• Year-end guide
• Accountant's Copy - Uses and limitations
• File Types
• Exporting data to CaseWare® and QuickTax®
• File Preparation Tips and Tools – Bank reconciliations, AR trial balance by currency, Subsequent Payments, AR ageing, Inventory Valuation & adjustments, Depreciation, Analyzing Revenues, Cost of Sales, Margins, Cut-off, Sampling and Sorting using filters, Economic Dependence, T4, T4A, T5018
• Engagement Checklist (Notice to Reader)
• Posting and Printing YE adjustments
• Importing YE adjustments from CaseWare®
• Adjusted Trial Balance (Premier A&B Edition only)
• Exporting Accountant’s Changes to a client
• Importing Accountant’s Changes on client copy
• Boardroom quality financial statements – demo
• Export to Excel
• Custom Reports
• Financial statement designer
• "Accountant and Taxes" reports

Troubleshooting

• Where to find the manual
• Verify and rebuild
• Repairing damaged files – do-it yourself instructions
• Recovering forgotten passwords
• Condensing and Archiving
• Backups – writing scripts in Notepad, scheduling backups
• Role of the Accounting Technology Expert

QuickBooks Limitations

• Limitations defined – what questions to ask
• Sluggish performance – what to do
• When not to recommend QuickBooks
• MacIntosh version limitations

Conclusion

• Review participant’s wish list & preferences