If you are an Accountant or consult with Accountants, urge them to upgrade to Quickbooks 2009. They’ve added a very very cool tool to Quickbooks 2009 that organize and streamline a process that Accountants do when we get a file from a client.
I normally open up the file and if there is a balance in Opening Balance Equity that’s a telltale sign that information is not as it should be.
In the new 2009 version there is a new section in the Accountant’s version of the program called the Client Data Review.
All of those steps that we’d normally go through to clean up a mess are now organized in one checklist style part of the program.
See that first one up there at the top? So many times when I open up a Quickbooks file the balances that are supposed to be there as of 12/31/whatever year end are not what they are supposed to be. Why? Because the client has posted entries that impacted the ending balances. We try to put a closing date thorugh date on the books but sometimes they still make adjustments.
You can squeeze out the differences right inside the program now rather than having to pull a new working trial balance.
I subscribe to the Quickbooks Professional Advisor program so that I get the new version every year. I think it’s a must for any CPA to sign up for this program. Sort of like Action pack for IT pros, the Quickbooks Pro Advisor program is a must.
Word I’ve heard is that it cuts from 2 to 10 hours off of the normal year end clean up time that we do in anticipation of the year end tax work.
So this year… if you are an Accountant, buy yourself an early Christmas present and get a copy of Quickbooks 2009. It will probably be the best present you buy for yourself.