Small Business Susan

Quickbooks 2009

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.



2 comments ↓

  • #   Kerry Riddle on 11.24.08 at 1:49 pm     

    If you are an online banking user you may want to wait for the promised Dec 2009 update giving back on-the-fly Add user, add account and a few other features. (This was a hot topic at the Sleeter conference and is getting good focus from the Intuit product team).

    QuickBooks 2009: Improvements in Online Banking

    At Issue

    Among the wide array of improvements made in QuickBooks 2009[1], from Client Data Review to multi-currency and more, changes were made in Online Banking to make it easier for more users. Our goal is always to help you (and your clients) save time. However, for some customers, our redesigned Online Banking feature isn’t generating the desired time savings or ease of use for you (or your clients).
    Audience Affected

    ProAdvisors and Clients Who Rely Heavily on Online Banking in QuickBooks 2009. How big is this group? From research to date, Intuit believes this group makes up 4% of general QuickBooks users but possibly 10-20% of accounting professionals.
    You Spoke and We Listened

    Intuit now has programmers working overtime to complete an update for QuickBooks 2009 planned for late December 2009. That update release will address the top online banking functions requested in feedback from ProAdvisors and other users:
    • “Quick Fill” Capability. QuickBooks will recognize what you are typing, such as payee and account names, and complete the information for you.
    • Add New. QuickBooks will let you Select Add New from a dropdown menu so you will be able to add new names, accounts, and classes within Online Banking.
    • Manual Match. QuickBooks will let you select and manually match a QuickBooks transaction to the downloaded transaction. [2]

    To Come: Handling Multiple Transactions

    Intuit is also working on requests that we restore the ability of heavy users of online banking to review and add multiple transactions at once – that is, to review recognized transactions, edit them, and then save them in a batch.
    Our programmers are working overtime to restore this functionality, too. We will alert you as soon as we have an anticipated release date.
    Requested Action

    • Educate affected clients as needed.
    • Encourage clients to accept automatic updates.
    • Encourage clients to continue to upgrade to QuickBooks 2009 for the wide array of substantial improvements.
    • For affected clients or your own practice, see the Workaround on Selected Transaction Types following.

    Workaround on Selected Transaction Types

    Frequent writer on QuickBooks, Kathy Ivens[3], has noted that these announced fixes are an important improvement. She notes that the changes don’t yet resolve the ability to enter deposits that are sales, or withdrawals that are disbursements involving inventory purchases within the Online Banking interface. These types of transactions should be entered using the normal QuickBooks forms, she suggests. Then, users can go into Online Banking to match them.
    Ivens has posted her suggestions on how to work around this issue in more detail. The link below takes you to her solution. Intuit is also at work on a set of supplemental workflows, which we will publish soon.
    “2009 Online Banking: Problem Adding Some Transaction Types”
    At Intuit, Greg Wright, Director of Product Management, is helping lead the effort to respond to user and ProAdvisor feedback. Part of that response includes our engaging a group of ProAdvisors to help us design the Online Banking updates. Greg is also sharing out information frequently on the status of the update via various user forums and Intuit’s QuickBooks forum.
    You can visit Intuit’s QuickBooks forum or direct your feedback to the Online Banking Team or via the QuickBooks ProAdvisor Team.
    We have also explored the idea of “rolling back” online banking to its earlier state. Unfortunately that solution isn’t feasible, which is why Intuit is addressing the issues it can fix in the short term, as noted above.
    Notes

    Bank of America. S


  • #   RPopeCPA on 12.11.08 at 4:01 pm     

    I have used QuickBooks for about 10 years and in the past I have been pleased with its features. So when QuickBooks 2009 came along and offered better online banking, I jumped on board. I am so dissapointed with the online banking. At this point, I am wondering why I paid good money to torture myself with this software. The experience was so bad that I dumped my 2009 file and went back to 2008 costing me hours of wasted time and effort. I will never again download the newest version of QuickBooks until I read the reviews. I am warning all of my clients to stay away from QuickBooks 2009.