subject: Outsource Quickbooks accounting work to India [print this page] Outsource Quickbooks accounting work to India
New Features on QuickBooks 2010
Intuit Statement Writer
Intuit Statement Writer is an additional paid service provided on 2010 version of QuickBooks.
A wizard for creating financial statements and reference documents, Intuit Statement Writer 2010 is all new in Premier Accountant 2010.
Create up to 16 statements in one workbook and batch print the statements and documents
Build financial statements on a per-class or per-job basis, or as a combination of classes
Access over 50 statement and document templates online
Set ANY date range for statements, including 4-week months or 13-week quarters
Send consolidated reports to clients in .pdf format
Create Microsoft Word-based letters, cover pages and documents in report, and bring QuickBooks financial data into documents
To create Professional Financial Statements on spreadsheet, format the reports; upload the changes from QuickBooks to spreadsheets or spreadsheets to QuickBooks, detect the cost or income from the total expenses, are made easy with the Intuit Statement Writer.
Though, the feature was available earlier to export the Financial Statements to spreadsheet, but it was not feasible to update the changes or look for the breakups in details using QuickBooks. Every time, as and when the changes were made on QuickBooks, it was necessary to export the new reports to spreadsheet.
There are commands to format Fonts, Rows, Columns and Cells very much available in the Microsoft Excel Worksheet, but are not possible to use when we work with Intuit Statement Writer. Because the Intuit Statement Writer contains a set of activities to format the Fonts, add or delete Rows, Columns and Cells associated with the Financial Statements using the Statement Writer.
This has made easy and comfortable to send the Financial Statements like Balance Sheet, Income Statement, Budget to Actual, cover letter, Audit Report and many other Statements for final review or for the presentation to the stake holders, Partners, other legal authorities, which was not possible earlier using Export to Spreadsheet.
All the modification and filter was done on QuickBooks and later was exported to spreadsheet, if any further information is changed or added, again the old Statements was to be replace by the new repo Statements. This hassle has been overcome using Inuit Statement Writer.
Over all motives is to save time more than 2 hours per client. Comparison of Reports with percentage and calculation of Variance, combining and separation of Accounts, classification by class and job, choice of statements date, month, quarter or year wise, Review Reports, Compilation Reports and Retained Earning Statements.
The New Intuit Statement Writer is a great tool for customizing QuickBooks Financial Statements. The Financial Statement Designer and added features are most wanted by making the Statement Writer work in Excel. Now there is full range of Excel commands to take the work where it is quickly and easily created.
A lot of clients require actual to forecast budget. Earlier it was created everything in the previous report writer; dump it into Excel and then do a quick look up of their budget files and merging the files. With the Budget to Actual reporting in Statement Writer, it saves 2 to 3 hours per client.
The Financial Statements so created using Statement Writer can be saved as either Spreadsheet of a PDF file on any drive of the computer. It can be set with preferences of the General Preferences to diagnose the installation and storage location, Formatting, Accountant Information with the company name and address, Header/Footer to be visible on the Statements.
Resources are also available as ISW Community online help, ISW Support Indexed help texts and additional Templates can be downloaded.
Client Data Review
Similar to spell check for the clients' QuickBooks files, Client Data Review helps to find and fix client entry errors with 4 new tools in Premier Accountant 2010.
Reclassify hundreds of transactions, or write off multiple invoices, statement charges, and financial charges from a single window
Identify items with negative inventory in two clicks, then fix them directly in Client Data Review
Identify and make adjustments to incorrectly set up items, including "one-sided items"
Automatically fix incorrectly recorded Sales Tax Liability payments
From Premier Accountant 2010, use Accountant's Copy to fix and send back client files from QuickBooks Pro and Premier 2009
Clean Up, it takes average 4 hours per client, advising, consulting, searching the bills, invoices, receipts, checks, analyzing and confirming the actual transactions before marking for reconciliation or recording a transaction.
Account Balances to work with Troubleshoot, reclassifying and to work with open working Trail Balances, Review list of Added, Changes, deletions and merged on Chart of Accounts, Items, Fixed Assets, Items, Payroll Items, Customer and Vendor.
Accounts Receivables to fix unapplied Customer Payments and Credits, Clear-up Undeposited Funds, Review AR Aging Detail Report, can be auto applied while reviewed.
Accounts Payable to fix unapplied Vendor Payments and Credits, Evaluate and Correct 1099 Account Mapping, Review AP Aging Detail Report
Sales Tax to find incorrectly paid and adjustment of Sales Tax, identify sales or payroll taxes paid wrong or more
Inventory adjustments of Quantity, tracking of quality used and sold or adjusted.
Payroll liabilities if paid incorrectly, employee settings, after the fact payroll reviews
Bank reconciliation clean up tasks to locate discrepancies and review missing checks
To write off the Bad Debts, collectively and save the details as a PDF file for reference and the details are saved as memo in the respective documents. Void the unclear checks
Average time savings reported by actual Client Data Review users to track list of changes, by finding and pinpointing the exact discrepancies for quarter or year end clean-up of client files.
Any period reviews can be made using Accrual or Cash basis and status is also maintained for related reviews, task notes added as Review Notes, Audit Trail of Review is available for references.
Again this feature is also to save time to review a mass data and analyze or finalize the transactions together in a meeting or while audit, though most of the reviews are periodically done while bookkeeping daily, weekly or monthly, this will save time to clean up all the tasks at once.
