Remember to schedule your FREE meeting with us to see how we can save you time and money!

(520) 241-0371
info@eclconsulting.com

ECL Consulting now  offers our clients the option of paying their invoices via Pay Pal.  Look for a link on your invoice to take you directly to Pay Pal.  Save time and money by paying online, securely and easily.

 

Email for submitting monthly materials: 
carol@eclconsulting.com

Fax number for submitting monthly materials:

1-520-843-2092  

(Please be sure to dial all the digits, including the leading 1, even if you are in the same area code.) 

ECL Consulting, LLC has partnered with A+ QBooks Consulting & Services, LLC to bring you substantial savings on QuickBooks.

 

QuickBooks Enterprise Solutions 9.0 5 to 30 users software special - from $50/month! 1 year of Full Services Plan by Intuit is included! 
 
Complete QuickBooks Point of Sale 8.0 new systems special - from $40/month! Includes a computer, 1 user software, 1 receipt printer, 1 barcode reader, 1 credit card swipe, and 1 cash drawer.

Call (800) 609-0788 or email for details or to order.

 

Through June 1, 2009:

Arizona will offer Tax Amnesty -- an opportunity for those who live, work or do business in Arizona to pay any back taxes owed to the state without penalty or criminal prosecution, and at a reduced interest rate for those who qualify.  

 

The following taxes are included in the Amnesty Program:
- Individual Income
- Corporate Income
- Transaction Privilege (Sales), Use
- Withholding
- Partnership
- Fiduciary and Luxury (Tobacco & Liquor)

 

For taxes filed on an annual basis, such as income tax, amnesty is available for years beginning on or after January 1, 2002 and ending before January 1, 2008.  Taxpayers who file taxes, such as transaction privilege or withholding, on a monthly or quarterly basis are eligible for tax periods beginning on or after January 1, 2003 and ending before January 1, 2008.

 

Amnesty Tax Returns MUST be accompanied by the Amnesty Application form, and MUST be filed or postmarked and paid in full by June 1st in order to qualify for the Amnesty Program.

For more information, visit http://www.azdor.gov/taxamnesty/
 

Did you know that ECL Consulting offers organizing services for your small business?  Our Expert Organizers are experienced in developing systems for efficiently managing paper records & digital files, maximizing office space, process & project management, scheduling & time management.   Contact us to learn more.

Through June 30, 2009:

The City of Tucson is offering the business community a tax amnesty program.  This rare opportunity will allow Tucson business owners to submit delinquent sales tax or license fees without penalty and with reduced interest due on delinquent balances. This is also an opportunity for Tucson businesses that are not licensed to get licensed, without penalty. 

 

For more information, see http://www.tucsonaz.gov/hottopics/amnestyprogram.html

Q: How can I use QuickBookds to manage collections?
 

1. Set Reminders.  QuickBooks can display a reminder window when you open your QuickBooks company:
Choose Company, Reminders, and then click the Set Preferences button.  Choose the My Preferences tab, and then click the Show Reminders List When Opening a Company File on the My Preferences tab.  Click the Company Preferences tab, and choose Show List for Overdue Invoices. You can enter a negative number to be notified of overdue invoices before they reach their due date.  Click OK to save your changes. 

 

2. Monitor Customer Balances.  In addition to tracking overdue invoices, you should also stay abreast of how much credit you've extended to each of your customers.  One way to do this is to use the Customer Center whenever you create new invoices:  Choose Customers, and then Customer Center (you can also click the Customer Center toolbar icon or press Ctrl-J).  The customer center lists the Balance total for each customer.  You can use this information to determine whether you want to sell additional products or services.  You can quickly create an invoice from the Customer Center: select a customer name, and then press Ctrl-I (as in I for invoice).  You can add an Open Balance column to the transaction list.  To do so, right-click on the transaction list, and then choose Customize Columns.  Choose Open Balance from the Available Columns list, and then click the Add button.

 

Expert trick: To sort customer open balances in descending order, click twice on the Balance Total column.

 

3. Create an Overdue Watermark.  An attention getting messages, such as "OVERDUE!" or "PLEASE PAY!" can add impact to follow-up copies of invoices that you send out.  It's easy to add a watermark to your invoices:  Choose Customers, and then Create Invoices to display the Create Invoices window.  Click the Customize button on the toobar, and then click the Manage Templates button.  Select an existing invoice, such as Intuit Product Invoice, and then click the Copy button.  Use the Template name field to assign a name like Overdue Intuit Product Invoice, instead of Copy of: Intuit Product Invoice.   Click OK to close the Manage Templates window, and then click the Layout Designer button in the Basic Customization window.  Click the Add button on the toolbar, and then choose Text Box.  Enter the message you want to add in the Text field, such as OVERDUE!  Click the Font button, and then make these changes:

Once you've set the font settings, click OK to close the Font dialog box, and then click the Border tab. Unclick Top, Left, Right, and Bottom, and then click OK.  Resize and reposition the text box on your invoice, such as in the center of the body section.  Right-click on the text box and choose Order, and then Send Backward.

 

Going forward, you can choose this template from the list anytime you wish to follow-up on an overdue invoice. 

 

4. Send E-mail Follow-ups. 
A friendly note can sometimes shake a payment loose on an overdue invoice.  For instance, you can choose Reports, Customers & Receivables, and then A/R Aging Detail. Double-click on the invoice in question to display it onscreen, and then click the Send button on the toolbar, which looks like an envelope with a green arrow.   You can customize the body of the e-mail to your liking.  If you typically mail print copies of your original invoices, then consider changing the default text of the e-mail to make your collections easier.  

 

To do so, click the Edit Default Text button and then make any changes that you like.   Do note that these changes won't appear in the Send Invoice window until you close it and click the Send button again. Click the Send Now button to e-mail the invoice copy to your customer. 

 

5.  Use Statements.  QuickBooks makes it easy to send statements to one or more customers.  Choose Customers, and then Create Statements.  Set the desired options, including which customer or customers to contact, and then choose Print or Email to generate the statements.

 

6. Tweak the Collections Report.  When calling on an overdue invoice, it's helpful to make sure that your customer is aware of all pending invoices.  You can easily tweak this report so that it lists all open invoices:  Choose Reports, Customers & Receivables, and then Collections Report.
Click the Modify Report button, and then click on the Filters tab.  Click on the Date filter, and then choose Remove Selected Filter.  Do the same for the Aging and Due Date filters, and then click OK.  The Collections Report now displays all open invoices.  You can click the Memorize button to save this report for future use.

 

7. Accept Credit Cards.  Many business owners avoid accepting credit cards due to the fees involved, which can top 3%.  However, 97% of an overdue invoice is far better than 0%, or having to wait even longer to collect.

You can learn about QuickBooks Merchant Services by choosing Add Credit Card Processing on the Customers menu in QuickBooks.  Or, consider a payment service like PayPal (www.paypal.com), which offers a free Request Money with QuickBooks wizard.  Look under the Merchant Services section of your PayPal business account.

 
Ever have an accounting, tax, QuickBooks or cash flow management question and didn't know who to ask?  Now you can Ask An Expert!  Email us your questions and we will print the question and the answer in our newsletter!  No question is too big or too small.