Enhancing QuickBooks Functionality -
9 ways |
 Last issue, we discussed Peachtree vs. QuickBooks. This issue, we will focus entirely on QuickBooks and describe 9 different tools that will help owners of small and medium-sized businesses get more out of QuickBooks. These tools stretch the capabilities of QuickBooks and feature unparalleled integration with the program.
1. eFileCabinet (eFileCabinet.com)mimics a traditional paper filing cabinet. This remotely hosted digital filing system enables your business to go paperless. It utilizes a secure portal to share large files and documents with your clients called Secure Drawer. Each employee or user can be assigned a different level of security so you can regulate their access to the system.
Users can print documents and reports directly to eFileCabinet and create PDFs, potentially eliminating the need to purchase Adobe Acrobat. Direct integration with Microsoft Office lets you save files directly to eFileCabinet. The program also offers features that enable you to achieve HIPPA, SEC and FINRA compliance. Version 5.0 will be available this summer.
2. Bill.com is a paperless AP/AR system that streamlines your payables management process by electronically paying invoices. When you automate your bill paying process, your audits and ability to predict cash flow improve. Bill.com allows you to access and monitor all of your business financial information remotely. Another advantage is the decreased likelihood of written errors and check fraud.
One of the first automated online bill and payment management utilities, Bill.com lets you schedule invoice payments and automate the remainder of the payables process. You fax or scan invoices and upload them to the secure Bill.com service. Plus, enjoy on-time payment guarantees and anytime, on-demand reporting. Vendors can even sign up for direct deposit.
Bill.com works in a multi-user environment where approvals are required by automatically sending email reminders and sign-offs to responsible supervisors. The program is easy to use, with data transferred as necessary when payments have been processed.
3. XpandedReports (XpandedReports.com) takes QuickBooks reporting to a whole new level and allows you to easily create the reports you need in the format you desire. The program surpasses Excel spreadsheet capabilities by offering more search filters and customizable, reusable templates. You'll get access to data not available in QuickBooks reports.
In one click, you can go from a detailed report to a pivot/summary report. Grouping is also much more powerful than simply sorting as is available in Excel. And you can Export and share report templates with other XpandedReports users. XpandedReports includes both QuickBooks type reports and expanded reports to provide a starting point for modification. Available as a monthly subscription, users can be added and subtracted as desired.
4. Qvinci (Qvinci.com) securely consolidates all QuickBooks information into one cloud-hosted server as soon as it is entered into your system, making it immediately available for review. This is especially useful if you have a lot of people working in the field or telecommuting.
The program delivers easy-to-use and understand financial management geared to non-accountants. With Qvinci, all authorized users can view key business indicators displayed in a dashboard for various responsibility levels and updated in real time.
That enables staff members to establish metrics for improving performance and collaborate in working toward shared goals. Managers get better control over productivity with quick overviews of key indicators, activities, budget-to-actual reports, early warning indicators and more.
5. AuditmyBooks (AuditmyBooks.com) protects your company and your clients from honest accounting mistakes as well as fraud. This remotely-based program automatically analyzes accounting records, identifying any irregularities or mistakes. Reviews can be scheduled daily, weekly or monthly.
After reviewing all transactions, AuditMyBooks presents potential risks in a simple "management dashboard" for review by business owners or their trusted advisers. The results are delivered in plain-English. You don't need experience in finance or accounting to understand them. Secured and hosted by Intuit, this program works via Intuit Synch manager using the latest technology to protect your data.
6. VirtualSoftware (VirtualSoftware.net) is a time, billing and expense reporting program with easy export to your payroll provider. Accessible from any web browser, the program increases your efficiency while reducing administrative fees. Created by former CFOs, the program makes paper time sheets obsolete, decreases the need for data entry and improves accuracy.
VirtualTime features online time entry and approval, generates accurate, detailed invoices and gross payroll. Virtual Expense includes online expense entry and approval, project billing support and robust reporting.
7. Methodintegration (Methodintegration.com) offers customizable web applications for QuickBooks users. So you can build and maintain your business processes through customization. Add fields, tables and screens that don't exist in QuickBooks. Avoid double entry. And synch QuickBooks customers, vendors, employees and financial transactions in real time with your web browser.
The program also allows you to share access to financial data, product inventory and service schedules with your customers, partners and staff via portals, mobile browsers and third party applications.
8. SmartVault (SmartVault.com) is geared to accountants who have clients using QuickBooks. A web-based add-on, the program provides advanced document management features that can be used by clients and their accountants to improve collaboration and client-side document retention.
The program lets you attach a document or file to any QuickBooks transaction and store digital documents in secure, online storage facilities. You can instantly create copies or share the document with other users. A special toolbar creates a seamless experience for scanning, attaching and finding documents.
The system can be set to automatically perform data backups with intuitive wizards that simplify the process. Additional tools for managing multiple clients, their portals and workflow functions are available through a centralized management portal.
9. Expenseware (Expenseware.com) is a web-based program geared to expense tracking and reporting. Accessible from anywhere, business or client expenses can be immediately entered as they are incurred. Using customizable features, you can group expense allocations by category, department, client, project, or other factors and split or itemize expenses.
A supervisor approval process can be used that flags individual expenses. Requests for clarification can be generated. And optional automatic Email alerts sent to keep key people in the loop.
After entry and approval, an expense report arrives in a format that allows data import and entry of transaction items into QuickBooks.
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Caren's favorite QuickBooks Shortcuts
Shortcut One: Making the Icon Bar Work
for You
Customize the icon bar at the top of
the screen to hold the functions
you use most often. Just right click on
the icon bar and click on Customize.
Shortcut Two: Saving Transactions from
Keyboard
When working in a transaction and tabbing from
field to field, you eventually get to the point where you want to save the
transaction.
If you do not wish to take your hands
off the keyboard to move the mouse to the Save & New Button, try holding
down the CTRL key while pressing the Enter key. This combination will execute
whatever is highlighted, almost always the Save & New Button.
Shortcut Three: Calculations on the Fly
How often have you worked in QuickBooks
and needed to add up numbers?
If you are in an amount field on a
check or other transaction, just pressing the number keys followed by a mathematical
symbol (+, -, /, *) will pull up the calculator. You can continue to enter
numbers and math functions until you are done.
Note: Remember to press the Enter key
to enter the amount into the number field. If you press the tab key you will
lose the amount.
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Quick Links
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Caren's web site
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Current Software Versions
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Are you up on the latest? The most recent versions
available include:
Amicus Attorney v2010 Premium Edition
Amicus Attorney v2010 Small Firm Edition
Amicus Accounting v2010
PCLaw v10.03a
Peachtree v2010, all editions, SR1
QuickBooks v2010, all editions, R5
Time Matters v10 SP1
Timeslips v2010 SP2
Note: While manufacturers support only the latest
release and two versions back, Time & Cents provides support on all
versions.
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