The Helper

Fifth Point Enterprises, Inc. Newsletter March 2010
In This Issue
User-Defined Fields
Fraudulent Emails
Eight Things To Know If You Receive An IRS Notice
Featured Client: Curves
POSEnterpriseProAdvisor
Contact Us:
 

Wanda Green
Lexington,Ky

Tammy Maxwell
Covington, Ga
770.786.8654
  
QuickTip 
 
One of the most common mistakes made by QuickBooks Users is using the Enter Bills feature to enter bills from Vendors, but paying the Bill by writing a check (instead of using Pay Bills).  This error will cause your Accounts Payable to be overstated (all of those Bills you wrote by using Write Check will still be outstanding).  A simple fix is to Delete the Bill.  Just make certain that you have all of the Bill details included on the Check.
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Using QuickBooks online banking for your bank accounts and credit card accounts can save you hours of time.  Intuit has made big improvements in the 2010 version of QuickBooks
Would you like to deposit checks from your desk, rather than going to the bank?  You can with QuickBooks!
SPECIAL OFFERS FROM FIFTH POINT   
  • Take advantage of our Referral Rewards Program to earn free support services from Fifth Point.  Details are on our web site.
  • If you are considering an accounting/financial software, or having problems with your existing QuickBooks Financial or POS program, contact us.  We'll come to your business and discuss your needs and how we may be able to help you.  Or if a phone or e-mail conversation works best for you, we will accommodate!  Using QuickBookstm, and having it INSTALLED, CONFIGURED and PROGRAMMED correctly for YOUR business can save you hundreds (sometimes thousands) of dollars AND HOURS
Dear Readers,
 
If you unsubscribed to our newsletter from the link at the bottom provided by Constant Contacts, your email address was not provided and could not be removed from our list.  Please visit our website fifthpoint.net and click on the Remove Me From The Mailing list envelope to be removed from our list. The Constant Contacts link at the bottom of the page will now remove you from future newsletters. We are sorry for any inconvience this may have caused.
 
If you have questions about any QuickBookstm product, please contact us
at the e-mails, phone numbers or web site listed. 
User-Defined Fields -
The POWER of QuickBooks Starts Here!!

 

There is a feature of your QuickBooks Financial Software that you may not know about, but that is very powerful:  Custom Fields/User-Defined Fields.  Specifically today, we are talking about Custom Fields for Customers, Vendors and Employees.  This method of customizing QuickBooks provides you with extraordinary reporting and tracking capabilities.

Custom fields let you add to the information that QuickBooks tracks about your customers, vendors, and employees.  You can also add your custom fields to your customized forms. The information you enter in a custom field transfers automatically to any customized form in which the custom field appears.

         You can add your own customized fields to the windows where you set up customers, vendors, or employees.

         Information you enter into the fields can be just for your use, or they can prefill on certain forms (such as Estimates and Invoices) when you enter a name on the form.

         You can also include data from customized fields in your reports.

QuickBooks treats the information you enter into a custom field the same way it treats information entered into any other field. If you memorize a transaction that has a custom field, QuickBooks memorizes what you entered in the field along with the other details of the transaction. If you export a list that contains data in custom fields, QuickBooks exports that data.

Examples:

         Track sales by region or any other criteria you require

         Contractor's license number or experience rating

        How a member or customer was referred

         Membership or contract or subscription expiration date

         Email address

         Year member joined or first year service provided to a customer

         Membership anniversary, client's anniversary, birthdates

         Grant number or type

Fraudulent Emails
 
Here's an update to Intuit's recent alert regarding fraudulent e-mails: For information, go to http://security.intuit.com/alerts/alert.php?a=5
Intuit is investigating fraudulent emails that were sent and claimed to be from The Intuit Online Team. The email requests users to update account information by clicking a link that goes to a fraudulent web site or may download what the email indicates is a "security tool." These messages often include logos and toll-free numbers and postal addresses.  Intuit did not send this email and will never use emails to request personal information or update security tools. 
What should you do?
  • Be suspicious of any email that asks for personal information, requires you to download anything or requests information to access your account.
  • Do not click any links in a suspicious email.
  • Do not download any tools from an email.
  • Delete suspicious emails from your inbox and your trash bin immediately
If you've provided information through a fraudulent website, or if you have downloaded a "necessary" or "security tool" from a suspicious email:
  • If you have downloaded the tool, delete it. Scan your system to remove any viruses. Several vendors offer free security tools. We have confirmed that the online scanners from ESET and Panda Active will detect and attempt to remove this virus. Use ESET Smart Security at http://www.eset.com/onlinescan/ or Panda Active at http://www.pandasecurity.com/activescan/index/.
  • Change all passwords. Make these changes from a system that is not infected or after you have removed the virus.
If you have any questions, please don't hesitate to contact Fifth Point for help. 
 


Eight Things To Know If You Receive An IRS Notice

Every year, the IRS sends millions of letters and notices to taxpayers. Many taxpayers will receive this correspondence during the late summer and fall. Here are eight things every taxpayer should know about IRS notices - just in case one shows up in your mailbox.
1.       Don't panic. Many of these letters can be dealt with simply and painlessly.
2.       There are number of reasons the IRS sends notices to taxpayers. The notice may request payment of taxes, notify you of a change to your account or request additional information. The notice you receive normally covers a very specific issue about your account or tax return.
3.       Each letter and notice offers specific instructions on what you are asked to do to satisfy the inquiry.
4.       4. If you receive a correction notice, you should review the correspondence and compare it with the information on your return.
5.       If you agree with the correction to your account, usually no reply is necessary unless a payment is due.
6.       If you do not agree with the correction the IRS made, it is important that you respond as requested. Write to explain why you disagree. Include any documents and information you wish the IRS to consider, along with the bottom tear-off portion of the notice. Mail the information to the IRS address shown in the upper left-hand corner of the notice. Allow at least 30 days for a response.
7.       Most correspondence can be handled without calling or visiting an IRS office. However, if you have questions, call the telephone number in the upper right-hand corner of the notice. Have a copy of your tax return and the correspondence available when you call to help us respond to your inquiry.
8.       It's important that you keep copies of any correspondence with your records.
For more information about IRS notices and bills, see Publication 594, The IRS Collection Process. Information about penalties and interest charges is available in Publication 17, Your Federal Income Tax for Individuals. Both publications are available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).


 Featured Client: Curves - Lansdowne, Lexington, KY
 


Curves-Lansdowne is a fitness & weight management facility featuring Curvesmart . . . the most advanced fitness technology in the world, designed to maximize the benefits of your personal workout. They offer supplements to enhance both their weight management program and fitness workout.

 

Gail Harned has been the owner of Curves since January of this year, but she has been an employee for the last 5 years--which made it a natural transition for her.  She has a great interest and love for health and wellness, and Curves is a great venue to utilize and promote her passion. Curves is unique in many ways! It is a women's fitness facility so it's a place women can come and not feel intimidated. It offers a 30-minute workout that includes strength, cardiovascular, and flexibility training! That in and of itself is amazing!  Gail says:  "Our machines are hydraulic which makes it easy for any woman to use. You will receive one-on-one personalized training for as long as you feel it necessary. And your workout is personalized taking into consideration any current or past health issues."

Special Offer:  Join now and receive 50% off the enrollment fee AND the first 30 days free!

Curves annual food drive runs March 8-13 Bring in a bag of food and join with NO Enrollment fee!

 

Curves-Lansdowne also welcomes Silver Sneaker's members  ! If you are 65+ and have a participating medicare supplement you can work out for FREE!

Regarding Curves' relationship with Fifth Point, Gail says:  "When I made the decision to purchase Curves I soon realized that I would need assistance with my bookkeeping. Wanda was recommended by the previous owner and I feel so fortunate to have Fifth Point handling all my payroll taxes and helping me with anything QuickBooks related. I have spent several hours with Wanda in training and getting my books in order, and am confident that my business is in good hands! I can now focus my energy on promoting my club and building relationships with my members."

 

Contact Gail and Curves-Lansdowne at 859.268.2007 or click at www.Curves.com.  They are located at 3313 Tates Creek Road in Lexington.