December 2011
Welcome to David Ashkenaz
Independent PrintSmith Consultant Newsletter

 

Dear Friends and PrintSmith Users,

 

 This issue's articles will be about year end PrintSmith procedures and also writing off bad debt from PrintSmith.  

I hope you enjoy reading it and I thank you for your support and for your business during 2011.
 
 May you and your family have a joyous holiday season and best wishes for a prosperous New Year.

 

Again, thank you for reading my emails and for your feedback!

 

The current version of PrintSmith is 8.1.15, upgrade today!

 

Best Regards,
David Ashkenaz
Independent PrintSmith Consultant
954-977-7811
PrintSmith and Year End Procedures
 
There is no official year end procedures to do in PrintSmith, however, I listed a few of my own.
 
1) Do your daily closeout on the last working day (right before you close) of the month.
2) Then do a monthly closeout.
3) Run an accounts receivable aging and "save" it as one of the options in PrintSmith. It is also a good idea to print it out.*
4) Do a backup as your normally do.
5) Do another backup, label it 2011 and store it in a safe place.**
Enjoy your holiday!
 
Notes:
* An aging is needed for your accountant and for your Balance Sheets. Printing out a complete AR will show the aging of all your accounts.
 
**Doing a separate backup will allow you to go back to 12/31/11 in case you "forgot" anything for year end or in case you need to recreate PrintSmith.
Bad Debt and PrintSmith
 
Many times you will have clients who for what ever reason doesn't pay you. Bad debt as it is called, needs to be written off of your books and PrintSmith. Now (year end) is the perfect time to do this.
 
Many accounts  prefer to just write off your bad debt on your tax returns and balance sheets. This is fine, but they forget or ignore the fact that it should be taken off of PrintSmith AND sales taxes that were paid on them need to be recovered.
 
As a result, I suggest that you do a journal entry in PrintSmith to remove the bad debt. This will automatically decrease your sales for the month, which, decreases your tax liability as well.
 
Some users will set up another sales category called "bad debt" and have the journal entry go into this category. That is not a bad idea, however, remember to have it affect sales so that the sales tax gets accounted for.
 
Also remember, bad debt is a function of doing business. Although you want to limit your bad debt, it is not a bad thing to have some bad debt as well.All companies, large and small budget for bad debt!
PUSH Support and Bar Code Readers
 
Thanks to all of my PUSH Users -- As year 2 starts, I am happy to report a 100% renewal rate! Thank you all!
 
PUSH Support and bar code readers are still available for sale.
 
PUSH (PrintSmith Users Support Hotline) is a service available 24/7 for PrintSmith users to contact me. The yearly cost $550.00 includes a dedicated "private" line.
 
Bar Code Scanners are $200.00 each ($650.00 each, for the wireless ones). They are FOB your location, so the price includes all shipping charges. They are a must need for any PrintSmith users.
 
Please use the below links to order them via PayPal or use the credit card authorization form to use a credit card.
 
Please feel free to email or call me with any questions.
 
 
 
 
Join Our Mailing List

 

Thank for your continued support. I look forward to help all PrintSmith Users!


 

David Ashkenaz, Independent PrintSmith Consultant

954-977-7811