Receiving a payment is so much more fun than paying bills and making collection calls wouldn't you agree? Receiving payments actually means we can pay those bills and pay our employees, right? So without hesitation, receiving payments and recording them properly is important and, I would say, the very "heart" of your business. So, it just seems appropriate to talk about "heart (payments)" during the month of Valentine's Day and National Wear Red Day. Read the two articles below about receiving customer payments and best practices for payments. If we haven't seen your smiling face in a while, please call 256-337-5200 and schedule a QB health check so we can get your QuickBooks "heart" healthy this month.
 Reminders:
- Discounts, specials, and promotions: Check out our monthly specials posted each month on our website. Click here or on the far right corner of our main website page where the page is folded down.
- Training: Our next class will be the Fundamentals of QuickBooks, 3-20-14, from 9am-1pm, for details, click here.
Don't forget to t une in each Thursday at 6:45am to "QB Bob" on the radio (WTKI 1450AM 92.9FM) for QuickBooks tricks & tips. Tune in this Wednesday, 2-26-2014, for Bob's Monthly "QB Bob on the Radio" show from 8-9am, click the following link http://www.wtkiradio.com/listenlive.html
Thank you again for your support!
Have a fantastic week,
The "QB Bob" Team
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2 Ways to Receive Customer Payments
QuickBooks offers more than one way to document customer remittances, and it's important that you use the right one for the right situation.
Defining the destination
Figure 1: Uncheck the box on the farthest right if you think you may want to direct payments to other accounts sometimes.
Before you begin receiving payments, you need to make sure they'll end up in the correct account. The default is an account called Undeposited Funds. To make sure that this setting is correct, open the Edit menu and select Preferences, and click the Company Preferences tab. Use Undeposited Funds as a default deposit to account should have a check mark in the box next to it.
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9 QuickBooks Best Practices for Payments
Old habits are hard to break. Once you start doing something one way, it can be hard to change course. There has to be a reward, a reason for altering an existing approach to a task.
In the case of QuickBooks best practices for payments, the rewards are clear.
- Your cash flow will improve.
- You'll save time, which saves money.
- You'll minimize late fees and poor credit.
Figure 1: Best practices benefit your business in many ways, but they can also offer your customers convenience, like the option to pay invoices online.
Suggested approaches
You've probably incorporated some best practices into your business already -- especially if you've had any QuickBooks training. They aren't hard-and-fast rules: Many are just common sense.
Here are some of the best practices that we recommend you incorporate into your workflow.
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Goodbye to QuickBooks Financial 2011 Support
Need to Upgrade to POS v.11/2013 or Modify Payment Accounts
On May 31, 2014, Intuit will discontinue support for QuickBooks Financial Pro, Premier, Simple Start 2011, QuickBooks for Mac 2011, and QBES 2011. You can continue to use these solutions, of course, but live technical support and add-on services like payroll, credit card processing, online banking and bill-pay will not be accessible.
On May 31, 2014, Intuit will also discontinue technical support and store exchange if you are using Multi-Store Version QB POS v.10. By November 1, 2014, Intuit will need to recertify all payments accounts to be PCI compliant. Beginning 1 November, all NEW QuickBooks Point of Sale Payments clients must be on POS v.11/2013. Existing Payments clients on POS v.8, v.9 or v.10 will need to add/modify their Payment account(s). Small Business Solutions will continue to support all POS versions, but if there is an issue beyond our knowledge, then we will not receive support from Intuit to resolve the problem.
Talk to us about upgrading if you're using any of these products or services.
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Small Business Solutions LLC
PO Box 10053 Huntsville, AL 35801
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