GR8 KWIK BOOKS "for all your QuickBooks needs"
WELCOME TO GR8 KWIK BOOKS DECEMBER NEWSLETTER.
WOW! We wake this morning with the feeling of where did 2011 go? We hope that it has been a good year for you and your business and wish you well for 2012.
Welcome to our new customers receiving your first newsletter from us. We look forward to helping you for years and watch your business grow with our online/remote training and of course coming to you.
Paula, Rhondda, Lisa and Glenn have enjoyed working with you, training you and most importantly getting to know you.
CHRISTMAS AND HOLIDAY HOURS
The office will be closed from Friday 23rd December 2011 until Monday 16th January 2012. Excluding Public Holidays the message bank will be checked twice a day and emergency support by phone or remotely will be available.
We wish you well for the festive season and a prosperous 2012.
Welcome to our new customers receiving your first newsletter from us. We look forward to helping you for years and watch your business grow with our online/remote training and of course coming to you.
Paula, Rhondda, Lisa and Glenn have enjoyed working with you, training you and most importantly getting to know you.
CHRISTMAS AND HOLIDAY HOURS
The office will be closed from Friday 23rd December 2011 until Monday 16th January 2012. Excluding Public Holidays the message bank will be checked twice a day and emergency support by phone or remotely will be available.
We wish you well for the festive season and a prosperous 2012.
THROUGH THE EYES OF AN ACCOUNTANT by David Ivins
David Ivins is an accountant with a team of technology adopting accountants who love and recommend QuickBooks. He adds some great advice to this newsletter every issue.
Beware Your Christmas Bonus
Christmas is nearly here and you may be considering paying yourselves or your employees a well-earned bonus. If you, or your employees, are in this enviable position and choose to have this windfall gain put straight into superannuation, be careful not to contravene the age-based limits or much of it may be lost in tax.
The age-based limits apply to all superannuation contributions whether they are by way of the employer’s normal contributions, salary sacrifice into super or by additional contributions instead of taking bonuses in cash. They also apply to the self-employed.
Please note that contributions into a superannuation fund that is set up just to pay life insurance will also be counted.
Currently, if you are under 50 years of age the limit for all contributions into super is $25,000 per annum. If you are between 50 and 74 years of age the annual limit is $50,000.
Any excess contributions are taxed at 31.5%. That is on top of the 15% contributions tax, so effectively you lose 46.5% of any contributions over the age-based limit.
A number of our clients were caught by this last year so if you are considering what to do with your bonus, please check carefully how much will be paid into your super for the whole year.
Don’t forget that there is no extension to pay the December 2011 quarter superannuation contributions which must still be received by the fund no later than 28 January 2012. This is the case even though there is an extension to lodge your December 2011 BAS until 28 February 2012.
I wish you a safe and happy Christmas and some time to enjoy the good things in life – catching up with family and friends.
David Ivins
02 8824 8073
david@davidivins.com.au
Beware Your Christmas Bonus
Christmas is nearly here and you may be considering paying yourselves or your employees a well-earned bonus. If you, or your employees, are in this enviable position and choose to have this windfall gain put straight into superannuation, be careful not to contravene the age-based limits or much of it may be lost in tax.
The age-based limits apply to all superannuation contributions whether they are by way of the employer’s normal contributions, salary sacrifice into super or by additional contributions instead of taking bonuses in cash. They also apply to the self-employed.
Please note that contributions into a superannuation fund that is set up just to pay life insurance will also be counted.
Currently, if you are under 50 years of age the limit for all contributions into super is $25,000 per annum. If you are between 50 and 74 years of age the annual limit is $50,000.
Any excess contributions are taxed at 31.5%. That is on top of the 15% contributions tax, so effectively you lose 46.5% of any contributions over the age-based limit.
A number of our clients were caught by this last year so if you are considering what to do with your bonus, please check carefully how much will be paid into your super for the whole year.
Don’t forget that there is no extension to pay the December 2011 quarter superannuation contributions which must still be received by the fund no later than 28 January 2012. This is the case even though there is an extension to lodge your December 2011 BAS until 28 February 2012.
I wish you a safe and happy Christmas and some time to enjoy the good things in life – catching up with family and friends.
David Ivins
02 8824 8073
david@davidivins.com.au
NEW PRODUCT FOR INVENTORY
Inventory Management is often more complex than QuickBooks can handle. As the business operations grow sometimes the software doesn’t.
We are pleased to have partnered with Fishbowl, an add on module for inventory management that integrates with QuickBooks QBi and capable of multi warehousing, size colour, manufacturing and assemblies. It is distributed and supported locally and is an answer for all those stock questions that QuickBooks doesn’t answer.
It has been the number one product chosen for 10 years in the USA and is now fully functional with Australian QuickBooks.
1300 442 484 if you would like more info on this.
We are pleased to have partnered with Fishbowl, an add on module for inventory management that integrates with QuickBooks QBi and capable of multi warehousing, size colour, manufacturing and assemblies. It is distributed and supported locally and is an answer for all those stock questions that QuickBooks doesn’t answer.
It has been the number one product chosen for 10 years in the USA and is now fully functional with Australian QuickBooks.
1300 442 484 if you would like more info on this.
STAYING IN TOUCH
There are 2 links here that will keep you up to date with tips, the latest and great ideas
for your business using QuickBooks.
Follow us on Facebook https://www.facebook.com/#!/GR8KWIKBOOKS
Follow our blog http://gr8kwikbooks.blogspot.com/
Our YouTube channel with helpful videos will be going live in 2012.
for your business using QuickBooks.
Follow us on Facebook https://www.facebook.com/#!/GR8KWIKBOOKS
Follow our blog http://gr8kwikbooks.blogspot.com/
Our YouTube channel with helpful videos will be going live in 2012.
QUICKBOOKS ONLINE
Since being launched in 2009 more and more businesses are choosing to join the cloud revolution, in fact 12,000 users to date. So what are the pros and cons. Here is a brief look at taking your accounting into the cloud.
Advantages
Backups done automatically
Accountant can have access anytime so books are up to date and no messy copying and sending of files
It is a low yearly fee per user and you get the top of the range version of QuickBooks (Enterprise) with all features.
If you have more than a few users of QuickBooks you don’t need to setup and maintain a costly network.
Your consultant or Bookkeeper can help you live on the system without having to come on site.
It can be used on a Mac, ipad or iphone or an android smart phone.
Disadvantages
You rely on the internet for connection but in most areas that is now quite stable
You cannot at this stage link an external product to it like you can on your desktop version. This will change with future development.
Advantages
Backups done automatically
Accountant can have access anytime so books are up to date and no messy copying and sending of files
It is a low yearly fee per user and you get the top of the range version of QuickBooks (Enterprise) with all features.
If you have more than a few users of QuickBooks you don’t need to setup and maintain a costly network.
Your consultant or Bookkeeper can help you live on the system without having to come on site.
It can be used on a Mac, ipad or iphone or an android smart phone.
Disadvantages
You rely on the internet for connection but in most areas that is now quite stable
You cannot at this stage link an external product to it like you can on your desktop version. This will change with future development.
CLASSROOM TRAINING DATES
BOOK ANY Upcoming COURSE ANY date DURING January 2012 AND receive a $50.00 DISCOUNT
Starting 2012 we will be delivering Classroom training in Canberra as well, something we are excited about. Already people are enquiring or have booked in.
Classroom courses held in Parramatta and Canberra have been set for 2012, using the approved Reckon Training Manuals. Course details and the booking form can be found on the page “quickbooks training courses” on the website.
http://glennanthoney.com.au/quickbook-training-courses/
QuickBooks Certificate
Upcoming Dates
Parramatta
• 14 February 2012
• 13 March 2012
• 10 April 2012
• 15 May 2012
• 12 June 2012
Canberra
• 21 February 2012
• 17 April 2012
• 19 June 2012
QuickBooks Advanced Certificate
Upcoming Dates
Parramatta
• 15 February 2012
• 14 March 2012
• 11 April 2012
• 16 May 2012
• 13 June 2012
Canberra
• 22 February 2012
• 18 April 2012
• 20 June 2012
Paying Your Employees Using QuickBooks
Upcoming Dates
Parramatta
• 15 March 2012
• 17 May 2012
Canberra
• 19 April 2012
BAS and Financial Reporting Using QuickBooks
Upcoming Dates
Parramatta
• 16 February 2012
• 12 April 2012
• 14 June 2012
Canberra
• 23 February 2012
• 21 June 2012
Bookkeepers Certificate for QuickBooks 2 Day Course
Upcoming Dates
Parramatta Only at this stage
• 20 March 2012
• 21 March 2012
• 23 May 2012
• 24 May 2012
QuickBooks Certificate for Accountants Only at Parramatta
• 22 May 2012
Starting 2012 we will be delivering Classroom training in Canberra as well, something we are excited about. Already people are enquiring or have booked in.
Classroom courses held in Parramatta and Canberra have been set for 2012, using the approved Reckon Training Manuals. Course details and the booking form can be found on the page “quickbooks training courses” on the website.
http://glennanthoney.com.au/quickbook-training-courses/
QuickBooks Certificate
Upcoming Dates
Parramatta
• 14 February 2012
• 13 March 2012
• 10 April 2012
• 15 May 2012
• 12 June 2012
Canberra
• 21 February 2012
• 17 April 2012
• 19 June 2012
QuickBooks Advanced Certificate
Upcoming Dates
Parramatta
• 15 February 2012
• 14 March 2012
• 11 April 2012
• 16 May 2012
• 13 June 2012
Canberra
• 22 February 2012
• 18 April 2012
• 20 June 2012
Paying Your Employees Using QuickBooks
Upcoming Dates
Parramatta
• 15 March 2012
• 17 May 2012
Canberra
• 19 April 2012
BAS and Financial Reporting Using QuickBooks
Upcoming Dates
Parramatta
• 16 February 2012
• 12 April 2012
• 14 June 2012
Canberra
• 23 February 2012
• 21 June 2012
Bookkeepers Certificate for QuickBooks 2 Day Course
Upcoming Dates
Parramatta Only at this stage
• 20 March 2012
• 21 March 2012
• 23 May 2012
• 24 May 2012
QuickBooks Certificate for Accountants Only at Parramatta
• 22 May 2012
FAQ’s and TIPS
QuickBooks Tips
1
When you have any list open in QuickBooks, you can highlight any list element and hold down the CTRL and Q key at the same time. You will get a quick report for all transactions for that list element.
Example:
Open your Item List by clicking Lists – Items
Highlight the list element you want a quick report on.
Hold down the CTRL and Q key at the same time and the report will display
Set the date range to see the transactions you are looking for.
You can also see the associated history of any transaction by highlighting that line in the report and holding down the Ctrl and H key at the same time – try it, it saves you time and it is quick and easy!
2
Would you prefer to use keyboard short cuts in QuickBooks? Here are a few to start with: Ctrl+A - opens the Chart of Accounts Ctrl+F - opens the Find window Ctrl+W - opens the Write Cheques form Ctrl+I - opens the Create Invoice form Ctrl+T - opens the Memorised Transactions List
1
When you have any list open in QuickBooks, you can highlight any list element and hold down the CTRL and Q key at the same time. You will get a quick report for all transactions for that list element.
Example:
Open your Item List by clicking Lists – Items
Highlight the list element you want a quick report on.
Hold down the CTRL and Q key at the same time and the report will display
Set the date range to see the transactions you are looking for.
You can also see the associated history of any transaction by highlighting that line in the report and holding down the Ctrl and H key at the same time – try it, it saves you time and it is quick and easy!
2
Would you prefer to use keyboard short cuts in QuickBooks? Here are a few to start with: Ctrl+A - opens the Chart of Accounts Ctrl+F - opens the Find window Ctrl+W - opens the Write Cheques form Ctrl+I - opens the Create Invoice form Ctrl+T - opens the Memorised Transactions List
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