Finding Industry Averages for Small Businesses to help with Benchmarking, Ratio Analysis or Planning
You can add value for your clients by providing reports with key financial ratios compared to industry averages. This benchmarking can help clients see how their business is doing compared to others and identify areas for improvement. Plus, it is a great way for you to deepen your relationship with the client enhancing your position as their trusted business advisor. In this post, I’ll show a couple of ways to get industry averages for free or some lower cost options if you choose.
QQube Version 5.1 Released
QQube™ 5.1 – the most complete data warehouse for QuickBooks – has been released.
According to founder Chuck Vigeant M.Ed., ‘this is the most efficient, most powerful release to date. We made over 60 improvements, additions, and fixes from version 5.0 including refresh algorithms that are up to 90% faster in certain cases. This was an ambitious agenda for the last two months, and we succeeded.’ ‘We were excited about the 5.0 release, but soon realized that we needed to make improvements to make it a better customer experience.’ Read more
QuickBooks Tip: Tie out the Profit & Loss by Job to the Profit & Loss Report
If you use QuickBooks for job costing, then you should assign a customer:job to each transaction (including admin or overhead as a job). However, sometimes transactions are not assigned a job. If you compare the standard Profit and Loss to the Profit and Loss by Job you may discover the totals do not agree. This quick video demonstrates how to compare the reports and identify transactions not assigned to a customer:job. Read more
The Definitive Guide to Custom Reporting, Business Analysis and Data Extraction for QuickBooks
The man who knows more about QuickBooks reporting and data extraction than anyone on the planet is has agreed to let us inside his brain and gain access to his experience. Don’t miss this!!!
Have you struggled to get that report out of QuickBooks that you can’t believe it doesn’t have? Do you want to learn how to get it done without a rocket science degree and a crew of programmers? Read more
QuickBooks Tip: Classifying Accounts for Statement of Cash Flow
The phase “Cash is King” emphasizes the importance of cash flow for a business. Insufficient cash flow can result in the failure of the business so it is important to monitor and manage cash flow. QuickBooks provides a Statement of Cash Flow report to help monitor cash flow for your business. QuickBooks classifies accounts into three categories of activities: operating, investing and financing as you can see on the report below. Read more
QuickBooks Tip: Applying Owner’s Time for Job Costing
Job costing is important to contractors, builders and many other types of small businesses such as plumbers, electricians, architects, landscapers, wedding planners, caterers and many others. When the business is a sole proprietor (or an LLC taxed as a sole proprietor), then the owner takes an Owner’s Draw instead of a paycheck. Thus, you cannot allocate the owner’s time to jobs via payroll. Instead, you can create a zero-dollar check to allocate the owner’s time (i.e. cost) to the job as follows: Read more
“71% of all Business Analysis is Still Done in Excel” – FREE Webinar to Learn about Pivot Tables
According to Gartner, Inc. “71% of all business analysis is still done in Excel.” Pivot tables provide the most powerful option to analyze business data from a variety of angles. However, many people are intimidated by Pivot tables since they have not learned about them yet. Actually, Pivot tables are easy to use as you will see in this FREE webinar. Read more
QQube Partnership Programs Announced – Great Opportunity for Accounting Professionals and Others
I want to share another opportunity to help you grow your business. CLEARIFY℠ founder Chuck Vigeant announced three new partnership programs that will allow accounting professionals, business consultants, accounting technology specialists and QuickBooks ProAdvisors to provision QQube™ technology according to their own business models. Read more
3 Great Resources: QQube, Scaling New Heights & Consultant’s Reference Guide
There are some tools and resources which I find valuable enough to share with you. I know many of you are really busy right now, but these 3 tools are something which you may find very helpful: QQube is an amazing new reporting tool, Scaling New Heights — a great conference for Intuit Advisors and The Sleeter Group’s Consultant’s Reference Guide. Read more
Custom QuickBooks reports are easier than ever with QQube
Do you find it challenging to get the information you need from QuickBooks? Are you tired of spending hours and hours trying to get a report you need? QQube by Clearify is a new tool which “allows you to create repor
ts & analysis in minutes – not hours or days. It will help those who have struggled, with kludgy cut & paste operations, ODBC drivers, & reporting tools that don’t do what you want. QQube is the brain child of CLEARIFY founder Chuck Vigeant – long considered the foremost expert on QuickBooks data for custom reporting & analysis purposes.” I had an opportunity to visit with CLEARIFY founder Chuck Vigeant, and asked him some questions regarding the release of their new reporting and analysis technology – QQube. Read more
QuickBooks Tip – Create a report of customers with no sales & add it to icon bar
QuickBooks FAQ: Is there a way to customize a standard report within QuickBooks to show clients (or customers) that have not purchased products/services within a certain time frame? Yes, you can create a custom summary QuickBooks report to show customers with no sales. Plus you can memorize the report to use in the future and even create an icon for it on the icon bar. Read more
QuickBooks Tip – Quick Report on Transactions
Using QuickBooks, how do I get a report of all invoices? How can I see the Sales Receipts (checks, bills, estimates, etc.) that I have entered into QuickBooks? You can get a report on transactions several ways, but I’ll share a quick and easy way to do it in QuickBooks. It is surprising how many people overlook the Transactions tab in the centers. Read more
SSARS 19 Changes and Sample Compilation Report Wording
The Statement on Standards for Accounting and Review Services no. 19 (SSARS 19), Compilation and Review Engagements includes some major changes for Certified Public Accountants (CPAs) who perform compilations and reviews. One change is the wording for compilation and review reports along with new documentation requirements (including engagement letters) and other changes. Read more
How to create a monthly Profit & Loss report in QuickBooks
Often, I see the question “how do I create a monthly Profit & Loss Statement in QuickBooks”. I thought I’d write a quick post to show you how to do it. You can use this same method on the Balance Sheet if you would like to see it monthly. Read more
Intuit does it again! Intuit Statement Writer 2011
Intuit® does it again. Intuit Statement Writer (ISW) was already a great tool for accounting professionals and was named an Awesome Add–On last fall by The Sleeter Group. Now, with suggestions, requests and feedback from accounting professionals, Intuit makes ISW 2011 even better. Read more
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