Wondering if everything is secure in your practice?
Something doesn't seem
quite right?
Isn't it better to check?
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Need
help understanding your financial reports?
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No, I was not giving a benediction.
It's always strange to have a photographer click away while I am speaking.
This last engagement, I realized just how animated I am.
I do engage the audience!
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During a recent phone call, a doctor suggested I have an
Ask The Expert Service.
Have questions about whether your systems & procedures are set up effectively? Whether you are doing all you can to help prevent embezzlement?
Call me: 888-994-3167
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This week's
blog was based on a really well done phishing email I received Tuesday.
Tis the season - beware!
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Every time I sing "all is calm, all is bright," I know it was many many years ago. I hope this season of celebration finds you wrapping up an amazing year and ready for some family time!
At the end of this email, I will tell you more about what to expect in 2017. But I did want to mention now that I will be communicating more with you. You shared your email address with me because you were wanting more content. Expect great things for 2017!
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True to the annual schedule, Intuit released the new 2017 QuickBooks software this fall. And I am happy to report, QuickBooks Pro desktop version is still an amazing robust financial software.
There were truly few changes that affect practices. Having only a few changes allows time to determine if anything needs to be added to either book, beyond the new 2017 screenshots.
The result? The new Getting The Most Out of QuickBooks 2017 In Your Practice book does have additional pages of system and procedures that are not in the prior books.
I evaluated what is taught and what you ask in the presentations. Then I reviewed both books to ensure the inclusion of that material. Most of the information had already been included. Some information has been reworded for clarity. And, additional information has been included due to ongoing questions and practice issues.
Here are a few reminders:
- Remember, because your practice software keeps track of the accounts receivable, you only need to track deposits in QuickBooks and all outgoing transactions. This isroughly only 15% of QuickBooks' capability. There is so much of QuickBooks that practices do NOT use. Therefore, for the new software to affect the 15% of what you do use, there would have to be some major changes, which hasn't happened in a couple of years. Before some readers get all negative, I honestly believe for a professional practice, it would impossible to make an amazing "not thought of before" change in the existing QuickBooks Pro - it is great the way it is.
- Because of the above, you only need to buy another version of the software, called upgrading, every three years. It is still important to get the QuickBooks updates, as many updates fix security issues or may actually add a new feature.
- I still do not recommend the online version. Some of the reason I do not includes the above - you only use 15% of what is available AND you only need to upgrade every three years. The average online monthly cost is $26.95. Costco price for QuickBooks Pro $189.99 for a three year software. In seven months, the software could be paid for with the online cost. With the cost of the QuickBooks Pro, there is an additional 29 months before needing to upgrade.
Many want online access for the very few times a year they may need to urgently pay an invoice. You can use Windows Remote Connection for free. Or get a subscription to Logmein and have access to all of your practice data, not just QuickBooks. And, by the way, you can create payroll online without using QuickBooks Online.
I use QuickBooks Online a few times a year to help Online clients. It is simply not as user friendly as the desktop version, definitely not as organized as the desktop version, and the reports are very limited to any customization. Every time, I am hopeful to see changes that would change my mind. Not yet.
Many practices do enjoy the benefit and ease of use with the QuickBooks Online version. Most of them were not prior QuickBooks Pro users. It does make it much easier to use if you have never used another software and do not know what you are missing.
So, a big welcome to QuickBooks 2017! Glad you could join us.
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Before You Hand Your QuickBooks Off To Your CPA...
..
.t
here are a few things you need to make sure are completed.
Are you sure the QuickBooks data file you will give to your CPA to process the practice's taxes is the most accurate financial picture of your practice?
Webinars are a great tool to share important content in a brief period of time, from the comfort of your own home or office.
Back by popular demand,
Before Handing Your QuickBooks Off To Your CPA webinar explores a practice's potential pitfalls in not providing all the information necessary to create taxes. I've seen many practices forget key components, not believing they were necessary to give to the CPA.
Learn how to provide more information than may be requested. The practice owner is essentially responsible for the tax filings of the practice and will be held accountable for any errors or omissions of the tax filings - not the CPA.
BUT, wait there's more. For your participation, you will receive a Year End Checklist to review your QuickBooks in
preparation for your CPA. Do not sabotage their work by not providing the information they need to do their very best job.
Participation is limited to ensure short relevant questions can be answered.
Live Webinar dates:
Tuesday, January 10 7pm to 8pm CST
[deadline to purchase is January 9]
Sign Up Now
Thursday, January 12 5pm to 6pm CST
[deadline to purchase is January 11]
Sign Up Now
Friday, January 13 1pm to 2pm CST
[deadline to purchase is January 12]
Sign Up Now
When you purchase the webinar date, you will be emailed information regarding how to join that webinar. One purchase equals one dial in. However, you may have multiple listeners on one call. Because of the size limitation, there are no date exchanges or refunds after purchase.
The webinar will be using QuickBooks Pro desktop version for demonstration. However, the information of what you need to review is applicable to the Mac or Online version as well.
This one hour webinar is affordable at $39.00.
Can you truly afford not to participate?
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Your Best Year Yet
My National Speaker Association North Texas Chapter's theme for this past year was
Your Best Year Yet. It stuck in my brain for the entire year and I liked it so much, I've adopted it again for 2017!
What do we need to do to make it our best year yet?
I turned 60 this year and one thing I know is that a great year is a year that has been sweat over, analyzed what works, gotten rid of what didn't work, and expounded on what did work.
This past year has certainly not been idle for me, though the newsletters have been few. The biggest news is the completion and print of the Matters of the Heart: A Journey in Caring For Aging Loved Ones book. I also began blogging every Wednesday in Wednesday's Cogitations about a variety of topics, some personal and some business.
The first part of the year, I created four professional marketing videos that are posted on my website. I have continued to hone my skills in fraud examination and speaking by learning from some of the best in both global businesses. I also closed the elearning site that I created in 2010. Though hard to close something I gave birth to, it was extremely difficult to keep current with 70 audiovisual clips.
It took work but the measurement of my best year are the lives that have been impacted. I realized more than ever this year that I truly do not care to do what I do if I am not making a difference doing it. Providing what you need is most important.
This was a return to my "grass roots," the reason I began this business in the first place. October 2017 will begin my 20th year in being a resource to dentist, doctors, veterinarians and chiropractors. And 2017 will truly be my best year yet.
I am continually blessed with ongoing recognition. The American Dental Association recognized me as a Financial Matter Expert in 2015. For the 2016-2017, I have been appointed as an ADA Consultant to the Council.
I just received the December's issue of Dentistry Today magazine where I am recognized as A Leader In Consulting since 2005 with the top speakers in Dentistry! I
am blessed to call so many of them my
friends.
I have two very timely additional books in process that I will let you know about soon. In the meantime,
how about you?
What are you planning to have your best year yet in 2017?
Stay tuned for January's newsletter, Out With The Old and On With The New - great ideas to start off the New Year.
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