At Tom Vignali CPA, Inc., we believe that accurate and timely financial data is critical to the success of any business. To ensure that our clients have the best possible tools available to review their financial activities, we became an Authorized Reseller and are a member of the Pro Advisor Program for QuickBooks™ Online. We can provide access to this program, and install, initialize, customize and train our clients on the best use of this program to meet the specific needs of their business. In many instances our clients allow us secure access to their QuickBooks™ Online data which is securely stored in the cloud to allow CPA review of all financial transactions processed, which allows us to correct any mistakes made in any of the data entry portals. Additionally, one of the many features of this program is to alert the CPA of any incorrect entries, which significantly reduces any potential accounting problems. You are able to access QuickBooks™ Online from your desktop, phone or tablet, so wherever you are, all of your financial data is available to you!
Following is a list of some of the basic features of QuickBooks™ Online. We would be more than willing to provide you with a more in-depth review and analysis of these features.
Linked to Bank Accounts
You can link to any or all of your bank accounts, importing data into your accounting records including all deposits, withdrawals, and fees.
Linked to Credit Card Accounts
You can link to any and all of your credit card accounts, allowing you to post payments directly into the correct expense categories.
A/R Invoicing and Payments
You can create customized customer invoices which can be processed electronically which can also be paid for electronically (via credit card, debit card, PayPal™, Square™, or bank transfer), or, you can opt to use the print and snail mail features. All invoice items are automatically sorted into the proper accounting categories. If the inventory module is being used, products being sold are automatically deducted from the inventory.
A/P Purchasing and Payments
Purchasing entries are simplistic and sorted into the proper accounting categories. If using the inventory module, inventory levels are adjusted accordingly. Additionally, the inventory module will alert you to “low inventory” levels and it can process a Purchase Order for you. You can manage all of your vendor accounts easily.
Financial Statements
At any point in time you will be able to generate numerous “real time” financial statements including: P&L, Balance Sheet, Cash Flow, A/R aging, A/P Aging, Customer Activity, Vendor Activity, Inventory, as well as many others. This provides management with timely and accurate critical financial information necessary to make key decisions. It also facilitates compliance with financial statement requests made by banks, creditors, and investors. Year-End financial reporting and tax reporting becomes a snap!!
Payroll
Although the payroll module allows you to process all of your payroll manually or electronically, we highly recommend the use of one of our preferred payroll processing companies due to the complexities regarding the ever-changing tax codes and regulations, benefit plans, retirement plans and other plans which are related to compensation packages. We do recommend use of the payroll module for tracking employees and their hours to generate the data needed for the payroll processing company.
Time Tracking
You are able to track billable hours from employees depending upon the types of devices you have synced to the program. This time tracking module also syncs to many 3rd party vendor programs. This is a valuable tool if you have employees “off-site” performing billable work.
Inventory
You are able to maintain an accurate data base of inventory, acquisition date, cost and sales price. This data can be imported from various other softwares. As sales are made, inventory is automatically adjusted, and minimum inventory levels can be pre-set to alert you when you need to re-order product and the module will actually generate a Purchase Order for you.
Estimates
You are able to create estimates on your desktop and, phone or tablet (if synced), and your customer is able to sign and accept your estimate on your phone or tablet and the estimate is automatically converted to an invoice. This is a great feature if you need to perform estimates on the road or away from your desktop. In-house processing can begin immediately!
At Tom Vignali CPA, Inc., we would be more than willing to discuss how you can use any or all of the modules of QuickBooks™ Online to provide you with the strategic edge necessary to give your company a competitive edge.
Contact Us:
Thomas W. Vignali CPA Inc.
118 Point Judith Road
Narragansett, RI 02882
T: (401) 415-0798
tom@tomvignalicpa.com
www.tomvignalicpa.com
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