Setting up reminders in Quick Books
With our busy lives it’s hard to remember everything we have to do or every place we need to be. This can be especially true for small business. You have to wear many hats in your profession and sometimes it can be a bit overwhelming. Thank God for technology! Today, many businesses, including individuals, rely on technology to help keep them organized and focused. With items such as Palm, MS Office, and other technology oriented personal assistants, we are able to stay on top of our busy schedules.
In the realm of bookkeeping, many software programs have tools and add-ons to help keep you organized. For instance, Quick Books has a wonderful feature called “Reminders” which helps you to keep track of all the tasks you perform in the software. It shows pending items such as outstanding bills and customer invoices, items you need to act on, and also, as the name states, items you need to be reminded of. This feature will also posts notices or alerts about any QuickBooks business services that need your attention, such as software updates. This is an excellent tool for making sure that certain repetitive tasks are handled.
Setting up this feature is very simple to do.
Log into QuickBooks and open your company file
- Go to the Edit menu and click Preferences.
- In the Preferences window, click Reminders in the list on the left.
- Click the Company Preferences tab.
- For each type of task listed, choose a preference: Show summary, Show list or Don’t remind me.
- For date-driven events, enter the number of days in advance that you want QuickBooks to add a reminder to the list.
- To have the reminders window open every time you start QuickBooks, click the My Preferences tab and select the Show Reminders when opening a company file checkbox.
- Click OK.
At this point you are ready to use the list. On the company menu, choose “reminders”. Once here you can view, add, or modify existing reminders. Keep in mind, this feature is only as useful as the information you place in it. It would be a good practice to set this up at the start of your file, and each time a new event occurs, update it accordingly.
There we have it! Another Bookkeeping Success profile to help you manage your records effectively!
Partnering for your Success
Jacqueline Williams
Financial Strategist
Quick Boooks Quickie
Ever wonder how easy it is to post your transactions in Quick Books? Start your business the right way by setting up your books correctly in the beginning. Listen to our Bookkeeping 4 Success Radio Show, and hear how to set up your books in Quick Books effortlessly.
Family financial season of change
Life’s cycles are wonderful & mysterious. Throughout each season we experience the changes that the earth brings us in all its wonderment & splendor. With great expectation we prepare our households. Gathering and storing throughout the fall to prepare for the winter. Clearing and planting in preparation for the spring & summer. The understanding of these events will determine our mode of preparation for them.
Spring is a time of renewal. As we clear the clutter in our home we should also clear the clutter in our financial lives. With tax season fast approaching, this is the opportune time to review & organize all records. Set up categories for all your expenditures & file your receipts based on these categories in a tickler file. The best approach is to automate your process. There are various programs, such as Quicken, Peachtree, & Microsoft Accounting, which are very user friendly and require minimum to no accounting knowledge. To manage the input of your receipts even further, utilize software for expense management such as Neat Receipts. This product will streamline the entire process and is easily integrated with other programs.
Another important financial area to review would be insurance policies & retirement accounts. For your homeowner’s /renter’s policy, spring is a good time to take inventory, especially after the Christmas holiday purchases. If your policy does not provide a manual inventory spreadsheet, create one in Excel. It’s a good idea to update your inventory sheet quarterly, to cover purchases made throughout the year. Let’s not forget auto insurance. With summer fast approaching, this is the time to consider major repairs, in preparation for summer travel. Check your policy to make sure you have adequate coverage. If your vehicle is financed and will be paid off this year, you may consider changing from full coverage to only liability coverage. Consider factors such as the overall condition of your vehicle, listed drivers, & total mileage. A change in your premium could have a significant impact on your monthly budget. As for your retirement investments, the best practice is to review your investments monthly for performance, but try not to make changes to your portfolio more than on a quarterly basis. However, expect an annual review from your insurance agent or financial advisor. As experts in their fields, your Advisor will determine the best possible balance of securities in their corresponding industries. Your investment style & history, which is generally gathered prior to you initiating the account, is the basis of all decisions made by your Investment Advisor. A good Advisor will operate under your discretion and comfort level.
What about your taxes? Because this subject can be very expansive, I will only mention briefly some important points to help you manage the “mayhem” during this period. Most people operate under the mindset to file their taxes in a manner to produce the largest refund. This is not necessarily a good idea. Don’t depend on your tax refund to cover living expenses. That’s what a savings account is for. The IRS does not pay you interest for the money it refunds to you. Technically, you are giving the IRS an interest free loan throughout the year. Wouldn’t you rather have those funds available to use at your discretion? Maintaining an effective budget will help to alleviate the stress of unwelcomed financial disasters. So, here are some simple guidelines to follow that can minimize your refund. Monitor your exemptions claimed on your W-4. The more exemptions you claim, the less taxes your pay into the system, and vise versa. If you decide to claim more than required exemptions for your situation, only do it for 6 months. Therefore, every six months you should be reviewing your W-4 exemptions. This may help to level the playing field a little. Also, be sure to maximize your deductions & tax credits. Most people miss out on common items such as educational deductions, capital losses on investments, retirement contributions, etc. The best way to gain a little knowledge and insight into taxes is to purchase a tax manual from your local book store, such as the “Dummies” series. These guides are an easy read, and clearly break down all categories of deductions & tax credits possibly available.
Well, now that we’ve cleaned out the ember s of our attics, let’s get to work on our financial success!
Partnering for your success
Jacqueline E. Williams
Financial Strategist