When QuickBooks Attack!!!!

October 13, 2010 at 12:26 am Leave a comment

Handling payroll and bookkeeping can be a daunting task. Making mistakes that can be time-consuming will cost a business owner a significant amount of time and money to fix. Even more frightening are costly penalties that can result from errors in the use of QuickBooks.

Many companies use QuickBooks themselves while also consulting an outside firm to oversee their payroll, year-end and/or tax filing purposes. QuickBooks is a valuable tool, but it is just that—a tool that can be misused unintentionally. Unfortunately, repeated mistakes may not become apparent for months or years to come. Unfortunately these mistakes can be discovered by none other than our friends at the IRS. Relying on an outside company to detect and fix costly and frustrating errors is not the best use of their time and may cost you dearly. Errors can even impact your taxes or ability to obtain a loan.

With such a comprehensive set of tools available within QuickBooks, comes the responsibility to learn to use them wisely and carefully. Mistakes can occur in reporting, setting up new customers and vendors, backups, vendor billing, duplicate users, negative A/P, credit card and loan payments, and year-end summaries. Don’t let these scary mistakes haunt your company. Learn QuickBooks thoroughly and seek the advice of an outside company to provide additional oversight.

 

 

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Entry filed under: Bookkeeping, QuickBooks. Tags: , , , .

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