Category: financial reporting

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Countdown to End of Life for QuickBooks 2016

Every year Intuit releases a new version of QuickBooks desktop software, enhancing functionality and adding features to keep the product useful in the modern world. As the program continues to move forward, keeping pace with newer operating systems and software conventions, the older technology and application models eventually expire. Without support and updates, key service features or service integrations, the end-of-life versions of QuickBooks become not only less functional, they become less secure and have a much greater potential for problems.

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The QuickBooks Desktop Discontinuation: May 31st is the sunset date for 2016 Versions

While Intuit frequently communicates with license holders via various mailings and in-product notifications, including notices about the discontinuation of the version, the message is often lost amid the annoying messages customers receive via email or as disrupting popups in the program. It is very important that users not miss this notification because it really means more than just a need to update the software. Most businesses have more invested than than just a software purchase, they also have their data and operation to consider.

The real investments a business makes when it adopts QuickBooks desktop are the business processes the software supports, the transaction, customer, vendor, job and product information kept in the system, and the financial and performance data that comes from all of that. People, processes and information are the building blocks of the business and losing any of it can be far costlier to the business than the cost of an annual software upgrade.

When do services for QuickBooks 2016 stop?

May 31, 2019 marks the end of access to all services for QuickBooks 2016 Desktop editions. This includes QuickBooks Desktop 2016 Pro, Premier, Enterprise Solutions and Accountant editions for Windows, and the 2016 Mac edition. The software will continue to function at an basic level after that date, but technical support will end and all integrated services will stop working with the software.

What does it means when Intuit says services for QuickBooks 2016 will stop?

Software updates, online support and certain other added functionality within QuickBooks is provided as service integrated with the desktop software. When support and integrated services are discontinued, it means that subscription or added service functionality is no longer available. Payroll services, online banking, online backup and live support are some of the integrated services that will stop working on May 31, 2019.

Businesses that don’t need payroll, online banking or other services with QuickBooks should still upgrade the software.

While the basic functionality of QuickBooks 2016 will continue to work beyond the discontinuation date, the security and compatibility of the system should remain as top considerations. A major aspect of product discontinuation is the loss of software updates and security updates in particular. When users of 2016 QuickBooks versions stop receiving critical security updates, it could leave the installation vulnerable in a variety of ways. Weaknesses in security protocols or password storage, or failure to update software to remain compatible with new versions of Office or Windows (or Mac OS) could not just render the software unworkable but can also lead to potential data corruption or leave private information visible to hackers.

Upgrade to a newer version of QuickBooks Desktop to continue use of payroll, online banking, online backup, support and updates. For Windows users, 2017, 2018 and 2019 versions continue to be supported, but 2019 becomes the only supported version for Mac. Intuit previously indicated that there wouldn’t be a new Mac version, so having a 2019 edition represents a big win for Mac users who wish to keep their QuickBooks compatible with newer Mac OS versions.

People, processes and data are reliant on the software that supports the activities that keep the business running. Central to retaining the value of your business information and operational processes is keeping the software supporting them up to date with the most current feature set, service integrations, and application and update support. After all, the incremental investments made to maintain important assets of the business tend to be less costly than recovering from lost data and reduced productivity due to failure of an unsupported system.

Joanie Mann Bunny FeetMake Sense?

J

 

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‘Tis the (Filing) Season – Time for W2s and 1099 Reporting

1099-santa-hatEvery year-end brings with it not just the holiday spirit, but also the underlying dread felt by small business owners – a creepy and back-of-your-neck hair-raising feeling associated with annual business tax reporting and filing. That old saying about “death and taxes” has a lot of validity to it; sometimes they feel like the same thing to a small business owner. And this is the filing season. Ho ho ho.

The reporting requirements for small businesses seem to be growing at a rapid pace, and business owners are struggling to find the information and tools that ease the adjustment to increasingly burdensome reporting and compliance. The IRS has implemented a number of measures to increase tax revenues and enforce compliance, including stricter 1099 reporting requirements. With information provided at both ends of the “transaction” it is easier to identify those discrepancies which trigger audits.   With this type of business intelligence, the IRS has developed a fairly strong weapon to combat non-compliance, so small business owners need to really pay attention (the IRS is).  If the feds are tooling up, then business owners should, too.

Just to add to the seasonal festivities, make sure you upgrade your accounting software in time to benefit from the right rules and forms. If you run a small business and keep most of your information on spreadsheets (still? really?), that’s OK because there are solutions available which draw the information from spreadsheets, eliminating the need to re-enter data. Seriously, though, you should consider using actual bookkeeping or accounting software.

It is also important to remember that payroll tax filing dates for W-2s and 1099 forms were changed for 2016 taxes, and these changes continue for 2017. The filing deadline for 2017 W-2s and 1099 forms (including Form 1099-MISC) is January 31, 2018, which is a month earlier than the pre-2017 filing date. Thankfully, the deadline for providing W-2 forms to employees and 1099-MISC forms to other workers for 2017 has not changed. This deadline is still January 31, 2018. 

Using a cloud-based service to file 1099s online should be something your business considers doing if it isn’t already. Because most services include form and feature updates, users don’t have to go looking for the right documents or worry that they are using an outdated form.  In an online or hosted solution, users benefit from updates without downloads and get stricter security around their data than would likely be present on their own PC.  As it relates to your accounting software, make sure it has the capabilities you need in this area and don’t settle for limited functionality.

Here are some features you’ll want to look for in your e-filing solution this year:

  • The ability to print and/or mail forms to recipients as well as e-filing forms directly with the IRS or SSA
  • Have Form 1096 or W-3 automatically calculated and transmitted electronically with the detail forms
  • Upload volumes of data with Excel templates or import from your accounting software (saves time and reduces input errors)
  • Store data securely and provide full access to filed forms for multiple years
  • Maintain payer and recipient records securely for use year after year.
  • Encrypt data upon submission and keep it encrypted throughout the entire process
  • Supports 1099 Corrections (should allow filing of corrected forms regardless of how the original form was filed)
  • Accountants, Bookkeepers and Tax Preparers should be able to set up multiple payers and file on behalf of many clients from a single account, even filing for all clients at once or via batch submission

Year-end tax filing, especially dealing with 1099s and W2s, is an arduous task for most small businesses and their professional service providers, yet it is one of those things that simply can’t be put off.  Where there is a single income tax return there could be literally hundreds of associated 1099s or W2s to file.  1099 filing in particular has become more of a focus as authorities crack down on contractor versus employer classifications and seek to develop easier identification of audit candidates (something every business owner wants to avoid).

The point of the discussion is that there are cloud-based tools which are highly useful, feature rich, and very affordable… and business owners and their accountants or bookkeepers would be wise to take a look rather than assuming that the general accounting software will do the trick this year and the next.  Remember that tax filing season is an annual event, and being able to rely on a consistently useful solution can make the season a bit merrier (or at least a little less stressful) for all.

jmbunnyfeetMake Sense?

J

Hi! I was looking for the Frangos.

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Business Data Storage in the Cloud – Accountex Report

The term “cloud” has been applied to all sorts of online or Internet-based application models, and there are a great many approaches to developing cloud-based services and solutions. What this translates to is a volume of options and possibilities for information storage, management, and access in the cloud.Understanding where information is stored, how it may be accessed, and how it might be transmitted to others becomes essential knowledge that business owners should have when they engage with any information technology (IT) solution or service. Yet the plethora of “simple, affordable, and instantly gratifying” services currently available on the web all but ensure that businesses will engage with one or more solutions that provide them with little or no information (much less control) over the placement and management of their data.

Source: Business Data Storage in the Cloud – Accountex Report

Read more about Compliance in the Cloud, and making sure your data doesn’t get lost or compromised, even when you use a hosting company…

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QuickBooks 2018 Updates and Enhancements

QuickBooks 2018: Changes You See and Updates You Can’t See

QuickBooks 2018 has been released, and there are a number of beneficial enhancements and changes to the application that many will find very useful.  Sometimes it is the little things – like a past-due stamp that can be printed on invoices when they are re-sent to a customer – that can make getting the work done just a bit easier. Being able to search the chart of accounts is another thing that doesn’t sound like a big deal, but becomes one when you just can’t remember the account number you’re looking for. Frequently having to scroll through the list of accounts is taking more of your time than you’d think it would.

For the most part, it looks like there are some nice and needed changes that come with QuickBooks 2018. These changes address some functionality and usability issues (like supporting multiple monitors) and are visible to the user.  There are also other important changes that come with QB 2018 editions that aren’t quite as visible.

All editions (Pro, Premier and Enterprise) in the US, Canada and UK got some common updates, including:

  • Multiple monitor support
  • Search in the Chart of Accounts
  • Cash/Accrual toggle on reports
  • Past Due Stamp
  • Keyboard shortcuts for copy/paste lines in transactions
  • Secure Webmail option

For folks using payroll, there are now useful reminders for payroll tax liabilities, and for accountant edition users there is now the ability to merge multiple vendor records.  An exciting feature for many users of QB Enterprise is improvement to the sales order fulfillment process, including support for mobile (un-tethered) barcode scanners.

The changes that remain less visible to the user are primarily component updates and security improvements.  Additional encryption for certain PII (personally identifiable information) fields, version updates of framework and database components, and reliance on Internet Explorer v11 are among the items addressed. While these are not visible changes that impact the program functionality directly, they are necessary to keep the product up to date with Windows platform and to modernize the security in the product. In particular, users should pay attention to the requirement for Internet Explorer v11.  While Microsoft continues to promote Edge as the power browser for Windows 10, it is Internet Explorer v11 that QuickBooks requires.

It is important to note that Intuit‘s support for 3rd party applications is sometimes impacted with QuickBooks updates, particularly when it comes to security, encryption and unattended access to QuickBooks data.  Changes made to how QuickBooks encrypts stored credentials (among other things) caused many 3rd party solutions to lose their ability to connect to and sync data with QuickBooks while unattended (like a middle of the night sync, when nobody else is working).  Many applications had to return to a user-attended sync process, where a user in QuickBooks had to manually initiate the sync which allows the application to connect to QuickBooks and run.  With the release of QuickBooks 2018 this issue remains, which means that you should check with your 3rd party software provider regarding any possible automation changes or additional configuration that might be required due to the update.

For those running QuickBooks in a server-based or hosted environment, there are a few additional considerations regarding some of the changes in QuickBooks 2018. Some of these items represent known technical limitations of working in a terminal server/RDS/hosted environment, and sometimes they’re limitations or restrictions based on the technology being used and how it is applied. It is in this area where the suggestion that hosted QuickBooks will work EXACTLY as the program does when locally installed is not entirely true.

Multiple monitor support, for example, may or may not be easily handled by your hosting provider or remote access solution.  In particular, if you access your hosted service as a Remote Desktop or Virtual Desktop, you may have only one actual Window (the remote desktop window) to work with.  Even if your hosted QuickBooks were to attempt to open multiple popup windows so you could move them to different monitors, you’ll still be limited to the dimensions of your remote desktop. If the remote desktop doesn’t span over multiple monitors, then the QuickBooks windows that open in the remote desktop window won’t either.

The option to keep a user logged in to QuickBooks is another item that may not be useful or workable in a hosted environment, and isn’t necessarily a great idea even if running QB on a local computer.  This option keeps the user logged in to the QB “instance” which can make working with lots of company files a bit faster and makes loading/unloading QB seem faster because it doesn’t really unload or shut down.  While it may be convenient to eliminate the wait times during these login processes, the offset in security risk and problematic application functionality may be higher.  Leaving a user connected to QB for a fast login means that an unattended PC becomes a vulnerability as someone could access the app and files without having to enter credentials every time.  In a hosted environment, the functionality tends to leave QuickBooks running in a user session, often causing the user to be unable to launch QuickBooks if they log off and back on to the host system (getting the message that QuickBooks is already running or the company file is already open).

Support for 3rd party integrations varies in hosting environments, too, but the granting of administrative permissions to users is largely consistent: users do not get administrative permissions. This means that some applications which require Windows administrator permissions to run cannot be easily handled in a hosted delivery.  Additionally, applications that run as services on the computer, and particularly those with controls accessible via the task manager, are difficult to manage in a hosted environment because users are generally not able to access the task manager on the machine to start or stop running services.

Among the most challenging items to support in a hosted environment are mobile and handheld scanning devices.  Mobile scanning devices have become essential tools for inventory and product management, providing users with the ability to rapidly access item information by simply scanning a barcode.  Manually keying in data increases the potential for errors, but also requires a machine with a keyboard be nearby. With mobile scanners, workers are able to input item information regardless of whether they have a computer nearby or not (which is often the case in a warehouse or out on the shop or store floor). The software sees the barcode scanner input as though the data were typed in, which eliminates input errors and failed lookups by ensuring the item number is correctly entered every time.

Where the challenge with a hosted solution comes to play is in communicating between the hosted software (QuickBooks in this case) and the scanner device.  Usually, a scanner must be able to “see” the computer running QuickBooks on the local network.  The scanning device, like a networked printer, is able to communicate directly with the PC on the network so it is able to work with the software running on the PC.  When the QuickBooks software is running on the hosting provider’s computers, the mobile scanners in your business location aren’t able to “see” the host computers on the local network so they may not be able to communicate.

The time for software upgrades is also the time to take a look at how you’re implementing the software to ensure that your business has the most effective and easy to manage system possible. Rather than simply installing the new version on top of the old, consider whether your systems and software might be handled in a more cost efficient and useful manner.

If you’re installing the new QuickBooks editions in-house, maybe it makes sense to take a look at doing a server-based approach, which reduces the number of software installs required, centralizes the access and applications which makes managing the system easier, and creates a single system to back up and administer.

If you’re looking to eliminate the burdens of installing and maintaining your software, backing up your systems and dealing with hardware issues, moving to a managed hosting solution may be the right answer.

Software upgrade time is the right time to explore these options, giving your business the opportunity to test out new delivery models and services without impacting the production system.  There is always some element of risk in updating applications, so it is important to make sure things are ready before starting the process. Make sure all systems are fully backed up, and make sure you have the tools necessary to re-install the old versions of your applications just in case there are changes you can’t work with or problems you didn’t expect. If you’re not sure the best way to approach upgrading your QuickBooks system, contact me and we’ll find the right answer together.

Make Sense?

J

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Improving the Business of Art: Making Beautiful Business Decisions

There is a lot more to managing and maintaining an art collection than simply collecting.  In the art business, knowing where something came from, how it got to where it is now (and what it cost to get there), and keeping track of it thereafter requires software and systems to store and manage the information.  A professional art collection management solution will do much more than simply keep an inventory list of items.  This solution must store all the relevant information about the work as well as gather information while facilitating the various business processes relating to activities around the work. The first step to improvement is ensuring all the processes are being facilitated.

Acquiring the item, transporting the item, preparing the item, showing the item, maintaining the item, selling the item… all of these business activities performed must not just be accounted for, they must relate back to the work of art and become part of its historical record. Art tends to move around. Traveling from collector to collector or to different galleries, works of art may change location and ownership or custodial care frequently.  The origin of a work and the tracked purchase history, as well as the history of placements is among the critical information to be stored with each item. This most valuable data is part of the legacy of the work that any professional system should address. If information is power, then better retention and management of information regarding a work makes the entire collection stronger.

The location or exhibition of a work, its purchase history, the related museum and contact records – all this and more must be maintained and managed with each and every item in a collection.  Essential data such as provenance, condition and value is certainly kept for each work, but the key to making a truly useful system for collectors and artists both is the ability to get all the needed data in a single view or report.

Having the inventory information available for invoicing and reporting is one thing, but also being able to connect or identify individual works and collections with relevant contacts is surprisingly valuable. Tracking other information items like costs associated with shipping or framing, or storing both an appraised value as well as an insured value, provides for a comprehensive record of the work and its properties and makes forms and documents preparation not only more accurate but more efficient and useful, too.

Art businesses are like many other “product”-based businesses in that they have e-commerce needs, they build websites to show off their catalogue, they use mobile applications to display items, and they find much higher efficiency and agility when the websites and mobile applications work with the same real-time inventory data that the rest of the system works with.  The goal is to achieve measurable results through improved efficiencies, and that comes from improved information management and integrated systems.  Centralized computing models and connected cloud services establish the foundation.

Cloud hosting, remote access and mobile technologies, and location-based solutions are all part of the package for businesses involved in the business of art these days.  Implementing a hosting solution which enable anytime/anywhere access to business applications and information is often the first key to unlocking the better and more efficient art business.

Whether it is collecting, selling or showing, users involved in the business of art need secure access to all their information whether they’re in the office or not so they have the data needed to support making beautifully intelligent business decisions when it matters most. The rest is just pretty pictures.

Make Sense?

J

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Mobility Solutions to Support the Booming Home Health Services Market

The market for home health care services is growing rapidly and is not likely to slow any time soon. The expanding need is due in large part to the aging of the baby boomers, those born between 1946 and ‘64.  The boomers were once the nation’s largest living generation, defined by a notable increase in births in the United States following World War II. As this generation ages, it is creating a boom of sorts in the home health services industry.

Roughly 10,000 baby boomers turn 65 every day, and increasingly these seniors wish to continue living in their own homes rather than being moved to nursing homes or assisted living facilities.   According to AARP, nearly 90 percent of seniors want to stay in their own homes as they age, referred to as “aging in place.” Most seniors (up to 82 percent) would prefer to stay in their homes even as they need daily assistance or ongoing health care.  Few seniors say they would prefer to move to a care facility, and even fewer identify living with extended family as a desirable option.

The rate of home ownership among boomers is higher than with the rest of the population today, which is one of the primary reasons for increased demands for home care services.  Reports reflect that 81% of seniors today own their own homes, compared to 68% for the rest of the population. The majority of these seniors live alone or with a spouse – we’ve already established that living with extended family isn’t a frequent choice, possibly due at least in part to reduced home ownership rates. There are also suggestions that the reduced economic status of later generations has similarly reduced the capacity for extended families providing the long-term care for their seniors.

Projected to double by the year 2050, the number of Americans requiring daily help with living at home is expected to grow from the current 12 million to 27 million.  Older adults will make up almost 20 percent of the population, if not more.

These and other factors are driving rapid growth and expansion in the home health care field. Projected job growth for home health providers and personal care aids is expected to reach a whopping 70 percent by 2020. Larger than any other occupation grouping in the country, direct care workforce is projected to exceed teachers from kindergarten through high school (3.9 million), all law enforce and public safety workers (3.7 million), and registered nurses (3.4 million). Between 2010 and 2020, the fastest growing occupations in the country are projected to be Personal Care Aides and Home Health Aides.

Home health care businesses providing in-home senior care, hospital after-care, veteran care and numerous other specialized and general services are supported by a number of specialized software solutions designed to meet the specific needs of this segment of the healthcare industry.  The software used to support the business generally includes specific functionality for managing client and patient records, caregiver and provider information, scheduling and dispatch, payroll and HR, billing, and other back office and accounting processes.

Many of the industry-specific solutions available on the market address different or unique aspects of operating the home health care business, integrating data from their system with separate accounting and finance applications (such as QuickBooks desktop editions) for the rest of the functionality needed.  This allows the developer of the line of business application to focus on the valuable features and capabilities that will make the practice more efficient, compliant and profitable, leaving general accounting processes (payroll, accounts payable, general ledger and reporting) to the accounting software.

With greater frequency, the applications servicing the home health care industry are SaaS solutions, crafted with online access and mobility in mind.  This industry in particular has a specific need for remote and mobile access to information, as it is a “field service” operation at its core with healthcare rolled in.  The requirements to manage not just scheduling and services, but to deal with compliance, privacy and other factors involved with healthcare information complicates matters, placing an additional focus on the security and mode of access to the software and information.

Businesses using solutions such as Kinnser ADL, Shoshana Rosemark, Kaleida eRSP and Generations Homecare System rely on the software to streamline their operations.  Not only designed to support a remote and mobile workforce, these application services also provide business owners and managers with the ability to access essential business data at any time.  At issue is the rest of the software and systems which support the business operation and its processes.  Word and Excel or other productivity tools are almost certainly used at some level, and QuickBooks is in use, too.  These applications and their data typically reside on the desktop computer or local network.  As desktop applications, these solutions deliver the best power and performance for the business in terms of features and usability.  While some users may consider moving to web-based versions of these products, those who favor performance and functionality over framework often return to the feature-rich desktop applications that do the full job required.

In order to give business owners and remote workers the access they need to desktop applications and data, secure remote access solutions are required.  When the software and systems reside in the locked office of the business, the people operating outside aren’t usually able to access them in a way that is useful – or useful for more than one person at a time.  Remote control solutions that broker access to a PC cannot provide the multi-user support, application security or overall performance that most businesses require.  Attempts to implement simple RDS solutions or use similar products to create access often expose the business to unnecessary risk and limited capability while introducing heavy technical and licensing expenses.

With an offsite option, where the applications and data reside with the commercial hosting provider, business owners and line managers benefit from being allowed to focus on operations and not on managing the underlying software and systems. The business outsources the provisioning, management and protection of primary IT resources to support users, software and data, but the business should retain the capability to administer their own cloud as personnel changes impacting information access can occur at any time.

Whether their software and data are hosted on-site with existing equipment or offsite with managed hosting, home health care businesses need to have an easy-to-use solution for administration of user accounts, application access and secure filespaces.  For the home health care business, this is critical functionality that can mean the difference between spending too much time in the office handling general business and software matters versus meeting with clients and managing caregivers and revenue-generating activities.  In a fast moving, fast growing and highly mobile business, getting to information at anytime from anywhere using any device means being able to meet booming business demand.

Make Sense?

J

https://www.census.gov/newsroom/press-releases/2014/cb14-84.html https://www.ioaging.org/aging-in-america http://www.pewresearch.org/fact-tank/2016/04/25/millennials-overtake-baby-boomers/ http://www.iyhusa.com/AginginPlaceFacts-Data.htm http://economistsoutlook.blogs.realtor.org/2012/01/13/homeowners-by-age/