Customize QuickBooks’ Reports, Make Better Business Decisions

The QBC: QuickBooks® Client Newsletter

QuickBooks simplifies and speeds up your daily accounting work, but you’re missing out on valuable insight if you don’t tailor your report data.

Do you remember why you started using QuickBooks? You may have simply wanted to produce sales forms and record payments electronically. Gradually, you expanded your use of the software, perhaps paying and tracking bills through it and keeping an eagle eye on your inventory levels. Certainly, you’ve run at least some of the pre-built report templates offered by all versions of QuickBooks since their inception.

QuickBooks’ automation of your daily bookkeeping tasks has undoubtedly served you well. But that’s merely limited use; now it’s time to take advantage of QuickBooks’ greatest strength: customizable reports.

One of the rewards for diligently entering all of your accounting information is a better grasp of your company’s financial performance to date. That insight ultimately leads to better business decisions that can contribute to your future growth and success.

QBCSeptember2014Image1Figure 1: QuickBooks’ Report Center can help you learn about what each report is designed to tell you. But smart customization requires deeper insight.

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Insero & Company Named one of the 2014 Best Accounting Firms to Work for

Insero & Company CPAs, P.C. was recently named as one of the 2014 Accounting Today’s Best Accounting Firms to Work for. Accounting Today has partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees. Insero is the only firm in New York State to have been named to this year’s list.

“This is the third straight year in which Insero has been named to the list, and everyone in the firm is very proud of this accomplishment,” said Nancy Catarisano, managing partner. “We are looking forward to reviewing the input from the survey and carrying on our tradition of making the firm an even greater place to work.”

Our Partners

This survey and awards program is designed to identify, recognize and honor the best employers in the accounting industry, benefiting the industry’s economy, workforce and businesses. The list is made up of 100 companies.

Companies from across the United States entered the two-part survey process to determine Accounting Today’s Best Accounting Firms to Work for. The first part consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process, analyzed the data and determined the final ranking, which will be announced in early November at an awards presentation in Boca Raton, Florida.

ACT_BestFirmstoWorkFor2014

For more information on Accounting Today’s Best Accounting Firms to Work for program, visit www.BestAccountingFirmsToWorkFor.com.

Rochester-based Insero & Company CPAs, P.C. is one of the region’s premier accounting and business advisory practices serving western, upstate and the southern tier of New York. A full-service public accounting firm with tax, audit and outsource accounting practices, Insero specializes in working with small businesses and middle market companies, employee benefit plan audits, and outsourced and virtual accounting services. For more information, visit www.inserocpa.com.

7 Things All CFOs Should Know About Cyber Security

Join us for the third installment of Insero & Company’s Accounting & Finance Education Series, designed for business owners, management, and accounting and finance professionals. Each passing year produces new challenges and risks for corporate cyber security. Michael Montagliano, Chief Technologist of IV4 will identify trends that demonstrate a change in approach to cyber standards that will necessitate organizations to take stronger actions and safeguards to protect against financial, legal, and intellectual property theft exploitation.

CPE Series

Click Here for More Information and Registration

When: Tuesday, September 23, 2014, 8am-12pm
Where: Locust Hill Country Club, 2000 Jefferson Road, Pittsford, NY 14534
Cost: $30 per participant ($25 per participant through September 9th with Early Bird Discount)
Presented By: Michael Montagliano

To receive updates on future events, please join our mailing list.

A Tour through QuickBooks' Payroll Setup Tool

The QBC: QuickBooks® Client Newsletter

Getting QuickBooks ready to process payroll is a complex, time-consuming process. Here’s what you can expect.

Payday. You look forward to it when you’re young and working at your first part-time job.

But as a grown-up who needs to start processing payroll for your employees, you probably anticipate it in a different way, perhaps even with a sense of dread. QuickBooks handles the real grunt work once you’ve done the initial setup, but those early hours you spend preparing to print your first paycheck can be challenging.

Fortunately, QuickBooks’ payroll setup tool can guide you through the process. Once you’ve signed up for payroll, open the Employees menu and select Payroll Setup.

QuickBooks Payroll SetupFigure 1: The QuickBooks Payroll Setup tool tells you’ll what information you need to supply in order to start paying employees.

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Ethics

Join us for the second installment of Insero & Company’s Accounting & Finance Education Series as we take an in-depth look at ethical issues facing accountants and business professionals today. This course satisfies the New York State Professional Ethics requirement for Certified Public Accountants.

CPE Series

When: Tuesday, August 12, 2014, 8am-12pm
Where: Locust Hill Country Club, 2000 Jefferson Road, Pittsford, NY 14534
Cost: $60 per participant ($50 per participant through July 29th with Early Bird Discount)
Presented By: Presented by Heidi Tribunella, MS, CPA and Dr. Thomas Tribunella, CPA

To receive updates on future events, please join our mailing list.

5th Annual Tax Update

Join us for the latest IRS and NYS initiatives including an update on IRS audit procedures and current audit focus areas, NYS tax reform (estate tax, credits, etc.), and a few topics relevant to businesses operating in other New England states.

CPE Series

Click Here for More Information and Registration

When: Tuesday, June 17, 2014, 8am-10am
Where: Locust Hill Country Club, 2000 Jefferson Road, Pittsford, NY 14534
Cost: $30 per person
Presented By: Presented by Harlan J. Kwiatek, CPA, JD, LLM, Partner – New York, State and Local Tax, McGladrey LLP

To receive updates on future events, please join our mailing list.

Estate Planning Tip: Grantor Trust Information Reporting Requirements

Trustees of grantor trusts need to be aware of additional expenses associated with meeting information reporting requirements.

Grantor trusts are disregarded for tax purposes and are commonly used in many estate plans, but they can be confusing. Many trustees believe that since the trust is disregarded for tax purposes it does not have any information reporting requirements. However, the trustee is required to report the items of income, expense, and credit to the IRS and to the grantor of the trust.

Man Filling out Tax Form (more…)