Payroll & QuickBooks®  Solutions for Growing Businesses
       Payroll with Choices         QuickBooks Training          Accounting Reconstruction

         November 2008 Newsletter
Due Dates:    November 3 = Annual SIMPLE IRA Employee Notification,
                                                                                             see October's Newsletter
                                      November 15 17 = Monthly Payroll Tax Deposits
                                      November 20 = Monthly Sales Tax


Preparing for Yearend -  
a) Reconcile all bank accounts, credit card accounts and loan accounts.  Resolve any discrepancies.  Look at uncleared deposits and checks. A duplicate?  Use QuickBooks' FIND feature to see if the $$ amount was entered twice.  Are manually written replacement checks needed?
b) Review Inventory   If Inventory is in QuickBooks, look at the "Inventory Valuation Summary" report [Reports-->Inventory].  Are quantities and values reasonable?  Begin to verify inventory to actual on hand amounts.  Adjustments are generally charged to "Cost of Goods Sold".
c) November's a great month to review the year-to-date financial reports.  We recommend an on-site or an on-line session for an overall review with us.  Or bring your laptop in to our office.  Then we recommend you forward your financial reports on to your tax preparer - perhaps estimated income tax payments should be adjusted.
              NOVEMBER SPECIAL  QuickBooks Clinic
               Bring yourself and your laptop to our office
                   for a one hour review, Special Nov. rate, $45.00
d) Prepare for yearend payroll and W2s:  Have us confirm your new employees' names and social security numbers.  Is their first name "Mandy" or "Amanda"?  Did they notify Social Security that they changed their last name?  Is their Social Security number entered correctly in your company?   Cost is about $10.00 and you might save a $50 fine.
                                                                                                                       November 3, 2008