- Is your bookkeeper certified QuickBooks ProAdvisor?
- Is your bookkeeper a member of AIPB, the American Institute of Professional Bookkeepers?
- Is your bookkeeper a member of NACPB, the National Association of of Certified Public Bookkeepers?
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- Is your bookkeeper sending your sensitive and confidential financial
information by email rather than with military-grade encryption methods
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Our bookkeeping firm offers a wide array of bookkeeping services
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Phone: 856-803-4651
Email:Kathryn@TiffanyAccounting.com
Web: http://www.TiffanyAccounting.com
Please contact Kathryn for more information and to schedule a free consultation.
By Gene Marks
Forbes
Besides Forbes, Gene Marks writes daily for The New York Times and weekly for Inc.com.
Believe it or not, your company is about to be part of an enormous wave of change in the next few years.
That’s because, if you’re like most small and medium sized businesses, you’re likely using an on-premise accounting application. And most likely that on-premise solution is QuickBooks. QuickBooks is by far the most popular accounting application for SMBs and deservedly so – it’s full featured, easy to use and well supported by Intuit. My company is an Intuit partner. We sell QuickBooks. But this year we’re going to look into selling other products as well. Why? Because as good as QuickBooks is, I believe that many of my clients are going to dump it starting this year and over the next few years. You too.
That’s because the cloud has caught up to the accounting world. And there are many competitors to QuickBooks standing by to pounce.
My consulting firm serves about 600 active companies. More than 90% of them currently use an on-premise accounting (or financial management or Enterprise Resource Planning/ERP) application. Isn’t it ridiculously obvious that within the next few years just about all of those companies will be using a cloud-based application instead? Of course it is. I’ve watched the enormous growth of software-as-a-service applications for customer relationship management, human resources and payroll. I’ve noticed the faster performance. I’ve witnessed their ease of access from tablets and mini-laptops and even smartphones. I’ve watched companies move more and more of their in-house systems to hosted ones, eliminating their servers and IT infrastructure. And I’ve seen my own clients, small business owners who look at any new relationship or technology with a wary eye, grow more comfortable letting other companies handle their data on managed servers over the past few years. We admit that though no one’s infallible, the security that they provide are better than our own. The environment is perfect for cloud based accounting applications.
And it’s a perfect environment for software developers too. “Most of the large software companies aren’t putting many resources into on-premise solutions any more,” Brian Jacobs, a partner at venture capital firm Emergence Capital told me recently. “They are basically pushing their customers into a software-as-a-service environment.” This is true. Emergence Capital invests in cloud based business applications and Jacobs believes the market is in its infancy. Ask anyone at Microsoft, Sage, Oracle or SAP and they’ll tell you what the guys at Salesforce.com have been saying for years: the cloud is the future for them. It’s a more profitable and more productive business model for a software company to distribute their products. “There are so many advantages of a cloud solution that I personally don’t see how these on-premise systems can move into the future,” said Rob Reid, CEO of Intacct, an online financial management application. “VCs are not investing in premise software companies any more.”
Which brings me back to QuickBooks. In the next few years it’s inevitable that you’re going to replace your on-premise QuickBooks system for something cloud-based. You won’t have much of a choice. And you’re going to take that opportunity to look around. And you’re going to discover there are some interesting alternatives.
There’s Xero, which just raised $150 million in October. And Intacct, which has received multiple rounds of financing over the past few years. There’s FreshBooks. There’s NetSuite and of course there’s QuickBooks Online. There are others but these, in my opinion, are the big players right now in the cloud accounting/ERP market. To oversimplify, Xero, FreshBooks and QuickBooks Online are arguably geared to the basic bookkeeping/invoicing/bill-paying customer – the startup, the very small micro-business, the mom and pop. Intacct and NetSuite are targeting the next level – those companies that employ controllers or CFOs, are growing, have multiple users and need advanced tools like sales order processing, purchase order, inventory and warehouse management, workflows, automation and more complex reporting for cash flow and consolidations.
These applications have been built from the ground up and support a better, more flexible web-based architecture. Smelling the opportunity, resellers and partners for these products (like me) are popping up everywhere. Migration tools to move away from QuickBooks are available. Deals have been struck to integrate these products with other popular online services and collaboration tools like Dropbox, Zoho, PayPal and Bill.com.
So what will happen? Many current QuickBooks customers (perhaps you?) who are frustrated with the software’s older architecture but have suffered with it because they/you did not feel the need (or were just too lazy) to change will now be forced to change in the next few years. And they/you will be looking at other alternatives. And, for the first time in a long time, there are many great other options to consider. “50% of the customers we are getting are coming from QuickBooks,” Intacct’s Reid told me. “And we’re expecting a tornado wave of activity in the next few years.” The company has experienced a 150% growth in bookings over the past year alone.
So be prepared: maybe this year, but certainly during the next few years you will be part of this enormous trend. That’s a certainty. Will you be one of the many who decide to dump QuickBooks?
Source: http://www.forbes.com
How have you found QuickBooks useful in running your small business?
Elder financial abuse
Researchers analyzed media reports from April through June 2010, and pinpointed 314 unduplicated reports of elder financial abuse that included detailed information:
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Certified Professional Bookkeeper and Certified QuickBooks ProAdvisor
Voorhees, NJ
856-803-4651
http://www.TiffanyAccounting.com
Kathryn@TiffanyAccounting.com
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Member of the American Institute of Professional Bookkeepers, National
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A Custer County woman accused of stealing thousands of dollars over several years from a construction business she was a partner in is facing two felony charges.
Custer County prosecutors have charged Rashell Berdahl-Zumpf, who was responsible for the business's bookkeeping, with felony theft and forgery.
She remains free without bond pending a hearing Feb. 4 in Custer County District Court, according to the county attorney's office.
Charging documents state that Berdahl-Zumpf and Warren Scheeler went into business with Jeremy Pyle in April 2009 under the name Pyle Construction. Berdahl-Zumpf and Scheeler were each 25 percent shareholders and Pyle owned 50 percent of the business.
After receiving complaints of non-payment from vendors, Pyle took the company’s bookkeeping records to a certified accountant, who found “numerous discrepancies” dating back to when the business was founded in 2009, the documents say.
The accountant found that Berdahl-Zumpf’s records, maintained using QuickBooks, indicated that bills were being paid on time, but in reality she was paying the checks to herself or to Scheeler, according to the documents.
One check documented in QuickBooks as being paid to a vendor in the amount of $73.69 cleared the bank as written to Berdahl-Zumpf in the amount of $3,000, the documents state. Another check that was documented as a payment of $24.75 to a vendor cleared the bank as a written to Scheeler for $3,000.
Scheeler has not been charged, according to the county attorney's office.
The accountant found many other discrepancies, including that Pyle hadn't received fair compensation for his share of the business, the court records say.
Pyle could not be reached for comment.
The Custer County Attorney’s Office declined to say how much money may have been stolen from the business, but the discrepancies listed in the affidavit total more than $15,000.
http://billingsgazette.com
The former chief financial officer of a Larchmont moving company who has been accused of embezzling $5.7 million and spending the money on collectible coins, artwork by Thomas Kinkade and Connecticut state income and property taxes, has been indicted in federal court.
Gregg Pierleoni, 59, of New Fairfield, Conn., left Collins Brothers Moving Corp. in April, after which his successor discovered broad evidence of theft at the company, where Pierleoni had worked for 26 years, according to a complaint unsealed Oct. 16 in U.S. District Court in White Plains. From 2006 to the time he left, Pierleoni, through a series of account transfers, used company credit cards to pay for a wide range of personal expenses, according to the complaint.
The expenses ranged from the extravagant — including $590,000 for coins from the New York Mint, $40,000 in jewelry and $136,000 for artwork from a Manhattan fine-art photographer — to the mundane, like home-equity loan payments.
Pierleoni met with investigators after the thefts were uncovered, admitted taking $500,000 in company funds in the prior two years and that he had been living beyond his means for several years, according to the complaint. He later said he had sold the coins and some of the artwork for a fraction of what he had paid and against the advice of his lawyer, apparently because of cash-flow issues.
Pierleoni was first interviewed by FBI agents in July; he met with them again Oct. 7 and was taken into custody nine days later.
On Thursday, an indictment was filed in U.S. District Court in White Plains charging Pierleoni with one count of wire fraud and one count of mail fraud, crimes that could put him behind bars for up to 40 years.
He remains free on $750,000 bail. Neither Pierleoni nor his lawyer could be reached for comment.
John Bailey, Collins Brothers’ lawyer, declined to elaborate much on the allegations in October, citing the ongoing legal process, but said that “in excess of” $5.7 million was involved and that the company hoped to recoup some of the money through criminal forfeiture proceedings.
U.S. Attorney Preet Bharara said that Pierleoni “abused the trust” of his employers.
“He now faces having to pay the real price for that lifestyle,” Bharara said.
http://www.lohud.com
The Wall Street Journal
By Eric Morath
Updated Jan. 2, 2014 11:14 a.m. ET
WASHINGTON—The number of people filing for new unemployment compensation fell slightly last week, while thousands of others faced the loss of extended benefits.
Initial claims for jobless benefits, a measure of layoffs, decreased by 2,000 to a seasonally adjusted 339,000 in the week ended Dec. 28, the Labor Department said Thursday.
Economists surveyed by Dow Jones expected 345,000 new claims for the week. The number of claims for the prior week was revised up to 341,000 from 338,000.
The four-week moving average of claims, which evens out choppy weekly data, rose by 8,500 to 357,250. Despite the gain, the level is still consistent with a modestly improving labor market.
Recent data suggests "layoffs probably haven't budged much over the past month," Royal Bank of Scotland economist Guy Berger wrote in a note to clients. However, he was cautious about reading too much into the figures.
The number of claims around the winter holiday season tends to be volatile. Holidays and big swings in unadjusted data toward the end of the year complicate seasonal adjustments for jobless claims. "We will probably have to wait until after the Martin Luther King Day holiday, toward the end of January, before we start getting clean initial claims data again," Mr. Berger wrote.
A Labor Department analyst said there was nothing unusual about the latest data and that all states reported figures for the Christmas week.
Meanwhile, Thursday's report showed 1.39 million people received special extended benefits during the Dec. 14 week under a federal program put in place in 2008. Those unadjusted figures are reported with a two-week lag.
Recipients in the program exhausted the roughly 26 weeks of unemployment benefits most states provide. The number of beneficiaries in the program declined by about 675,000 from a year earlier. The program expired last week despite President Barack Obama's support for an extension. It is possible lawmakers could reinstate the benefits when they return from holiday recess.
The number of continuing unemployment benefit claims in regular state programs fell by 98,000 to a seasonally adjusted 2,833,000 in the week ended Dec. 21.
Broadly, the labor market showed signs of improvement late in 2013. In November, U.S. payrolls rose by a seasonally adjusted 203,000, the Labor Department said. The job growth came in higher-paying sectors such as manufacturing and health care, in addition to retail and restaurant jobs, which had been growing steadily.
The December jobs report is scheduled for release Jan. 10.
The Federal Reserve pointed to the improving labor market as evidence the economy was strong enough for the central bank to start winding down its bond-buying program. The Fed said last month that it would reduce the size of purchases by $10 billion a month, taking a small first step away from a policy designed to boost economic growth.
Source: http://online.wsj.com
We're a bookkeeping firm in Voorhees, NJ - serving small to medium sized
businesses. We can serve your business as little or as often as you
need and accommodate whatever your bookkeeping needs may be. Please
visit our website to learn about our bookkeeping services here in New
Jersey! If you're looking for a reliable, professional, knowledgeable
and friendly bookkeeping service then we're your answer. We can clean
as well as maintain books for your business - no business is too small,
we can come in as little or as often as you need. Check out our
website: http://www.TiffanyAccounting.com
Please call us for a free consultation!
Bookkeeping/Accounting/Bookkeeping Services:
- Balance sheet
- Income statement
- Accounts Receivable / Accounts Payable
- General ledger
- Bank reconciliations
- Journal entries
- Payroll processing
- Payroll tax returns
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- Forensic Bookkeeping/Internal Controls
- QuickBooks Point of Sale
- QuickBooks Pro
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We will be happy to work with your current Accountant for any
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Kathryn C. Tiffany, LLC is a local, full-service bookkeeping/accounting
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Our fees are based upon hourly requirements and are very reasonable.
CALL NOW for a free initial consultation--at your office and convenience--to discuss your needs and how we can best serve you.
Kathryn C. Tiffany, LLC
Licensed, Bonded and Insured
Voorhees, New Jersey
Phone: 856-803-4651
Email:Kathryn@TiffanyAccounting.com
Web: http://www.TiffanyAccounting.com
Member of:
American Institute for Professional Bookkeepers
National Bookkeepers Association
Intuit QuickBooks program - Certified QuickBooks ProAdvisor
Voorhees Business Association
Chamber of Commerce
Journal of Accountancy and Accounting Today
Please contact Kathryn for more information and to schedule a free consultation.
