QBO Tech Tip - Review Company Settings in QBO Files
Before you begin work in a QBO file or when setting one up, taking control of the settings is important.
QBO comes pre-set with toggled-on options that can cause trouble with “automation gone wild” and has pre-set toggled-off options that should be turned on for clean and efficient file work.
Company
Company name, logo, entity type, business number - make sure they are all there
Review with client
Sales
Toggle on/off key features; customer payment terms, custom fields, custom invoice numbers, whether to track inventory quantities, default email messages sent with invoices…
Set up BCC of AR to Dext/Hubdoc/client email addy, so there is a redundant location of sales document images
Review with client
Expenses
Toggle on/off key features; show items and tags, track expenses by customer, make expenses billable, default bill payment terms…
Review with client
Advanced
Toggle on numbering for the chart of accounts
This is turned off by default in QBO
Toggle off automation
Possible exception of “Pre-fill forms with previously entered content” and then only if transactions are all very much the same content
Credits - both AR and AP should not be applied automatically
They are hard to find again
They are applied willy-nilly where QBO decides to apply them
Review with client
Set a closing date with a password to safeguard data integrity
Don’t let all the great work unravel
Even if you need to share with the client, locking the books puts up a warning not to muck about in past periods
Bank rules
For gosh-darn sake un-automate them until you have a good handle on their reliability!
And even then, tread lightly with bank rules auto adding
Would you like help to implement best practices like this in your firm? How about technology advice and implementation?
I love working with accounting professionals on this very thing!
- All of my template workflows include details like this, and my Standard Operating Process Guides are start to finish standards for apps and internal processes
Featured Template
~~~
Featured Template ~~~
15% off discount code: BLOG
Onboarding a new client is an opportunity to set the stage for a collaborative relationship.
Drop the ball during this critical process, and they may question their decision to add you to their trusted business team. Not to mention the wasted time and energy for you.
It takes immense energy and time for you to get the processes & systems mapped out tightly.
Luckily for you, we’ve already done all the leg work! Created by accounting professionals, these spreadsheet templates make onboarding your new client harmonious and efficient.
What You Get:
Email templates
Google Form questionnaires with logic jumps (to vet the fit of prospective clients and gather key information)
Contracts (need to be legally vetted for your region)
Best Practice Notes
Checklists of tasks & to-dos (as a live link to a downloadable GSheet and enclosed in download as Excel formatted files)
This is a kickin’ start-to-finish onboarding system: vet clients, gather info, engage and smoothly integrate clients into your tech stack.
Join Me Here
Realize Meetup - Courtship, Engagement & Marriage - The truth comes out.
Thursday, April 20, 2023
1:00 PM 2:00 PM ET
This month we are finding out their true story.
The hows and whys of a great file review.
Join me for a monthly masterclass on the lifecycle of a client engagement. From discovery & booking, clear through to re-engagement (and dis-engagement), learn what dating a client looks like in 2023 in a series I’ve developed just for Realize.
Throughout the masterclass series, we will cover crafting your ideal client profile, the discovery process, file review & quoting, information gathering, contracting, tech implementation and education.
This is a Realize Community event series. You must be a member to participate.
I highly recommend you join Jason Staats's amazing group - you will love it there!
Simply yours, Kellie :-}
::Shameless Call To Action::
I sell bookkeeping templates, standard operating process handbooks and client guides.
15% off discount code: BLOG
