The new security feature implemented in one of QuickBooks newest updates has created quite the stir. There seems to be a lot of frustration and anger over these changes. What is this change and how does it affect you?
If you installed recent QuickBooks Desktop updates, this new security feature took effect forcing most users to set up a complex password to access their QuickBooks file.
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Although QuickBooks software allows a company to run reports on the Cash or Accrual basis, note that it does not mean there are two sets of books. When a Cash basis report is run, QuickBooks removes any unreceived income and any unpaid expenses and at the same time adds income and expenses from last year that were paid in the current year converting an Accrual basis report... More
Completing and sending Form 1099’s are an important part of the tax process at the end of the year as they are reminders to these vendors to include such payments on their tax returns. QuickBooks has a great feature which offers the ability to track payments to independent contractors or other vendors who need to receive 1099’s at year end.... More