As of May 31, 2018, QuickBooks Desktop (QBDT) 2015 will no longer be able to work with add-on services. Such services include:

• Desktop Payroll Services – Assisted, Basic, Standard, Enhanced, Workers Comp Payment Service, and ViewMyPaycheck
• Live Support – discontinuing Telephone and Chat support options
• Online Backup – Intuit Online automated backup service
• Online Banking – Ability to download Credit Card and Bank Transactions, Merchant Services, Automatic Credit Card Billing, ACH Check Processing
• Accountant Copy File Transfer Service
• Multicurrency/Exchange Rate
• Bill Pay / Intuit Payment Network

In addition, security updates will no longer be provided after June 1, 2018. If you plan to continue using any 2015 Desktop version, make sure to download all updates prior to June 1, 2018. 

If you would like to upgrade your 2015 QBDT product or would like to discuss other options to provide the functionality you need, please give us a call or use our Contact Us page for assistance. We'd be happy to help!

It's that time of the year again - the nominees for the Top 100 ProAdvisor and ProAdvisor of the Year have been posted and voting has opened. Only 200 ProAdvisors are selected after a detailed vetting process to be included in the final stage.

We are excited to announce that for the second year in a row, Abby Hart, the owner of Hart & Associates, has reached  the top 200 list. Please help her reach the Top 100! To vote for her as a Top 100 ProAdvisor, please use the link below. Nominees are listed in alphabetical order by the last name, so you will need to scroll down a bit to find her name.

Top 100 Voting Site

Thank you for all the support you have provided us this last year. We look forward to serving your business needs over the course of this next year.

Shaping up your finances in 2018 may seem like a big goal, perhaps even too daunting. ​But if you take one small step at a time, these small steps will add up. Below are suggestions.

Shift Out of Automatic

Have you established automatic bill pay at your bank or service provider, or automatic charges to your credit card?

• Small step: Look for payments for goods or services you no longer use, such as recurring monthly subscriptions, and cancel them
• Big goal: Reduce total expenses and increase savings

 
Take the Urgency Out of Emergency

Sure, you know that having an account with enough funds specifically earmarked for emergencies is a good idea. But the amount you need to save seems overwhelming. The good news is you don’t have to immediately fund six months of living expenses.

• Small step: Set up a separate account with automatic deposits of $5 or $10 per paycheck, perhaps with funds you’ve redirected from those unused recurring monthly subscriptions
• Big goal: An emergency fund with enough cash to cover six months of expenses

 
Give Yourself Credit

Maybe you intend to pay off your credit card debt. But do you have a plan? Knowing where you stand is the first step in getting to where you want to be.

• Small step: Make a list of your cards, the balances, the minimum payments, and the interest rates
• Big goal: Eliminate finance charges by being able to pay off your balance each month

 
Retire Your Excuses

Does your employer offer a retirement plan? If so, you may be leaving money on the table.
​

• Small step: Find out what amount is on offer as “matching” funds. That’s money your employer will add to your account when you make contributions.
• Big goal: Maximize your retirement contributions.

 
Small steps can lead to big improvements in your financial well-being. Contact us for assistance in implementing a plan to reach your goals.

This is general information and should not be acted upon without first determining its application to your specific situation. Please contact your CPA or tax advisor for additional details.

​With the changes to tax law, and specifically The Tax Cuts & Jobs Act, how are you affected? Check out our video below for more information. Then contact us if you have questions about your situation.

The information contained in the materials is for general information only. All information in the materials is provided with the understanding that the material contents shall not be used as financial, legal, accounting, tax, or other professional advice or services of any kind. As such, this video should not be used as a substitute for consultation with a financial, accounting, tax, legal professional or other competent adviser. The use of the information provided in this site does not establish any contractual or other form of professional engagement between Hart & Associates, TaxVid, and/or the viewer of the site or any of the materials.

If you perform a service or ship a product before you get paid, then you likely have a balance in your Accounts Receivable account. If customers pay when their invoice is due, all is right with the world. If they don’t, then your cash flow slows down and your bank balance is not as high as it should be. Here are some tips, preventive and supportive, to help you keep your accounts receivable current. 
 
Granting Credit
 
When you deliver your service or product before your client pays you, you are in effect their “bank,” granting them credit. Not everyone deserves to be granted credit. Consider running credit checks, especially if you are billing large amounts of money for your sized business. 
 
You may also want to ask for a retainer or deposit prior to starting work or shipping your products. This will smooth your cash flow and reduce your credit risk. 
 
Offer Multiple Payment Options
 
When a customer is ready to pay their bill, make it easy on them by offering multiple payment options. Perhaps they will pay faster if you take payment by credit cards. Many people have extra money sitting in their PayPal accounts, so that is another payment option.  Apple Pay and Android Pay are relatively recent options to consider adding. 
 
You may also want to revisit the credit cards you offer: MasterCard, Visa, and American Express are universal, but many places also take Discover and Diners Club. If you are doing international business, consider JCB (Japan), China UnionPay, and RuPay (India).       
 
Collection Process
 
Once an unpaid invoice has reached its 90-day mark, the chances of collecting it are about 50 percent. This means that you will need to put some aggressive collection processes in place prior to the 90-day mark.
 
If the invoice is due in 30 days, start at the 35- to 40-day mark with a friendly reminder. At 60 days, your customer needs a strong reminder and perhaps a phone call. At 75 days, they need to know what consequences there will be for not paying. Will you report the customer debt to credit agencies? Will you turn the account over to a collection agency?
 
At 90 days, it’s probably a good idea to make one final collection effort and then turn it over to a collection agency. It might sound too soon, but the odds of collecting something much older go down significantly as time passes.     
 
At any rate, create your own process, and automate it as much as possible. The main thing is to stay on top of it.
 
Past Due Accounts
 
From how you first engage with your clients to the last steps in the collection process, there are many cost-effective techniques to avoid past due accounts and the unpleasantness that goes with them for both parties. If this is an issue in your business, try these ideas above and reach out if you’d like our help.    

This is general information and should not be acted upon without first determining its application to your specific situation. Please contact your CPA or tax advisor for additional details.