• Home
  • About
  • Services
    • Services For Individuals
      • Personal Financial Planning
    • Business Services
      • Small Business Accounting
      • Payroll
      • Business Valuation
      • Succession Planning
      • New Business Formation
      • Internal Controls
    • Tax Services
      • Tax Preparation
      • Tax Planning
      • TAX PROBLEMS
        • IRS Audit Representation
        • Non-Filed Tax Returns
        • Back Taxes Owed
        • Payroll Tax Problems
        • IRS Liens
        • IRS Levies
        • IRS Wage Garnishment
        • IRS Seizures
        • Offer In Compromise
        • IRS Payment Plan
        • Innocent Spouse Relief
        • Get Your IRS File
    • QuickBooks Services
      • WHY QUICKBOOKS
      • QUICKBOOKS SETUP
      • QUICKBOOKS TRAINING
      • QUICKANSWERS
      • QuickBooks Tips
      • Buy QuickBooks and Save
  • Newsletter
    • Previous Newsletters
    • News & Weather
  • Financial Guides
    • Life Events
    • Business Strategies
    • Investment Strategies
    • Tax Strategies for Business Owners
    • Tax Strategies for Individuals
    • Frequently Asked Questions
  • Tax Center
    • Track Your Refund
    • Tax Due Dates
    • Tax Rates
    • IRS Tax Forms and Publications
    • Record Retention Guide
    • State Tax Forms
    • 1040 Tax Calculator
    • Marginal and Effective Tax Rates Calculator
  • Resources
    • Financial Calculators
    • News & Weather
    • SecureSend
    • Internet Links
    • Security Measures
    • Recommended Books
  • Client Portal
  • Contact

Contact Us

    Your Name (required)

    Your Email (required)

    Subject

    Your Message

    GLOBAL TAX & ACCOUNTING SERVICE INC.

    GLOBAL TAX & ACCOUNTING SERVICES INC.

    GLOBAL TAX & ACCOUNTING SERVICE INC.

    Click here for the client portal

    OFFICE -516-558-0065

    Email:omaida@globaltax.info

    • Fb
    • linkedin
    Your Personal Accountant Wherever You Are. Se Habla Español

    Contact Person

    Name: Omaida Fishman

    200 Broad Hollow Road, suite 203,
    Melville, NY 11747

    Cell: 516-784-7227

    Fax: 516-679-1964

    Email:omaida@globaltax.info

    Get Directions

    Get Ready for QuickBooks for 2013!

    End of the year. QuickBooks has been hard at work for the past 11+ months, recording and tracking and storing all of that financial data that you’ve entered so faithfully.

    But when you turn the calendar page and make a new start January 1, your accounting software could use some closure on the year that’s just passed. Here are some actions you can take to ring out the old and ring in the new. There’s more you can do (we can help you with the advanced activities) but we’ll just hit the highlights here.

    • Reconcile, reconcile, reconcile. Yes, we know it’s not one of your favorite chores, but we really like to see all bank and credit card accounts reconciled by the end of the year if at all possible. Void all checks necessary and enter missing transactions.


    Figure 1: You can make yourself crazy looking for a nickel when you’re reconciling, but it’s a critical function. 

    • Make accrual adjustments. This is complicated, and it only applies if you accrue payroll and liabilities or prepay expenses that are then carried as assets. We’ll need to create journal entries for you.
    • Close your books. This is totally optional. It depends on whether you want to lock 2012 data to everyone except those who have the password and permissions. If you don’t close them, you’ll have easier access to last year’s transaction details. Regardless of what you choose, QuickBooks will automatically make some year-end adjustments.
    • Do a physical inventory. Then compare this with what QuickBooks says. Reports | Inventory | Physical Inventory Worksheet.


    Figure 2: It’s good to match up your physical inventory count with QuickBooks occasionally, and the end of the year is as good a time as any. 

    • Run income tax reports. As you know, QuickBooks lets you assign tax lines to tax-related transactions. Use the Income Tax Preparation Report and the Income Tax Summary Report. Let us know about any errors or omissions.
    • Check W-2 and 1099 data. You can’t create these forms, of course, until after your final 2012 payroll, but you can get a head start. Ask employees to verify their names, addresses and Social Security numbers for accuracy. Also, make sure that your EIN and SEIN are correct, as well as the company address.
    • Clean up, back up. We can monitor the health of your QuickBooks data file anytime. But year-end is a good time to scrutinize your software’s performance. Has it slowed down, started crashing or returning error messages? We can troubleshoot to find the problem and clean it up. We’re sure you’ve been backing up your file faithfully, but archive all of 2012 and store it in a very safe offsite location — or use Intuit Data Protect for online storage.


    Figure 3: Frequent backups are critical, but you should be sure to have a copy of your entire 2012 data file stored somewhere safe. 

    • Double-check tax liabilities. If you’re handling your own payroll, look back to see whether all of your payments and filings have been completed.

    Again, these are suggestions. QuickBooks does not require you to do any of them. There’s more you can do, and you will need assistance with some of these. So let’s set up a December or early January meeting to get you started right in 2013.

    We want to take this opportunity to thank you for letting us serve your company in 2012. We certainly appreciate your business, and we’re happy to do what we can to help your business prosper in the coming year.

    Get Ready for QuickBooks for 2013!
    • ← Sales Orders in QuickBooks: Why? When? How?
    • Preparing Purchase Orders Precisely →

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Client portal
    Subscribe to newsletter


    Our Services

    We provide Business Services, Tax Services, QuickBooks Services and Services For Individuals.

    Read More

    • Long Island Location
      65 East John St.
      Hicksville, NY, 11801
      sal@salalbanese.com
      Phone: (516)417-8504
      Fax: (516)213-4895
      Cell: (516)987-9850
    • NYC Location
      2200 Broad Hollow Road, suite 203
      Melville, NY 11747
      sal@salalbanese.com
      Phone: (212)714-0064
      Fax: (212)629-9553
      Cell: (516)987-9850

    Client Portal

    Click Here

    Contact Info

    Address: 200 Broad Hollow Road, suite 203
    Melville, NY 11747

    516-679-1964

    516-784-7227

    516-558-0065

    omaida@www.globaltax.info

    Copyright © 2016. All Right Reserved. Powered by: WEB DESIGN YOU

    • Fb
    • linkedin
    MENU
    • Home
    • About
    • Services
      • Services For Individuals
        • Personal Financial Planning
      • Business Services
        • Small Business Accounting
        • Payroll
        • Business Valuation
        • Succession Planning
        • New Business Formation
        • Internal Controls
      • Tax Services
        • Tax Preparation
        • Tax Planning
        • TAX PROBLEMS
          • IRS Audit Representation
          • Non-Filed Tax Returns
          • Back Taxes Owed
          • Payroll Tax Problems
          • IRS Liens
          • IRS Levies
          • IRS Wage Garnishment
          • IRS Seizures
          • Offer In Compromise
          • IRS Payment Plan
          • Innocent Spouse Relief
          • Get Your IRS File
      • QuickBooks Services
        • WHY QUICKBOOKS
        • QUICKBOOKS SETUP
        • QUICKBOOKS TRAINING
        • QUICKANSWERS
        • QuickBooks Tips
        • Buy QuickBooks and Save
    • Newsletter
      • Previous Newsletters
      • News & Weather
    • Financial Guides
      • Life Events
      • Business Strategies
      • Investment Strategies
      • Tax Strategies for Business Owners
      • Tax Strategies for Individuals
      • Frequently Asked Questions
    • Tax Center
      • Track Your Refund
      • Tax Due Dates
      • Tax Rates
      • IRS Tax Forms and Publications
      • Record Retention Guide
      • State Tax Forms
      • 1040 Tax Calculator
      • Marginal and Effective Tax Rates Calculator
    • Resources
      • Financial Calculators
      • News & Weather
      • SecureSend
      • Internet Links
      • Security Measures
      • Recommended Books
    • Client Portal
    • Contact