T H E S Y S T E M Pure Bookkeeping BOOKKEEPING If you were at one of our seminars we’d now invite you to take a look at The Pure Bookkeeping System ... pick it up, go through it page by page, and work out if it’s for you. Unfortunately that’s the one thing we can’t really do in the webinar. So instead we’ve sent you a sample - this document contains an example of a procedure from each of the Bookkeeping, Sales and Marketing and Human Resources manuals, as well as the table of contents from the Bookkeeping Manual. It should give you a sense of what to expect when you receive The System. Helping Great Bookkeepers Grow Their Business
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Pure Bookkeeping - Amazon S3 · Pure Bookkeeping BOOKKEEPING BOOKKEEPING BOOKKEEPING BOOKKEEPING BOOKKEEPING BOOKKEEPING BOOKKEEPING BOOKKEEPING BOOKKEEPING If you were at one of
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Transcript
T H E
S Y S T E M
Pure Bookkeeping
BOOKKEEP I NG BOOKKEEP I NG BOOKKEEP I NG
BOOKKEEP I NG BOOKKEEP I NG BOOKKEEP I NG
BOOKKEEP I NG BOOKKEEP I NG BOOKKEEP I NG
If you were at one of our seminars we’d now invite you
to take a look at The Pure Bookkeeping System ...
pick it up, go through it page by page, and work out if
it’s for you.
Unfortunately that’s the one thing we can’t really do
in the webinar. So instead we’ve sent you a sample -
this document contains an example of a procedure
from each of the Bookkeeping, Sales and Marketing
and Human Resources manuals, as well as the table
of contents from the Bookkeeping Manual. It should
give you a sense of what to expect when you receive
The Sales & Marketing Manual is broken up into five parts: Module 1 – 7 x 5 Marketing Plan
Module 2 -‐ Networking with Accountants
Module 3 – Presentation for Accountants
Module 4 -‐ Prospects
Module 5 –Presentation for Prospects
Module 6 – Engaging a New Client
There are many examples throughout the Manual of types of questions or comments you may make. They are meant to be used as a guide to help you while you are getting used to the Presentations. With experience you will learn to be creative with your interaction with Accountants or Prospects and adapt the questions or comments you make to suit the particular person you are speaking with. Above all, we recommend you be yourself! Sure you are backed by the Pure Bookkeeping System but if you are not genuinely passionate about what you do and feel awkward about what you are saying then they will see through it.
Resources & Templates CD & DVD
Over 100 Resources and Templates that form part of The Pure Bookkeeping System including: PowerPoint Presentations for Accountants and three different categories of Prospects; The Client’s Bookkeeping Manual; various checklists for tax preparations; New Clients Details forms; letters to Accountants; various value-‐added financial reports for clients; various Sales & Marketing Templates; bookkeeping job ad; interview scripts and bookkeeping recruiting skills test.
Purpose
The Sales & Marketing Manual provides you with a proven system which you can follow to deliver high quality, professional presentations to Accountants and to Prospects to increase your client base. It also includes information you need to start a new client and all the relevant templates. It has been tested on scores of Accountants and Prospects over the past 10 years so we know what they want and have developed the presentations to give them the solution – The Pure Bookkeeping System.
Refer to Resources & Templates CD Marketing/Admin/Admin MKT Quick Reference Index for a soft copy of the Index
Index PBS REF 7 x 5 Marketing Strategy -‐ Strategy 1 -‐ People you know Mod 2 2.1 -‐ Strategy 2 -‐ Client Referrals Mod 2 2.2 -‐ Strategy 3 -‐ Networking Mod 2 2.3 -‐ Strategy 4 -‐ Door Knocking Mod 2 2.4 -‐ Strategy 5 -‐ Letter Box Drops Mod 2 2.5 -‐ Strategy 6 -‐ Accountants Mod 3 -‐ Strategy 7 -‐ Website & free online advertising Mod 2 2.7 Accountants -‐ Calling referred Accountants Mod 3 3.2.1 -‐ Cold calling Mod 3 3.1 -‐ Developing a relationship Mod 3 3.4.1 -‐ Email to send to their database Mod 3 3.4.2 -‐ Feedback and Testimonials Mod 3 3.4.3 -‐ Presentation Mod 4 -‐ Referred by another Accountant Mod 3 3.2 -‐ Updating KPI's & CRM Mod 3 3.2.2 & 3.3.2 Angies List Mod 2 2.7.4 Business Cards Mod 1 1.1 Calls -‐ Calling Accountants of a new client Mod 3 3.3.1 -‐ Calling referred Accountants Mod 3 3.2.1 -‐ Calling referred Prospects Mod 5 5.3 -‐ Cold Call FROM Prospects Mod 5 5.2 -‐ Cold calling Accountants Mod 3 3.1 -‐ Cold Calling Prospects Mod 5 5.1 -‐ Tire Kickers Mod 5 5.2.1 CRM (Customer Relationship Management) -‐ Update after talking to an Accountant Mod 3 3.2.2 & 3.3.2 -‐ Update after talking to Prospect Mod 5 5.2.7 Door Knocking Mod 2 2.4 Facebook Mod 2 2.7.4 Health Check Mod 7 7.2 Hotfrog Mod 2 2.7.4
Index PBS REF Letter Box Drops Mod 2 2.5 Linkedin Mod 2 2.7.4 Marketing -‐ Creating a Marketing Plan Mod 1 1.3 -‐ Meeting with the decision makers Mod 5 5.2.4 -‐ Two things you DON'T DO Mod 2 2.8 -‐ What questions can you ask? Mod 2 2.1.2 -‐ When to start Mod 1 1.2 -‐ Who's on your team? Mod 2 2.1.3 Go Daddy Mod 2 2.7.1 Networking Mod 2 2.3 -‐ Accountants Mod 3 -‐ Groups Mod 2 2.3.1 Online advertising Mod 2 2.7.4 Postcards Mod 2 2.5.1 Powerpoint Presentations -‐ For Accountants Mod 4 -‐ For Prospects -‐ General Mod 6 6.6 -‐ For Prospects -‐ Rescue Mod 6 6.8 -‐ For Prospects -‐ Startup Business Mod 6 6.7 Preferred Bookkeeper Agreement Mod 4 4.15 Prospects -‐ Calling a referred Prospect Mod 5 5.3 -‐Cold call FROM a Prospect Mod 5 5.2 -‐ Cold Calling Mod 5 5.1 -‐ Presentation Mod 6 -‐ Tire Kickers Mod 5 5.2.1 -‐ Update CRM & Outlook Mod 5 5.2.7 Referrals -‐ From Accountants Mod 3 -‐ From people you know Mod 2 2.1 -‐ From your clients Mod 2 2.2 Resources & Templates -‐ Admin MKT 101 Marketing Plan & Checklist Mod 1 1.3 -‐ Admin MKT 102 Door Knocking Checklist Mod 2 2.4 -‐ Admin MKT 103 Creating a Website Mod 2 2.7 -‐ Admin MKT 104 Accountant's Presentation Checklist Mod 4 4.1 -‐ Admin MKT 105 Existing Accountant Feedback Form Mod 3 3.4.3 -‐ Admin MKT 106 Prospect Presentation Checklist Mod 6 6.1 -‐ Admin MKT 107 New Client Checklist Mod 7 7.1 -‐ Admin MKT 108 Existing Client Feedback Form Mod 2 2.2.2 -‐ MKT Spiel for PBS in your Advertising -‐ Corporation Mod 2 2.7.3 -‐ MKT Spiel for PBS in your Advertising -‐ Sole Proprietor Mod 2 2.7.3 -‐ PBS BK Logo & Manual Photos Mod 2 2.7.3 -‐ MKT A101 -‐ Accountant's Presentation(business) Mod 4
Index PBS REF -‐ MKT A101 -‐ Accountant's Presentation(practice) Mod 4 -‐ MKT A103 -‐ Email for Accountant to send to their clients Mod 3 3.4.2 -‐ MKT C102a New Client Engagement Letter Mod 7 7.1.1 -‐ MKT C104 New Client House in Order Checklist Mod 7 7.3 -‐ MKT C105 DETAILED Health Check Checklist Mod 7 7.2 -‐ MKT C105a DETAILED Health Check Workpapers Mod 7 7.2 -‐ MKT C106 New Client -‐ Info they need to provide Checklist Mod 7 7.3 -‐ MKT P101 Prospect Presentation -‐ General Mod 6 6.6 -‐ MKT P102 Prospect Presentation -‐ Startup Business Mod 6 6.7 -‐ MKT P103 Prospect Presentation -‐ Rescue Mod 6 6.8 -‐ MKT P104 Prospect's Details Mod 5 5.2.3 & 5.3.1 -‐ MKT P109 FREE Health Check -‐ SAGE Mod 6 6.9.1 -‐ MKT P109 FREE Health Check -‐ QB Mod 6 6.9.1 -‐ MKT P110 FREE Health Check Voucher Mod 2 2.4 -‐ Reporting 601 -‐ Sample Financial Reports for Clients
Mod 4 4.19.1 & Mod 6 6.6
-‐ Reporting 602 -‐ Sample Fitness Review for Clients
Mod 4 4.19.1 & Mod 6 6.6
-‐ Reporting 603 -‐ Understanding Your Financial Reports Mod 2 2.4 Sales -‐ Choosing your clients Mod 6 6.9 -‐ Engaging the new client Mod 7 Selling yourself in 60 seconds Mod 2 2.3.3 Square Space Mod 2 2.7.2 Testimonials -‐ From Accountants Mod 3 4.3 -‐ From Clients Mod 2 2.2 Website -‐ Content Mod 2 2.7.3 -‐ Go Daddy Mod 2 2.7.1 -‐ Square Space Mod 2 2.7.2
The following is an example of what you would say:
“Hi my name is ……………………….. I’m from ………………………………..”
“I was wondering if I could speak to (Joe Blogs) about (ABC Client)”
If you are speaking to the secretary then they won’t hesitate to put you through (unless the Accountant is unavailable). When you are put through:
“Hi Joe my name is ………………… from ………………………… and I have just been engaged as the Bookkeeper for (ABC Client)”
Some direct questions you could ask:
• I was just wondering if you could give me information about this client that might be of help.
• Are there any issues that I need to know about (e.g. with the CRA)?
• Is there anything complicated that you think I need to know about the entity?
When sufficient information has been gathered then you could ask:
“I always like to meet with the Accountant of a new client, just to put a face to the name. So I was wondering if we could make a time to meet so that I could tell you more about my business and also to find out about the services you offer and your target market?
WITHOUT PAUSING SAY – “When would be a good time for you?”
Have your Outlook Calendar ready to enter the appointment.
3.3.2 Update your CRM and Template FIN 101 – KPI’s
Refer to the Resources CD – Admin Templates – Finance – FIN 101 KPI’s
3.3.3 Sending an email after setting up the appointment
So that the Accountant has your contact details, and as a professional courtesy, confirm the appointment
by sending an email immediately after the phone call.
The following is an example of the content of the email:
Hi Joe,
I look forward to working with you on (ABC Client) and hope to make your job much easier. I look forward to meeting you on (DATE) at your office at (TIME) to tell you more about my business and find out more about the services you offer and your target market.
Regards, (YOUR NAME)
(YOUR EMAIL SIGNATURE)
3.3.4 Calling to confirm the appointment
So that you don’t waste your time, and as a professional courtesy, we recommend you call the Accountant
the day before the meeting to confirm the appointment if it was made more than a week prior.
The Human Resources Manual is broken up into six parts:
Module 1 – Placing the ad
Module 2 – Reviewing candidate’s resumes
Module 3 -‐ Initial phone call to candidate
Module 4 – The Skills Test
Module 5 – The Interview
Module 6 – Orientation
There are many examples given throughout this Manual. They are meant to be used as a guide. With experience you will learn to be creative with your interaction with the candidates and adapt the questions or comments you make to suit the particular person you are speaking with. Above all, we recommend you be yourself! Sure you are backed by the Pure Bookkeeping System but if you are not genuinely passionate about what you do and feel awkward about what you are saying then they will see through it.
Resources & Templates CD & DVD
Over 100 Resources and Templates that form part of The Pure Bookkeeping System including: PowerPoint Presentations for Accountants and three different categories of Prospects; The Client’s Bookkeeping Manual; various checklists for HST and tax preparation; New Clients Details forms; letters to Accountants; various value-‐added financial reports for clients; various Sales & Marketing Templates; HR Templates, bookkeeping job ad; interview scripts and bookkeeping recruiting skills test, the Training Module data file and template.
Purpose
The Human Resources Manual provides you with a proven system to help you select the best bookkeepers available. It has been tested on scores of candidates – successful and unsuccessful over the past 5 years. You don’t have to re-‐invent the wheel, just follow the instructions in this manual and use the Templates to generate a constant supply of great bookkeepers who will help your business grow.
Index PBS REF Advertising -‐ Ad Content Mod 1 1.1 & 1.8 -‐ Anti Discrimination Mod 1 1.4 & 1.8.1 -‐ For a contractor Mod 1 1.8.2 -‐ Local Newspaper Mod 1 1.6.1 -‐ Outsourcing or in-‐house? Mod 1 1.1 -‐ School Newsletters Mod 1 1.6.2 -‐ Workopolis Mod 1 1.7 -‐ Suggested Ad Mod 1 1.8.3 -‐ When to? Mod 1 1.5 -‐ Where to? Mod 1 1.6 Anti-‐Discrimination Mod 1 1.4 Contractors -‐ Advertising Mod 1 1.8.2 -‐ Agreement Mod 6 6.3.2 -‐ Contractor or Employee? Mod 6 6.3.3 Emails -‐ Move resumes to "Candidates to Review" folder Mod 2.5.1 -‐ Move resumes to "Candidates to Call" folder Mod 2 2.6.12 -‐ Move resumes to "Candidates for Skills Test" folder Mod 3 3.4.13 -‐ Move resumes to "Candidates for Interview" folder Mod 4 4.4.16 -‐ Organizing your email folders Mod 2 2.1 -‐ Send to unsuccessful candidate after transposing to HR101 Mod 2 2.6.10 -‐ Send to unsuccessful candidate after quick assessment Mod 2 2.5.5 Interview (sorted in order of process) -‐ Preparing for Mod 6 6.1 -‐ Your turn to talk Mod 6 6.2 -‐ Housekeeping & Legals Mod 6 6.3 -‐ Scoring the Candidate Mod 6 6.4 -‐ Calling References Mod 6 6.5 -‐ Choosing the best Mod 6 6.6 File Tray -‐ Candidates to call Mod 2 2.6.11 -‐ Interview Scheduled Mod 4 4.4.17 -‐ Labelling the file tray Mod 2 2.3 -‐ Skills Test Scheduled Mod 3 3.4.13 Newspapers Mod 1 1.6.1 Orientation -‐ Additional Bookkeeping Manuals Mod 7 7.4 -‐ Communication Mod 7 7.8 -‐ Finance Mod 7 7.9 -‐ Giving and getting referrals Mod 7 7.11 -‐ HR118 -‐ Orientation Handbook & Admin Manual Mod 7
Index PBS REF -‐ Important Contact Details Mod 7 7.15 -‐ I.T. Mod 7 7.12 -‐ Knock Your Socks Off Service! Mod 7 7.6 -‐ Legal Mod 7 7.10 -‐ Organizing Your Client's Processing Mod 7.7.13 -‐ Purpose Mod 7 7.2 -‐ The Client's Bookkeeping Manual Mod 7 7.14 -‐ Your Purpose Mod 7 7.5 Phone Interview (sorted in order of process) -‐ Anti Discrimination Mod 1 1.4 & Mod 3 3.1 -‐ Greeting Mod 3.3.3 -‐ What you need Mod 3 3.2 -‐ Section 4 -‐ Work history Mod 3.4.3 -‐ Section 5 -‐ Further study Mod 3 3.4.4 -‐ Section 3 -‐ Summary of Experience Mod 3 3.4.2 -‐ Section 6 -‐ Goals & Ambitions Mod 3 3.4.5 -‐ Section 7 -‐ Availability Mod 3 3.4.6 -‐ Section 8 -‐ Final Comments Mod 3 3.4.7 -‐ Giving information about your business Mod 3 3.4.8 -‐ Scoring Mod 3 3.4.9 -‐ Explaining the recruitment process Mod 3 3.4.10 -‐ Inviting candidate to Skills Test Mod 3 3.4.11 -‐ Unsuccessful candidate Mod 3 3.4.12 -‐ Administration after the phone call Mod 3 3.4.13 References Mod 6 6.5 Resources & Templates -‐ Admin HR103 Resume Flow Chart -‐ Admin HR121 Annual Leave Form -‐ AdminHR102 Quick Reference Index -‐ HR101 Phone Interview Mod 3 -‐ HR102 Your Teams Skills Test Results Mod 4 4.18 -‐ HR112 Skills & Speed Test Score Sheet Mod 4 4.3 -‐ HR113 Scoring YOUR performance Mod 4 4.4.5 -‐ HR114 Interview Questions Mod 4.4.4.10 -‐ HR115 Presentation for Candidates Mod 6 6.1.1 -‐ HR116 -‐ Range of Bookkeeping Tasks Mod 6 6.3.1 -‐ HR117 -‐ Contractor's Agreement Mod 6 6.3.2 -‐ HR118 Orientation Handbook & Admin Manual Mod 7 -‐ HR120 Restoring your Skills & Speed Test Data File Mod 4 -‐ SixPac Trading Ltd QB v** Skills Test Mod 4 -‐ HR110a QB Skills Test Paperwork Mod 4 4.1.1 -‐ HR110 QB Skills Test Instructions for Candidate Mod 4 4.1.1 -‐ HR111a QB Speed Test Paperwork Mod 4 4.1.1 -‐ HR111 QB Speed Test Instructions for Candidate Mod 4 4.1.1 -‐ HR112a QB SPT Skills Test Session Report Mod 4 4.1.1 -‐ HR112b QB SPT BR WP5612 Mod 4 4.1.1 -‐ HR112c QB B SPT BR8902 Mod 4 4.1.1
Index PBS REF -‐ HR112d QB SPTSpeed Test Session Report Mod 4 4.1.1 -‐ HR112 QB Skills & Speed Test Score Sheet Mod 4 4.1.1 -‐ HR120 QB restoring Your Skills Test Data File Mod 4 4.1.1 -‐ HR110a SAGE Skills Test Paperwork Mod 5 5.1.1 -‐ HR110 SAGE Skills Test Instructions for Candidate Mod 5 5.1.1 -‐ HR111a SAGE Speed Test Paperwork Mod 5 5.1.1 -‐ HR111 SAGE Speed Test Instructions for Candidate Mod 5 5.1.1 -‐ HR112a SAGE SPT Skills Test Audit Trail Report Mod 5 5.1.1 -‐ HR112b SAGE SPT BR WP5612 Mod 5 5.1.1 -‐ HR112c SAGE SPT BR8902 Mod 5 5.1.1 -‐ HR112d SAGE SPTSpeed Test Audit Trail Report Mod 5 5.1.1 -‐ HR112 SAGE Skills & Speed Test Score Sheet Mod 5 5.1.1 -‐ HR120 SAGE Restoring Your Skills Test Data File Mod 5 5.1.3 -‐ SixPac Trading Ltd SAGE v** Skills Test Mod 5 5.1.1 -‐ TR101 Training Workbook SAGE -‐ Part 1 Mod 7.7.7.6 -‐ TR101 Training Workbook SAGE -‐ Part 2 Mod 7.7.7.6 -‐ TR101 Training Workbook SAGE -‐ Part 3 Mod 7.7.7.6 -‐ TR101 Training Workbook QB -‐ Part 1 Mod 7.7.7.6 -‐ TR101 Training Workbook QB -‐ Part 2 Mod 7.7.7.6 -‐ TR101 Training Workbook QB -‐ Part 3 Mod 7.7.7.6 Resumes -‐ Filing after transposing information to HR101 Mod 2 2.6.11 -‐ Keeping Mod 2 2.2 -‐ Memberships and Qualifications Mod 2 2.6.5 -‐ Organizing your email folders Mod 2 2.1 -‐ Other things to consider Mod 2 2.6.7 -‐ Processing flow chart Mod 2 2.4 -‐ Progress of application Mod 2 2.6.3 -‐ Quick assessment Mod 2 2.5 -‐ Quick Assessment before printing Mod 2 2.5 -‐ Setting up File Tray Mod 2 2.3 -‐ Standards Mod 2 2.5.3 -‐ Summary of experience Mod 2 2.6.9 -‐ Transposing information to HR101 Mod 2 2.6 -‐ What should ring alarm bells Mod 2 2.6.8 -‐ What to look for Mod 2 2.6.4 -‐ Work history Mod 2 2.6.4 & 3.4.3 Workpolis Mod 1 1.7 School Newsletters Mod 1 1.6.2 Scoring YOUR performance -‐ HR113 Mod 4 4.4.11 Scoring YOUR Team's Skills Test Result -‐ HR101 Mod 4 4 4.18 Skills Test -‐ QB (Sorted in order of process) -‐ Preparing the paperwork Mod 4 4.1.1 -‐ Restoring the backup Mod 4 4.1.3 -‐ Saving format of the data file Mod 4 4.1.4 -‐ Keeping Mod 4 4.1.5 -‐ Work completed prior to Mod 4 4.1.6
Index PBS REF -‐ Greeting Mod 4 4.2.1 -‐ Explaining the process Mod 4 4.2.2 -‐ Your responsibility Mod 4 4.2.3 -‐ Noticing candidate's behaviour Mod 4 4.2.4 -‐ Asking questions during the test Mod 4 4.2.5 -‐ How much guidance is too much? Mod 4 4.2.6 -‐ What you're looking for is a bookkeeper like you! Mod 4 4.2.7 -‐ Communication Skills Mod 4 4.2.8 -‐ Conclusion Mod 4 4.4.2 -‐ HR112 -‐ Scoring the Test Mod 4 4.4.1 -‐ Benchmark Score Mod 4 4.4.7 -‐ HR113 -‐ Scoring YOUR performance Mod 4 4.4.11 -‐ HR102 -‐ YOUR Team's Skills Test Result Mod 4 4.4.18 Skills Test -‐ SAGE (Sorted in order of process) -‐ Preparing the paperwork Mod 5 5.1.1 -‐ Restoring the backup Mod 5 5.1.3 -‐ Saving format of the data file Mod 5 5.1.4 -‐ Keeping Mod 5 5.1.5 -‐ Work completed prior to Mod 5 5.1.6 -‐ Greeting Mod 5 5.2.1 -‐ Explaining the process Mod 5 5.2.2 -‐ Your responsibility Mod 5 5.2.3 -‐ Noticing candidate's behaviour Mod 5 5.2.4 -‐ Asking questions during the test Mod 5 5.2.5 -‐ How much guidance is too much? Mod 5 5.2.6 -‐ What you're looking for is a bookkeeper like you! Mod 5 5.2.7 -‐ Communication Skills Mod 5 5.2.8 -‐ Conclusion Mod 5 5.4.2 -‐ HR112 -‐ Scoring the Test Mod 5 5.4.1 -‐ Benchmark Score Mod 5 5.4.7 -‐ HR113 -‐ Scoring YOUR performance Mod 5 5.4.11 -‐ HR102 -‐ YOURE Team's Skills Test Result Mod 5 5.4.18 Speed Test -‐ QB (sorted in order of process) -‐ Preparing the paperwork Mod 4 4.1.2 -‐ Restoring the backup Mod 4 4.1.3 -‐ Saving format of the data file Mod 4 4.1.4 -‐ Keeping Mod 4 4.1.5 -‐ Work completed prior to Mod 4 4.1.6 -‐ Explaining the process Mod 4 4.3.1 -‐ Conclusion Mod 4 4.3.2 -‐ HR112 -‐ Scoring the Test Mod 4 4.4.5 -‐ Benchmark Score Mod 4 4.4.8 Speed Test -‐ SAGE (sorted in order of process) -‐ Preparing the paperwork Mod 5 5.1.2 -‐ Restoring the backup Mod 5 5.1.3 -‐ Saving format of the data file Mod 5 5.1.4 -‐ Keeping Mod 5 5.1.5
Index PBS REF -‐ Work completed prior to Mod 5 5.1.6 -‐ Explaining the process Mod 5 5.3.1 -‐ Conclusion Mod 5 5.3.2 -‐ HR112 -‐ Scoring the Test Mod 5 5.4.5 -‐ Benchmark Score Mod 5 5.4.8
You can have the paperwork ready for the Skills and Speed Tests well ahead of any appointments. We
recommend you create two “packs”, one for the Skills Test and one for the Speed Test. You can create any
number of these packs in advance.
Refer to Resources & Templates CD
HR/QB/A – For Skills & Speed Test/QB for
• HR110QBSkills Test Instructions for candidate
• HR110aQB Skills Test Paperwork SixPac Trading
• HR111QB Speed Test Instructions
• HR111aQB Speed Test Paperwork SixPac Trading
4.1.1 Preparing paperwork for the Skills Test -‐ QB
• Print Template HR110 – Skills Test Instructions for candidate
• Print the Template HR110A – Skills Test Paperwork
The paperwork is designed to be printed in colour as some important information has been printed in red e.g. payment methods and “processed” stamp. If you don’t have a colour printer then we suggest you highlight this information in another way e.g. using a highlighter pen or telling the candidate.
After you have printed the Templates
• Cut them into their separate invoices and dockets
• The A4 pages of “cheque butts” don’t need to be separated
• Place all paperwork in a plastic sleeve ready for the candidate
Refer to the Client’s Bookkeeping Manual and the Staff Orientation Handbook for any variation to these processes
It has already been explained how important it is that all possible Balance Sheet accounts are reconciled.
It is vital for clients who operate Accounts Receivable, that when the processing is completed, the Accounts Receivable is reconciled. Errors could result in doubling up on an invoice (affecting the income) or inflating the receivables because the payment wasn’t processed correctly.
5.1 Reconciling Accounts Receivable
To print the A/R Aging Summary:
Ø Select “Reports”
Ø Select “Customers and Receivables”
Ø Select “A/R Aging Summary”
To reconcile the Accounts Receivable:
ü Print the “A/R Aging Detail” as of the end of the processing period
ü Reconcile the report with the hard copy of the sales invoices
ü Make sure all the transactions are “real” i.e. that debt is still outstanding
ü File the report in front of the respective sales invoices
5.1.2 Transactions posted to the Accounts Receivable Account
QB does allow you to post a debit or credit directly to the Accounts Receivable
Account and will then be included in the A/R Ageing Report because it will ask
you for a Customer Name. However it is also possible that the offset credit will
be an account other than an Income Account therefore affecting the P&L.
Posting directly to Accounts Receivable can cause issues and should be avoided. All Sales/Income should be entered using an Invoice or a Sales Receipt Discuss with Admin if you have any concerns.
Example In this example the Debit is posted to the Accounts Receivable and the Credit is the Bank Account.
Posting this GJ will have three consequences:
It will affect your bank reconciliation
It will appear on the A/R Ageing Summary Report without having raised an invoice
Ensure the Bad Debt expense account Item has been set up correctly in the Chart of
Accounts
Periodically the Accounts Receivable should be reviewed in consultation with the client after all attempts at being paid have not been effective and the outstanding invoice allocated to the Bad Debt Expense Account.
Setting up the Bad Debt expense account:
Ø From your Chart of Accounts, choose “New”
Ø Add the “Bad Debt” expense account
Setting up the Service Item linked to the Bad Debt expense Account:
Ø From the List menu go to “Item list”
Ø Choose “New”
ü Name it “Bad Debts” and leave the amount as zero
ü Link it to the “Bad Debts” expense account that you just created
To write off the Bad Debt:
Ø Select “Refunds and Credit”
ü Apply the same customer
ü Choose the Bad Debts Item just created
The tax code on the refund and adjustment must match the invoice for your GST/HST and PST to be correct