2014-07 QB or QuickBooks & Electronic Resources - ZZeod


TOPIC:  QB or Quickbooks and Electronic Resources                                                DATE: October 25, 2000

TOPICAL OVERVIEW: This dialog contains encouragement to the Chief Financial Officer (CFO) of a Mission Agency to more fully utilize additional electronic resources as part of their QuickBooks (TM) (QB) system.                FILE: 2014-07

        Quality recent time together ..... please recap our discussion for me.

   Good idea ..... here goes:
    In addition to the fine uses you are currently making of QuickBooks (TM) (QB) to handle your unique Mission Agency fund acctg/settle monthly needs, you might find some of the following worth pursuing.

    Via http://www.DataBlox.com (a Software company that specializes in personalizing QB for an industry's unique applications), you might consider such item as:

>>   Within QB provide an Annual File for each staff person to include the means to produce the Monthly Account more efficiently;
>>   Discontinue your present "bal/fwds method" -Use QB Quick reports method discussed with XYZ today.
>>  Also see 1040ES process below.
>>  By click of the button, send Staff Person's settlement reports to applicable Email address.
>> Make deposit to their Bank Account -- see below.
>> Have necessary address etc. Info for annual 1099s
        Means to produce and process the 1099s.
>> Mainly, provide what an Onliner tried to do re automatic QB Reports but with enhancements mentioned here.

    Thanks for asking about the 1040ES QB process whereby the Missionary asks the Ministry to withhold and process, as their agent, their necessary tax payments during the year. This is very much like Church clergy 1040ES process mentioned in 0037 .

     Maybe develop a means to produce the proper assessment each time the DonaMail info is posted to the applic Staff member QB account. This would accomplishing at least three things:

    > At any time, a Staff member knows exactly his/her account balance.
    > Account can be settled at any time and thereby have the option of spreading out the monthly settlement process so it does not all happen at Month End, etc.
    > Enabling Mgt to know at any time of the month to real status of the General Fund since Assessment action is taken and flows there during the month, etc.

Use Online Payments - Via QB and/or your Credit Union 
  •     Monthly Payments to Local Staff
  •     Monthly settlement payments to Missionaries
  •     Monthly settlement payments re Projects
  •     Repetitive Vendors
>>    Beginning January 1 of the new calendar year, make full use of QB Payroll system for real employees who require W-2s and quarterly filings.

>>    Make full use of "Imprest Checking Accts" at appropriate branches throughout the world.

>>     With both Internet and QB Electronic resources in mind, please link to the following:  8016  8888    8089.

          As most of you know, we here at www.bcidot.org  dialog by email with Onliners regarding Ministry Finance (MinFin) matters.  Above are what we call "Edited Onliner Dialogs", or edited version of actual dialogs with some of you, but we have honored your privacy and not used your name or that of your Ministry. Our purpose is to make topical MinFin information available to any interested Ministry Finance Team so you can learn from one another.. Let us know if you would like to dialog on a Peer to Peer basis with the other Onliner involved and we will try to put you together.   Thanx - Jim Bramer  - Proverbs  9:10