How to reissue a bill payment in QuickBooks in a closed period

How to Reissue a Bill Payment in QuickBooks in a Closed Period

A vendor you paid via Bill Payment lost the check.  You need to re-issue the Bill Payment check, but it was in the last fiscal year and the books are now closed.  You do not want to delete or void the check as this would cause problems.  Therefore, you want to perform the following steps: Read More >

quickbooks online

Protect Your Records – Closing Your QuickBooks

Protect Your Records – Closing Your QuickBooks

Once you have entered all prior year activity and reconciled all accounts, you want to prevent mistaken prior year typos by closing your QuickBooks.  This is an easy step that your tax accountants and auditors will appreciate and saves you from potential headaches of trying to find the accidental changes to closed periods the following year.  Here are the steps for QuickBooks Desktop:

Go to Edit > Preferences – Go to the Accounting tab on left & Company Preferences tab on top:

Click Set Date/Password > Enter the Closing Date and Closing Date Password > Click OK

Part 1

You can do this monthly or quarterly too, but at a minimum perform annually!

You Closed Your Books But Need To Adjust Estimates

Applies to QuickBooks Desktop/Enterprise:

To maintain access to prior estimates, sales orders and purchase orders check the box above the closing date.

Go to Edit > Preferences – Go to the Accounting tab on left & Company Preferences tab on top:

Click Set Date/Password > Check the box above the Closing Date > Click OK

Part 2

Keep rolling without fear of affecting prior year!

Protect Your Records – Close Your Books In QuickBooks Online, Too

Ensure all activity is entered and reconciled then follow the below steps to prevent accidental changes to closed periods.  Here are the steps for QuickBooks Online:

Go to the Gear icon in the top right > Account and Setting > Advanced tab on left at bottom.

Within the top Accounting section, click the pencil at top right to edit.

Enter the updated closed period, chose ‘Allow changes after viewing a warning and entering a password’ and enter your password and click Save.

Part 3

Year-end headaches averted!

Any questions give Chortek’s QuickBooks Specialist, Ann Weaver, a call @ 262.522.8277


Change in Personnel Brings Other Opportunities

Recently, Chortek LLP has been working with clients who have experienced personnel changes in various roles throughout their company.  These changes included bookkeepers and accountants in smaller companies and the CPAs, CFOs, and controllers in larger companies.

The hiring of new personnel can be viewed in one of two ways.  On one hand, some companies may be concerned that they will not be able to get the new employee up to speed quickly enough.  They may also wonder whether the new hire will want to make changes to the company’s existing systems.  On the other hand, some businesses take advantage of this opportunity to make positive changes to their business practices.

What to Do Following a Change

One of the first things a company should do when someone leaves his or her job is to take the opportunity to evaluate the position.  What does the company expect from that particular role – both now and in the future – in order to best support the needs of the company? Read More >


ERP OPTIONS: On-Premise vs. Cloud ERP

ERP Options?

If you are considering a new or upgraded ERP system for your company, chances are you are being faced with many choices. As you consider your ERP options, one of the decisions you will make is whether to select a locally-installed ERP solution or one that is cloud-based. Traditionally, software is purchased and installed on computers in your company, also known as an “on-premise” system. With this type of ERP, you are responsible for managing all servers, software upgrades, and workstation upgrades, backup, etc..

However, Software-as-a-Service (SaaS) or “cloud computing” has become more prevalent as an option to upgrade your software or when purchasing new. With this type of deployment, the ERP software and its associated data are centrally managed on the Internet “cloud” by the ERP vendor, and customers access the system via a web browser.

While the difference between on-premise and cloud ERP system is clear, the type of deployment model you should choose might not be as obvious. The ERP system can significantly impact all areas of your business. It is important to consider the following key factors when weighing whether to use on-premise or cloud-based ERP software: Read More >

accounting system selection

How to Select a New Accounting/ERP System – Part 4


In Part 3, we discussed how to prepare for and conduct software demonstrations. In Part 4, we will look at how to finalize the selection of the ERP system and suggestions for a successful implementation of the new solution.

Finalize Your System Selection

After you wrap up all the ERP demos, your job isn’t quite finished. The future of your company’s technology assets, level of success, and performance now lies in the hands of you and your software selection team. Take your time and avoid feeling pressured into making a fast decision. Read More >

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How to Select a New Accounting/ERP System – Part 3

In Part 2, we discussed how to research possible ERP solutions and how to create a request for information (RFI). In Part 3, we will look at preparing for and conducting software demonstrations.

The software demonstration is a crucial component of choosing a new ERP system. When handled properly, the demonstration will provide you with critical information on whether the system will best fit your needs allowing you the opportunity to compare different ERP software systems in order to make the best decision possible. If handled incorrectly, the demonstration will turn into a cheerleading exercise for the vendor, nearly devoid of all useful information. Read More >


How to Select a New Accounting/ERP System – Part 2

RFI (Request For Information)

In Part 1, we discussed creating a selection committee and document your company’s ERP needs. In Part 2, we will look at researching various ERP solutions as well as developing the request for information.

Researching Possible Solutions

Currently, there are a number of software products that are dominating the general marketplace such as:

  • Intuit (QuickBooks)
  • Microsoft Business Solutions (Dynamics AX, NV, and GP)
  • Sage 100 (MAS 90/200)
  • Sage X3
  • Sage 300 (ACCPAC)
  • Sage 50 (Peachtree)

However, you may need to look at specific, or vertical, solutions for services, retail, manufacturing, and construction from Epicor, Infor, Viewpoint, etc. Keep in mind that SaaS/Cloud solutions such as NetSuite, Intacct, and Acumatica should also be included as ERP solutions to evaluate. If you are bewildered by the claims flooding the market and every company touting itself as the most reliable, the most trusted, and the best in the industry, there are five keywords to keep in mind that will help you separate the real from the pretenders: Read More >

erp selection committee

Selecting a New Enterprise Resource Planning (ERP) System – Part 1

The Importance of Building an ERP Selection Committee and Identifying Your Needs

First and foremost, it is imperative to create a selection committee made up of individuals throughout the organization. This committee will be responsible for moving the company through a successful selection by representing its functional area, defining the software requirements, evaluating and comparing different products based on those requirements, and advocating for the product chosen. Building a selection committee has been shown to be more successful than one person in IT services, finance, or production running the project themselves.

Selecting a new ERP system can be a humbling challenge and defining proper roles and responsibilities for your internal team cannot be stressed enough. While ERP implementation teams can vary in terms of size (number of people), there are several main roles that are needed no matter the size of the company. Read More >

financial budgeting web

The Real Cost of Doing Nothing

ERP Solutions

When considering a particular plan of action for your business and its operations, you may be concerned about issues of the cost of implementing ERP solutions and related integrations. While the return on your investment is an important component in your decision-making process, other factors can be just as important. In some cases, failure to act could cost you far more than the expenses involved in putting your business plans into action. Chortek LLP’s Technology Consulting Group can provide you with a clear picture of the costs of implementing or failing to implement strategies for your business enterprises. Read More >