Happy Thanksgiving!

happy-thanksgiving

 

Holt Pros wishes you and your family a very Happy Thanksgiving!

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QuickBooks Online Forms Change

Intuit QuickBooks Online Logo

 

QuickBooks Online clients will get new layouts for invoices, estimates, and sales receipts.

Clients will be able to:

  • Save and use multiple templates
  • Choose from different styles
  • Resize columns
  • Capture invoice signatures directly on their phone or tablet
  • Enlarge their logo by uploading it again

If clients don’t want to switch to the new layouts yet, they can keep the old ones for a few more months. Just Select “Classic” from the Form Styles list and make it the default.

WATCH VIDEO

To learn more about how to customize your invoices in QuickBooks Online, follow the link below to access the step by step process.

HOW TO CUSTOMIZE YOUR INVOICE

 

Intuit QuickBooks Online SALE

Intuit QuickBooks Online Logo

Intuit is having a sale on QuickBooks Online and I am passing those savings to my clients.

Act now and save $$$$!!!

Presidents' day sale!. Offer your clients two great ways to save up to 70% off. Quickbooks® online

 

I year of savings up to 70% off OR Lifetime savings 50% off!!!

Limited time offer. Offer ends 2/17. Contact me at holtpros.com!

 

 

Standard IRS Mileage Rates 2016

Mileage TrackingStandard IRS mileage rates for business use of a vehicle will be reduced in 2016, to 54 cents per mile from 57.5 cents per mile in 2015.

Driving for medical or moving purposes may be deducted at 19 cents per mile, which is 4 cents lower than 2015.

Charitable mileage remains unchanged at 14 cents per mile.

All About Numbers

Taxing Accountant

I’m a Numbers Gal!

Numbers constitute the only universal language ~ Nathanael West

 

Age is only a number we count until we’re old enough to know it doesn’t count ~ Katrina Mayer

 

Don’t worry about numbers. Help one person at a time, and always start with the person nearest you ~ Mother Teresa

 

When things aren’t adding up in your life, start subtracting.

 

The number 4 is the only number that has the same number of letters in it.

 

Numbers are the highest degree of knowledge. It is knowledge itself. ~ Plato

 

There are 3 kinds of people in this world. Those who are good at math, and those who aren’t.

Math Test Cartoon

Red Flags for Fraud

red flagTop 10 Red Flag Warnings of Fraud – Jodi Chavez

How prepared are you to detect fraud if it slips through the cracks, or even detect fraudulent activity?

All organizations are at risk of fraud, each with its own way of preventing it such as implementing specific policies, procedures, programs and training. However, preventive measures cannot guarantee that fraud will not be committed.

Fraudulent acts by individuals can negatively impact the company’s reputation and incur significant legal costs, and lead to incarceration, not to mention the downfall of the entire organization.

To help detect fraud, we’ve listed the Top 10 red flag warning signs of fraud below. While one of these may not necessarily be cause for concern, the presence of two or more should raise suspicion and may require a more in-depth examination:

  1. Missing Documents — It isn’t uncommon for documents to go missing in the workplace. After all, accidents do happen. However, if this becomes a frequent occurrence, fraudulent acts could be the culprit, especially for checks. Missing checks numbers or gaps in reconciled check numbers can also be an indicator of fraud.
  2. Complaints — It’s easy to write off complaints as nonsense venting, but complaints are one of the best ways to identify fraud. If employees are complaining about something, don’t take it lightly. Dig further into the situation to identify the cause of the complaint and what else could be behind it.
  3. Excess Purchases — Fake payees can be used to convert funds. Be aware of excessive purchases as they could be covering a possible payoff of a purchasing agent.
  4. Inventory Shortages — Internal shrinkage and product loss happens. However, excessive shrinkage could be an indicator of a plethora of fraudulent activities.
  5. Excessive Voids/Returned Checks — Voided sales slips mean that the sale has been rung up, but the payment was diverted, potentially into the wrong hands. This is similar to cancelled checks. While they are usually legitimate transactions, a cancelled check can be returned to the wrong hands and be re-written to the fraudster. Excessive voids and cancelled or returned checks are common indications of theft and should be watched carefully.
  6. Duplicate Payments — Duplicate payments in many cases are not fraud-related. However, if a duplicate payment is accidentally made by a company, it is possible for an employee to forge an endorsement of the check. Watch this closely as well.
  7. Rounded-Amount Invoices — Fraudsters will often create invoices with rounded amounts. If you don’t see any pennies, it may be a sign that you need to look into that invoice further.
  8. Abnormal Invoice Volume — Rapid invoice volume increases may be due to a legitimate increase in business, but is also may point to fraudulent behavior. Monitoring vendor invoice volume and being aware of spikes is a good way to spot abnormal behavior.
  9. Invoices Just Under Approval Amounts — Some employees may be aware of the dollar threshold for management approval and create an invoice just below that approval level. For example, if the approval level is $5,000 and you get an invoice for $4,998, you may want to do a bit more research on that invoice.
  10. Mail Drop Address — A mail drop, or ghost address, is an entity that can receive mail in your name. Companies using a mail drop as their address rather than a P.O. Box may be doing so to hide their fraudulent activity.

Even the most buttoned up and process driven organizations are at risk for fraud. In order to find this “needle in a haystack” and confront fraudulent behavior, you must first accept that fraud exists and that it (unfortunately) occurs often.

Acknowledge the importance of fraud awareness and implement training for employees on how to detect fraud at work. By enforcing controls, policies and procedures, you will cut down your risk of fraud and be better equipped to identify it.

Jodi Chavez is a Senior Vice President for Accounting Principals, which is active in recruitment and placement of accounting and finance professionals. Chavez is responsible for business development, strategy, operations and financial performance for the west zone and Georgia. She has more than 14 years of experience in the recruitment industry, with eight years specifically focused professional services with an emphasis on finance and accounting.

 

 

IRS Launches ACA Resource Page for Employers

Affordable Care ActThe IRS has a new webpage that offers information on the Affordable Care Act’s employer mandate and reporting requirements.

The page is called the “ACA Information Center for Applicable Large Employers (ALEs),” but the Internal Revenue Service said Sept. 23 that it will provide information and resources for employers of all sizes. The information center has sections for employers to determine whether they are an ALE under the health care law, along with resources for ALEs and outreach materials.

Under the employer mandate, or shared-responsibility provisions, ALEs must provide full-time employees with affordable health care coverage that meets minimum-value standards or potentially face penalties. They also must report on their offers of minimum essential coverage to employees.  Both ACA provisions are in effect for 2015.

Click here to view the new ACA Resource Page for Employers.

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