Everything Else
Archived Posts from this Category
Heads Up on an Important QuickBooks Security Issue
Posted by Gabrielle on 29 Oct 2009 | Tagged as: Everything Else, Updates
It’s Gabrielle Fontaine with a heads-up critical update for
everyone currently (or formerly) using QuickBooks software.
You may also want to pass this information along to any of
your clients who are currently using QuickBooks software on their own.
Intuit, the company that makes QuickBooks, just announced that
there is a potential security risk that has been found that
would allow hackers to access the data on your computer.
The threat is due to a newly discovered vulnerability in
Microsoft’s ActiveX technology, which is commonly used by many
popular computer programs.
===================================
QuickBooks Versions Affected By The Threat
===================================
All QuickBooks Simple Start, Pro, Premier and Enterprise Solutions
versions, 2009 and older (including trial versions) are vulernable.
The new QuickBooks 2010 versions, however, are not affected.
Intuit updates its currently supported versions from time to time
by releasing software patches. Each update or patch is given a
“Release” number for easy identification.
Right now, downloading Intuit’s updates is the only immediate way
to eliminate the vulnerability in currently supported versions of
QuickBooks. In time, Microsoft will likely release a patch with
their regular security updates for ActiveX.
===================================
How To Protect Your Computer Now
===================================
All QuickBooks users of 2007, 2008 and 2009 versions should verify
that they have downloaded and installed the most current updates.
You can check if your software is up to date by opening QuickBooks
and then using the F2 key.
These are the most current updates that include a patch which
eliminates this new threat:
QuickBooks 2009 – R8
QuickBooks 2008 – R10
QuickBooks 2007 – R13
The best way to stay up to date is to enable the automatic update
feature AND to install those updates when prompted.
You can also manually download the latest updates directly from the
QuickBooks website.
http://support.quickbooks.intuit.com/support/productupdates.aspx
===================================
If You Are Running QuickBooks 2006 or Older….
===================================
If you are running QuickBooks 2006 or older, you are vulnerable to
this security threat. Since these versions are no longer supported
by Intuit, there is no downloadable update. Your best defense is to
upgrade your QuickBooks software to a supported version (2007-2009)
as soon as possible.
You can find both 2009 and the newest 2010 versions on amazon.com
Additionally, if you have an older version of QuickBooks installed
on your computer but it is no longer in use, remove it by
uninstalling the program to remove the ActiveX threat.
===================================
If You Are Running a Non-US Version of QuickBooks….
===================================
For Canadian versions of QuickBooks, you can download the updates
directly from the Intuit website:
For UK versions of QuickBooks, you can download the updates
directly from the Intuit website:
===================================
I’ve Made a Video to Show You Exactly What to Do
===================================
As an Advanced Certified QuickBooks ProAdvisor, I want to see you
get the most out of your QuickBooks software. That’s why I created
my free video training blog, QB QuickTips.
My latest video post walks you through each of the steps outlined above to
show you exactly how to protect yourself from this new ActiveX threat.
If you want to stay informed about critical updates for QuickBooks
like this one, as well as learn insider tricks and tips on how to
use this powerful software for your business success, be sure and
sign up for the QB QuickTips notification list.
You’ll also receive private, subscriber-only bonuses that are not
even posted on the blog.
Get your free subcription here:
When Clients Want to Do Their Own Books…
Posted by Gabrielle on 02 Sep 2009 | Tagged as: Articles, Everything Else, Training, Updates, Videos
Have you found that the recession is causing some of your clients to take a hard look at reducing expenses? Is that making them consider the idea of taking their bookkeeping in-house?
If so, don’t panic. There is actually a golden opportunity here, if we look a little deeper.
The first reaction most business owners have when they see a sudden (or not-so-sudden) dip in revenues, is to tighten the belt on their expenses. And unless they are aware of the true value of your services, they may target their outsourced bookkeeping expense for elimination. “It’s just simple data entry,” they may think.
Of course, we know that accurate bookkeeping involves far more expertise than simple data entry. But sometimes our clients don’t fully realize that.
What To Do About It
Before I show you how you can turn this into a golden opportunity, let me tell you what NOT to do.
Don’t sound devastated when your client breaks the news. If you sound rattled and scared to lose their business, that will only make them not want to discuss alternatives with you. (They likely feel awkward talking to you about it already.)
Instead, step into the role of consultant and explore whether this change truly is the best option for your client’s business success. To do this effectively, you MUST get out of your own way!
DO NOT worry about losing the client. Really. This will likely turn out to be a good deal for you whether the client wants you to continue doing the bookkeeping or not!
Focus fully on your client’s welfare for the moment.
DO look for how you can assist your client to make the best possible decision for his / her success. You will stand out from the “typical” freelancer in this situation. And you will be setting yourself up for success.
Here’s why.
If, in fact, it truly would be a wise decision economically for your client to do the books on his/her own (although, most often, this is simply not the case), some training is definitely going to be needed. Maybe a lot of it. Aren’t you in the best position to provide that training?
Even after the client has been adequately trained (and the client isn’t overwhelmed by what it really takes to get the books done right), s/he will probably need ongoing support. This is especially true if s/he is using QuickBooks. This service alone could actually save the client from making a big mess that will cost much more to clean up in the long run.
You could even offer to do the bank reconciliations and/or set up a regular review of the books on a monthly or quarterly basis, just to make sure everything stays clean and up to date. The client may find this an invaluable service that won’t break the bank.
This type of arrangement is good for your bottom line too because your fee as a trainer and consultant should be at a higher rate than what you’re charging for basic monthly bookkeeping services.
Positioning Yourself As A Consultant
The most important factor in pulling this kind of transition off is to really listen to your client and hear where the pain is coming from. You want to provide highly valuable solutions that your client will appreciate.
If your client really does want you to continue doing the books, but they are simply looking to cut overhead, offer suggestions for where else in their business they might cut some fat that will provide short-term as well as long-term results. Show them how to find these opportunities in their financial reports.
I’ve seen clients whose sole reason for taking back the books was to save money. But they had no desire whatsoever to keep track of their finances. So they soon found themselves in hot water because their bookkeeping records quickly became a disaster. And then, of course, they had to pay big bucks to have their accountant clean up the mess at tax time. Not smart.
Save your clients from this pain and offer a great solution that works for both of you! (Remember: Win-Win)
So whether they keep you as their bookkeeper or not, help your clients to avoid the penny-wise-and-pound-foolish mindset by showing you really care about their success. If needed, help them tighten the belt (as well as identify ways to pull in more revenue) by transitioning to the role of business consultant.
As a valued advisor to your clients, you will make your services indispensable, increase your rates, and hold on to top-notch clients for life.
Who knew the recession could turn out to be such a blessing in disguise?
placeholder
~Gabrielle
p
Resources
If you are looking for ways to become a QuickBooks trainer or consultant, consider these helpful resources:
QuickBooks ProAdvisor Program – QuickBooks software, training, certification and Train the Trainer resources included in the ProAdvisor Program
Successful QuickBooks Consulting – This is a helpful guide to starting and growing a consultant business that focuses exclusively on QuickBooks. Highly recommended.
Is Perfectionism Hurting Your Bottom Line?
Posted by Gabrielle on 04 Aug 2009 | Tagged as: Articles, Everything Else, Q & A
I’d like to ask you an important question: In your business, are you a perfectionist or a pursuer of excellence?
Many bookkeepers tend to be perfectionists. It makes sense really, when you think about it. We are very good at organizing and processing lots of small details, and getting them booked into business financial records accurately. An admirable skill that many simply do not possess.
But being a perfectionist does not mean that you are pursuing excellence.
The reason? Perfectionists have a tendency to focus on the wrong priorities.
Haven’t you found yourself spending way too much time fussing over details? I know I am always at risk of getting sucked into making every little detail on my clients’ books exactly perfect. If you haven’t had this experience, well, you’re probably not a perfectionist! (But read the rest of the article anyway. You’ll learn how to pursue excellence with a simple system even non-perfectionists can use effectively.) 
Perfectionists can easily waste a lot of time and energy (that they ultimately cannot bill out to their clients) trying to do certain tasks exactly right. Sure, we tell ourselves that we are providing top-notch client services. However, the truth may be, doing those tasks “perfectly” may not be necessary or even valuable to our clients.
Interestingly, this is often the difference between bookkeepers and accountants as well. Accountants tend to look at the big picture and make adjustments accordingly. Bookkeepers have the tendency to want every little transaction booked exactly right.
Who generally makes more money?
placeholder
The difference between Perfectionism and the Pursuit of Excellence
placeholder
Perfectionism: A disposition to feel that anything less than perfect is unacceptable — Princeton University website
placeholder
It’s easy to see how being a perfectionist can be a double-edged sword when it comes to running your own business. Perfection, of course, is not possible in an imperfect world, so it is an unrealistic expectation.
The good news is, perfectionism, with a little tweaking, can be directed toward the pursuit of excellence, with amazing results.
placeholder
Excellence: Achieving a high level of performance; exemplary performance; exceeding normal expectations of performance or meeting the highest expectations of what can be achieved; performing well in excess of the norm; outperforming most. — University of Southern Queensland website
placeholder
How can you pursue excellence while letting go of perfectionism?
Rewards help.
It’s a lot like how I learned to become a Scrabble® champion (among family and friends). I learned this lesson from my Lithuanian immigrant grandmother.
When we would play, I used to come up with fantastic words using nearly all my allotted letter tiles all at once. But I never seemed to make many points. My English-as-a-second-language grandmother, however, had this knack for dropping a single letter on the board and raking in mega points – usually from my big fancy words! That used to really burn me, and it just didn’t seem fair. I was doing all the work, but she was getting all the points!
But then I figured out her strategy. She was paying attention to different priorities than I was. She was focused on points, looking for opportunities to put her letters on the Double and Triple Word Score boxes. I was just trying to use as many letters as possible by coming up with long and thoughtful words. Her priorities were in the right place. I needed to pay more attention to WHERE I was placing those big brilliant words.
Once I started putting my words in the right places, I virtually become unbeatable! I even dethroned my grandmother from her long-standing family champion position. (No one wants to play with me anymore.) 
This is exactly how perfectionists can learn to pursue excellence and build a highly profitable business as a result. It takes a little practice and discipline, but once you apply the tenacity of perfectionism to the pursuit of excellence, you will be reaping extremely powerful benefits for both you and your clients.
Focus and Priorities
Simply put, you must keep the end result of what is most important clearly in focus at all times. Then set definite deadlines for reaching those results.
In practical terms, I do this on a daily and weekly basis with priority lists. I keep deadline-driven project priorities visible at all times. I also block out specific time periods on my calendar for the week’s top priorities.
Each of my clients’ files also have outcome-based priority lists. These are reviewed and revised whenever I work on my clients’ books.
When time runs short, I know exactly what needs to be accomplished and when. I evaluate which details matter and which ones don’t. Then work in high gear only on the tasks that matter and let go of any other details so projects are delivered on time. This results in truly excellent service that is ALL billable.
How will being an excellence-focused perfectionist affect your bottom line?
By channeling your skills as a perfectionist toward the pursuit of excellence, you will see a dramatic increase to your bottom line! You will be concentrating your efforts in a way that will not only boost your self-esteem, but also your profits and reputation.
What action will you take starting this week to use your skills as a perfectionist to build a freelance bookkeeping service focused on excellence?
I want to hear from YOU! Commit to a healthier bottom line (by making a comment below) 
placeholder
~Gabrielle
placeholder
Inspiration for Excellence
In a discussion about the vast distinctions between Perfectionism and Excellence, Jeff Baas of One Stop Web Support penned these inspiring contrasts which I’ve excerpted below to help us all stay on the road to excellence without getting tangled up in perfectionism:
placeholder
PERFECTIONISM is the fear of being wrong.
THE PURSUIT OF EXCELLENCE is the willingness to be wrong and to learn from it.
PERFECTIONISM is seeing any effort that doesn’t turn out exactly as planned as failure.
THE PURSUIT OF EXCELLENCE is seeing any effort that doesn’t turn out exactly as planned as a valuable opportunity to refine the plan and make it better.
PERFECTIONISM is fear that others might think you don’t measure up.
THE PURSUIT OF EXCELLENCE is a desire to be the best you can be.
PERFECTIONISM is staying stuck in anger and frustration.
THE PURSUIT OF EXCELLENCE is growing beyond where you ever expected to grow.
PERFECTIONISM is confining.
THE PURSUIT OF EXCELLENCE is freeing.
PERFECTIONISM is conformity to presuppositions.
THE PURSUIT OF EXCELLENCE is exploring new possibilities.
PERFECTIONISM is self-doubt.
THE PURSUIT OF EXCELLENCE is confidence.
PERFECTIONISM is closing yourself off.
THE PURSUIT OF EXCELLENCE is opening yourself up.
PERFECTIONISM is remaining right where you’ve always been.
THE PURSUIT OF EXCELLENCE is a journey of discovery.
PERFECTIONISM is fear.
THE PURSUIT OF EXCELLENCE is trust.
PERFECTIONISM is the fear that something unpleasant will come from our efforts.
THE PURSUIT OF EXCELLENCE is an excitement over the improvements that we will help discover.
Jeff Baas is a website guru and Internet marketer who knows the challenges new business owners face (with perfectionism being only one of them). He has a new special report for anyone starting a business who wants to avoid the #1 business-killing mistake so many of us make. It’s free. So if you’re just starting out with your freelance bookkeeping service, you’ll want to get your hands on this helpful information right away.
Click Here to get your free copy now ==> Going From Employee to Entrepreneur
About your website…
Posted by Gabrielle on 07 Jun 2009 | Tagged as: Everything Else, Marketing, Q & A, Training, Updates
Here’s a solution to one of the most frequent questions I’m asked by my TFB blog readers:
“How do I quickly and easily put up a website that will help build my business?”
There are several ways to do it, but I am very pleased to be able to invite you to a free training webinar that is FULL of extremely important information about not only how to put up a website easily and quickly, but also key strategies to make your website profitable – even if you’ve already got a great website in place.
This is a special time-sensitive invitation…
Click Here => Free Mini-Site Webinar
It’s a new, absolutely free, LIVE *webinar* being offered by my own marketing mentor, Jim Edwards. This special class is called:
“The Ultimate Mini-Site Formula“.
I’m going to be attending this one-time-only training happening THIS coming Wednesday, June 10th. And you are invited to join me.
Regardless of where you are in your business, this live online class contains proven battle-tested blueprints for making your online presence profitable with quick and easy little “mini-websites” you can create yourself in just a single afternoon!
(And if you’re just getting ready to put up your website, this is MUST-HAVE information to make sure your site will actually do the selling for you and make money!)
Get the full story right here:
Click Here => Free Mini-Site Webinar
Using the latest webinar technology, we’ll discover together….
- What exactly is a “mini-site” and why you NEED to have at least one for your business
placeholder - Breakthrough strategies that will help you to set up an autopilot mini-site that brings you a never-ending flow of new leads and customers.
placeholder - The Exact 4-step process every successful mini-site business MUST follow to profit online
placeholder - How to instantly double your mini-site profits just by changing ONE link
placeholder - One of the BIGGEST TRAPS you can fall into that guarantees failure (and more importantly, how to AVOID it!)
placeholder - A detailed run-through of Jim’s Million Dollar “Ultimate Online Success Formula” (That’s no hype, either. Jim is literally a multi-millionaire because of this exact mini-site formula!)
placeholder - Jim says he’ll even create a REAL mini-site LIVE on the Webinar in just 4 1/2 minutes! (And he’ll also show you a 30-second trick for turning this site into profits, almost instantly!)…
placeholder - – And much, MUCH more!
Plus not only will you be able to hear Jim sharing this NEW information, but you’ll also get to SEE and WATCH it happening in real time on your computer screen, complete with LIVE examples! (And it doesn’t matter what connection speed you have or even if you have a PC or Mac.)
I’m definitely looking forward to being on this webinar myself — that’s why I thought you’d want to know about it too. It’s going to to be a first-class event!
I truly hope you can join me. You won’t regret it — of that I’m 100% sure.
Gabrielle
P.S. – Considering it’s been almost ONE YEAR since Jim’s last free mini-site training webinar, and since there’s zero tuition cost for this one-time-only event, Jim told me this will be completely booked up very quickly.
If you’ve ever wanted to use the Internet and a website to build your business, this is one free event you don’t want to miss! I know I’ll be there! Don’t wait and kick yourself later.
Click Here => Free Mini-Site Webinar
Consulting and The Freelance Bookkeeper
Posted by Gabrielle on 30 Apr 2009 | Tagged as: Articles, Everything Else, Training, Videos
In my previous article, The Freelance Bookkeeper’s Credentials, we discussed the training and certifications most often recommended for bookkeepers who gear their business toward straight month-to-month write-up work (aka typical bookkeeping services) for their clients.
If you remain as a one-person business (and you don’t plan to grow your company in the traditional way by hiring employees and/or subcontractors), however, there is a downside.
Your earning capacity is very finite. As a solo bookkeeper, you generally cannot actively handle more than 10 or 20 clients at any given time. Of course, the number of clients you are able to serve is also affected by their business volume. But once you reach your capacity, you will likely need to turn away any new clients that come your way. And then the only way you can make more money is to raise your rates.
That is not a bad thing, just a limitation to be aware of.
Working alone as a solo freelancer may also severely limit your schedule flexibility, since you will have a good deal of labor-intensive work to deliver every single month.
However, viewed from a more positive angle, if your income goals are quite modest and you prefer the relative income security of doing month-to-month bookkeeping, this business model might be the perfect fit for you. And these days there’s something to be said for stable cash flow and a predictable workload.
So what’s my point? It’s this: Doing monthly bookkeeping work is just one option; it’s not your only option as a freelance bookkeeper. Not by a long shot.
Bigger Goals and More Adventure
If you already have substantial bookkeeping experience and have a firm handle on accounting mechanics, AND you’re the type who would feel tied down or bored working for the same clients doing the same work month in and month out, then maybe positioning yourself as a consultant is a better fit for you.
As a consultant, you can charge much higher fees than a bookkeeper generally can. So it is easier to build your business to the six-figure level, without the need to hire employees.
Additionally, there are different types of consulting service you could provide. In my own experience, there are many business owners who are starved for someone to fill the role of their business consultant. Because bookkeepers have an intimate view of the numbers, you are in a unique position to fill the gap left by many accountants who see their clients only at tax time. If you have the experience and inclination to work with your clients from a big picture perspective, consider this type of consulting.
Other consulting specialties might have to do with cash flow or credit management, or dealing with employment issues, or even tax planning, if you have those types of qualifications.
But no matter which consulting needs you fulfill for your clients, you will be working with QuickBooks. No doubt about that. Transitioning or building your consulting services around QuickBooks is a natural – and lucrative – option all by itself.
The two main areas I’ve seen that work well are QuickBooks training and troubleshooting. There is also a high demand for set up of new QuickBooks installations.
QuickBooks Credentials
As with bookkeeping credentials, you have several choices. And whenever new freelancers ask, I have a definite opinion about which certification(s) I recommend.
Intuit, the makers of QuickBooks, provides two certification programs for their software – one for users and one for accounting professionals who want to become what they call ProAdvisors. If you want a professional credential that you can highlight to your clients, being a Certified QuickBooks ProAdvisor gets my highest recommendation. One of the big reasons I recommend it (besides the fact that the ProAdvisor program provides you with many, many excellent tools to build your QuickBooks consulting practice), is because of the credibility you get with being certified by the company that makes the program!
Among others, there are also certification programs available through NACPB and Universal Accounting. Now to be fair, I have not thoroughly evaluated the content of these programs, so I cannot make a recommendation either way. They are likely to be helpful for expanding your knowledge of QuickBooks as a service provider, to be sure. But as a certification for credibility with your clients, they will not carry as much weight as the one provided by Intuit.
If you are not so concerned about having a certification for marketing purposes, but more focused on a deeper working knowledge of QuickBooks itself, my best recommendation for learning the program inside out is the training (and they also have a certification program) provided by the Sleeter Group. The depth of their training information is second to none. They also have an in-depth QuickBooks Consultant’s guide that will be your best friend when working in the trenches.
It’s Always a Package Deal
As with most businesses models, being a consultant is a package deal too. Yes, you can make more money and have greater flexibility over your schedule. But you may be exposed to a possible roller coaster income ride too. When you work on a project basis, you are more likely to have many gigs all at once, and then suddenly nothing.
There are ways to even out the cash flow to make it more steady as a consultant. But that is a topic for a future article. I just want to let you know that you may have to watch your step if you decide to move up to the world of consulting. Though I personally prefer it.
If you want to explore the world of QuickBooks consulting, I’ve included a couple of excellent books on the topic in the Resource list below that you should look into before you make the leap.
Bottom line: Both business models have their advantages and disadvantages, and you may even decide on a mix of both typical monthly bookkeeping services and consulting projects. Just always remember, you are the boss and that’s why they call it FREElancing!
Tell us about your plans, or if you’ve had experience with any of the QuickBooks certification programs, how have they worked for you? Comment below and let’s tawk!
Gabrielle
RESOURCES
Successful QuickBooks Consulting
QuickBooks Certified User Program
NACPB QuickBooks Certification
