#QuickBooksDesktop

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Tech news: CBIZ rolls out "D@ta NEXUS" suite

Plus, Biller Genie launches QuickBooks Desktop integration, PayPal integration; and other accounting technology news.

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How To Restore Company File In QuickBooks 

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QuickBooks Desktop 2019 plans according to their size of businesses QuickBooks Desktop Pro 2019 is in spotlights,upgrades, condensed data file optimization, and customer invoice history tracker feature that helps you in many financial activities. By using the resources or plans, you can make happy the clients

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Alternatives To QuickBooks Desktop

You can always consider the alternatives below if you are not happy with Quickbooks. Read more about Alternatives To QuickBooks Desktop now.

[fidobe]

Advantages of Applying VAT in OMAN

Oman has launched the implementation of VAT from 2019 and will levy a marginal rate of 5% as the VAT

rate, but this decision is being reviewed by the government and is not final as the proposal has to

undergo scrutiny at various levels. The Omani government have much time to prepare for the launch of

VAT. So, if you are planning to launch or start a business in OMAN, you must be well prepared and

informed on VAT and various benefits and essentials as pre-requisites.

In the Gulf Cooperation Council (GCC) region, VAT is being introduced under the GCC VAT agreement

which was approved by the council members. UAE and the Kingdom of Saudi Arabia were the first 2

council members to implement VAT. The Kingdom of Bahrain has implemented VAT in early 2019, and

has become the third member state to implement VAT. Now Oman and Qatar are set to follow the

footsteps of Bahrain and introduce VAT in their country. If you are planning to set up a business in

Oman, you should know certain essentials.

Oman is different from the other Gulf Cooperation Council member states, and it needs to ensure the

rollout of this tax goes without any ruckus. Armed with the data from the three countries which have

already implemented VAT, Oman can conduct a technical and fiscal analysis of VAT and determine the

impact of it on the economy which would help in the smooth transitioning of the Omani economy to a

follow Value Added Tax.

Now, before we explain the benefits of applying VAT in OMAN, we need to have some basic

understanding of what VAT is and how it functions.

Value Added Tax (VAT), also known as Goods and Services Tax (GST) in some countries, is an indirect tax

which is on consumption of a good or a service and is assessed on the value added to the said goods and

services at each stage of production or distribution. Under any government following VAT, the ultimate

tax burden is endured by the consumer.

It is a consumption tax placed on a product whenever value is added at each stage of the supply chain,

from production to the point of sale. The amount of VAT that the user pays is on the cost of the product,

less any of the costs of materials used in the product that have already been taxed. Manage your taxes using QuickBooks Oman.

Value-added taxation is based on taxpayers’ consumption rather than their income. In contrast to a

progressive income tax, which levies greater taxes on higher-level earners, VAT applies equally to every

purchase.

Omani businesses act as tax collectors for the Sultanate of Oman and are assigned with the duty of

charging, collecting, and remitting the tax to the government. Companies need to register for VAT if they

happen or expect to meet a yearly deliveries threshold.

The implementation of Value Added Tax will be a milestone for the country as it will not only help in the

growth of the economy but will also aid in the development of the country as a whole. This would prove

to be one of the essential steps that the state takes with regards to diversifying its economy.

So, some of the benefits of applying VAT in Oman are as follows:

Sense of Expenditure

The Introduction of VAT would be beneficial for society as the people would now spend money only on

things that are needed and on sensible items. As VAT is also dynamically applied on different kind of

products as slabs, so people would like to spend money on basic commodity rather on leisure.

Entitled to claim input VAT reduction

Input VAT is the tax abided by the taxable person in respect of the products or services provided to him

or imported to conduct the activity. The tax unpaid and payable by any chargeable person for any tax

period will be figured as the excess amount, of the overall value of output tax less than the complete

value of input tax-deductible for that phase. The taxable person can claim the input tax deduction in 3

years from the date of an effective tax invoice.

Audit trail

With the implementation of VAT, industries will need to ensure that they are maintaining the precise

records for at least 5 years for submitting for FTA upon request. This not only confirms complete

compliance but also gives the actual picture of the business’s economic circumstance. This will also help

the government as less organizations would be able to steal tax or perform frauds.

Diversification of the economy

This would lead to the expansion of the economy and will also help the government to lessen its

dependence on the oil and gas sector. The diversification will help to uplift the economy gradually. It will

not only empower the nation’s economy but will also strengthen it as more tax payers will pay the taxes

and govt will never run out of funds resulting in better infrastructure and better options of expenditure.

Tax Evasion

In comparison to the other taxes that are levied to the people, the chances of evading this type of tax

are very less. As it is been directly managed and monitored, less frauds will be done and tax evasion can

be minimized

Reliability and business status

As VAT registration number is to be exhibited on business documents, compulsory, such statements

which offer trustworthiness and authorization of businesses. With an appropriate certification in place,

businesses seem well recognized and firms would desire to do business that is trustworthy.

Additionally, It would also help in slowly increase the standard of living of the people by providing the

necessary funds to the government so that it could focus on the various developmental activities.

These are the advantages of the VAT that is to be implemented in Oman. Now the next agenda for you

would be to make your business ready for VAT implementation with QuickBooks OMAN , and then you are good to establish your

dream project and make profits out of it. We hope this article will improve your knowledge on VAT

benefits.

Get in touch with our Fidobe Solutions LLC to know more about our services.

📞 +971566991990 (Sales)

📧 Email: sales@fidobe.com

🌐 Or visit: www.fidobe.com

[inventorysblog]

Benefits of using GOIS with QuickBooks and Shopify Integration

Keeping digital orders and accounting processes in sync can challenge even the savviest enterprises, and for too long it’s been a painstaking process involving spreadsheet downloads and manual data entry. With a QuickBooks- Shopify Online integration with GOIS, merchants can sync eCommerce transactions and automatically track sales, taxes, expenses, and payments and eliminate all the manual data processing.

But before we begin, here’s a short overview of QuickBooks and Shopify.

QuickBooks

QuickBooks is one of the leading accounting software that helps to manage and track invoices, bills, sales, expenses, time, and many more things. Have a look at the amazing benefits of QuickBooks:

Easy money management

Keeps track of sales and generates invoices with a simple click

User-friendly

Creates a variety of financial reports

Billing expense

Shopify

Shopify is one of the most accepted e-commerce platforms to grow and manage a business. It is very much popular due to its user-friendly interface and low start-up cost. Here are some astonishing features of Shopify:

Easy to implement and use

Reliable and secure

Mobile friendly

Easy customizations

Own payment gateway

Need of Shopify Integration with QuickBooks

Staff members are spending too much time on manual data entry

Software crashes causes data loss. It takes both; time and money to process the order data.

Overselling could be risky if you do not update the inventory quantities after sales are made.

Manual data entry slows down the fulfilment process due to which orders could be late or wrongly shipped.

Without integration, product information becomes messy and inconsistent

Benefits of using GOIS with QuickBooks and Shopify Integration

1.) Keeps the accounting accurate and Up to Date

Good accountancy is the key to good friendly relationships. Coordinating your accountancy with online sales in an automated manner would give an accurate and up to date source of information. Therefore, reduce your time and effort with reconciliations in QuickBooks.

2.) Synchronizes Sales, Product and Customer Data

Though QuickBooks and Shopify are two different e-commerce platforms, they really compliment each other well. Here are some of the quick benefits of synchronizing QuickBooks and Shopify:

Automation keeps you connected with your accountancy.

It saves your time, money and is less prone to errors.

Invoices and payments keep pace with your orders

Based on your orders, inventory management is updated in real-time.

Product and customer data is organized in a proper manner. This makes the information more useful.

3.) Acquire a True View of Your Business

For good business decisions, accurate and updated information is very necessary. You cannot plan sales or production if you do not have an exact idea about the product units in the inventory. Integration of Shopify with QuickBooks gives you a wider view of your business.

Additional advantages:

Seamlessly integrate your eCommerce and accounting processes

Eliminate manual integration processes

Reduce custom coding and leverage APIs

Verify and transform your data

Connect these and other application data flows to your EDI system

Sync e-commerce data to your back-end systems

Securely hand off data to enterprise applications and systems for storage and analysis

Drive business intelligence and optimize operational outcomes

GOIS helps you out with full integration of Shopify and QuickBooks. We are there to sync your orders, products, and customers. We would also help you update your inventory counts available in QuickBooks to Shopify. Hence your online store will always be up to date.

Contact us to schedule a personalized GOIS Demo and learn more about our integration services to see the amazing transformations in your business.

[technotaught]

How I Contact Quickbooks error 1618

In this article, we would examine QuickBooks error 1618. It is one of the basic errors which clients get during programming establishment because of some specialized issues. On the off chance that you can't fathom error error error physically, you can simply dial our Quickbooks Support number. Here we will furnish you with complete point by point data about QuickBooks error 1618 and goal to conquer the issues. It will most likely assist you to introduce your product appropriately and defeat this error. I would recommend you check your framework if some other foundation application establishment is going on, you can either pause or drop that establishment first and restart your PC after that start the establishment procedure.  Also View: - QuickBooks Error 392: How to Fix, Resolve this Error Signs of QuickBooks runtime library botch 1618  Offered underneath are the insights that will reflect your item is affected by QuickBooks runtime library botch 1618. Slip-up code 1618 appears on the screen with QuickBooks Support phone number runtime library screw up message. The QuickBooks application either freezes or the PC crashes. Windows run continuously. The PC stops working for quite a while after the slip-up appears. Clarifications behind QuickBooks error 1618 as of now Install Running Discover the clarifications behind QuickBooks screw up 1618 present already running. The summary underneath has a bit of the feasible clarifications of why QB Error 1618 happens. The Read the full article

[boogles]

Moving from Quickbooks Desktop to Quickbooks Online is a major step, but necessary if you're going to be a business operating in the future from the cloud. The efficiency that going online brings more than makes the change worthwhile. You'll only wish you made the change sooner! #quickbooks #bookkeeping #bookkeeper #quickbooksproadvisor #quickbookstraining #quickbooksconsultant #quickbookspro #quickbooksdesktop #quickbookscertified #quickbooksadvice #quickbooksaccountant #quickbookstraining #quickbookssupport #quickbookssetup #quickbooksselfemployed #quickbooksservices #quickbookssolutionproviders #quickbooksproadvisoronline #quickbooksexperts www.udemy.com/course/move-from-quickbooks-desktop-to-quickbooks-online https://www.instagram.com/p/CB2Xv5uAahc/?igshid=1o9937sufxd6k

[fancypersoninternet]

Quickbooks Profit and loss by Customer

Under the Reports menu in QuickBooks, there is a submenu called Company and Financial.  One of the first reports you will see is called the Profit and Loss Standard.  While this report is self-explanatory, most users do not understand the power of it.  When you first open it, you will find it opens to the current month.

[qbdesktop-blog]

Delivered by a highly efficient team of QuickBooks Experts in the business, our QuiksBooks Desktop Support covers every technical aspect of all issues that users may come across during the use of QuickBooks Desktop.

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