Since today is March 14th, many of my friends who do predominately taxes for a living are working away trying to get those client trial balances adjusted so they can complete those last-minute C and S-Corp tax returns. If you’re one of those accountants who uses the great functionality of the Accountant’s Copy in QuickBooks (and you know who you are), read on. If you aren’t using Accountant’s Copy (e.g. you don’t have files with a file extension of QBX, QBY, and QBA in your QuickBooks directory, please ignore this issue).
Here’s the issue:
QuickBooks 2008 Update Release 5, due March 13, 2008, addresses most of the existing circumstances under which the above issue occurs. However, we know that not all ProAdvisors install all releases for many reasons (such as the extreme workload compression we all experience this time of the year).
- If the accountant enters and then modifies a journal entry
- If the accountant modifies a deposit, then enters a new line
- If the accountant enters an account number that duplicates a number that the client has entered while the accountant has the file
- You should also advise your clients of the risks here, and pay extra attention to confirm that your client’s adjusted trial balance (e.g. after importing the QBY file) matches the values on the accountant’s final adjusted trial balance.
If you have questions about this, please read Intuit KnowledgeBase Article #1009092, or contact Intuit support.