Dustin Wheeler

Dustin Wheeler
Dustin is a technology-driven CPA in Orem, Utah.

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Set amount thresholds in Xero bank rules so fixed assets aren't expensed

One of my favorite things about Xero, an online accounting software, is its ability to automatically categorize transactions based on a customized set of rules.  While other accounting software have some built-in automation features (such as pre-filling information from the last entered transaction for a payee), Xero is unique in that it categorizes transactions when they match certain conditions for payees, amounts, references, etc.

While this automation can save a lot of time classifying transactions, it could also result in misclassifications if …

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Do you put social media links on your invoices? It's easy with Xero

A creatively designed invoice can be so much more than a collection tool.  Links to social media websites are simple additions to electronic invoices providing opportunites for increased visibility and contact with customers.  Plus, they add a little color and fun to an otherwise boring document.

While I was exploring settings in Xero, the social links area caught my attention.  When activated, it adds Facebook, Twitter, LinkedIn and Google+ icons to online invoices.  This is one of Xero’s many new invoicing …

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Bank rules in Xero for fixed amount checks

One of my favorite things about Xero, an online accounting software, is its ability to automatically categorize transactions based on a customized set of rules.  While other accounting software have some built-in automation features (such as pre-filling information from the last entered transaction for a payee), Xero is unique in that it categorizes transactions when they match certain conditions for payees, amounts, references, etc.

For example, I set up an automatic monthly payment on my bank’s online banking site for a …

Continue reading Bank rules in Xero for fixed amount checks

Cool feature alert - attach receipts in FreshBooks

A couple months ago, FreshBooks added an awesome feature to its online billing and accounting software: attaching expense receipts to invoices.  I am a big fan of the integrated document management, which makes digital documents always available for quick and easy retrieval.  Plus, receipts can be attached in several file formats from whatever device is convenient.  Check out this video from FreshBooks showing users taking pictures of receipts with smartphones and tablets.

Since it looks so easy in the video, I …

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Adjusting journal entries in Wave Accounting

Wave Accounting, a free online accounting software, has a very easy interface for non-accountants to automatically import and classify bank transactions.  Accountants who primarily use other accounting programs might need some time to get used to Wave Accounting’s interface.  I recently needed to make some adjusting journal entries in Wave Accounting and the screen to enter them wasn’t quite where I expected to find it.

To make an adjusting journal entry, click on the Settings tab.  That seems strange to me …

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Business Process Obliteration

Even though more than two decades have passed since it was written, the principles in the article “Reengineering Work: Don’t Automate, Obliterate” by Michael Hammer are still relevant to business process reengineering today.  It was published in the July-August 1990 edition of the Harvard Business Review.  Like my last post about the article “IT Doesn’t Matter”, this is required reading in my MBA class at UNLV and I found it worth sharing (and I’ve found blogging to be an effective way of learning the material, so …

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Are Bank Import Features Driving Reconciliations to Extinction?

I guess I’m an “old school” guy when it comes to accounting for my personal finances. I enter transactions into QuickBooks in real time.  Whenever I write a check or pay a bill online, they immediately go into QuickBooks.  I save all of my receipts, put them in a folder, and enter them in batches at least once a week.  These are important processes for me because I am always aware of the amount of cash I have available despite …

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