Wondering why this app is being covered on a 'Warehouse Wednesday'?
Maybe your warehouse is where you 'house' your fixed assets. Or, perhaps your Warehouse is where you 'house' the piles of cash you have collected in prepaid revenues.
Either way, you are going to need help reporting these assets in QuickBooks.
Accruer is the only app fully automating prepaid expenses, fixed assets, and deferred revenue directly in QuickBooks Online.
Created by FinOptimal, a tech-enabled accounting firm, Accruer uniquely solves QuickBooks accruals: no manual journal entries, no calculations, and no schedule maintenance. Include simple text in the Line Description (e.g., “Software purchase for September 15, 2023, to September 14, 2024).
All of the journal entries are automatically calculated and booked, and a sub-ledger is maintained for you to use in your monthly close.
Benefits of Accruer:
- Save 8+ hours per month per client!
- Accruer runs automatically. Make a change to QuickBooks, and everything happens automatically!
- Error resolution is instant. Realizing that the bill should be for four months instead of three while doing your review. Upon changing the description, every entry will automatically update for you.
How to Use Accruer:
Accruer was built by accountants, for accountants. That’s evident in every step of the process. It makes setup quick and painless; no custom coding or re-coding is required.
- Connect Accruer to QuickBooks using the OAuth process used for any other app.
- Choose a few basic settings, and you’re up and running within 30 minutes.
For revenue or expenses:
- Include “for the period” with one or two dates in the Line Description.
Simply enter “for the period” directly in QuickBooks, and Accruer does the rest!
- Accruer will move or spread the activity into the appropriate periods.
All entries are booked automatically by Accruer. You can choose to book months into the future or book one month at a time.
- Accruer creates schedules for you based on what you input into QuickBooks.
In this prepaid example, the columns and filters have been customized to display information exactly as the user wanted.
- You can also save multiple views.
This is an example of deferred revenue reporting.
For fixed assets:
- Set a useful life for each fixed asset account, and Accruer will automatically depreciate it for you.
- If you need to change the useful life of a particular asset or place it into service at a particular time, use the “for the period” to adjust the depreciation period(s) for individual assets.
To Find Out More
If you have been looking for a solution to your deferred revenue or fixed asset reporting for QuickBooks be certain to visit the Accruer website to see a short video and sign-up.