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Your Banking Integration Import Cheat Sheet

Topic: Banking,How-to | Leave a Comment »

Posted on July 15, 2014 by Kelli Wall

With our new banking integration, we have had some questions posed to our support team about the best way to handle different transaction situations. So we put together a cheat sheet on how to handle different transaction scenarios. Check out the steps below: they might help you too!

No matter what the case, you will always start out the same way:

First Go to Accounts > Mange Financial Connections > then click View on linked account you want to import transactions from. Then, download the transactions for the account by clicking Download Transactions in the right hand sidebar. Your list of available cleared transactions will display. Check the scenarios below to see how to handle the different cases.

If the transaction is new and not already manually entered in WorkingPoint AND the default category looks good to you:
Check the checkbox for that transaction under the Imported column and click Import Transactions at the bottom of the list. Check as many transactions as you like and import then all together: check the checkbox next to Imported at the top of the column to select them all!

If the transaction is new and not already manually entered in WorkingPoint AND you want to change the default category or something else:
Click the description link for the transaction and under Import Transaction choose a new bookkeeping account or make any other change and click Import Transaction.

You can also split up the amount of the transaction between different accounts. Just choose the first bookkeeping account and change the amount to the amount you want for that account and then click Import Transaction. The balance will show and the new balance will show and you can choose a new bookkeeping account for that amount and import or continue to split up the amounts until you hit 0.00.

If the transaction is old and already in WorkingPoint:
Skip the import process entirely OR click the Description link and click Disable Importing in the right hand sidebar. Disabling the transaction is an important step if you want to enable Auto-sync.

If the transaction was manually entered in WorkingPoint and you want to match them up:
Click the description link and scroll down to the Matching Transactions section. All possible matches will be listed here. Click Match next to the transaction that matches and the two transactions will be linked. If the matching transaction is a bill or invoice with an open balance, the payment will be applied to the bill or invoice for you.

For more info and step-by-step instructions on how to import transactions through our banking integration, check out our online Help Center topic. Stuck? Contact support for help!

Calling All Shopify Users!

Topic: WorkingPoint News | Comments Off

Posted on June 26, 2014 by Kelli Wall

Shopify logo

We are very excited to announce our latest integration with the web’s most popular tool for creating and running an online store. With over 100,000 stores online and over 4 billion sold through them, Shopify is one of the easiest and most affordable ways to connect with your customers online.

And so it was a natural for WorkingPoint to partner with Shopify to help their users manage the financial component of running an online store. With our almost instant setup process, you can import items and orders into WorkingPoint quickly and easily so you can manage your sales and inventory and report on your business finances for better management and tax purposes.

If you already run a Shopify online store, we would love to get your feedback on the new integration and your help in identifying other areas or features you would like us to incorporate into the integration. Email at support@workingpoint.com with your ideas! Let us know what you’d like to see added and how you use that feature and we’ll see what we can do to make it happen for you and other users.

For steps on how to set up your Shopify connection and import items and orders, check out our online Help Center.

Thanks!

Estimated Taxes due June 16

Topic: Taxes | Comments Off

Posted on June 4, 2014 by Kelli Wall

EstimatedTaxesJune2014

Estimated taxes for the April 1 – May 31 are due June 16.

Use WorkingPoint’s Estimated Tax Report to help you calculate what to pay and report on your IRS Form 1040-ES. The estimated amount it based on the data you already have in WorkingPoint, so if you are new to WorkingPoint, be sure to figure in any sales or expenses not included in your WorkingPoint account. In addition, be sure to subtract out any payments you have already made for the 2014 tax year from the Total Estimated Federal Taxes Owed for 2014 to get an estimate of the balance.

Learn more about the Estimated Tax Report in our online Help Center. The Estimated Tax Report is a premium feature and only available on the Thunderstorm account plan. Not on the Thunderstorm plan? Upgrade today!

Batch Processing for Invoices

Topic: How-to,Invoicing,New Features | Comments Off

Posted on May 28, 2014 by Kelli Wall

BatchProcessing
As the old adage goes, “time is money.” At WorkingPoint, we understand that. Instead of record-keeping, you could be selling more or creating more to be sold. That is why we created Batch Processing for invoices. With Batch Processing you can apply the same action to up to 30 invoices with just a few clicks. It’s pretty cool…log into your account today and check it out!

Here’s what you do:
To view the new actions you can apply to a batch of invoices, click the Batch icon batchIconat the top of the Invoices List. invoiceListIcons This is the same icon you chose when you wanted to batch print your invoices. Now, in addition to printing invoices in a batch, you can email them, apply a payment to them to pay them in full, and even delete them in a batch.

Just click the batch icon and then check the checkbox next to the invoices to select the invoices you want.

invoicelistcheckbox

Then click the plus sign next to the action to you want to apply and complete the options provided.

batchprocesses

That’s it! Email us at support@workingpoint and let us know what you think. If you have an idea for a new feature you would like to see, visit our online suggestion box at https://workingpoint.uservoice.com. To read more on the new feature, visit our online Help Center.

Article on NY Times Blog about WP and Zipmark

Topic: WorkingPoint News | Comments Off

Posted on November 4, 2013 by Working Point Team

WorkingPoint has been mentioned in relation to our partnership with Zipmark and going paperless! Read more about it here: New Options for Small Businesses Looking to Go Paperless

Articles of Incorporation: Downloadable Taxonomy

Topic: Business Management,How-to | Comments Off

Posted on August 6, 2013 by Working Point Team

Don Fornes, CEO of Software Advice; wrote up a great article on your Articles of Incorporation and how important it is to keep them in order. He has even put together a downloadable taxonomy into which you can place your files.

It is definitely worth a read: Do You Know Where Your Articles of Incorporation Are?

The file can be downloaded directly from here: Corporate File Taxonomy

How Google Makes its Money

Topic: WorkingPoint News | Comments Off

Posted on July 29, 2013 by Working Point Team

We came across this interesting infographic and thought we would share:

How Google Makes Its Money

Source: Best Accounting Schools

Small Business 911: The Merchant Cash Advance

Topic: Business Management,Growing Your Business,How-to,Managing Your Business,WorkingPoint News | Comments Off

Posted on July 22, 2013 by Working Point Team

Any entrepreneur knows that running a small business is exciting, partly because you never know what is around the corner. Unfortunately, sometimes the unexpected can turn into an emergency cash flow situation.

You never know when your business may need more working capital than you have on hand. Luckily, a merchant cash advance is one option that can help you deal with the unexpected while keeping business going as usual.

(more…)

WorkingPoint, Zipmark and Paperless 2013

Topic: WorkingPoint News | Comments Off

Posted on June 28, 2013 by Working Point Team

Following on from the previous post on our blog about our partnership with Zipmark here is a great article written by Carolyn Crummey at SmallBizTechnology.com:

Ready To Go Paperless? Here Are 7 Services From The Paperless 2013 Coalition That Can Get You There!

We are excited about the prospects this partnership offers to our users, allowing them to get paid efficiently and paperlessly! Also if you are interested in the Paperless 2013 movement here is the link for more info: Paperless 2013 Coalition

Thanks and happy invoicing!

WorkingPoint + Zipmark = Better Invoicing

Topic: Partnerships,Press Releases,WorkingPoint News | Comments Off

Posted on June 12, 2013 by Working Point Team

Today we are excited to announce our latest partner, Zipmark. Zipmark is the fastest, most efficient way to accept 100% secure digital check payments. With Zipmark, any business can accept payments in minutes and be sure that they won’t be faced with the complexity of merchant accounts, variable pricing, bad transactions or arbitrary delays. Now when you create an invoice from within WorkingPoint you have the option to be paid electronically, significantly reducing the amount of time it takes to close that invoice.

You can read more about the partnership and how to connect your account at the link below:

Connect Your Account with Zipmark

WORKINGPOINT PARTNERS WITH ZIPMARK TO HELP SMALL BUSINESS OWNERS REDUCE THE PROCESSING TIME OF PAYMENTS AND DEPOSITS BY AS MUCH AS 50%

According to Industry Reports, Small Businesses Spend More Than $7 to Process a Single Paper Check Payment; Zipmark Joins Paperless 2013 Campaign In Effort to Increase Use of Secure Digital Checks

NEW YORK – (June 12, 2013) – Zipmark™, a pioneer in mobile and online payments, today announced that it has partnered with WorkingPoint, a leading online small business management platform. Details of the partnership include extending Zipmark’s secured digital check platform to WorkingPoint’s entire customer base, which will allow their small business customers the opportunity to collect payments online by simply enabling the Zipmark’s digital check option within Working Point. By switching to Zipmark eChecks WorkingPoint customers can now get paid by their clients as early as the next business morning after submitting an invoice, rather than the extended timeframe involved with accepting paper check payments.

The primary purpose of Zipmark is to improve accounts receivables and payable for small businesses as many firms are still stuck using paper checks as a result of exorbitant transaction fees associated with other types of payment platforms. Zipmark’s transaction fee is only 1% with a $5 cap. With Zipmark digital checks, small businesses can literally send an invoice to a customer on a Monday and receive good funds deposited directly into a business’s operating account on Tuesday morning.

“WorkingPoint customers are a perfect example of how a small business can use Zipmark to get paid significantly faster and still keep checks as their #1 source of payments,” said Jay Bhattacharya, CEO and co-founder of Zipmark. “Paper checks aren’t bad, they’re just outdated when you consider how much easier, faster and safer a small business owner can get paid in today’s digital environment using Zipmark.”

“WorkingPoint works with thousands of small businesses that are still stuck receiving paper checks in the mail and so it was a very easy decision on our part to offer Zipmark to our customers,” said Paul Sednaoui, Director of Marketing at WorkingPoint. “Our customers are frustrated with the delays and the hassles of dealing with traditional payments. We decided to integrate Zipmark as a payment option on the invoices our customers create because Zipmark enables our clients to receive funds quickly and for a fraction of the administrative cost of processing paper checks.”

Zipmark Joins Paperless 2013 Coalition
Zipmark has joined an exclusive coalition of companies, including HelloFax, Google Drive, Fujitsu Scansnap, Expensify, Manilla, HelloSign, Xero, Eventbrite, Lemon, Nitro and Shoeboxed, to remove paper from “paperwork.” According to the US Environmental Protection Agency, the average US office worker uses 10,000 sheets of copy paper each year. In 2010, the amount of paper recovered for recycling averaged 334 pounds for each person living in the US, according to the American Forest & Paper Association. Many businesses still rely heavily on archaic paper invoicing systems that require a cadre of paper-based materials including envelopes, stamps, paper bills, paper checks, not to mention the extra resources required to maintain paper invoicing such as printer ink, use of the U.S. postal service and transportation required to send and deposit those paper checks.

To join the paperless movement and take the paperless pledge, please visit http://www.Paperless2013.org, where visitors can receive an email with links to a set of web services that, used together, can remove the need for ‘paper’ from paperwork. For more information, follow the paperless 2013 campaign on Twitter using #Paperless2013.

About Zipmark
Zipmark’s goal is to remove barriers between businesses and their money by bringing the checkbook into the 21st century: reducing the amount of time and money it takes to make a check payment, eliminating the possibility for bounced checks and taking all risk out of the equation for payer and payee alike. Zipmark was launched in 2010 by Jay Bhattacharya and Jake Howerton, and is based in New York City. To learn more about the company please visit www.zipmark.com.
Zipmark’s investors are Village Ventures, Contour Venture Partners, NYC Seed, High Peaks Venture Capital and the New York City Investment Fund.

About WorkingPoint
WorkingPoint, LLC. is an online small business management solution. Offering invoicing, tax reporting, inventory and expense management, and a business dashboard that allows our users to quickly gauge the state of their finances. WorkingPoint was founded in July 2009 by Tom Proulx, one of the individuals behind the creation of Quicken and QuickBooks.

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Disclaimer: Zipmark™ is a registered trademark of Zipmark, Inc. WorkingPoint™ is a registered trademark of WorkingPoint, Inc. All other copyrights and trademarks within the release are property of the respective brands.