News

Are You Using Chip Cards Yet?

April 18, 2016 by Yeo & Yeo

The major U.S. card companies — including Visa, MasterCard, Discover and American Express — voluntarily imposed a shift of liability for counterfeit "card present" transactions that went into effect for most merchants on October 1, 2015. (Gas stations with automated fuel dispensers have until October 1, 2017, before their liability on counterfeit cards will shift.)

As a result of this liability shift, brick-and-mortar stores are expected to upgrade their card readers and processing systems to accept chip cards, also known as Europay, MasterCard and Visa (EMV) cards. If a store fails to upgrade and accepts an in-store payment with a chip card using a magnetic-only ...

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Intuit Extends Fraud Liability Shift for QuickBooks Payment Users to Allow Transition to EMV Chip Card Readers

January 14, 2016 by Yeo & Yeo

Chip-enabled cards are now available in the United States after years of use in other countries around the world. EMV, the new credit card payment standard, is meant to make credit transactions more secure. "EMV" stands for Europay, MasterCard, and Visa, who are the developers of this standard. Although EMV does not represent Discover or American Express in its name, the two are also participants in the new payment standard.

On October 1, 2015, all credit card companies transitioned to chip-enabled cards and have made them available to their users. In the past, liability risk for fraudulent...

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QuickBooks Desktop 2016 Now Available

November 20, 2015 by Yeo & Yeo

QuickBooks Desktop 2016 is now available for purchase or download. Many new and minor improvements to the program's interface and features were implemented with this new release.

The key features of QuickBooks 2016 are easily tailored to your industry.

  • "Bill Tracker" provides a dedicated dashboard to view data for purchase orders and bills.
  • Instant view of the money-out in "Bill Tracker" without having to run reports.
  • Bulk clear is now available to delete or void multiple transactions.
  • New reporting features that allow for advance filtering...

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Sowatsky and Stensrud Achieve National Social Security Association Advisor Certification

November 17, 2015 by Yeo & Yeo

Yeo & Yeo CPAs & Business Consultants is pleased to announce that Eric J. Sowatsky, CPA, CGMA, and Tara L. Stensrud, CPA, have achieved the National Social Security Advisor certification from the National Social Security Association LLC in Cincinnati.

The certification allows Sowatsky and Stensrud to counsel clients on the best way to claim Social Security benefits in order to optimize lifetime Social Security income.

Sowatsky specializes internal control reviews, business consulting, financial reporting and tax planning issues, with an emphasis in agribusiness. He is the leader of Yeo & Yeo’s Agribusiness Services Group, and a member of the firm’s State and Local Tax Group and Health Care Reform Group....

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QuickBooks 2012 Service & Support Discontinuation

May 22, 2015 by Yeo & Yeo

Live technical support and add-on business services such as payroll, credit card processing and online banking will be discontinued for QuickBooks 2012 products and Point of Sale 10.0 as of May 31, 2015.

After this date, payroll tax calculations will be incorrect, you will be unable to send payroll for processing including direct deposits, and payroll subscriptions will be deactivated. Annual Support Plans will work until your current subscription runs out. (View Intuit's Discontinuation FAQs and all the products and services affected by the service discontinuation.)

To purchase a new version of QuickBooks and avoid interruption to your service, call your Yeo & Yeo professional or a member of Yeo & Yeo's Client ...

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