While this automation can save a lot of time classifying transactions, it could also result in misclassifications if bank rules are applied carelessly.  For example, if both office supplies and fixed assets are purchased from a payee, additional conditions may be required in the bank rules so that transactions are classified correctly.  In the screenshot below, I created a bank rule so that amounts less than $500 spent at Best Buy are classified as office supplies expense (I’m using this amount as an example – consult your tax advisor to determine if a transaction should be expensed or capitalized).

On the reconcile screen, Xero prompts me to apply the rule for the amounts less than $500, but not for the $1,053.62 which may need to be categorized as a fixed asset.  That transaction is left open, forcing me to investigate it further and properly classify it.

Here are a few things I like about Feedly:

• It was easy to sync with my Google Reader account.  I just entered my Google password and allowed Feedly access to it.
• In addition to the mobile apps, Feedly has a Chrome extension for reading from a desktop or laptop.  The Chrome extension has a great interface for organizing feeds and has several viewing options.
• It looks and feels similar to Google Reader, so there is not much of a learning curve.
• The mobile app has day and night themes.
• The mobile app opens web pages within Feedly and there is a tool to “remove clutter” that cleans up much of the web page content except for the blog post text.

A couple of drawbacks of Feedly are:

• The Android “back” button often closes the app, whereas it would return to the list of feeds in Google Reader.  It’s just something I’ll have to get used to.
• The shortened URLs start with feedly.com, making them slightly longer than bit.ly and Flipboard’s flip.it.

I am a big fan of Feedly’s Chrome extension.  On mobile devices, I prefer Flipboard’s navigation, but Feedly’s app has some great features and settings as well.

Tim Gavin commented on my last post that he uses Flipboard for reading news and Feedly for reading blogs.  I agree with his assessment that Flipboard feels like reading a newspaper while Feedly is a more natural fit for reading blogs.  Tim’s suggestion is a home run.  Instead of choosing one or the other, I’ve decided to use a combination of the two products.

Maybe I won’t miss Google Reader as much as I thought I would.

Twitter conversations immediately commenced in search of a replacement reader app.  Flipboard was highly recommended.

After I read that tweet, I decided to rethink my life.  So, I went home and downloaded the Flipboard app.

I signed into my Google Reader account via Flipboard and was pleased to see all of my subscriptions there in a beautiful newspaper-like format.  The app makes it easy to go from one article to another with a “flipping” motion similar to flipping the pages of a book.

The below screenshot shows what my blog looks like in Flipboard.  On both my Galaxy Tab and Galaxy Note II, I’ve found it to be an impressive reader app.  Most impressive.

Another reader app that I plan to test out is Feedly.  If you have any other suggestions, please leave a comment.

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 features introduced in December 2012 and is a small step into the exciting world of Social Accounting.

The Samsung Galaxy Camera combines its 21x zoom and 16 megapixel sensor with the features of a tablet (4.8 inch touchscreen and Jelly Bean).  Engadget has a detailed review.

Soon, high definition just won’t be good enough.  The TV in this picture has 4K resolution, or 3,840 by 2,160 pixels.  This is about four times the resolution of 1080p (1,920 by 1,080).  There was a noticeable difference in image quality when comparing TVs with the two resolutions side-by-side.

Coming soon is a device from Delphi and Verizon that will plug into most cars and allow the user to track and monitor a vehicle through a web browser or mobile app.  The device keeps a history of the dates and miles driven for each trip.  This may be a helpful tool for business owners to keep a mileage log.  Plus, it includes a GPS and is a great way to keep track of your teenager.

3D printing is a technology I have heard about in the past couple of years, but it was amazing to witness it in person.  Check out some objects on Makerbot.com that have come from 3D printers.

I saw Fujitsu’s new ScanSnap iX500, which has built-in Wi-Fi connectivity.  Using the ScanSnap Connect Application, a scanned document can be sent directly to a mobile device connected to a network.

Also, I’m very happy with my new Samsung Galaxy Note II smartphone.  Despite putting it through a full day’s work at CES checking e-mail and taking pictures, it has 41% battery life remaining.  It is great not having to pack a charger.

For example, I set up an automatic monthly payment on my bank’s online banking site for a recurring expense with a fixed amount.  The bank sends the payment with a paper check.  Xero does not import a payee or description for these particular transactions.  Xero imports the amount of the check and “CHECK #XXXX” for the reference.  Even with this limited criteria, these transactions can be automatically categorized with the rule shown in the screenshot below.

Creating the automatically categorized transaction in Xero and reconciling it then becomes as easy as clicking on the “OK” button.  Though setting up the bank rules takes some time on the front end, it saves a ton of time in the long run.

I have taken a different approach after reading a few blog posts by Joel Ungar in AccountingWEB.  Joel is a principal with Silberstein Ungar, PLLC in the Detroit area and a CPA who really understands social media.

Like me, Joel sometimes receives LinkedIn connection invitations from people he doesn’t know with the generic text, “I’d like to add you to my professional network.”  However, he doesn’t ignore all of them.  He has a rule for requests from the Detroit area: if he meets them first, he’ll accept.  He replies to invitations (without initially accepting them) to explain his rule and suggest meeting for lunch, breakfast or coffee.  Joel says that he has developed some great relationships from this rule.

Be sure to read Joel’s excellent advice for how to make a connection on LinkedIn.  He also has several examples of how NOT to make a connection on LinkedIn (sales pitch, not taking time to learn about a person, and starting a relationship with a falsehood).

Many of his replies to LinkedIn invitations go unanswered, which is unfortunate.  He is a nice guy and fun to talk to.  I met Joel briefly last year when he came to Las Vegas for a conference and look forward to meeting up with him again next month.

If you’re ready to make a LinkedIn connection the right way and you’re willing to meet in some shape or form, you can find me at http://www.linkedin.com/in/dustinwheeler.

On my desktop computer, I clicked on the “attach image of receipt” link while adding a new expense.  A “choose file” button appeared below the link, and after I clicked on it, a file explorer window opened.  I navigated to the file’s location on my computer and double-clicked it.  That was easy enough to meet my expectations.

After tapping my finger on the “attach image of receipt” and “choose file” buttons on my tablet (a 10.1″ Samsung Galaxy Tab 2), it prompted me to select an action from several options as shown in the screenshot below.  I chose the camera function.  After I took a picture of the receipt, it was automatically uploaded and attached to the expense in FreshBooks.  I don’t think it can get any easier than that!

My smartphone, which runs on Android, is capable of doing the same thing as my tablet.  However, I can’t quickly launch FreshBooks, enter the details for a new expense and attach a receipt with my smartphone’s small screen and cellular connection.  My solution is to use Evernote, one of my favorite mobile apps for taking digital notes.  The Evernote widget includes a camera button for quickly uploading pictures.  I uploaded a picture of the receipt with the Evernote app on my smartphone, and when I was later on my desktop computer, I downloaded the image from Evernote’s web application.  I then went to FreshBooks, added a new expense and attached the receipt image.

If you have questions or are seeking the help of a FreshBooks Certified Beancounter and CPA in Las Vegas, please feel free to contact me.

The tablet fills a unique role among the other devices I own.  It is more portable and boots up faster than my laptop.  The larger screen makes it a much better device for viewing web pages and PDF files than my phone.

Unlike my desktop and laptop computers, the tablet is not an ideal device for working and typing.  It is not as portable as my phone, which follows me everywhere like my shadow (my tablet won’t be so lucky).  However, its characteristics make it my preferred device for consuming web content.  Up to this point, I have used my tablet primarily for reading news, books, blogs, and other social media.

Although I use Google Reader for most of my online reading, I have discovered Google Currents to be an awesome app as well.  Google Currents puts my reading material into a newspaper or magazine-like format, adapts the content to the screen size of a tablet, and makes it available offline.  See the below screenshot of one of my favorite tax blogs, the Roth & Company Tax Update Blog by Joe Kristan.  How do you like the layout, Joe?

1. I love maps!  The Demographics-Location screen shows that my blog has nearly spanned the globe.  It’s no surprise that the United States is the darkest shade of green, which means that it is the country with the most number of visits.  The countries in grey have yet to make a visit.  I am still waiting for Greenland to turn green.  If you have friends there, send them my way.
2. It is always interesting to see the search keywords used to get to my site.  “Should I…” is a very common search phrase.  Sure, I can explain how to enter credit card charges correctly into QuickBooks, but don’t expect too much more from me.
3. Below is a graph showing the value of my investment portfolio.  Just kidding!  The graph shows the number of daily website visits.  It is satisfying to see an increase in web traffic over time.  This is a good lesson for people just starting to blog to not be discouraged by low numbers.  Loyal readers, links from other sites, and search results accumulate over time, so don’t give up!