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Vol 6 No. 3 March e-Newsletter
Greetings!

Welcome to this edition of the free e-Newsletter brought to you by AdvantEdge Accounting Solutions.

Every month, we strive to bring you news, reviews, tips, and ideas to help you get the most out of your accounting software and help keep your business running smoothly!

Please feel free to forward this e-Newsletter to colleagues you feel might benefit from this information.

Sincerely,
Jodi Coppens

Build up your weaknesses until they become your strong points. - Knute Rockne

2008 ECONOMIC STIMUS PACKAGE BENEFITS
  Considering major purchases?

If you have been considering major purchases of business machinery or equipment, 2008 may be the year to take the plunge. The economic stimulus law recently signed by the President creates generous new up-front writeoffs for 2008 purchases. So the dollars you spend this year will produce immediate tax savings.

As you are undoubtedly aware, business equipment and machinery has traditionally been written off through depreciation deductions claimed over a period of years, ranging from as few as three to 20 or more depending on the property. However, a limited amount of property can be written off immediately through the so-called "expensing" deduction.

A HANDY GUIDE TO FINANCING ALTERNATIVES
  Debt vs Equity

When should your company use debt vs. equity? Here are the choices:

Debt financing includes:

A line of credit
Your bank keeps a set amount of money available for your firm. You pay interest on the amount drawn and, usually, a "commitment fee" of 0.5%-1% on the total amount, which can be waived if you maintain a minimum balance. Lines of credit can be nonbinding (inexpensive but if your business slumps, there is no guarantee that the funds will be available), committed (guarantees availability but may entail a fee of 2% on the portion not borrowed), or revolving (requires annual review and renewal).

SAGES BUSINESS MANAGEMENT & PAYMENT SERVICE
  New Credit Card Processing Module from Sage

Continuing the company's ongoing integration of market-leading business management applications, Sage Software announced a new Sage MAS 90 and Sage MAS 200 Credit Card Processing module.

The new credit card processing module is powered by Sage Payment Solutions, giving Sage MAS 90 and 200 customers the benefits of a comprehensive business management solution coupled with the profitability of credit card processing, all from Sage Software. In addition, the Sage MAS card processing system is managed by the Sage Payment Solutions Division rather than through a third party, resulting in lower credit card processing fees for customers.

NEGATIVE INVENTORY & QUICKBOOKS
  QuickBooks uses an average cost basis

Situation

You are seeing negative inventory. If you find negative inventory numbers, any Profit and Loss (and many other reports) will not be correct.

Background

QuickBooks uses an Average Cost Basis when calculating inventory value. This is why you should never, never, never let inventory go negative.

POINTS TO REMEMBER
  Workman's Comp

Avoid the last minute two setup
Asking for a renewal quote on your workers' comp policy a month before it expires will give you peace of mind. The problem is you may not get it. Insurance agents may be unable or unwilling to give you a number until the day before your policy renews. If so, consider shopping around to get competing quotes. This way, you'll have options if you do not get the number you like and have only 24hours to make a decision whether to accept the quote.

Workerscompinfo.com

  • Latest news and events
  • Online resources for WC
  • Special Reports & Articles
    • BENEFITS OF USING YOUR SOFTWARE
      Including credit and collections

    As the U.S. economy appears to hover on the cusp of a recession, companies cannot afford to carry outstanding receivables for long - but may hesitate to turn directly to a collection agency.

    We'd like to help you understand the benefits of using your accounting software for business processes: including credit and collections.

    Bringing Business Processes into QuickBooks.

    It is our goal to make QuickBooks work for our clients. We encourage our clients to think of anything they are currently doing outside of QuickBooks and let us know what it is. Together, we often come up with a solution through a software feature without the client having to do double work!

    Our clients use QuickBooks to manage their businesses, preparing data for tax returns for corporations, partnerships and individuals, as well as financial reporting and sales tax returns for businesses - all tasks facilitated by functions within QuickBooks.

    TIP'S & TRICKS
      Improve QuickBooks Startup Time

    You find that QuickBooks is taking too long to load and then open a company file.

    How you deal with company files may save you some time when next launching QuickBooks. If you are not already following these practices, try them now and see if they improve future startup time.

     

    Contact Information

    phone: 760-722-6839