But be sure that you’ve established all the right settings and understand the process. If you used small business accounting products in the early days, you know how frustrating it was to print checks correctly from your software. Pre-printed checks weren’t cheap, and you probably printed at least a few that didn’t line up right [...]
Modifying the default template makes tracking easier, more accurate. Part of the reason for QuickBooks’ success is its exceptional flexibility. By allowing users to turn features and preferences on and off, the same software can be used by a wide variety of business types and sizes. In some cases, the default settings that QuickBooks supplies [...]
Interesting insight from my friends at BQE Software: Some of the best advice you’ll ever get is the stuff that goes against the grain, against all logic, against every fiber in your being. “Be calm if you encounter a bear,” “if you love them, let them go,” and “in case of an emergency, walk–don’t run–to [...]
Spring is a good time to clean up and slim down QuickBooks and its data. Depending on your location, you’re probably starting to see early signs of spring. The nicer weather and signs of new life seem to make people want to spruce up their surroundings. Now would be a good time, too, to [...]
You work hard for your money. Strong internal controls can keep it from disappearing unnecessarily. You trust your employees or you wouldn’t have hired them. That’s what everyone says as they watch a valued staff member being hauled off in handcuffs. But I trusted him. Whether your accounting tasks are done on one PC or [...]
By March 1 employers are required to notify employees of the following information: Must inform employees of the existence of a state individual exchange Describe the service the exchange provides The manner in which employees may request assistance with the exchange If an employee purchases insurance through an exchange, they may be eligible for assistance [...]
Now in 2013 the standard mileage rate has increased a penny, which is used to reimburse employees who drive their own vehicles for business. You may also use the rate to value the personal use of employees’ moderately priced (2012 amounts were $15,900 for cars and $16,700 for SUVs) company cars.
Using QuickBooks Mobile, you’ll improve business relations, put out fires before they start and unchain yourself from your office computer. There are only a few reasons why you wouldn’t be using QuickBooks Mobile on your smartphone. Maybe you don’t have a smartphone. Or when you’re out of the office, you don’t want to be [...]
We would like to remind you of the substantiation and reporting requirements that apply to the personal use of autos that are owned or leased by your corporation. It is important that you comply with these requirements to avoid the potential loss of deductions, plus penalties, and interest if you are ever audited.  First, [...]
Business Use The standard mileage rate for transportation or travel expenses is 56.5 cents per mile for all miles of business use (business standard mileage rate).  Charitable Use The standard mileage rate is 14 cents per mile for use of an automobile in rendering gratuitous services to a charitable organization under § 170.  [...]
Working with our CPA associate, we would like to remind you of the tax rules that apply to shareholders of S-Corporations who own 2% or more of the stock and receive certain fringe benefits. It is important that you comply with these requirements before year end, otherwise you risk the loss of your shareholder health [...]
Create item records in QuickBooks carefully, and QuickBooks will return the favor by running useful, accurate reports. Figure 1: Clearly-defined items result in precise reports. Obviously, you’re using QuickBooks because you buy and/or sell products and/or services. You want to know at least weekly — if not daily — what’s selling and what’s not, so [...]
Tired of QuickBooks’ cramped, claustrophobic screens and uneven interface? You’ll be pleased to see the 2013 version. You chose QuickBooks for a variety of reasons, a major one being its simplicity and usability. But the software is more than 20 years old now, and hundreds of features have been added over the years. QuickBooks [...]
It may seem like a no-brainer – cut expenses to make more money – but many small changes can result in significant savings. It looks like the economy may finally be looking up. Still, this is no time to loosen the purse strings in terms of your business expenses. Rather, why not re-double your efforts [...]
QuickBooks handles billable expenses capably, but it’s critical that you understand the process thoroughly before proceeding. Billing for inventory parts is easy. Pick the items from a list and specify a quantity. Poof. Done. Billing for costs, time or mileage is a little more complex. QuickBooks has built-in tools to help you do this, but [...]
If you make one resolution about improving your accounting procedures in 2012, it should be this: Make extensive use of the tools that QuickBooks offers for report modification. Comprehensive, meticulously-shaped reports that flow out of your carefully-constructed records and transactions are your reward for pounding on the keys every day, conscientiously recording income and expenses.
The IRS issued new reporting regulations for tax year 2011 1099-MISC form. These regulations will exclude some forms of payments from the 1099-MISC form; instead, the payments will be reported on the new third party form 1099-K.
The IRS issued new reporting regulations for tax year 2011 1099-MISC form. These regulations will exclude some forms of payments from the 1099-MISC form; instead, the payments will be reported on the new third party form 1099-K. If you have made payments to vendors in tax year 2011 you will only need to report certain [...]
Intuit has released it’s 2012 family of software and we are very excited about some of the new features for businesses with extensive inventory needs! Available in Premier and above: the new Inventory Center! all the important information right in front of you for each item! Only in QuickBooks Enterprise Solutions 2012 Add images to the [...]
Intuit is making some bold changes for the benefit of users with strong Inventory usage requirements! This year they introduce us to Enhanced Inventory Receiving! They have now introduced a functionality that has been in the mid-market products for many years and we applaud their efforts!!
That said . . . end user . . . . . PROCEED WITH CAUTION!!!!
Wondering whether your QuickBooks data file is healthy and working optimally? Take advantage of our Fall 2011 special offer: Free – 15 minute – Remote “QuickBooks Wellness” checkup appointment! Ask yourself: Are your reports returning the information you’re expecting? Do you have issues with the way the software is working? Have you checked your QuickBooks [...]
As it usually does this time of year, Intuit has introduced new versions of its Pro and Premier products. QuickBooks 2012 promises to help you get better organized, save steps, and acquire more in-depth financial insights.
QuickBooks offers two simple conventions that let you identify related data: classes and types. Classes are used in transactions. Types are assigned to individual customers, vendors, and jobs.
Next to payroll, paying bills is probably your least favorite task in QuickBooks. You don’t have to use this feature – you can keep stacking bills on your desk, scrawling the due dates on a paper calendar, and writing checks.
If you’re still operating this way, though, you’re missing out on the numerous tools that QuickBooks offers to track your accounts payable!
The IRS has evidently changed it’s mind about increasing the standard business mileage rate in light of the increased costs of gasoline etc. Effective July 1st through the end of December 2011 the new standard business mileage rate is 55.5¢
Effective July 1, 2011, the one percent sales and use tax rate increase that was approved with the state budget and effective April 1, 2009, will expire lowering the statewide base tax rate from 8.25 percent to 7.25 percent.
Every month, we provide information on how to better use QuickBooks. By implementing the best methods for managing your accounting data, you can actually improve your financial bottom line.
But . . . are you guarding all of that precious data? QuickBooks provides ways to help you. Some are automatic, but you have to initiate others.
Business Mileage Rate has increased from 2010′s .50¢ to 2011′s .51¢ (read on for more info)
For the first time in the history of Social Security (at least in my lifetime) the employee’s portion of the Social Security tax is NOT equal to the employer’s portion!! The employers are now paying a full 2% more into Social Security than the employees are contributing. (read on for details)
October 20, 2010    1:00 p.m. – 2:00 p.m. 990 Joshua Way ~ Vista (click for Map) Come and Learn about All the New Features & Benefits of Microsoft Office 2010 All Attendees to this Pre-Event Seminar Will Be Entered into a Drawing to Win a Free Copy of Office 2010, a $100 Visa Gift Card, and [...]
Where do YOU stand on the debate? Is access to Social Networking sites positively or negatively impacting your business?
Email communications to your team, customers and vendors all from within MAS! Eliminate the mountains of paper journals and registers (especially at month end)! Attach electronic documents to MAS transactions! and more . . .
Your ability to process credit cards may be at risk! If you store, process, or transmit cardholder data, you must be PCI-DSS compliant by July 1, 2010.  WHAT in the world is PCI-DSS? The five major credit card networks established the Payment Card Industry Data Security Standards (PCI-DSS) as a set of requirements for merchants [...]
Find out how to save 6.2% Social Security employer paid taxes for 2010 on new hires!!
The IRS’s National Research Program (NRP) isn’t as benign as it sounds. NRP’s are intensive, line-by-line audits, which are intended to give the IRS basement compliance data for future enforcement efforts. The Payroll NRP, which will be conducted by the IRS’s Small Business/Self-Employed Division, was scheduled to start last November, but actually will begin this [...]
Special Tax Treatment for your expenses! Business Start-Up Costs Start-up costs are amounts paid or incurred for: (a) creating an active trade or business; or (b) investigating the creation or acquisition of an active trade or business. Start-up costs include amounts paid or incurred in connection with an existing activity engaged in for profit; and [...]
One of the advantages of operating your own business is hiring family members. However, the employment tax requirements for family employees may vary from those that apply to other employees. Below, we point out some issues to consider when operating a husband and wife business. How spouses earn Social Security benefits A spouse is considered [...]
Why GOOD job descriptions will save you money I haven’t yet met the business owner who gets excited about writing an in-depth job description. Go figure! The most frequent excuse is that they don’t see the value in spending much time on it. The job description is your starting point when hiring and, later, in managing the [...]
You do everything right: keep customer data on a PC, have virus programs and regularly back up on an external hard drive. Then one day a pipe burst and you lose all your PC files. What do you do? One solution: keep data on a series (“cloud”) of remote servers at clout computing companies. Cloud [...]
Hyperlinks for checklists and more! More Resources. Here are other resources for your use at the end of the year. QuickBooks Year-End Center: Year-End Closing Closing Dates in QuickBooks (Part of Longer Tip) QuickBooks Payroll and Year End Enhanced and Basic Assisted Yearend Tune-up
Assorted Do’s and Don’ts Do withhold FICA on part-timers, including retirees. Even if someone who works for you part-time also has a full-time job where they have had 100% of their FICA withheld for the year, you must withhold the full amount of FICA from their pay. These individuals can obtain a refund of any [...]
Start-up costs are amounts paid or incurred for: (a) creating an active trade or business; or (b) investigating the creation or acquisition of an active trade or business. Start-up costs include amounts paid or incurred in connection with an existing activity engaged in for profit; and for the production of income in anticipation of the [...]
The more your company projects 6 “core values” to employees and customers, the more loyal they will be which means higher sales and lower turnover: 1.   Business and personal relationships that reflect trust. Trust reflects respect and confidence in the other person. The greater the trust, the easier it is to facilitate change quickly. 2.   Integrity.  This is the [...]
                                                                                                                                                                                  Across-the-board cuts can hurt future competitiveness: rebuilding an experienced staff, satisfied customer base market and efficient operation can take years. Here are some cures for the disease that don’t kill the patient: Identify and eliminate money-wasting activities-e.g., producing reports no one reads, having meaningless checks and balances. Ask managers which procedures, forms and functions [...]
The Oceanside Chamber of Commerce continues with the Business Success Series on Thursday, October 18, 8:00am to 11:00am. Take the Guesswork out of Hiring Employees! Presented by Jodi Coppens, AdvantEdge Accounting Solutions and Jim Plotkin, The Plotkin Group. In this session, you will learn… – The “true” cost of an employee. – Financial impact on [...]
When’s the last time you dedicated some time to actually thinking about and putting together a plan for your business? Imagine, thinking, instead of fighting the daily fires & battles! Do you spend more time planning your vacation than planning for your business?   A study published in the Journal of Small Business Management reported that [...]
