Written by For small business owners, time is one asset that there can never be enough of. Sometimes, often in fact, these also eat into the evening and the weekend. This is a fact that employed friends rarely realize when they envy the ‘freedom’ that your self-employed status suggests! One area for all of us that can take up considerable amounts of our unpaid overtime is the accounting. While employing an accountant can help to make this task easier, simple accounting software can also help. One of the leading small business accounting software providers has just launched their 2013 issue and Intuit, the people behind QuickBooks, have shown that they truly understand the main concern of many small business owners – the streamlining of all and any administrative tasks.
READ MORE »Posts in category Bookeeping
Mileage tracking With BizMile Tracker
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Tweet If you use your car in your job or business and whether you use it regularly or irregularly for that purpose, you may deduct part or the entire cost of its operation (subject to limits – of course). However, if you use the car for both business and personal purposes, you may deduct only [...]
READ MORE »Tracking Your Expenses – the Tech-Savvy Way
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Tweet It’s a smart idea to track your expenses. It lets you see where your money goes, how you’re spending it and helps you figure out how to most easily cut back. Yet most people find expense-tracking tedious: Keeping all your receipts and diligently recording everything you spent money on – even tiny purchases – [...]
READ MORE »Keeping Track Of What You Owe with Loan Manager
Tweet QuickBooks Tip: Unless and until your business is swimming in cash, there will come a time that you have to make a big purchase and *gasp* get a loan. The horror. So now that you’ve done what you had to do by getting a loan for that big purchase, you have to keep track [...]
READ MORE »How To Handle Bounced Checks
Tweet QuickBooks Tip: Admit it. Bouncing a check is annoying and embarrassing. The bank charges a fee for every bounce, you rack up the fees and you have to tell people when to re-deposit the check or write them a new one. When you get a rubber check from a customer, it’s just as annoying… [...]
READ MORE »Ask For Help
Tweet It’s such an easy thing to do and yet our pride steps in and makes asking a simple question seem like lifting a 2 ton brick. Can you help me? I love when people ask me for help. It is so flattering. It means they think I actually know something. That’s how MOST people [...]
READ MORE »Analytical Review
Tweet At this point we have completed the initial review of the Balance Sheet and Profit and Loss statements in QuickBooks. So now it is a matter of double checking things from a different perspective and as we are more and more convinced that the books are complete, accurate, and fairly reflect the financial position [...]
READ MORE »Review your QuickBooks File
Tweet – Balance Sheet and P&L Now that you have allowed yourself the time, you can take your time reviewing your Balance Sheet, Profit and Loss, and even your Statement Of Cash Flows In QuickBooks. This is a crucial step in tax planning with QuickBooks so that by the time you turn your books over [...]
READ MORE »Start Reviewing Your QuickBooks File Now
Tweet The biggest problem we all face when it comes to QuickBooks and tax planning is waiting until the last minute. There are so many obvious reasons why it is better to do it early so let’s focus on one, maybe not so obvious but very important reason. I know many people like to say [...]
READ MORE »The Importance of Good Recordkeeping
Tweet Benjamin Franklin said: “An ounce of prevention is worth a pound of cure.” When it comes to record keeping, the inventor could not have been more correct. Earlier this year Joplin Missouri was devastated by a tornado that destroyed a big part of the town. I had a chance to visit there (I took a truck [...]
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