QuickBooks Online Reports

They’re one of the rewards you get for your conscientious accounting work: reports. Are you using them to make better business decisions.

What do you see when you log on to QuickBooks Online? Your most important business numbers represented by real-time charts. Profit and loss. Income and expenses. Sales. And all of your account balances.

This is a great way… Continue reading

Recording Simple Expenses in QuickBooks Online

Tracking even the little expenses is important.

How does most of the money you owe individuals and companies get disbursed? Do you print checks, or write them by hand? Use credit cards? Pay online through your bank’s website?

Keeping track of your outgoing funds can be challenging, since there are so many ways to complete those transactions. However, it’s… Continue reading

Using Custom Fields and Classes in QuickBooks Online

QBO’s tools are generic enough that myriad businesses can use it. However, custom fields and classes help you shape it to meet your specific needs.

Small business accounting is not a one-size-fits-all proposition. Your company is unique in that sense; you have your own customers and products, vendors and services. Your requirements for your accounting application—what it must do… Continue reading

Deducting Travel & Entertainment Expenses

Tax law allows you to deduct two types of travel expenses related to your business, local and what the IRS calls “away from home.”

  1. First, local travel expenses. You can deduct local transportation expenses incurred for business purposes such as the cost of getting from one location to another via public transportation, rental car, or your own automobile. Meals and… Continue reading

Your First Hour with QuickBooks Online

Whether you’re just launching a business or you’re going online with an existing company, take some time to get acquainted with QuickBooks Online.

Your first hour with any web-based application is probably spent exploring and clicking buttons, links and other navigation tools to get the lay of the land.

QuickBooks Online should be no different. In fact, it’s even more… Continue reading

Break Even Analysis

A break-even analysis explores the relationship between expenses and revenues. Revenues are the amounts you earn for selling your product or service. Expenses are your operating and production costs. But before we start figuring at what point we can break even, let’s go back over some accounting terminology:

Custom Fields and Classes in QuickBooks Online

QuickBooks Online tools are generic enough that myriad businesses can use it. But custom fields and classes help you shape it to meet your specific needs.

Small business accounting is not a one-size-fits-all proposition. Your company is unique in that sense; you have your own customers and products, vendors and services. Your requirements for your accounting application—what it must… Continue reading

Keep Your Business Healthy With A Comprehensive Annual Checkup

Monitoring your business activities is a good “preventive care” approach to maintaining financial health. Here’s what to review.

Accounting Records

Are your accounting records supplying the data necessary for making sound decisions? A change in software might be the right medicine for your business. Clean up your accounts receivable and collect past due balances. Verify that your vendor records are… Continue reading

Tax Calendar for Businesses & Self-Employed

 

January

Tu 17 Pay the final installment of your 2016 estimated tax – use Form 1040-ES.
Tu 17 Farmers and fishermen: Pay your estimated tax for 2016. Use Form 1040-ES.
Tu 31 Individuals: File your tax return if you did not pay your last installment of estimated tax by Jan 17th (see Form 1040-ES)
Tu 31 File Form W-3… Continue reading

Year-End Closing Checklist

As this year comes to an end, below is a checklist for year-end closing.

  • Get Organized – Finding all of your receipts for any deductions you may be claiming on your tax return.
  • Review Personal Bank Statements – For any business charges you paid for out of your personal account.
  • Review Business Bank Statements – For any personal charges and… Continue reading

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