Accounting

Accounting Tips

Top 10 Advantages of Moving to QuickBooks Online

Today, there are more units of QuickBooks Desktop used by small businesses than QuickBooks Online. However, did you know that 80 percent of new QuickBooks users are choosing QuickBooks Online vs. QuickBooks Desktop? Perhaps it is time for you to make the change.

While Intuit is still supporting Desktop, it is encouraging its users to embrace its online solutions. As… Continue reading

USING QUICKBOOKS’ INCOME TRACKER

You can get an enormous amount of useful information from QuickBooks’ reports, especially if you customize them to isolate the precise data you want. Reports included with the software range from the very simple, like Open Invoices, to output that’s exceptionally complex, like Trial Balance and Profit & Loss.

Warning: Standard financial reports like… Continue reading

Ten Overlooked QuickBooks Reports That You Should Use

Just about every QuickBooks user relies on the Report Center and Reports menu, but if you’re like most, you have a small handful of reports that you tend to rely on. In this article we’ll go off the beaten path and explore ten reports that many users overlook. Even if you are using some of these reports, we’re sure you’ll… Continue reading

RECURRING TRANSACTIONS IN QUICKBOOKS ONLINE

Save time and ensure that repeating transactions are processed as scheduled.

You know how much time QuickBooks Online already saves you. Customer, vendor, and item records need never be entered again once they’re created for the first time. Pre-built forms use your record data to complete transactions quickly and accurately. Customizable report templates provide real-time overviews of your financial status… Continue reading

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:

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