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:
- Variable expenses are tied to your revenues. Revenues go up, variable… Continue reading
Monitoring your business activities is a good “preventive care” approach to maintaining financial health. Here’s what to review.
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
|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|
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
QuickBooks Tips And Tricks: Make it Yours
No matter which version of QuickBooks you’re using, there are always ways to make your workday easier. As with any software, we tend to learn the features we need and not much more. But small changes in the way you operate can add up to significant time savings and more accurate files. If… Continue reading
Between mortgages, car loans, credit cards, and student loans, most people are in debt. While being debt-free is a worthwhile goal, most people need to focus on managing their debt first since it’s likely to be there for most of their life.
Handled wisely, however, that debt won’t be an albatross around your neck. You don’t need to shell out… Continue reading
This is a continuation of Break-even Analysis – Part 1.
In a service business, you’re selling time, so you take a slightly different angle than to retail or manufacturing business. As a general rule, a service business should calculate to bill an average of four to five hours a day. This does not look much, but it is… Continue reading
Yet another calendar? Yes. It’s a good idea to use QuickBooks’ calendar to stay on top of your financial transactions.
These days, some of us find ourselves updating multiple calendars. There’s the Outlook calendar or other web-based solution for scheduling and task management. Maybe a smartphone app to track to-do’s on the road, and a paper calendar as backup.
But… Continue reading
Accounting is about more than just numbers. QuickBooks lets you make documents available from within the program itself.
You could call QuickBooks a “green” computer program. It can conserve reams of paper by storing customer and vendor records, for example, emailing transaction forms, and accepting online payments.
Most small businesses are a long way from being “paperless offices,” despite the… Continue reading