We know December is a busy month. However, take some time now to make sure QuickBooks is ready for 2020. Yes, it’s here again: the end of the year. You probably have a lengthy to-do list full of tasks that must be done before December 31. There’s one task—or rather, a series of tasks—that… Read More

A while ago I had the opportunity to be a business consultant for a company. The company was facing with major disorganization in the accounting department that transcended to other areas impacting the operational efficiency, as well as, profitability of the company. Primarily, the strategy was not clear, it was either confused or ambiguous. Hence,… Read More

If your business is required to collect and pay sales taxes, you can use QuickBooks’ tools to help you meet those obligations.   Next to payroll, state sales taxes represent probably the most complex element of your accounting tasks. QuickBooks can help with the mechanics, but there’s a lot you need to learn before you… Read More

Ibanessa Hogan 08/30/2019 Most small businesses start operating without having a roadmap that can guide them through the whereabouts of doing business.  Questions such as: Should I expand my product line or should I reinvent the services that I’m already offering? Do I know my Strengths, Weaknesses, Opportunities, and Threats (SWOT)? Should I stop offering… Read More

If your business pays a lot of bills, you need an efficient system for staying current with them. QuickBooks’ Bill Tracker provides that.  Bill-paying may be your least favorite accounting activity. You definitely know how those checks and online payments affect your account balances, but it’s more than that. Staying up to date with your… Read More

If your business pays a lot of bills, you need an efficient system for staying current with them. QuickBooks’ Bill Tracker provides that. Bill-paying may be your least favorite accounting activity. You definitely know how those checks and online payments affect your account balances, but it’s more than that. Staying up to date with your… Read More

A Cash Budget is simply a way of keeping track of your incoming flow of money and your disbursements (outflow) per month or week. It’s a real-time inflow and outflow cash management system. It is not a budget, budgets have another purpose, besides they are static. You can use an Excel spreadsheet, like the image… Read More

Do You Need to Bundle Products in QuickBooks? Create Assemblies  If you frequently sell multiple inventory items grouped together, you need to learn about QuickBooks’ assemblies.  Let’s say you run a home improvement retail outlet, and one of the things you sell is doors. You might sell their parts—door frames, hinges, doorknobs, etc.—individually, in case… Read More

For the financial information to be accurate, particularly for the investors who will rely on it to the extent of making investment decisions, companies include noncash items in their accounting reports. This is particularly true when using the accrual method of accounting. There are several noncash items like deferred income tax, stock-based compensations, among others.… Read More

You’re accustomed to money going in a certain direction, but sometimes you have to pay your customers. Here’s how it’s done.  QuickBooks is very good at helping you get paid by your customers. It comes equipped with customizable invoice templates for billing customers and sales receipts for recording instant sales. It supports online payments, so… Read More