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It is nearly impossible to process payroll effectively without an understanding of what payroll really is. A basic definition of payroll is the total wage paid by a business to its workers. Typically your payroll is your largest and most complicated monthly expense. Payroll is complicated because it is more than just the wage your […]
For many entrepreneurs and small business owners managing their business’s finances is their least favorite task. Keeping track of all of your financial data coupled with pulling reports and analyzing your cash flow can be daunting, especially for those who don’t excel in math. The good news is you don’t have to be a financial […]
Revenue projections are critical to the success of any business. Accurate projections not only help you plan for the future and secure investor funding, but they can also be used to keep track of your success. However, bad revenue projections can be detrimental to your business and your future success. Here are 7 revenue projection […]
For many small businesses an Excel spreadsheet is their go-to for business accounting. They use the sample business budgets and other pre-made formulas to keep track of their business finances. This might seem like a great option because Excel is typically free to use, but it is actually a dangerous decision for the future of […]
The vast majority of small business owners waste hundreds of hours a year attempting to manage their business finances, which can be incredibly frustrating. You will be doing yourself a big favor by hiring a small business accountant to be a part of your team. Here are 7 reasons all small businesses should hire an […]
States across the United States are passing legislation to increase the minimum wage. The federal minimum wage hasn’t budged from $7.25 per hour since 2009, but states from Washington to South Dakota, California and Alaska are raising their own standards. Many states are now paying their lowest paid employees at least $15 per hour. With […]
Nearly 75 percent of small businesses are structured as sole proprietorships. This is because, in general, sole proprietorships are easy and inexpensive to form and maintain, and you won’t be required to separate your business and individual tax returns. But despite these great benefits, a sole proprietorship can actually hold you back as your business […]
Running a small business is both filled with joy and worry. As your business enjoys success you might start to consider opening additional locations or broadening your products or services. Before you make the jump to expand lets take a look at some of the pros and cons of scaling your business. First, lets start […]
Working for a client without using a contract is a quick way to get into big financial trouble. Having a contract in place is not only essential to ensure you get paid for all of your hard work, but it can also help you get paid more quickly. That’s why this article will go over […]
As the weather outside gets nicer your thoughts might drift to your summer travel plans, but there are 5 items to add to your to-do list before busy season begins for your business. This is especially important as the National Retail Federation predicts that retail sales will pick up dramatically later this year. Here are […]
Whether you have been in business for years or you are just getting started, money can be hard to come by. Here are 10 tips to help you cut down on business expenses and maximize your profit margin: Skip The Snail Mail Save on the high cost of snail mail by communicating electronically with your […]
If you have customers that perpetually miss the payment deadline you might be wondering if you should include finance charges on your customer invoices. Many business owners opt out of this policy due to fear that a customer might become angry and refuse to do business in the future. However, the reality is that customers […]
Whether you drive your personal car frequently for business or only occasionally, you might be wondering if you should be tracking your mileage. Claiming a deduction for mileage can be a simple way to get a break on your taxes. However, the IRS is known to flag mileage deductions for audits because there are rigid […]
Being your own boss has some big benefits, but it also comes with some difficulties – especially when it comes to your taxes. This article will focus on how to easily prepare taxes when you work for yourself. The first thing you need to know is what forms you need to file. Here is a […]
For most entrepreneurs securing financing for their business is at the top of their list of concerns. Here are 3 steps to getting financing for your small business: Prepare The first step you need to take in order to get financing for your business is to begin separating your business finances from your personal finances. […]
Tax season is coming up fast and now is the time to begin preparing 1099 forms for your independent contractors. Any contactor that has received $600 or more in payments from you will need to be issued IRS Form 1099-MISC for their taxes. While this process might seem complicated, you will find that it is […]
One of the keys to running a successful business is the ability to invoice in a way that gets you paid more quickly. Cash is king and without consistent cash flow, your company will almost certainly go out of business. The bottom line is you can’t pay the overhead costs that keep your business running […]
All small business owners are cash strapped and looking for ways to cut costs wherever possible. But one of the areas you should never skimp on is your bookkeeping. Most small business owners spend an abhorrent amount of hours each week trying to manage their business’s books. This problem can be easily remedied by hiring […]
No matter how great your business idea is you won’t be able to stay in business if you can’t bring in income over the long-term. You can use these 5 ways to determine your income potential to help you discover whether or not your new business idea can thrive over the next five, ten or […]
This article will go over 5 common payroll mistakes you can’t afford to make. This is important because implementing solid payroll practices now will save you from costly IRS penalties, lawsuits and back taxes in the future. You have to ensure your company is following all state and federal regulations, even if you hire a […]
Whether your business is in its first year or you have been around for decades, you can use this guide for keeping track of your business’s financial health. Every business wants to generate more cash flow, and a solid understanding of your business’s financial health can help you get there faster. If mathematics isn’t your […]
The first year in business is incredibly challenging. Your schedule will be jam-packed and you will feel like you never have enough hours in the day. When your schedule is too busy not only will your business suffer, but so will you and your family. This article will focus on 10 ways to survive your […]
Nearly any business owner knows the basics of why inventory control is important, but you might not realize that true inventory control includes knowing a lot more than the amount of product you have. To have control over your inventory you need to know not only how much product you have in stock but where […]
There are far more than five reasons you should use QuickBooks for your business. But in order to keep this article short, we will focus on the five biggest ways QuickBooks can help you get a better handle of your daily accounting operations. QuickBooks can help you streamline your business accounting no matter what industry […]
If you own a small business or have ever thought of opening one, you have probably asked yourself how much a small business owner should be paid. While this might be a question that’s a bit uncomfortable to answer, the reality is that we all have bills to pay and an income is necessary to […]
There are countless reasons why your POS system and accounting software need to be integrated. Imagine you are in the midst of your busiest part of the day and your system goes down. Or imagine that you are at home one night when your shift manager calls panicking about a specific transaction. These are real […]
Intuit has developed QuickBooks Self-Employed, which helps freelancers get paid more easily and more quickly. This version of QuickBooks allows the self-employed to create invoices and input information either via the Internet or using Intuit’s mobile app. Intuit’s research shows that invoicing is the most requested feature for self-employed QuickBooks users. This is important because […]
Fraud has become a big problem for businesses today, so let’s take the next few minutes to look at 7 ways to prevent fraud in your business. Has your business been untouched by fraud so far? That probably won’t be true for long. In fact, a recent study shows that the average small business loses […]
Even though tax season isn’t upon us quite yet, you might be wondering what the consequences of missing the tax deadline are. Missing the deadline can lead to extra fees and penalties, so it is important to know what the tax deadline is and what the consequences are if you can’t meet it for whatever […]
Knowing the difference between forecasting and budgeting is an important part of running a business effectively. While these two terms are usually linked together, they are certainly not the same. Here is a guide to help you understand the difference between forecasting and budgeting and how both can help you grow your business. What Is […]
Many small businesses jump into choosing an accounting software system before taking the time to really consider their options. There are a lot of software systems available on the market today that each offers slightly different benefits and user capabilities. Before making the jump to either an upgraded version of your current software or moving […]
A good POS (Point-Of-Sale) system is a critical element to running a successful business; that’s why we are offering a guide on how to choose the best POS system for your business. You need to look at your POS system as more than just a computer system that processes your transactions. It is actually the […]
According to a recent study performed by Intuit, an increasingly large number of entrepreneurs are using apps to grow their businesses. In fact, the study showed that at least 64 percent of businesses now use cloud accounting systems (such as QuickBooks) and accompanying web-based apps. These business owners are also saying that they see how […]
One of the most common misconceptions about how to report internet-based sales tax is that online sellers aren’t required to collect and pay sales tax. In reality, 45 states (including D.C.) have all adopted a sales tax. Online retailers that have a sales tax nexus (e.g. a major presence) in that state are required to register with the state’s taxing authority and remit the appropriate sales tax from buyers located in that state. Of course this is true for today, but if an internet-based sales tax law is passed tomorrow, it could get much more complex.
Intuit has its own app center where you can explore the many options available to help you maximize your use of the world’s number one accounting program. The app center allows you to amplify your accounting program to a complete business management system. The app center is convenient, offering you the opportunity to add important […]
If you are not already taking advantage of the many great Press Release tips available, you are definitely missing out. An effective press release that is sent to the appropriate media can generate a lot of traffic and bring the online visibility needed to take your brand or business to the next level. If you […]
One of the best ways to reach your target audience is to market your new business offline. Many people in today’s day and age believe that you can only get results through digital marketing. And while this is true for some target markets, often the best marketing happens when you take your efforts offline. If […]
Networking is crucial to the success of any small business, and that’s why this article offers a simple guide to better networking. Why is networking so important? It helps to establish meaningful connections and key relationships with other area businesses. Networking gives you a direct line of communication with decision makers and key business owners […]
Navigating sales tax is tough for many business owners. It can be difficult to understand and to implement correctly. It is even more challenging for businesses in e-commerce because of the complications related to what items are and are not taxable, which department is actually collecting the tax, or if tax should even be collected […]
If your business is operating with an old POS system that doesn’t accept chip cards yet, you are not operating with one of the best POS systems available. Plus you are opening your business up to fraud. Does your POS system currently only accept magstripe credit cards? Then your system is too old. Today the […]
The ability to access your business’s financial records from anywhere via the Internet is causing many to want to make the jump to QuickBooks Online; and that’s why this article will focus on converting from Desktop to QuickBooks Online made easy. There have been a lot of improvements made to QuickBooks Online recently, and it […]
This article will focus on useful tips for using QuickBooks as a contractor. According to a recent Freelancer’s Union report there are currently more than 42.6 million contractors in the United States. And experts predict that this trend will continue into the next few years, which means even more adults will join the independent contractor […]
In today’s fast-paced world business owners are always looking for ways to stay in touch with their customers that won’t take up a lot of time or money; the good news is there are many great mobile apps for small businesses that can help. From simply staying in touch to reminding your customers about opportunities […]
Today’s global online marketplace means that businesses need to have international payment solutions that allow for more business to be done beyond the local borders. By accepting multi-currency, you will ensure your business is able to handle growth into worldwide markets and the international cash flow that comes with it. It is usually necessary to […]
While a solid profit margin is a great way to measure the success of your small business, it is certainly not the only one; that’s why this article will focus on how to use these benchmarks to track your success. KPI’s (or Key Performance Indicators) value a business’ success in terms of whether or not […]
The most successful business owners are those that have figured out how to manage their time effectively; and this article will focus on the right apps for your small business to help you do just that. Let’s face it, time management is a struggle for everyone, but it can become even more complicated when you […]
Automating your accounting task list can simplify your business and cut down on the amount of time it takes to run your business. QuickBooks Apps work seamlessly with QuickBooks Online to help you streamline and organize your accounting system and cut down on time spent inputting data. You can automate your accounting task list by […]
Accounting can be one of the hardest jobs for owners of small businesses, which is why we will use this article to discuss some small business bookkeeping tips that will be sure to save you time and money. Here are seven tips that every small business owner needs to know: Look Ahead The first step […]
It’s time to discuss bookkeeping steps for the year end once again! Now is the perfect time to finish up your projects, get your accounting in order and start off the New Year with a fresh slate. Taking the time to get your bookkeeping in order now will make your tax reporting much easier come […]
The end of the year is the best time to kick your tax strategy into gear; so here are 10 tips for tax planning. #1 Make sure your bookkeeping is current Good bookkeeping is the key to your tax strategy. This is why it is so important to ensure your bookkeeping is up to date […]