BudgetEase Blog - Making YOU Profitable™

Safe Harbor: 401(k): "Sail" Through the Confusion

Providing a retirement program for your employees is an important benefit to attract and retain employees. We have found that simple 401(k) plans initiated by small organizations are easily funded and compound annually to provide valued employees a nest egg at retirement. What feels like small contributions each year result in meaningful retirement benefits over time.

Dentist Offices Need QuickBooks Too

Most dentists use proprietary software to manage their practice. As you might imagine, there are countless dental-specific programs, the most popular being Dentrix, Ace, and Dovetail. The primary focus of these programs is to manage patient care and set appointments with very minimal, if any, focus on accounting. To keep track of transactions and provide financial information, dental practices really benefit from using an accounting program like QuickBooks.

Hiring the Right Internal Bookkeeper

Many small business owners start out doing their own bookkeeping. As business grows, there is often little time to manage the books and the search for an internal bookkeeper begins. While QuickBooks is user-friendly, it’s important to hire a candidate that knows their way around the software.

Testimonials from Cleveland Businesses

Have your clients asked for help finding a good bookkeeper recently? We offer the highest-quality bookkeeping services for small businesses in Cleveland. Here’s what some of our clients have to say about us!

How to Manage Trust Funds (IOLTA) Using QuickBooks

While you don’t want to mismanage any of your accounting records, mismanaging a trust account (IOLTA – Interest on Lawyers Trust Account) can have terrible consequences. Keep in mind, trust funds are not your money, at least not yet.

How to Accurately Track Sales Commissions

If your business pays sales commissions, you probably use a time-consuming excel spreadsheet to track them as they are paid out. Commission rates often vary by item and your salespeople may only be paid when the customer has paid you, which complicates things even more!

Are You Confused by the Commercial Activity Tax?

Commercial Activity Tax (CAT) is a tax imposed for the privilege of doing business in Ohio. CAT is calculated on taxable gross receipts from most business activities in Ohio, or activities that benefit an Ohio-based business.

Cash vs. Accrual Basis Accounting

There are two ways of accounting – cash basis accounting and accrual basis. The main difference between them lies in the timing of when revenue and expenses are recognized.

7 Bookkeeping Processes to Propel You

If you reflect on your bookkeeping processes, you will likely arrive at a few areas that need improvement. There are things you can do now to make bookkeeping easier. Things to consider are:

Before You Convert to QuickBooks Online

Many small businesses are choosing to leave their QuickBooks Desktop (QBD) accounting software for the accessibility of QuickBooks Online (QBO). As a bookkeeper for a small business, I was part of a conversion recently. Below are some of the tips I can offer.

Before the Conversion

Clean up Vendors: Take time to weed through your vendors for duplicates and update contact information. Merge like vendors and make vendors not used in several years inactive. This process is much simpler with QBD.

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